The document discusses brand equity and its measurement. It defines brand equity as the incremental contribution ($) per year obtained by the brand compared to an unbranded product. Brand equity is driven by consumers' increased choice probability for the branded product. The approach measures three sources of brand equity - brand awareness, attribute perceptions, and non-attribute preferences - and how much each contributes to brand equity directly and indirectly through brand availability. Applying this method provides what-if analysis to predict strategies for enhancing brand equity.
A brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value.
How do you measure your company's Brand Equity?
Using popular marketing resarch methods is not effective enough any more.
I suggest combined research and analytics metology ,which allows you to get a more precise and holistic picture of the brand.
Brand Tracking Studies
What is brand tracking?
Why brand tracking?
Whom to track
When to track
What to track
Brand attributes
Case study iphone 5
Brand Matrices
Model for Brand Tracking
Why brand tracking studies fail
References
A brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value.
How do you measure your company's Brand Equity?
Using popular marketing resarch methods is not effective enough any more.
I suggest combined research and analytics metology ,which allows you to get a more precise and holistic picture of the brand.
Brand Tracking Studies
What is brand tracking?
Why brand tracking?
Whom to track
When to track
What to track
Brand attributes
Case study iphone 5
Brand Matrices
Model for Brand Tracking
Why brand tracking studies fail
References
Brand equity is the added or subtracted value given to a current or potential product or service, influenced by the brand. It is “the differential effect of brand knowledge on consumer response to the marketing of the brand” (Keller, 1993).
Consumers have a perception and desire that a brand will meet their promise of benefits. The higher the perception of value, the higher the premium customers are willing to pay.
An elevated level of positive brand equity requires cooperation between the tangible and intangible aspects of a product or service. The intangible aspects come from a customer’s subjective experiences with a brand, the brand’s uniqueness and personality and ability to stay relevant and build a relationship with loyal customers.
Companies can create brand equity by making products and services memorable, easily recognisable, and superior in quality and reliability.
Marketing is a major driver of brand equity through differentiating products from competing brands. Marketing builds strong brand equity through influencing the brand associations held in a consumer’s mind.
Enhance the strength of your brand by investing in advertising and resist often discounting products. Create a personality for your brand expressed through your marketing mix. The connection a consumer feels with your brand’s personality can define your relationship with customers.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
IPTV Subscription UK: Your Guide to Choosing the Best ServiceDragon Dream Bar
"IPTV Subscription UK" (Internet Protocol Television) has revolutionized the way people watch TV, offering a vast array of channels and on-demand content delivered over the internet. If you’re considering an IPTV subscription in the UK, here’s a comprehensive guide to help you choose the best service for your needs.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
It is therefore essential to employ other water sources, such as river water, for consumption by humans. Commercial RO Plant purifiers manufactured by Netsol Water are necessary because a different type of water is completely unsuitable for human consumption. Large-scale water filtration is accomplished with the assistance of a Noida-based commercial RO plant manufacturer i.e., Netsol Water. It supports several methods for getting rid of all kinds of contaminants in water.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Securing Your Peace of Mind: Private Security Guard Services’Dragon Dream Bar
“Private Security Guards Service” provide a crucial layer of protection for individuals, businesses, and events, ensuring safety and peace of mind in various settings. Here's an overview of what private security guard services entail and how they can benefit you.
1. Brand Management Assignment Brand Equity and Its measurement Submitted by-: Saurabh Singh Enrollment No: 08BS003021 Brand equity is defined as the incremental contribution ($) per year obtained by the brand in comparison to the underlying product (or service) with no brand-building efforts. The incremental contribution is driven by the individual customer’s incremental choice probability for the brand in comparison to his choice probability for the underlying product with no brand-building efforts. The approach takes into account three sources of brand equity—brand awareness, attributes perception biases, and non-attribute preference—and reveals how much each of the three sources contributes to brand equity. This is done by taking into account not only the direct effects of these three sources on choice probabilities, but also the indirect effects through enhancing the brand’s availability. The method provides what-if analysis capabilities to predict the likely impacts of alternative strategies to enhance a brand’s equity. The survey-based results from applying the method to the digital cellular phone market in Korea show that the proposed approach has good face validity and convergent validity, with brand awareness playing the largest role, followed by non-attribute preference. Brand equity studies should measure the following for your brand and each of its competitors, with responses reported separately for different user segments: • Awareness • Convenience/accessibility• Perceived value (including quality and price sensitivity)• Rank in consideration set• Preference• Usage• Relevance• Differentiation• Vitality• Emotional connection• Loyalty• Multiple personality attributes• Other brand associations Brand equity (BE) has become an important issue from a variety of perspectives: mergers and acquisitions, evaluation of strategies (e.g., advertising, promotion, quality improvement) and management (in terms of its impact on value creation, brand extensions, enhancement and exploitation of brand strengths), to mention a few. While there is general consensus that brands are assets and as such need to be managed with a long-term perspective, the meaning of the term brand