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Brand Equity
 

Brand Equity

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Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share ...

Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm.

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    Brand Equity Brand Equity Presentation Transcript

    • BRAND EQUITY
    • Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm. Brand Equity A set of asset and liabilities linked to a brand, its name, symbol, that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers.
    • Brand Equity – Value to Customers  Interpretation/Processing of information.  Confidence in the Purchase decision.  Use satisfaction. Brand Equity – Value to Company  Efficiency & Effectiveness of marketing programs.  Brand Loyalty.  Prices / Margins.  Brand Extensions.  Trade Leverage.  Competitive Advantage.
    • Brand Equity
    • Brand Awareness Extent to which a brand is recognized by potential customers, and is correctly associated with a particular product. Expressed usually as a percentage of target market, brand awareness is the primary goal of advertising in the early months or years of a product's introduction.
    • How to Achieve Awareness..?  Be different & memorable  Involve a slogan or jingle  Symbol exposure  Publicity  Event sponsorship  Consider brand extensions  Using cues  Recall requires repetition  The recall bonus
    • Brand Association The extent to which a particular product or service is identified within its product or service category.
    • Value of Brand Association Help Process/Retrieve Information Differentiated Basis For Extensions Create Positive Attitude / Feelings Reason To Buy
    • Perceived Quality Consumer's opinion of a product's (or a brand's) ability to fulfill his or her expectations. It may have little or nothing to do with the actual excellence of the product, and is based on the firm's (or brand's) current public image (see corporate image), consumer's experience with the firm's other products, and the influence of the opinion leaders, consumer's peer group, and others.
    • Perceived Quality Dimensions Product  PERFORMANCE  FEATURES  CONFORMANCE  RELIABILITY  SERVICEABILITY  DURABILITY  FIT & FINISH Service  TANGIBLES  RELIABILITY  COMPETENCE  RESPONSIVENESS  EMPATHY
    • Brand Loyalty The extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands
    • Source: Filip Wouters
    • Value of Brand Loyalty  Attracting New Customers.  Reduced Marketing Costs.  Trade Leverage.  Provide time to respond to competitive threats.
    • Creating & Maintaining Brand Loyalty  Treat The Customer Right.  Stay Close To The Customer.  Measure/Manage Customer Satisfaction.  Create Switching Costs.  Provide Extras. Brand Loyalty
    • Brand Identity The visible elements of a brand (such as colours, design, logotype, name, symbol) that together identify and distinguish the brand in the consumers' mind.
    • CONNECT WITH US Pinterest Facebook TwitterYouTube LinkedIn Bangalore office #576, 30th Main Road, Banashankari 3rd Stage, Bangalore-560070 Navi Mumbai Gangasagar, Plot no.E-47, Near MSEB, Sector- 12, Kharghar, Navi Mumbai-410210 ……………………………….............