Six Levels of Brand Attributes Benefits Values Culture Personality User
Definitions of Brand Equity “Brand equity is the set of brand assets and liabilities linked to the brand, its name, and symbol, that adds or subtracts value to a product or service for a firm/ or its customers” (David Aaker). “Brand equity is the set of associations that permits the brand to earn greater volume than it would without the brand name” (Marketing Science Institute). “Brand equity is everything the customer walks into the store with” (Peter Farquhar). “A set of associations which are most strongly linked to a brand name” (Andrea Dunham).
Secure users Open non-users Types of Consumers Entrenched users Available consumers users who are not available for conversion, non-users who prefer the brand in question to remain loyal their current choice Average users Ambivalent consumers secure users who are not available for non-users equally attracted to the brand in conversion, committed to the brand question and current choice Unavailable non-users Shallow users Weakly unavailable consumers beginning to show sign of wavering, loyalty below non-users whose preference lies with their average, starting to consider other brands current brand, but not strongly Convertible users Strongly unavailable consumers on the threshold for leaving the brand non-users who have strong preference for their current brandVulnerable users
Why Manage Brand Equity? Presence of a brand in consumers mind Influence on their buying behaviour Effects on brands market position and financial result Financial value of the brand as a immaterial assets of the company
Brand Equity Management Brand Image Consistency Customer Equity R & D Investment