Incorporating the latest industry thinking and developments, this exploration of brands, brand equity, and strategic brand management combines a comprehensive theoretical foundation with numerous techniques and practical insights for making better day-to-day and long-term brand decisions–and thus improving the long-term profitability of specific brand strategies.
2. Introduction
A name becomes a brand when consumers
associate it with a set of tangible and intangible
benefits that they obtain from the product or
service
It is the seller’s promise to deliver the same
bundle of benefits/services consistently to
buyers (Brand Promise
Brand Equity)
3. Steps in the
Strategic Brand Management Process
1.
2.
3.
4.
Identifying and establishing brand positioning
Planning and implementing brand marketing
Measuring and interpreting brand
performance
Growing and sustaining brand value
4. Definition
“A brand is a name, term, sign, symbol or
design, or a combination of them, intended to
identify the goods or services of one seller or
group of sellers and to differentiate them from
those of competitors”
5. Role of Brands
Consumer Benefits
Identify source/maker
Simplifies decision making
Reduces risk
Marketer Benefits
Simplify product handling
Protect unique features
Create loyalty
Establish barriers to entry
6. Advantages of Strong Brands
Improved perceptions of product performance
Greater loyalty
Less vulnerability to competitive marketing
actions
Less vulnerability to crises
Larger margins
More inelastic consumer response
Greater trade cooperation
Increased marketing communications
effectiveness
Possible licensing opportunities
13. Introduction
Brands have financial value because they have
created assets in the minds and hearts of customer,
distributors, prescribers and opinion leaders.
Brand Equity
When a commodity becomes a brand, it is said to have
equity.
The premium a brand can command in the market
The difference between the perceived value and the
intrinsic value
14. Customer-Based Brand Equity
It is the differential effect that brand
knowledge has on consumer response to
the marketing of that brand
A positive CBBE means customers might
be more accepting to the marketing
activities (ie. the marketing mix) for a
brand
18. Brand Equity Framework
Brand Associations: Uniqueness
USP Unique Selling Proposition
Product-related
Image Related
Points of Difference - How brand is unique
Points of Parity - How brand is similar to others
21. CUSTOMER-BASED BRAND EQUITY PYRAMID
4. RELATIONSHIPS =
RESONANCE
What about you & me?
3. RESPONSE =
JUDGMENTS
FEELINGS
What about you?
2. MEANING =
PERFORMANCE
IMAGERY
SALIENCE
21
What are you?
1. IDENTITY =
Who are you?