Study on Customer-based Brand Equity in the Luxury Hospitality Industry
Taking Rosewood London as an Example
DOI:
https://doi.org/10.54097/fbem.v8i1.6009Keywords:
Customer-based brand equity, Luxury hotel, Brand knowledge, Brand extension, Logo, Rosewood London.Abstract
This paper examines the customer-based brand equity of Rosewood London, a luxury hotel brand. To understand the brand associations that are favorable, strong, and unique in the consumer's mind, the associative network memory model is utilized, and the Brand Concept Maps technique is employed to illustrate the core associations and how they are linked in consumer memory. The two pillars of Rosewood London's brand knowledge, brand awareness and brand image, are explored, and their impact on consumers' purchase decisions is discussed. The paper evaluates Rosewood London's brand equity from two dimensions: brand feelings and brand performance. Additionally, the paper discusses the advantages and disadvantages of brand extensions in the hospitality industry, and how Rosewood London can leverage its parent brand to extend its brand portfolio. Overall, the paper provides insights into the strength of Rosewood London's brand equity and offers recommendations for how the brand can further enhance its position in the luxury hospitality market.
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