How is brand equity built, measured and managed

-Building-Measurement-Management

Building Brand Equity

But how to build Brand Equity?

-By creating right brand knowledge structure

What are brand elements ?

How to choose Brand Element ?

6 basic criteria

1. Memorable

2. Meaningful

3. Linkable

5. Transferable4. Adaptable

6. Protectable

-how easily consumers can recall the product

-Is brand element creditable ?

-how aesthetically appealing is brand element ?

-can the brand element introduce new products in same or different categories.

-how adaptable or updatable is brand element?

-how legally protected is the brand element?

Measuring brand equity

-Assess potential sources of brand equity

-Assess the actual impact of brand knowledge

Managing Brand Equity

1 . Major enduring asset.

2. By continuously conveying brand’s meaning

-What does product represent , how is it superior

Recap

Now we know-Building Brand Equity -What is a brand element-Choosing brand brand element-Developing brand element-Measuring Brand Equity-Managing brand equity

These slides were created by Yovan Sethi,

IIIT Allahabad, during a Marketing internship

by Prof. Sameer Mathur,

IIM Lucknow (See www.IIMInternship.com)

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