All You Need To Know About Brand

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An overview of brand equity, how to become a stronger brand and marketing tips that'll make your life easier. Whether you're a company looking for advice or a student studying brand management, this presentation'll break down branding in a simple and easy way. Enjoy! Please message me with any questions.

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All You Need To Know About Brand

  1. 1. All You Need To Know About Brand An overview of brand equity with recommendations and traps to avoid
  2. 2. What Is A Strong Brand?
  3. 3. What Makes A Brand Strong? Brand Equity n. all of the distinguishing qualities of a commercial brand that results in personal commitment to and demand for the brand; the intangible value-added aspect of particular goods otherwise not considered unique; also, the value built up in a brand, either positi ve or negative
  4. 4. Elements of Brand Equity Loyalty Awareness Quality Associatio ns Other Assets
  5. 5. Brand Equity  Strong Brand = High Brand Equity  Brand Equity = Brand Loyalty + Brand Awareness + Perceived Quality + Brand Associations + Other Brand Assets
  6. 6. Brand Loyalty  Positive attitude towards brand which is exhibited through behavior and repurchasing  Commitment to brand – customers turn into ambassadors through word of mouth  Lower sensitivity to price
  7. 7. How to increase loyalty?  Rewards Programs    Encourage loyalty Repeat purchases Build trust and connect   Blogs, build community, behind-the-scenes http://www.stonyfield.com/blog/
  8. 8. Brand Awareness Brand Awareness = Brand recall + brand recognition  Brand recognition   Based off of name or logo, do you recognize these brands? Brand recall  - ex. Name all the companies you know in the office supply When prompted with a product/service category, what category companies will you name?
  9. 9. How to increase awareness?  Traditional Advertising   Social Media   Radio ads, TV ads, PPC ads, Direct Mail, Print ads, Outdoor Banners YouTube, Twitter, Facebook, Instagram Promotional Products  Custom shirts, custom mugs, custom pens
  10. 10. Perceived Quality  The key word here is perceived  If Product A is better than Product B in all technical categories but customers perceive Product B as being superior – that’s all that matters  Measured through customer satisfaction surveys, industry reports  Perceived quality should be in line with price  It’s all about value  Low quality but very low price is still good value
  11. 11. How to change perception?  Market industry reports that highlight your company   Invest in Research and Development   Make sure customers know about your quality in comparison to competition If product is not up to par, you need to invest in your process and improve Lower price  If your product is of average quality but priced too high, the perceived value will be low. If the product is average but the price is lower than the rest of the market, customers will see value.
  12. 12. Brand Associations  Attributes that customer associates with brand Price Quality Personality Logo  Advertisements Endorsements Word of Mouth Employees Positive associations obstructs competitor’s entry to the market because products are replicable but associations are not  NOT JUST PRODUCT OR SERVICE
  13. 13. Other Brand Assets  Assets that act as barrier to entry for competition  Patents, Trademarks, and Channels  Property, physical stores, outlets  Website, Social media account, Online presence
  14. 14. Things to remember   A strong brand creates an emotional connection with consumer A company should be more than just a product or a service   A product or service can be replicated by any competitor. An emotional connection cannot be replicated. Branding needs to be a focus and consistent across all channels of the company   Inconsistent branding leads to confusion for customers and employees Graphics should present the same vibe as customer service rep does
  15. 15. Any questions?   Feel free to email michaelgr@shoplet.com with any branding or marketing questions This marketing series has been presented by Shoplet Promos

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