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Creating Brand Equity

Creating Brand Equity. 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?. Brand. A name, term, sign, symbol

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Creating Brand Equity

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  1. Creating Brand Equity www.assignmentpoint.com

  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? www.assignmentpoint.com

  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. www.assignmentpoint.com

  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 www.assignmentpoint.com

  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 www.assignmentpoint.com

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

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

  8. Brand Associations • Strong • Unique • Favorable www.assignmentpoint.com

  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 www.assignmentpoint.com

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

  11. Brand Equity Models • Brand Asset Valuator • Aaker Model • BRANDZ • Brand Resonance www.assignmentpoint.com

  12. Drivers of Brand Equity • Brand elements • Marketing activities • Meaning transference www.assignmentpoint.com

  13. Brand names Slogans Characters URLs Logos Symbols Brand Elements www.assignmentpoint.com

  14. Memorable Meaningful Likeability Transferable Adaptable Protectible Brand Element Choice Criteria www.assignmentpoint.com

  15. 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 www.assignmentpoint.com

  16. Measuring Brand Equity • Brand audits • Brand tracking • Brand valuation www.assignmentpoint.com

  17. Brand earnings Brand sales Costs of sales Marketing costs Overhead expenses Remuneration of capital charge Taxation Brand strength Leadership (25%) Stability (15%) Market (10%) Geographic spread (25%) Trend (10%) Support (10%) Protection (5%) Interbrand’s Brand Equity Formula www.assignmentpoint.com

  18. Managing Brand Equity • Brand reinforcement • Brand revitalization • Brand crises www.assignmentpoint.com

  19. Devising a Branding Strategy • Develop new brand elements • Apply existing brand elements • Use a combination of old and new www.assignmentpoint.com

  20. 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 www.assignmentpoint.com

  21. Brand Naming • Individual names • Blanket family names • Separate family names • Corporate name/individual name combo www.assignmentpoint.com

  22. Brand Roles in a Brand Portfolio • Flankers • Cash cows • Low-end entry-level • High-end prestige www.assignmentpoint.com

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