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Brand equity process
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CHAPTER ONE -INTRODUCTION TO STRATEGIC BRAND MANAGEMENT
Course Title: Strategic Brand Management
Introduction
A name becomes a brand when consumers associate it with a set of
tangible and intangible benefits that they obtain from the product or service
It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers (Brand Promise Brand Equity)
Steps in theStrategic Brand Management Process
1. Identifying and establishing brand positioning
2. Planning and implementing brand marketing
3. Measuring and interpreting brand performance
4. Growing and sustaining brand value
Definition
“A brand is a name, term, sign, symbol or design, or a combination of them,
intended to identify the goods or services of one seller or group of sellers and to
differentiate them from those of competitors”
Role of Brands
Consumer Benefits Identify source/maker Simplifies decision making Reduces risk
Marketer Benefits Simplify product handling Protect unique features Create loyalty Establish barriers to entry
Advantages of Strong Brands Improved perceptions of product performance Greater loyalty Less vulnerability to competitive marketing
actions Less vulnerability to crises Larger margins More inelastic consumer response Greater trade cooperation Increased marketing communications
effectiveness Possible licensing opportunities
Brand Elements
Brand Names URLs Logos Symbols Characters Spokespeople Slogans Jingles Packages
Brand Element Choice Criteria Memorable Meaningful Likeability Transferable Adaptable Protectible
Elements and Measurement
BRAND EQUITY
Introduction
Brands have financial value because they have created assets in the minds and hearts of
customer, distributors, prescribers and opinion leaders.
Brand Equity When a commodity becomes a brand, it is said to
have equity. The premium a brand can command in the
market The difference between the perceived value and
the intrinsic value
Customer-Based Brand Equity
It is the differential effect that brand knowledge has on consumer response to the marketing of that brand
A positive CBBE means customers might be more accepting to the marketing activities (ie. the marketing mix) for a brand
Aaker’s Brand Equity Model
Aaker’s Brand Equity Model
Brand Equity Framework
Brand Equity
Brand Awareness
Brand Recall
Brand Recognitio
n
Brand Attributes
& Associatio
ns
Uniqueness
Favorability Relevance
Brand Loyalty
Perceived Quality
Brand Associations: Uniqueness
USP Unique Selling Proposition Product-related Image Related
Points of Difference - How brand is unique Points of Parity - How brand is similar to
others
Brand Equity Framework
Brand Knowledge
Knowledge
Thoughts
Experiences
Beliefs Images
Feelings
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CUSTOMER-BASED BRAND EQUITY PYRAMID
RESONANCE
SALIENCE
JUDGMENTS FEELINGS
PERFORMANCE IMAGERY
4. RELATIONSHIPS =
What about you & me?
4. RELATIONSHIPS =
What about you & me?
3. RESPONSE =
What about you?
3. RESPONSE =
What about you?
2. MEANING =
What are you?
2. MEANING =
What are you?
1. IDENTITY =
Who are you?
1. IDENTITY =
Who are you?
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Customer-Based Brand Equity Model
Consumer-BrandResonance
Brand Salience
Consumer Judgments
Consumer Feelings
BrandPerformance
BrandImagery
INTENSE, ACTIVE LOYALTY
INTENSE, ACTIVE LOYALTY
RATIONAL & EMOTIONAL REACTIONS
RATIONAL & EMOTIONAL REACTIONS
POINTS-OF-PARITY &
POINTS-OF-DIFFERENCE
POINTS-OF-PARITY &
POINTS-OF-DIFFERENCE
DEEP, BROAD BRAND
AWARENESS
DEEP, BROAD BRAND
AWARENESS
Customer-Based Brand Equity Pyramid
Brand Salience - How brand stands out from the rest (Prominence)
Brand Performance - How product meets customers’ functional needs
Brand Imagery - Strong, Unique Associations How brand meets psychological or social needs Brand Judgments - Personal opinions &
evaluations of brand Brand Feelings - Emotional responses to brand Brand Resonance - Intense loyalty, Active
involvement with brand
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