equity varies. This paper provides a review of extant literature as well as presentations at two MSI brand equity conferences. It also provides a summary list of insights and questions which should provide both managers and researchers with food for thought and directions for future research. The concept of BE subsumes two multi-dimensional concepts-brand strength and brand value. Brand strength is based upon perceptions and behaviors of consumers and distributors that allow the brand to enjoy sustainable and differentiated competitive advantages. Brand value depends on management's ability to leverage brand strength via tactical and strategic actions to provide superior current and future profits and lowered risks. Thus much of BE may be latent unless exploited. Management of brand equity requires a focus on both consumers and distributors. While brand managers have traditionally focused their efforts on consumers in the pursuit of market share and profits, the role of distributors in the marketing system is becoming increasingly important. Distributors control product availability and also play a key role in delivering value to the consumer-especially in product categories such as durables for which attendant services may be critical. Because brand managers are often under pressure to deliver short-term profits, they are prone to focus on marketing tactics that exploit brand strengths to produce operating profits rather than on strategic investments that enhance BE. In order to get managers to focus on the latter, it may be necessary to treat some brand expenditures (such as image-building advertising) as capital expenses and to evaluate their effects over a longer time frame. If marketing managers are expected to create value, then managerial control systems should be based on measures of value. It is therefore important to link measures of brand strength to financial performance. Marketing models can provide the building blocks for developing cash flow projections, the basic ingredient for financial valuation. “Brand equity” represents a relevant research line in marketing. This concept has undergone an important evolution in its understanding and in the variables that comprise it. Brand equity was born a simple construct in the late 1980’s, with a single variable meaning changed according to each author: the additional price a consumer is willing to pay for a brand; the extension capacity of a brand; the financial value of a brand as an intangible asset; or its capacity for generating loyalty among consumers . Nowadays, brand equity has to be understood as “brand equity based on the consumer” (consumer brand equity), a multidimensional construct composed of various components: (1) Willingness to pay an overprice for the brand (2) Satisfaction with the experience towards the brand (3) Manifest loyalty towards the brand (4) Perceived quality of the brand (5) Perceived leadership (innovation capacity) of the brand (6) Perceived functional benefit , capacity of the brand (7) Self expression (identification) the brand provides for the consumer Taking into account that distinct brands can yield different values for each of these components we have the basis to talk about not only brand equity, but to begin talking about a “brand equity profile” instead. This means each brand can have a specific combination of component values, hereto called “brand equity profile ”. The Benefits of “brand equity” Consumers have different reactions before the commercial activity, in the presence ofknown brands and before unknown ones. A real brand equity for a consumer is brought forward from the relevant knowledge of the brand with a set of favorable associations in a given purchase decision context. The brand generates real value for the consumer when the brand is perceived in a differentiable, special and attractive manner from other rival brands. When brand value is generated for the consumer, benefits can be expected for the company that owns the brand. Briefly, this creation of value has benefits such a 4 s: allowing generating greater loyalty from the costumers by increasing the value offered to them; Allows for a reduced vulnerability to strategic marketing moves by competitors and market crises; reduces the elasticity of demand facing a price increase as a result of the overprice a consumer is willing to pay for a brand that offers a greater value: helps generate trust and support from the distribution channels already stimulated to work with higher value brands. Sponsoring products with higher value brands allows for increased effectiveness of the communication efforts directed towards the consumer, because a recognizable and valuable element is attached to them. Higher value brands usually possess broader umbrella effects that allow for more successful brand extensions by transferring the perceived brand value towards the new business entities. With the brand overpricing, companies can manage ampler profit margins than other competitors with lesser value brands. This last argument concentrates all the relevance related to the strategic management of brands and justifies the marketing management based on “brand equity”. This relevance stems from the increased margins of profit that companies with greater relative market share tend to generate, and at the same time it is these market leaders who generally own the greater value brands in their industrial sectors. David Arnold demonstrates this argument when he talks about three principles of brand performance: First, there is evidence to assert that the market leaders tend to receive such advantage as a result of generating brands with grater “perceived quality” , and not solely due to the inherent quality of their products, thus making this “perceived quality” one of the key aspects to maintain market leadership. Having achieved this leadership, additional benefits can be attained, such as greater negotiation power with customers and clients. Second, although leading companies in the market tend to be businesses with greater efficiency production systems based in economies of scale, when approached on a casetocase basis, it seems that it was the greater perceived quality brands which allowed their companies to overtake their competitors and then be at ease to implement these more efficient production systems. Thus, the leading companies’ superior profit comes from a more efficient cost structure and from a greater competitive power that allows them to implement superior pricing. This advantage of being able to handle higher process derives directly from the superior value