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MARKETING MANAGEMENT 12 th edition

Learn what brand equity is, how it is built, measured, and managed, and the important decisions in developing a branding strategy. Gain insights into the attributes of strong brands and the role of brands in marketing.

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MARKETING MANAGEMENT 12 th edition

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  1. MARKETING MANAGEMENT12th edition 9 Creating Brand Equity Kotler Keller

  2. Chapter Questions • What is a brand and how does branding work? • What is brand equity? • How is brand equity built, measured, and managed? • What are the important decisions in developing a branding strategy?

  3. Brand 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.

  4. Excels at delivering desired benefits Stays relevant Priced to meet perceptions of value Positioned properly Communicates consistent brand messages Well-designed brand hierarchy Uses multiple marketing activities Understands consumer-brand relationship Supported by organization Monitors sources of brand equity Attributes of Strong Brands

  5. Identify the maker Simplify product handling Organize accounting Offer legal protection Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium The Role of Brands

  6. Branding Endowing products and services with the power of a brand.

  7. Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of that brand.

  8. Brand Associations • Strong • Unique • Favorable

  9. Improved perceptions of product performance Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins Inelastic consumer response to price increases Elastic consumer response to price decreases Greater trade cooperation Increase in effectiveness of IMC Licensing opportunities Brand extension opportunities Marketing Advantages of Strong Brands

  10. Brand Promise The marketer’s vision of what the brand must be and do for Consumers.

  11. Drivers of Brand Equity • Brand elements • Marketing activities • Meaning transference

  12. Brand names Slogans Characters URLs Logos Symbols Brand Elements

  13. Memorable Meaningful Likeability Transferable Adaptable Protectible Brand Element Choice Criteria

  14. Like a good neighbor, State Farm is there Just do it Nothing runs like a Deere Help is just around the corner Save 15% or more in 15 minutes or less We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices Slogans

  15. Measuring Brand Equity • Brand audits • Brand tracking • Brand valuation

  16. Devising a Branding Strategy • Develop new brand elements • Apply existing brand elements • Use a combination of old and new

  17. Brand line Brand mix Brand extension Sub-brand Parent brand Family brand Line extension Category extension Branded variants Licensed product Brand dilution Brand portfolio Branding Terms

  18. Brand Naming • Individual names • Blanket family names • Separate family names • Corporate name/individual name combo

  19. Brand Roles in a Brand Portfolio • Flankers • Cash cows • Low-end entry-level • High-end prestige

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