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Brand Equity


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Brand Equity

  1. 1. Marketing Management, 12/e A South Asian Perspective 10 Creating Brand Equity… Vikas sarolia
  2. 2. Chapter Questions… <ul><li>What is a brand and how does branding work? </li></ul><ul><li>What is brand equity? </li></ul><ul><li>How is brand equity built, measured, and managed? </li></ul><ul><li>What are the important decisions in developing a branding strategy? </li></ul>
  3. 3. Brand… A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors
  4. 4. Attributes of Strong Brands… <ul><li>Excels at delivering desired benefits </li></ul><ul><li>Stays relevant </li></ul><ul><li>Priced to meet perceptions of value </li></ul><ul><li>Positioned properly </li></ul><ul><li>Communicates consistent brand messages </li></ul><ul><li>Well-designed brand hierarchy </li></ul><ul><li>Uses multiple marketing activities </li></ul><ul><li>Understands consumer-brand relationship </li></ul><ul><li>Supported by organization </li></ul><ul><li>Monitors sources of brand equity </li></ul>
  5. 5. The Role of Brands… <ul><li>Identify the maker </li></ul><ul><li>Simplify product handling </li></ul><ul><li>Organize accounting </li></ul><ul><li>Offer legal protection </li></ul><ul><li>Signify quality </li></ul><ul><li>Create barriers to entry </li></ul><ul><li>Serve as a competitive advantage </li></ul><ul><li>Secure price premium </li></ul>
  6. 6. Branding… Endowing products and services with the power of a brand.
  7. 7. Brand Equity… The differential effect that brand knowledge has on consumer response to the marketing of that brand.
  8. 8. Brand Associations…
  9. 9. Marketing Advantages of Strong Brands… <ul><li>Improved perceptions of product performance </li></ul><ul><li>Greater loyalty </li></ul><ul><li>Less vulnerable to competition </li></ul><ul><li>Less vulnerable to crises </li></ul><ul><li>Larger margins </li></ul><ul><li>Inelastic consumer response to price increases </li></ul><ul><li>Elastic consumer response to price decreases </li></ul><ul><li>Greater trade cooperation </li></ul><ul><li>Increase in effectiveness of IMC </li></ul><ul><li>Licensing opportunities </li></ul><ul><li>Brand extension opportunities </li></ul>
  10. 10. Brand Promise… The marketer’s vision of what the brand must be and do for Consumers.
  11. 11. Brand Equity Models…
  12. 12. Drivers of Brand Equity…
  13. 13. Brand Elements… <ul><li>Brand names </li></ul><ul><li>Slogans </li></ul><ul><li>Characters </li></ul><ul><li>URLs </li></ul><ul><li>Logos </li></ul><ul><li>Symbols </li></ul>
  14. 14. Brand Element Choice Criteria… <ul><li>Memorable </li></ul><ul><li>Meaningful </li></ul><ul><li>Likeability </li></ul><ul><li>Transferable </li></ul><ul><li>Adaptable </li></ul><ul><li>Protectable </li></ul>
  15. 15. Slogans… <ul><li>The Complete man </li></ul><ul><li>Just do it </li></ul><ul><li>Nothing runs like a Deere </li></ul><ul><li>The Joy of Flying </li></ul><ul><li>God’s Own Country </li></ul><ul><li>We try harder </li></ul><ul><li>Innovation at work </li></ul><ul><li>This Bud’s for you </li></ul><ul><li>Always low prices </li></ul>
  16. 16. Measuring Brand Equity…
  17. 17. Interbrand’s Brand Equity Formula…
  18. 18. Managing Brand Equity…
  19. 19. Devising a Branding Strategy…
  20. 20. Branding Terms… <ul><li>Brand line </li></ul><ul><li>Brand mix </li></ul><ul><li>Brand extension </li></ul><ul><li>Sub-brand </li></ul><ul><li>Parent brand </li></ul><ul><li>Family brand </li></ul><ul><li>Line extension </li></ul><ul><li>Category extension </li></ul><ul><li>Branded variants </li></ul><ul><li>Licensed product </li></ul><ul><li>Brand dilution </li></ul><ul><li>Brand portfolio </li></ul>
  21. 21. Brand Naming…
  22. 22. Brand Roles in a Brand Portfolio…