of their brands. Last, greater perceived quality brands provide a long term competitive advantage for the companies, because, if maintained adequately, they are not subject to a product life cycle. Brands can outlast heir products if renewed and modified in their associated perceptions to maintain their validity in loyal consumer groups. Well managed brands must be understood as tools to establish long term relationships with clients .The composition of brand equity is complex. It is known that a buyer is willing to pay an overprice for a product bearing a high perceived value brand, although the value of this same brand is influenced to a great degree by the quality of the product it sponsors. Thus, it is difficult to separate perceived brand quality and inherent product quality. Osselear and Alba 9 analyze the effects that learning the perceived brand characteristics has on the learning of the product’s characteristics. They conclude that highly recognized brands wield a blockage in the learning of the product’s characteristics, caused by a previous learning of the characteristics associated with the brand. The concept of “learning blockage” that the characteristics attributed to the brand exert over the product’s characteristics is complemented with the “umbrella brand effect.” This suggests that, given the low degree of knowledge the consumers have about the products they are about to purchase, the brand works as a protective halo for the product, indicating to the consumer probable characteristics in the product, hence reducing considerably the perceived risk in acquiring the product. In this cited study, an empirical model which permits to understand the process through which the quality perception of a brand in a particular product category affects the perceived quality of another product category under the same brand, establishing the capacity of the brand to be used in a possible extension. Other effects of the brand over the consumer and the purchase process include: cueing search, use, quality attributes, and encouraging loyalty . These effects allow for the brand to perform as a mediating element between the consumer and its product, as a barrier protecting both. On one side, it protects the consumer from perceived risk and the intensity of the information search process for the acquisition of the product, providing additionally a sense of belonging. On the other side, brands protect the product by matching the favorable characteristics of the brand to it. This last point is only valid in those cases where the perceived quality and the brand image are indeed favorable. If this is not the case, and the brand is associated with low quality or simply with some very different categories from that of the product, this intermediation barrier begins to work in detriment of both parts. David Aaker establishes four factor categories that determine brand equity: brand name recognition, brand loyalty, perceived quality, and brand associations . These groups of variables are relevant to the relation of the consumer with its brands. Paul Feldwick 15 brings to notice that terms which become popular such as “brand equity”, can actually assume a great variety of meanings, and rather than trying to reach agreements about the true meaning they must have, it is better to be conscious that if can mean different things, and so trying to avoid unnecessary confusion. Feldwick states that the term brand equity is used in three distinct senses: financial value of the brand, market strength and brand image. Of these three meanings, the first one varies amply from the other two; it can be seen as a notion regarding the commercial exchange of assets among businesses. On the other hand the second and third meanings refer directly to the consumer, which makes them more relevant in marketing research. These two senses can be encompassed in the term “consumer brand equity”, according to Feldwick, or “consumer based brand equity”, according to Kevin Keller. These last two terms constitute what is meant in the present article as “brand equity”. Towards an operational definition of brand equity Aaker talks about ten dimensions or components to measure brand equity Building Brand Equity through Advertising: Learning from Brand Equity Research to Build Ads That Build Brands: Years of research have shown that consumer perceptions and attitudes - measured collectively, and commonly described as consumer Brand Equity - have a direct relationship to a brand's market position and business results. Marketers rely on advertising as one primary tool to develop and nurture Brand Equity. This paper will share some findings that look at advertising, as a contributor to Brand Equity - specifically, how Brand Equity measures can contribute to the development and evaluation of advertising at the pretest stage, in a copy test. Measuring Brand Equity: Our measure of Brand Equity comes from a model that uses a handful of standardized attitude measures that are generalizable across brands, business sectors, and markets. In a study representing 200 different brands from 40 different product and service categories, comprising over 12,000 consumer interviews for over 200,000 individual brand assessments, these measures have been validated in relation to market variables and business outcomes - what we like to call
Brand Health.
Advertising and Brand Equity: This begs the question:
If Equity drives the Brand, what drives Equity?
We went looking for answers in a follow up study that we reported at last year's Week of Workshops3. This study was more focused than the first one, concentrating on 79 brands from 20 different categories of FMCGs with a relatively high penetration - in all; over 2,700 consumers gave more than 10,000 brand assessments. Each brand was rated on our five Equity dimensions, and also on several factors that we thought should contribute to Brand Equity - including perceptions of the advertising. Specifically, we asked whether they recalled advertising for the brand and if so, whether they felt the advertising had a favorable impact on their opinion of the brand. Conclusion Clients increasingly demand business-building ideas that extend beyond advertising and communications. Ad agency brand planners, branding consultants, and other marketing services providers are being pushed to become wider and deeper thinkers than they were in the past. Quantitative brand measurement techniques such as those discussed here can be used effectively to help marketers manage brands, and can also drive insights that lead to the big ideas that clients seek.