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Garcia chapt9

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Garcia chapt9

  1. 1. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications
  2. 2. Outline <ul><li>Definition of Terms (Brand, Brand equity, Brand promise) </li></ul><ul><li>Creating Brand Equity </li></ul><ul><li>Summary </li></ul>
  3. 3. Concept 1: Branding sets a product apart from the rest Definition Brand Elements Differences in consumer perception KEY:
  4. 4. Concept 1: Branding sets a product apart from the rest <ul><li>Kotler: Marshall Field’s & Macy’s; </li></ul><ul><li>Colonial Williamsburg </li></ul><ul><li>Local: Rustan’s, Shoemart </li></ul><ul><li>RP Medical Application: Belo Essentials, </li></ul><ul><li>The Medical City </li></ul>Definition
  5. 5. Concept 2: Brand equity is the added value of a product or service <ul><li>Key ingredients: </li></ul>Definition Differences in consumer response Perceptions preferences BRAND KNOWLEDGE
  6. 6. <ul><li>Kotler: Apple Computer </li></ul><ul><li>Local: Rustan’s, Powerplant Mall </li></ul><ul><li>RP Medical Application: </li></ul>Concept 2: Brand equity is the added value of a product or service Definition
  7. 7. Concept 3: Brand promise is the vision of the brand for consumers <ul><li>Brand equity is a bridge </li></ul><ul><li>towards the brand’s promise </li></ul>Definition
  8. 8. <ul><li>Kotler: Burger King </li></ul><ul><li>Local: Globe Telecom </li></ul><ul><li>RP Medical Application: </li></ul>Concept 3: Brand promise is the vision of the brand for consumers Definition
  9. 9. Concept 4: Understanding consumer brand knowledge is the foundation of brand equity <ul><ul><li>BRAND </li></ul></ul>Creating Brand equity Thoughts
  10. 10. <ul><li>Kotler: Volvo, Hallmark, Harley-Davidson </li></ul><ul><li>Local: PAL </li></ul><ul><li>RP Medical Application: </li></ul>Concept 4: Understanding consumer brand knowledge is the foundation of brand equity Creating Brand equity
  11. 11. Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity
  12. 12. <ul><li>Kotler: Nike, Avis, Jones Soda, </li></ul><ul><li>The Olive Garden, Eli Lilly </li></ul><ul><li>Local: Shoemart, Shampoo, Havaianas </li></ul><ul><li>RP Medical Application: </li></ul>Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity
  13. 13. Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity Brand Audit Brand-tracking studies
  14. 14. <ul><li>Kotler: none </li></ul><ul><li>Local: Superbrand Awards </li></ul><ul><li>RP Medical Application: </li></ul>Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity
  15. 15. Concept 7: Managing brand equity requires a long-term view of marketing actions Creating Brand equity Brand Reinforcement Brand Revitalization
  16. 16. <ul><li>Kotler: Harley Davidson, Mountain Dew </li></ul><ul><li>Local: Jollibee </li></ul><ul><li>RP Medical Application: </li></ul>Concept 7: Managing brand equity requires a long-term view of marketing act Creating Brand equity
  17. 17. Concept 8: Deciding on how to brand new products is critical in a firm’s branding strategy Creating Brand equity Individual names Separate Family Names Blanket Family Names Corporate + Individual Product Names BRAND RELATIONSHIP CONTINUUM
  18. 18. <ul><li>Kotler: General Mills, Heinz, Sears, Kellogg’s </li></ul><ul><li>Local: Universal Robina Corporation, Lamoiyan Corporation </li></ul><ul><li>RP Medical Application: </li></ul>Concept 8: Deciding on how to brand new products is critical in a firm’s branding strategy Creating Brand equity
  19. 19. Concept 9: Most new products are line extensions Creating Brand equity Positive Feedback New product acceptance
  20. 20. <ul><li>Kotler: Groupe Michelin, Goodyear </li></ul><ul><li>Local: Universal Robina Corporation </li></ul><ul><li>RP Medical Application: UNILAB </li></ul>Concept 9: Most new products are line extensions Creating Brand equity
  21. 21. Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity Multiple brands Multiple segments
  22. 22. <ul><li>Kotler: Armani </li></ul><ul><li>Local: Selecta Ice Cream </li></ul><ul><li>RP Medical Application: </li></ul><ul><ul><li>Executive packages </li></ul></ul><ul><ul><li>Different room rates </li></ul></ul>Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity
  23. 23. <ul><ul><li>Great product or service </li></ul></ul><ul><ul><li>Careful planning and long-term commitment </li></ul></ul><ul><ul><li>Creatively designed and executed marketing </li></ul></ul>Summary: A strong brand commands intense customer loyalty Summary
  24. 24. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications

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