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Brand Equity is not increasingly important in todays business
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Brand Equity is not increasingly important in todays business

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Brand Equity is not increasingly important in todays business Brand Equity is not increasingly important in todays business Presentation Transcript

  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS DEFINITION OF AS IMPORTANT RELATIONSHIP OFBRAND EQUITY, IT’S TODAY AS IT HAS BRAND EQUITY TO COMPOSING EVER BEEN BEFORE BUSINESS PROPERTIES TODAY *MARKET SHARE *FINANCIAL ASSET *TECHNOLOGY *INTERMEDIARIES WHAT IS INCREASINGLY IMPORTANT IN TODAYS BUSINESS *PRODUCT / SERVICE QUALITY *FURTHER STUDY *REFERENCES References always noted here in footer
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS ”MOST ACADEMIC MARKETING RESEARCH OVER THE 30 YEARS COULD REASONABLY CLAIM TO BE ABOUT AN ASPECT THAT IS ENCOMPASSED BY „BRAND EQUITY‟ AS A TERM, INCLUDING CONSUMER ATTITUDES, MARKET SHARE, BRAND CHOICE BEHAVIOUR. ALL RESEARCH IN MARKETING, MUCH OF IT RELEVANT TO BRAND EQUITY-WOULD HAVE HAPPENED AND WOULD CONTINUE TO HAPPEN IF NO-ONE HAD COINED THE TERM “BRAND EQUITY” (BARWISE 1993).KEY CONCLUSION 1: THE COMPONENTS, WHICH ENCOMPASS BRAND EQUITY, ARE ASIMPORTANT TO TODAY‟S BUSINESS AS THEY HAVE BEEN TO BUSINESSES IN THE PAST. Reference: (Barwise 1993)
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS COMPONENTS OF BRAND EQUITY1 BRAND VALUE BRAND EQUITY AS A FINANCIAL ASSET & VALUATION“BRAND BRAND STRENGTHEQUITY” STRENGTH OF THE CONSUMER ATTACHMENT TO A BRAND BRAND DESCRIPTION CONSUMER ATTITUDES TOWARDS A BRAND References: Feldwick. P (2009), View slide
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS COMPONENTS OF BRAND EQUITY BRAND VALUE 1. EQUITY RELATIONSHIP W/ MARKET SHARE, 2. FINANCIAL ASSET & VALUATION“BRAND METHODOLOGIESEQUITY” BRAND STRENGTH 3. TECHNOLOGY CONSUMER BEHAVIOR 4. INFORMATION & INTERMEDIARIES BRAND DESCRIPTION 5. BUYER EXPECTATIONS (PRODUCT) References: Feldwick. P (2009), View slide
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESSMARKET SHARE 94 MILLION 62 MILLION 65 MILLIONKEY CONCLUSION 2: INVESTMENT IN MARKETING TO INCREASE BRAND EQUITY IS NOTGUARANTEED TO INCREASE BRAND SHARE (AND AS A RESULT REVENUE). HOWEVER, ADRAMATIC STRATEGIC SHIFT IS (SUCH AS NEW PRODUCT/PRODUCT FEATURES). References: Graham (2009), Hill (2009), Kapferer (2012), Wharton (2009), image credit – www.cnet.com
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESSFINANCIAL ASSET$44BN $114BN 2010 VALUE? References:
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS FINANCIAL ASSET $44BN $114BN 1 2KEY CONCLUSION 3: BRAND EQUITY VALUATIONS AS AN INTANGIBLE BUSINESS ASSETARE INCONSISTENT - DUE TO DIFFERING MODELSTHE VALUE OF A BRAND AS A FINANCIALASSET WAS IMPORTANT BEFORE BRAND EQUITY AS AN ENCOMPASSING PHRASE ROSE TOPROMINENCE. References (& image credits): 1 Interbrand. (2012).2. Millward Brown. (2012).
