A brand is a name, symbol or design that identifies a seller's goods/services and differentiates them from competitors. It comprises tangible attributes like packaging and intangible attributes like quality and image. Brand identity is the marketer's promise to consistently deliver certain features/benefits. Building a brand involves activities to nurture it into a profitable stream, like product development, advertising, and distribution. Brand equity refers to the premium value a brand commands over intrinsic product value. High brand equity gives companies leverage, ability to charge premiums, and defend against competition. Building strong brands involves distinguishing them through a clear value proposition and delivering brand promises to meet/exceed customer expectations.
2. What is a brand?
A brand is a name, term, sign,
symbol, design or a combination
of the above to identify the
goods or service of a seller and
differentiate it from the rest of the
competitors
11. What is brand equity?
The premium it can command in the
market
Difference between the perceived value
and the intrinsic value
12. What happens when equity
increases?
Commodity Brand Power Brands
Presence
+
Personality
13. What happens when brands
have high equity?
The company can have more leverage
with the trade
The company can charge a premium on
their product
The company can have more brand
extensions
The company can have some defense
against price competition
14. Brand Loyalty Pyramid
Committed buyer
Likes the brand. Considers
it a friend
Satisfied buyer. Would
incur costs to switch
Satisfied buyer/no
reason to change
Switchers/Price
sensitive
1
1
1
15. How does one build brands?
Distinguishing it from others – value
proposition
Brand promise must match brand
delivery
17. Creating the brand
Choosing a brand name
Develop rich associations and promises
Managing customer brand contact to
meet and exceed expectations
18. Considerations in choosing a
brand name
What does the brand name mean?
What associations / performance /
expectations does it evoke ?
What degree of preference does it
create?
19. A brand name should indicate
Product benefits
Product quality
Names easy to
remember,
recognise,
pronounce
Product category
Distinctiveness
Should not indicate
poor meanings in
other markets or
languages