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Rationale of Customer-Based Brand Equity Model PowerPoint Presentation
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Rationale of Customer-Based Brand Equity Model

Rationale of Customer-Based Brand Equity Model

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Rationale of Customer-Based Brand Equity Model

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Presentation Transcript

    1. Rationale of Customer-Based Brand Equity Model Basic premise: Power of a brand resides in the minds of customers Challenge is to ensure customers have the right types of experiences with products & services and their marketing programs to create the right brand knowledge structures: Thoughts Feelings Images Perceptions Attitudes

    2. Building Customer-Based Brand Equity Building a strong brand involves a series of steps as part of a branding ladder A strong brand is also characterized by a logically constructed set of brand building blocks. Identifies areas of strength and weakness Provides guidance to marketing activities

    4. Salience Dimensions Depth of brand awareness Ease of recognition & recall Strength & clarity of category membership Breadth of brand awareness Purchase consideration Consumption consideration

    5. Performance Dimensions Primary characteristics & supplementary features Product reliability, durability, and serviceability Service effectiveness, efficiency, and empathy Style and design Price

    6. Imagery Dimensions User profiles Demographic & psychographic characteristics Actual or aspirational Group perceptions -- popularity Purchase & usage situations Type of channel, specific stores, ease of purchase Time (day, week, month, year, etc.), location, and context of usage Personality & values Sincerity, excitement, competence, sophistication, & ruggedness History, heritage, & experiences Nostalgia Memories

    7. Judgment Dimensions Brand quality Value Satisfaction Brand credibility Expertise Trustworthiness Likability Brand consideration Relevance Brand superiority Differentiation

    8. Feelings Dimensions Warmth Fun Excitement Security Social approval Self-respect

    9. Resonance Dimensions Behavioral loyalty Frequency and amount of repeat purchases Attitudinal attachment Love brand (favorite possessions; a little pleasure) Proud of brand Sense of community Kinship Affiliation Active engagement Seek information Join club Visit web site, chat rooms

    12. Brand Positioning Define competitive frame of reference Target market Nature of competition Define desired brand knowledge structures Points-of-parity necessary competitive Points-of-difference strong, favorable, and unique brand associations

    13. Issues in Implementing Brand Positioning Establishing Category Membership Identifying & Choosing POPs & PODs Communicating & Establishing POPs & PODs Sustaining & Evolving PODs & POPs

    14. Establishing Category Membership Product descriptor Exemplar comparisons

    15. Identifying & Choosing POPs & PODs Desirability criteria (consumer perspective) Personally relevant Distinctive & superior Believable & credible Deliverability criteria (firm perspective) Feasible Profitable Pre-emptive, defensible & difficult to attack

    16. Major Challenges in Positioning Find compelling & impactful points-of-difference (MacMillan & McGrath, HBR, 97) How do people become aware of their need for your product and service? How do consumers find your offering? How do consumers make their final selection? How do consumers order and purchase your product or service? What happens when your product or service is delivered? How is your product installed? How is your product or service paid for?

    17. Major Challenges in Positioning Find compelling & impactful points-of-difference (cont.) How is your product stored? How is your product moved around? What is the consumer really using your product for? What do consumers need help with when they use your product? What about returns or exchanges? How is your product repaired or serviced? What happens when your product is disposed of or no longer used?

    18. Communicating & Establishing POPs & PODs Create POPs and PODs in the face of attribute & benefit trade-offs Price & quality Convenience & quality Taste & low calories Efficacy & mildness Power & safety Ubiquity & prestige Comprehensiveness (variety) & simplicity Strength & refinement

    19. Strategies to Reconcile Attribute & Benefit Trade-Offs Establish separate marketing programs Leverage secondary association (e.g., co-brand) Re-define the relationship from negative to positive

    20. Sustaining & Evolving POPs & PODs Core Brand Values & Core Brand Proposition

    21. Core Brand Values Set of abstract concepts or phrases that characterize the 5-10 most important dimensions of the mental map of a brand. Relate to points-of-parity and points-of-difference Mental Map ? Core Brand Values ? Brand Mantra

    22. Brand Mantras A brand mantra is an articulation of the heart and soul of the brand. Brand mantras are short three to five word phrases that capture the irrefutable essence or spirit of the brand positioning and brand values. Nike Authentic Athletic Performance Disney Fun Family Entertainment

    23. Building Customer-Based Brand Equity Brand knowledge structures depend on . . . The initial choices for the brand elements The supporting marketing program and the manner by which the brand is integrated into it Other associations indirectly transferred to the brand by linking it to some other entities

    24. Brand Elements A variety of brand elements can be chosen that inherently enhance brand awareness or facilitate the formation of strong, favorable, and unique brand associations: Brand Name Logo Symbol

    25. Brand Elements Choice Criteria: General Considerations Memorable Easily Recognized Easily Recalled Meaningful Credible & Suggestive Rich Visual & Verbal Imagery Appealing Fun & Interesting Aesthetics