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS COMPONENTS OF BRAND EQUITY BRAND VALUE 1. EQUITY RELATIONSHIP W/ MARKET SHARE, 2. VALUATION METHODOLOGIES“BRAND BRAND STRENGTHEQUITY” 3. TECHNOLOGY CONSUMER BEHAVIOR 4. INFORMATION & INTERMEDIARIES BRAND DESCRIPTION 5. BUYER EXPECTATIONS (PRODUCT) References: Feldwick. P (2009),
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS CONSUMER BEHAVIOR & TECHNOLOGY CHANGE IN ATTITUDE FACILITATED BY TECH I N NO REWARD FOR T LOYALTY E R M INFLUENCE FROM PEERS E D PRICE I A R SEARCH FOR PRODUCT I FEATURE/NEED MORE E THAN BRAND S References: Hill (2009), Keller (2008), image credit - http://traceyalenepi.wordpress.com/
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS INFORMATION & INTERMEDIARIES ” BRANDS ARE AN IMPERFECT MECHANISM FOR ASSURING PRODUCT QUALITY (WARD 2000). THE INTERNET [HAS BECOME] MORE INTERACTIVE AND THE PREFERRED SOURCE OF INFORMATION (RICHARD 2009).KEY CONCLUSION 4: THE PATH TO BRAND RESONANCE, THE OVERALL OBJECTIVE OFBRAND EQUITY (KELLER 2008), IS DISRUPTED/INTERRUPTED AT EACH STAGE BY A NEWFACTOR PRESENTED BY CONSUMER BEHAVIOUR SURROUNDING NEW TECHNOLOGY. References: Richard (2009), Soloman (2010), Ward 2009), Williams, E (2009), Image credits – www.creativereview.co.uk
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS COMPONENTS OF BRAND EQUITY BRAND VALUE 1. EQUITY RELATIONSHIP W/ MARKET SHARE, 2. VALUATION METHODOLOGIES“BRAND BRAND STRENGTHEQUITY” 3. TECHNOLOGY CONSUMER BEHAVIOR 4. INFORMATION & INTERMEDIARIES BRAND DESCRIPTION 5. BUYER EXPECTATIONS (PRODUCT) References: Feldwick. P (2009),
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS PRODUCT QUALITYKEY CONCLUSION 5: IT IS NOW WIDELY ACCEPTED THAT THE BRAND CAN LASTINDEFINITELY IF THE FIRM MAINTAINS ITS CUSTOMER VALUE VIA CONTINUOUSINVESTMENT IN THE QUALITY OF THE PRODUCT (BARWISE 1993). References: Barwise (1993), Hill (2009), Keller (2008), image credits – www.jaguar.com, www.bangernomics.com
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS COMPONENTS OF BRAND EQUITY BRAND VALUE 1. EQUITY RELATIONSHIP W/ MARKET SHARE, 2. VALUATION METHODOLOGIES“BRAND BRAND STRENGTHEQUITY” 3. TECHNOLOGY CONSUMER BEHAVIOR 4. INFORMATION & INTERMEDIARIES BRAND DESCRIPTION 5. BUYER EXPECTATIONS (PRODUCT) References: Feldwick. P (2009),
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS PRODUCT QUALITY ” “TODAY, A BRAND IS DEFINED BY REPUTATION, AND A BRAND‟S REPUTATION—MUCH LIKE A PERSON‟S—CAN CHANGE QUICKLY.” (FORMOSA 2012) References: Formosa (2012)
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS ” MOST ACADEMIC MARKETING RESEARCH OVER THE 30 YEARS COULD REASONABLY CLAIM TO BE ABOUT AN ASPECT THAT IS ENCOMPASSED BY „BRAND EQUITY‟ AS A TERM, INCLUDING CONSUMER ATTITUDES, MARKET SHARE, BRAND CHOICE BEHAVIOUR. ALL RESEARCH IN MARKETING, MUCH OF IT RELEVANT TO BRAND EQUITY-WOULD HAVE HAPPENED AND WOULD CONTINUE TO HAPPEN IF NO-ONE HAD COINED THE TERM “BRAND EQUITY” (BARWISE 1993). Reference: (Barwise 1993)
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS ① THE COMPONENT PARTS OF BRAND EQUITY ARE AS IMPORTANT NOW THAN THEY EVER HAVE BEEN. ② BRAND EQUITY IS NOT GUARANTEED TO IMPACT MARKET SHARE THE ONLY APPROPRIATE MEASURE OF A BRAND’S EQUITY OR VALUE (HILL 2009). ③ BRAND VALUATION METHODOLOGIES ARE INCONSISTENT, BUT BRAND EQUITY AS A FINANCIAL ASSETIS AS IMPORTANTFOR TODAY’S BUSINESS, AS PREVIOUS. ④ THE PATH TO BRAND RESONANCE, THE OVERALL OBJECTIVE OF BRAND EQUITY (KELLER 2008), IS DISRUPTED/INTERRUPTED AT EACH STAGE BY A NEW FACTOR PRESENTED BY SHIFTING CONSUMER BEHAVIOUR SURROUNDING NEW TECHNOLOGY. ⑤ SUGGESTION: PRODUCT QUALITY AND EXCELLENCE IS INCREASINGLY IMPORTANT BUSINESS INVESTMENT References: Hill (2009), Keller (2008)
