Brand equity

445 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
445
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
40
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Brand equity

  1. 1. Managing Brand Equityvisit: www.studyMarketing.org 1
  2. 2. You can download this presentation at: www.studyMarketing.org Visit www.studyMarketing.org for more presentations on Marketing, Strategy, Innovation, and Brandingvisit: www.studyMarketing.org 2
  3. 3. Brand equity is a set of brand assets and liabilities linked to a brandvisit: www.studyMarketing.org 3
  4. 4. Elements of Brand Equity: Brand Loyalty Brand Awareness Perceived Quality Brand Associationsvisit: www.studyMarketing.org 4
  5. 5. Brand Loyalty Brand loyalty is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features.visit: www.studyMarketing.org 5
  6. 6. Brand Loyalty Pyramid Committed Buyer Likes the Brand - Considers it a Friend Satisfied Buyer With Switching Costs Habitual Buyer - No Reason to Change Switchers / Price Sensitive Indifferent – No Brand Loyaltyvisit: www.studyMarketing.org 6
  7. 7. Measuring Brand Loyalty • Purchase Behavior Patterns • Switching Cost Analysis • Satisfaction Measurementvisit: www.studyMarketing.org 7
  8. 8. Strategic Value of Brand Loyalty • Reduce marketing cost • Trade (channel distribution) leverage • Attracting new customersvisit: www.studyMarketing.org 8
  9. 9. Enhancing Brand Loyalty • Treat the customer right • Stay close to the customer • Measure/manage customer satisfaction • Create switching cost • Provide extrasvisit: www.studyMarketing.org 9
  10. 10. Brand Awareness is the ability of a potential buyer to recognize or recall that a brand is a member of a certain product categoryvisit: www.studyMarketing.org 10
  11. 11. Brand Awareness Hierarchy Top of Mind Brand Recall Brand Recognition Unaware of Brandvisit: www.studyMarketing.org 11
  12. 12. Value of Brand Awareness • Anchor to which other associations can be attached • Familiarity and liking • Signal of substance/commitment • Brand to be consideredvisit: www.studyMarketing.org 12
  13. 13. How to Achieve Brand Awareness Be different, memorable Involve a slogan or jingle Symbol exposure Publicity Event sponsorshipvisit: www.studyMarketing.org 13
  14. 14. Perceived Quality The customers perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives. Perceived quality is a perception by customers.visit: www.studyMarketing.org 14
  15. 15. What • Performance • Features Influences • Conformance with Perceived specifications Quality of • Reliability Product? Product • Durability • Serviceability • Fit and finishvisit: www.studyMarketing.org 15
  16. 16. Appearance What Reliability Influences Competence Perceived Responsiveness Quality of Empathy Service? Servicevisit: www.studyMarketing.org 16
  17. 17. The Value of Perceived Quality • Reason-to-Buy • Differentiate/Position • A Price Premium • Channel Member Interest • Brand Extensionsvisit: www.studyMarketing.org 17
  18. 18. Brand AssociationA brand association is anything"linked" in memory to a brand.Thus, McDonalds could be linked to acharacter such as Ronald McDonald, aconsumer segment such as kids, a feelingsuch as having fun, a product characteristicsuch as service, or a symbol such as theGolden Arches.visit: www.studyMarketing.org 18
  19. 19. Some Types of Associations • Product Attributes • Customer Benefits • Relative Price • Lifestyle/Personality • Celebrity/Person • Use/Applicationvisit: www.studyMarketing.org 19
  20. 20. The Value of Brand Associations • Help Process/Retrieve Information • Differentiate/Position • Reason-to-Buy • Create Positive Attitudes/Feelings • Basis for Extensionsvisit: www.studyMarketing.org 20
  21. 21. Maintaining Associations • Be consistent over time • Be consistent over elements of the marketing program • Manage disasters in order to minimize their damagevisit: www.studyMarketing.org 21
  22. 22. Criteria for Brand Name Selection • Be easy to learn and remember • Suggest the product class • Support a symbol or slogan • Suggest desired association without being boring or trivial • Not suggest undesired associations • Be distinctive • Be available and protectable legallyvisit: www.studyMarketing.org 22
  23. 23. Source of Reference: David Aaker, Managing Brand Equity : Capitalizing on the Value of A Brand Name, Free Pressvisit: www.studyMarketing.org 23

×