Sources of Brand Equity for Starbucks

Brand equity describes the value derived from brand name acuity from customers because they perceive well-known brand name products as better than those that have lesser popular names (Burmann, Jost-Benz & Riley, 2009). Both qualitative and quantitative approaches can be used to identify the sources of brand equity for Starbucks.

Qualitative Approach

Starbucks is a globally known coffee brand, and considering the customers in the market, free association helps give a clear profile of the brand links. According to Hsu & Assaf (2012), the brand clinched a fourth place amongst the most dominative brands in the world as of 2005. Questions asked to the customers worldwide about how they perceived the brand suggested that it had a good assembled brand profile. Its multi-dimensional coffee varieties with ranges of flavors as well as various product lines and services such as WIFI make the brand unique as compared to its competitors. An agreement exists among researchers that the brand equity of Starbucks is high according to the words of the customers as well as the range of  its associations as pointed out by Burmann et.al. (2009).

Quantitative Approach

Quantitative approach is necessary for the confidence of researchers in order to make defensible as well as tactical recommendations for a brand. The awareness of Starbucks brand and its relation when it comes to the memory of the customers is a concern as pointed out by French & Smith (2013). Just recently, Starbucks Digital customer Members grew by 28% to a whopping 10.4 million members, presenting a scenario of recognition, one of the aspects for quantitatively measuring brand loyalty (French & Smith, 2013). A study conducted at West Virginia and Rice universities showed that customers had concerns with the redesigning of the logos. Casual customers tended to have a less strong feeling about the changes in logo but those committed to the brand depicted significant opposition to the changes. As pointed out by Hsu & Assaf (2012), brand awareness to the customers is a great source of brand equity for any firm.

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