  • BRAND EQUITY IS NOT INCREASINGLY IMPORTANT IN TODAYS BUSINESS REFERENCESBarwise, P. (1993). Brand equity: Snark or Boojum?. Intern. J. of Research in Marketing. 10 Keller, K (2008). Strategic brand management: building, measuring, and managing brand (1), 93-104. equity. University of California: Prentice Hall. 1-67.Boston Consulting Group. (2012). Clicks Grow Like BRICS: G-20 Internet Economy to Expand at Millward Brown. (2012). Methodology. Available: 10 Percent a Year Through 2016. Available: http://www.millwardbrown.com/BrandZ/Default/Methodology.aspx. Last accessed http://www.bcg.com/media/PressReleaseDetails.aspx?id=tcm:12-100468. Last accessed 19/03/12. 19/03/12. Pachal, P. (2012). 4 Big Moves Google Should Make in 2012. Available:Brashear, T, Kashyap, V, Musante, M, &Donthu, N 2009, A PROFILE OF THE INTERNET http://mashable.com/2012/01/02/google-big-moves-2012/. Last accessed 21/03/12. SHOPPER: EVIDENCE FROM SIX COUNTRIES, Journal Of Marketing Theory & Practice, 17, 3, pp. 267-281, Business Source Premier Richard, M, Chebat. JC, Yang. Z, Putrevu. S. (2009). A proposed model of online consumer behavior: Assessing the role of gender. Journal of Business Researc. 63 (9-10), 926-934.Faircloth, J, Capella, L, & Alford, B 2001, THE EFFECT OF BRAND ATTITUDE AND BRAND IMAGE ON BRAND EQUITY, Journal Of Marketing Theory & Practice, 9, 3, p. 61, Business Source Ritson, M. (2011). Brand valuations do not always tell the full story. Available: Premier http://www.marketingweek.co.uk/brand-valuations-do-not-always-tell-the-full- story/3030524.article. Last accessed 17/03/12.Feldwick, P. (1996). What is brand equity anyway, and how do you measure it? Journal of Market research. 38(2), 85-104. Soloman, M (2010). Consumer Behavior: A european perspective. 3rd ed. Essex: Pearson Education Ltd. 252-256.Flynn, J. (1994) "Is the Jinx Finally Off Jaguar?" Business Week, October 10, 1994, p. 62. Available: http://www.businessweek.com/archives/1994/b339372.arc.htm Ward, M, Lee. M. (2000). Internet shopping, consumer search and product branding. Journal of Product & Brand Management. 9 (1), 6-20.Formosa, D. (2012). The sudden death of brands. Available: http://smartdesignworldwide.com/thinking/money-matters/the-sudden-death-of-brands/. Wharton. (2007). The Myth of Market Share: Can Focusing Too Much on the Competition Last accessed 18/03/2012. Harm Profitability?. Available: http://knowledge.wharton.upenn.edu/article.cfm?articleid=1645. Last accessed 24/03/12.Graham, C. (2009). Whats the point of Marketing anyway? The prevalance, temporal extent and implications of long-term market share equilibrium. Journal of Marketing Management. Whitney, L. (2011). Bing grabs market share from Google over past year. Available: 25 (9-10), 867-874. http://news.cnet.com/8301-10805_3-20072914-75/bing-grabs-market-share-from-google- over-past-year/. Last accessed 21/03/12.Godin, S (2007). Permission Marketing. US: Pocket Books. 43-56. Williams, E. (2009). Dixons gets honest. Available: http://www.creativereview.co.uk/cr-Hill, C (2009). Marketing Communications. 5th ed. Essex: Prentice Hall. 355-409. blog/2009/september/dixons. Last accessed 25/03/12.Interbrand. (2012). Methodology. Available: http://www.interbrand.com/en/best-global- brands/best-global-brands-methodology/Overview.aspx. Last accessed 19/03/12.Kapferer, J (2012). The New Strategic Brand Management: Advanced Insights and Strategic Thinking. 5th ed. London: Kogan Page. 7-29.
  • IS BRAND EQUITY INCREASINGLY IMPORTANT IN TODAYS BUSINESS? FURTHER STUDY•BRAND EXTENSIONS – THE ROLE OF BRAND EQUITY IN EXTENDING INTO A NEWPRODUCT LINE• ADDITIONAL VALUATION METHODS – Y&R, AAKER, KOZINETS• THE IMPACT OF INFLUENCE & SOCIAL MEDIA ON CONSUMER ATTITUDESTOWARDS BRANDS