Marketing, Brand Association

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Marketing, Brand Association

  1. 1. Brands Resonance pyramid:This is one of the 4 models of brand equity. This model views brand building as an ascending series ofsteps, from bottom to top:The creation of significant brand equity requires reaching the top of the brand pyramid, which occurs onlyif the right steps are followed in right sequences.  Brand Salience: This relates to aspects of awareness of the brand.  Brand Performance: This relates to ways in which product/ service meets customers’ needs and expectations.  Brand Imagery: It’s how customers perceive a brand, with no relevance to what the brand actually does because in marketing perception is more important than reality.  Brand Judgments: The customers’ personal opinions and evaluations with regard to the brand keeping in mind the image of that product.  Brand Feelings: The customers’ emotional responses and reactions with respect to the brand before & after the sale.  Brand Resonance: The ultimate relationship & level of identification that the customer has with the brand or the intense, active loyalty of customer with brand.
  2. 2. Secondary Sources of Brand Knowledge:We can built Brand equity by doing the following steps:1.Mixing & matching of brand elements.2. Then integrate Holistic Brand Marketing Activities.3. And finally leveraging of Secondary associations.Creation of New Brand Association:The Secondary brand association is helpful in case of launching a new product or service. By making aconnection between the already developed brand and another entity, consumers may form a mentalassociation of the already developed brand with the new product or service and which has alreadycreated impression in consumer’s mind, thereby leveraging secondary brand association to create brandequity.Secondary brand association has its importance when consumers are not aware of thenew or upcoming brand. This leads to indifferent approach from customer towardsbrand. Thus, consumers can infer brand value by “borrowing” from other informationsources than the product itself.The extent to which such association can be leveraged depends upon Awareness & Knowledge of entity. Meaningfulness of the knowledge of the entity, and Transferability of knowledge of the entity.We can create secondary brand knowledge by linking the brand to the following: 1. Companies: If a company is to introduce a new brand the first step of association is with corporate brand if it exists. For example, Nokia, when it introduce mini laptop it was referred as Nokia 3G Booklet there are creating association, as consumer are already aware Nokia mobile phones. 2. Countries or other geographic areas: Many countries enjoy a reputation of excellence in certain areas. Brands may highlight their area of origin to transfer such positive associations. For example BMW and its association with Germany. Top class and renowned German engineering process gets linked to brand BMW or other car coming out of Germany. 3. Channel of distribution: We can also leverage secondary brand association by selecting a good distribution channel. For example Bharti-Walmart wholesale cash & carry. Walmart is famous for its excellent distribution-channel planning which can be leveraged by Bharti. 4. Co-branding: Also called brand bundling or brand alliances-occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion. For example- Mahindra-Renault, Citibank-Indianoil credit cards, Bharti- Walmart & so on.
  3. 3. 5. Ingredient branding: This is a special case of co-branding that involves creating brand equity for materials, components, or parts that are necessarily contained within other branded products. For example: “Intel inside” in various laptops.6. licensing: Licensing creates contractual arrangements whereby firms can use the names, logos, characters, and so forth of other brands to market their own brands for some fixed fee. Because it can be a shortcut means of building brand equity, licensing has gained popularity in recent years.7. Celebrity endorsement (The Face of Company): The rationale behind using celebrity endorsement is that a famous person can: Draw attention to a brand, and Shape the perceptions of the brand by virtue of the inferences that consumers make based on the knowledge they have about the famous person.8. sporting, cultural, or other events: A brand may seem more likable or even trustworthy by becoming linked to an event. Sponsored events can contribute to brand equity by becoming associated to the brand and improving brand awareness, adding new associations, or improving the strength, favorability, and uniqueness of associations. For example: Lakme Fashion Week, Bournvita little champs9. Third-party Resources: For example: Dental association certifying toothpaste brand.

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