Brand equity measurement

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Brand equity measurement

  1. 1. Brand Equity Research Scott Smith Brigham Young University
  2. 2. Marketing Changes…Marketing is a set of activities designed to satisfythe needs and wants of a market (the customer)through an exchange process.x 1920’s $.50 /hr avg. wage Output doubled, but consumers had inadequate income to buy.x 1930’s - 40’s $.66/hr avg. wage... production made products cheaper so consumers could buy.x 1940’s customer was the retailer or wholesaler Salesx Late 1940’s pent up demand, shortage, made old product better, Chemicals, electronic advancesx 1960’s Customer Orientationx 1970’s Competitor Orientationx 1980’s Strategic Marketing Orientationx 1990’s Streamlining, Optimizing Market Offeringsx 2000’s Global markets, Low Price, High Tech, Off Shore Production
  3. 3. Types of Research Studies by Stage of Product Life CyclePreintroduction Introduction Growth Mature Decline Product Satisfaction Store Audits: Product New users Price Name/package Sales/share Performance New product elasticity Product positioning Product stocking, Sales uses Cost Advertising copy out-of-stock, Forecasting Line extensions reductions Market response In-store Promotion, Product Competitors’ Prices Positioning activities Product Tracking: availability Awareness, Trial, Repeat buying
  4. 4. Product and Brand Associations Product Country / Attributes Intangibles Geographic Area Customer Benefits Competitors Name and Relative PriceProduct Class Symbol Life Style / Use / Application Personality User / Customer Celebrity / Person
  5. 5. Brand Associations Product Attributes Intangibles Customer Benefits Crest-Decay Prevention Bayer - Fast Acting McDonalds - Reward Michelin - Family Safety Cadillac - Quality Snickers - Reward Vollvo - Durability Lexis - Luxury Rational: Thick, full body Technological Leadership Psych: Look, feel good Relative Price Use/Application User/Customer Premium / Quality Campbells: lunch to meal Covergirl: Young, blonde Hotels: Bell: Reach out and touch. Revlon: Sophisticated Budget: Motel 6 Food usage: Mabelline: ??? to smart, Economy,: Days in start day, between meals, Cadbury, Schweppes: For Midrange: Courtyard, H.I. between meals with when your tastes grow up Luxury: Marriott something, lunch, Miller Lite: “Heavy Super luxury: Hyatt Reg. supper, dinner w/ guests, drinkers” Less filling Luxurysuite: Embassy Suite evening, weekends Celebrity/Person Life Style/Persnality Product Class Mike: Michael Jordan Betty Crocker: Honest, Maxim - freeze dried Reebok: dependable, friendly, Parkay - butter Mr. Clean, Pillsbury Dough specialist... old and 70up Uncola traditional, out of date Competitors Country/Geog. Area Avis - Hertz Benehana - Japan Pontiac - VW Rabbit Stolichnaya - Russia
  6. 6. ComplianceTop Management Gap Quality as desiredQuality Plan by Customer Involvement Gap Realization Gap ACTUAL Point of Value QUALITY View Gap Gap RESULT Planning Gap Perception GapQuality as perceived Quality as perceivedby Personnel by Customer Comprehension Gap
  7. 7. Identifying Your MarketStrategyx How to Segment the Market x Benefits that customers in eachx Define the Markets for the segment derive from the Product product: Economics, Betterx Identify Scope and Dimensions Performance, Cost of each Market: Size, x Reasons for buying the product Profitability by segment: Features,x Expected Segment Growth Awareness, Price, Advertising, Promotion, Packaging, Display,x Requirements for success in each Sales Assistance market x Customer Attitudes byx Market standing with Segment: Brand Awareness, established customers in each Brand Image Mapping segment: Share, Pattern of x Purchase and Use Habits repeat business, Expansion of customer’s product use, x Product’s Life Cycle Position Reputation
  8. 8. AVERAGE SUBJECT CONFIGURATION & VECTORS CORR. WITH SEMANTIC DIFFERENTIAL SCALES 1 SPORTY 0.9 FRESH 0.8 300 ZX MASCULINE 0.7 EXCITING MUSTANG PORSCHE SWIFT 0.6 CORVETTE RELIABLE 0.5 BOLD 0.4 UNCONVENTIONALSPORTINESS 0.3 STRONG 0.2 ESCORT 0.1 0 -0.1 SOPHISTICATED ELEGANT -0.2 CHEVETTE COMPLEX -0.3 JAGUAR -0.4 -0.5 RENAULT -0.6 MERCEDES -0.7 LINCOLN CADILLAC -0.8 -1.6 -1.2 -0.8 -0.4 0 0.4 0.8 1.2 1.6 LUXURIOUSNESS
  9. 9. PRODUCT QUALITY Dimensions of Excellence1. Performance. How well does a drug cure an ailment, or a piece of diagnostic equipment diagnose? A physician operate?2. Durability. How long will the lawn mower last...any corollaries in the health care area? Treatments?3. Conformance with Specifications. What are the inside dimensions? Corollaries with health care area? Standard procedures?4. Features. Does the airline flight offer movies? How Many? MD11 business class (6 movies x 4) Amenities in hotel or hospital...do they differ for each area of the hospital...pediatrics Vs. medical/surgical unit.5. The Name. Is it a name that means quality? Cars/Planes/Leather/Jewelry?6. Reliability. Will each visit result in the same satisfaction.7. Serviceability. Is the service system efficient, competent, convenient?8. Fit and Finish. Does the product look and feel like a quality product?
  10. 10. Achieving a Sustainable Competitive Advantagex Achieve differentiation in the product delivery attributes: Price, Quality, Aesthetics, Functionality, Availability, Consumer Awareness, Visibility, Servicex Achieve differentiation on the key buying attributes: 1, 2, or 3 attributes may be critical... Others are marginal Quality Product and Service Name Recognitionx Achieve breadth of attraction and depth of preferencex Achieve Capability Gap Business Systems Gap Positioning Gaps: Reputation, Consumer Awareness, Capability Regulatory / Legal Gap Organizational / Managerial Gap

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