Final answer:
Samsung's Customer Brand Equity model represents the conception of brand value from consumer perceptions, focusing on brand awareness, identity, and experience. Effective application includes marketing, product innovation, and customer satisfaction. Conversely, poor quality, service, or PR may signify a failure to apply the model correctly.
Step-by-step explanation:
The Samsung Customer Brand Equity model is likely a variation of the well-known brand equity model proposed by Kevin Lane Keller, known as Customer-Based Brand Equity (CBBE) Model. The CBBE framework suggests that building a strong brand revolves around creating a positive brand image, shaping consumer perceptions and experiences in a way that leads to loyalty, preference, and, ultimately, financial gain.
In applying this model, a company may focus on enhancing brand awareness through marketing campaigns, developing a unique brand identity, and delivering a consistent customer experience. These approaches build the brand's equity, making it more valuable in the consumer's eyes. For Samsung, this could mean promoting cutting-edge technology, ensuring high levels of customer satisfaction, and maintaining a strong presence in the consumer electronics market.
On the other hand, a company may not be applying the model effectively if it neglects any of these areas. For instance, if there are inconsistencies in product quality, poor customer service, or ineffective marketing strategies, these could negatively impact the brand equity. For Samsung, failing to address customer complaints promptly, not innovating products in line with consumer expectations, or any public relations crisis could weaken the brand's equity.