Brand Equity
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  • 1. Managing Brand Equity
  • 2. You can download this presentation at: www.studyMarketing.org Visit www.studyMarketing.org for more presentations on Marketing, Strategy, Innovation, and Branding
  • 3. Brand equity is a set of brand assets and liabilities linked to a brand
  • 4. Elements of Brand Equity: Brand Loyalty Brand Awareness Perceived Quality Brand Associations
  • 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.
  • 6. Brand Loyalty Pyramid Committed Buyer Likes the Brand - Considers it a Friend Satisfied Buyer With Switching Costs Habitual Buyer - No Reason to Change Indifferent – No Brand Loyalty Switchers / Price Sensitive
  • 7. Measuring Brand Loyalty
    • Purchase Behavior Patterns
    • Switching Cost Analysis
    • Satisfaction Measurement
  • 8. Strategic Value of Brand Loyalty
    • Reduce marketing cost
    • Trade (channel distribution) leverage
    • Attracting new customers
  • 9. Enhancing Brand Loyalty
    • Treat the customer right
    • Stay close to the customer
    • Measure/manage customer satisfaction
    • Create switching cost
    • Provide extras
  • 10. Brand Awareness is the ability of a potential buyer to recognize or recall that a brand is a member of a certain product category
  • 11. Brand Awareness Hierarchy Top of Mind Brand Recall Brand Recognition Unaware of Brand
  • 12. Value of Brand Awareness
    • Anchor to which other associations can be attached
    • Familiarity and liking
    • Signal of substance/commitment
    • Brand to be considered
  • 13. How to Achieve Brand Awareness Be different, memorable Involve a slogan or jingle Symbol exposure Publicity Event sponsorship
  • 14. The customer's 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. Perceived Quality
  • 15. What Influences Perceived Quality of Product ?
    • Performance
    • Features
    • Conformance with specifications
    • Reliability
    • Durability
    • Serviceability
    • Fit and finish
  • 16. What Influences Perceived Quality of Service ? Appearance Reliability Competence Responsiveness Empathy
  • 17. The Value of Perceived Quality
    • Reason-to-Buy
    • Differentiate/Position
    • A Price Premium
    • Channel Member Interest
    • Brand Extensions
  • 18. Brand Association A brand association is anything "linked" in memory to a brand. Thus, McDonald's could be linked to a character such as Ronald McDonald, a consumer segment such as kids, a feeling such as having fun, a product characteristic such as service, or a symbol such as the Golden Arches.
  • 19. Some Types of Associations
    • Product Attributes
    • Customer Benefits
    • Relative Price
    • Lifestyle/Personality
    • Celebrity/Person
    • Use/Application
  • 20. The Value of Brand Associations
    • Help Process/Retrieve Information
    • Differentiate/Position
    • Reason-to-Buy
    • Create Positive Attitudes/Feelings
    • Basis for Extensions
  • 21. Maintaining Associations
    • Be consistent over time
    • Be consistent over elements of the marketing program
    • Manage disasters in order to minimize their damage
  • 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 legally
  • 23. Source of Reference: David Aaker, Managing Brand Equity : Capitalizing on the Value of A Brand Name , Free Press