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Brand Equity
 

Brand Equity

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    Brand Equity Brand Equity Presentation Transcript

    • Brand Equity
    • Definitions
      • Measurable financial value that accrues to a product/service from successful programs & activities – Walker & Yankelovich
      • A set of brands assets & liabilities linked to the brand’s name, symbol that add or subtract from the value it provides – David Aaker
    • Definitions
      • The differential effect of
      • brand knowledge on consumer response to the marketing of the brand
    • Brand Equity- Advantages
      • Brand equity as a bridge
      • Reflection of the Past
      • Direction for the future
      • Focus and Guidance
    • Sources of Brand Equity
      • Brand Awareness- recognition & recall
      • Learning advantages
      • Brands become part of the consideration set
      • Affects Choices of consumers
    • Sources of Brand Equity
      • Brand Image & Association- link strong favorable unique associations to the brand
      • Strength of brand association- attributes (descriptive features of product) & benefits (personal value & meaning attached to product)
      • Favorability – relevant, distinct, belief
      • Uniqueness – points of parity & points of difference
    • Consumer Based Brand Equity
      • CBBE – differential effect that brand knowledge has on the consumers response to the marketing of that brand.
      • 3 key elements
      • Differential effect
      • Brand knowledge
      • Consumer response to marketing
      • Power of the brand lies in the mind of the consumers.
    • CBBE Pyramid Brand Salience Consumer- Brand Resonance Consumer Judgment Consumer Feelings Brand Performance Brand Imagery 4 Bond – Strong relationship 1 Broad Awareness 2 Differentiators 3 Emotional and Intellectual influence
    • Sub-dimensions of brand building blocks Salience Resonance Judgments Feelings Performance Imagery Loyalty Attachment Community Engagement Quality Credibility Consideration Superiority Warmth, Fun Excitement, Security, Social Approval, Self-Respect 4 Brand Relationships (WHAT About You AND ME?) 1 Brand Identity (WHO Are You?) 2 Brand Meaning (WHAT Are You?) 3 Brand Response (WHAT About You?) User Profiles Purchase and Usage Situations Personality & Values History, Heritage, & Experiences Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency, & Empathy Style and Design; Price Category Identification Needs Satisfied
    • 4 Steps to Brand building
      • Identify the brand with customers based on need or product class
      • Brand Meaning in the minds of customers by linking tangible &intangible to the brand
      • Response
      • Relationship
    • Brand Pyramid
      • Identity
      • Salience -
      • Category Identification
      • Need Satisfaction
    • Brand Pyramid
      • Meaning
      • Performance –
      • Product Reliability, durability, serviceability
      • Service effectiveness, efficiently, empathy
      • Style & design
      • Price
    • Brand Pyramid
      • Meaning
      • Imagery-
      • User profiles
      • Usage situations
      • Personality & Values
      • History & experiences
    • Brand Pyramid
      • 3. Response
      • Judgments-
      • Quality
      • Credibility
      • Consideration
      • Superiority
      • Feelings-
      • Warmth
      • Fun
      • Excitement
      • Security
      • Self Respect
      • Social Approval
    • Brand Pyramid
      • 4. Relationships
      • Resonance-
      • Loyalty
      • Attachment
      • Community- Apple, Harley Davidson
      • Engagement – clubs-Gang of Girls, MTV, WOM by customers themselves
    • Building Customer-Based Brand Equity
      • Brand building tools and objectives
      2. Consumer knowledge effects 3. Branding Benefits
    • 1. Brand building tools and objectives
      • Choose Brand Elements
      • Brand name
      • Logo
      • Symbol
      • Character
      • Packaging
      • Slogan
        • Memorability
        • Meaningfulness
        • Likability
        • Transferability
        • Adaptability
        • Protectability
    • Brand building tools and objectives
      • Developing Marketing Programs
      Product Price Distribution Channels Communications
        • Tangible and intangible
        • benefits
        • Value Perceptions
        • Integrate “Push” & “ Pull”
        • Mix and match options
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Brand building tools and objectives
      • Leverage on secondary associations
      Company Country of origin Channels of Dist. Other Brands Endorse or Event
        • Awareness
        • Meaningfulness
        • Transferability
    • Consumer Knowledge Effects
      • Brand Awareness
        • Depth
          • Recall
          • Recognition
        • Breadth
          • Purchase
          • Consumption
      • Brand Associations
        • Strong
          • Relevance
          • Consistence
        • Favorable
          • Desirable
          • Deliverable
        • Unique
          • Points of parity
          • Points of difference
    • Possible outcomes
      • Greater Loyalty
      • Less vulnerability to competitive marketing actions and crises
      • Larger Margins
      • More elastic response to price decreases
      • More inelastic response to price increases
      • Greater trade cooperation and support
      • Increased marketing communication efficiency and effectiveness
      • Possible Licensing opportunities
      • More favorable brand extension evaluations
    • Managing Customer Brand Equity
      • Define Brand hierarchy
      • Define Brand- Product mix
      • Enhance Brand Equity over time
      • Establish B.E. over market segments
    • Managing Customer Brand Equity
      • Define Brand hierarchy
        • Principle of Simplicity
        • Principle of relevance
        • Principle of differentiation
        • Principle of prominence
        • Principle of commonality
    • Managing Customer Brand Equity
      • Define Brand- Product mix
        • Brand extensions
        • Brand Portfolio
    • Managing Customer Brand Equity
      • Enhance Brand Equity over time
        • Brand Reinforcements
        • Brand revitalization
    • Managing Customer Brand Equity
      • Establish B.E. over market segments
        • Identify differences in consumer behavior
        • Adjust Branding program