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Brand Equity Ppt

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Brand Equity Ppt

  1. 1. Raj Mohan and Ranjith
  2. 2. Brand Equity/Raj Mohan And Ranjith A brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” :-American Marketing Association
  3. 3. Brand Equity/Raj Mohan And Ranjith A product is something that is made in a factory; a brand is something that is bought by a customer. A product can be copied by a competitor, a brand is unique. A product can be quickly outdated; a successful brand is timeless. A brand is something that resides in the minds of consumer.
  4. 4. Brand Equity/Raj Mohan And Ranjith Name Term Symbol Design Combination Identifies product/service of seller and differentiates from competitors Sign A Brand Is……….
  5. 5. The Role Of Brand Brand Equity/Raj Mohan And Ranjith <ul><li>Consumers </li></ul><ul><ul><li>Identification of the source of product </li></ul></ul><ul><ul><li>Assignment of responsibility to product maker </li></ul></ul><ul><ul><li>Risk reducer </li></ul></ul><ul><ul><li>Search cost reducer </li></ul></ul><ul><ul><li>Promise, bond, or pact with maker of product </li></ul></ul><ul><ul><li>Symbolic device </li></ul></ul><ul><ul><li>Signal of quality </li></ul></ul>
  6. 6. Brand Equity/Raj Mohan And Ranjith <ul><li>Manufacturers </li></ul><ul><ul><li>Means of identification to simplify handling or tracing </li></ul></ul><ul><ul><li>Means of legally protecting unique features </li></ul></ul><ul><ul><li>Signal of quality level to satisfied customers </li></ul></ul><ul><ul><li>Means of endowing products with unique associations </li></ul></ul><ul><ul><li>Source of competitive advantage </li></ul></ul><ul><ul><li>Source of financial returns </li></ul></ul>
  7. 7. Brand Equity/Raj Mohan And Ranjith Brand equity is the added value that endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share and profitability that the brand commands for the firm. Brand equity is an important intangible asset that has psychological and financial value to the firm.
  8. 8. Brand Equity/Raj Mohan And Ranjith Brand equity
  9. 9. Brand Equity/Raj Mohan And Ranjith
  10. 10. Brand Equity/Raj Mohan And Ranjith
  11. 11. Brand Equity/Raj Mohan And Ranjith <ul><li>The brand is viewed from the perspective of the customer, an individual or an organization. </li></ul><ul><li>The power of the brand lies in what customers have seen, read, heard, learned, thought and thought about the product over time. </li></ul><ul><li>A brand is said to have positive customer brand equity when consumers react favorably to a product. </li></ul><ul><li>A brand is said to have negative brand equity if consumers react less favorably to the product. </li></ul>
  12. 12. Brand Equity/Raj Mohan And Ranjith Brand equity model s <ul><li>Brand Asset Valuator: </li></ul><ul><li>Developed by Advertising agency Young and Rubicam(Y&R). </li></ul><ul><li>According to BAV there are four pillars of brand equity:- </li></ul><ul><li>Differentiation </li></ul><ul><li>Relevance </li></ul><ul><li>Esteem </li></ul><ul><li>Knowledge </li></ul><ul><li>Differentiation and relevance point to the brands future value and Esteem and acknowledge reflects the past performance of the firms. </li></ul>
  13. 13. Brand Equity/Raj Mohan And Ranjith <ul><li>Aaker Model : </li></ul><ul><li>Viewed by UC-Berkeley professor David Aaker. </li></ul><ul><li>There are a set of five categories of brand assets and liabilities which add value to the product. </li></ul><ul><li>They are: </li></ul><ul><li>Brand loyalty </li></ul><ul><li>Brand awareness </li></ul><ul><li>Perceived quality </li></ul><ul><li>Brand associations </li></ul><ul><li>Other proprietary assets </li></ul>
  14. 14. Brand Equity/Raj Mohan And Ranjith <ul><li>Brandz: </li></ul><ul><li>Developed by marketing research consultants Millward and WPP. </li></ul><ul><li>As per this model brand building involves series of steps: </li></ul><ul><li>The objectives of each steps are the following: </li></ul><ul><li>Presence </li></ul><ul><li>Relevance </li></ul><ul><li>Performance </li></ul><ul><li>Advantage </li></ul><ul><li>Bonding </li></ul>
  15. 15. Brand Equity/Raj Mohan And Ranjith <ul><li>Brand resonance: </li></ul><ul><li>It also views brand building as an ascending, sequential series of steps </li></ul><ul><li>Ensuring identification of the brand with customers’ minds with a specific product class or customer need. </li></ul><ul><li>Firmly establishing the brand into the mind of the consumer. </li></ul><ul><li>Eliciting proper customer response to in terms of brand related judgment and feelings. </li></ul><ul><li>Converting brand response to create to create an intense, active loyalty relationship between customers and the brand. </li></ul>
  16. 16. Brand Equity/Raj Mohan And Ranjith Measuring Brand Equity: There are two approaches for measuring brand equity. Indirect approach and direct approach. <ul><li>Brand Audit: </li></ul><ul><li>- is a consumer-focused exercise that involves a series of procedures to access the heath of the brand, uncover its sources of equity and suggest ways to improve and leverage its equity. </li></ul>
  17. 17. Brand Equity/Raj Mohan And Ranjith Brand Audits consist of two steps: Brand inventory and brand explanatory The purpose of brand inventory is to provide a current, comprehensive profile of how all the products and services sold by a company are marketed and branded. The brand explanatory is research activity conducted to understand what consumers think and its corresponding product category to identify sources of brand equity.
  18. 18. Brand Equity/Raj Mohan And Ranjith <ul><li>Brand tracking: </li></ul><ul><li>Tracking studies collect information from the consumers on a routine basis over time. Tracking studies employ quantitative study methods. </li></ul><ul><li>It provides a basis for decision making </li></ul><ul><li>It provides insights to marketing activities </li></ul>
  19. 19. Brand Valuation Brand Equity/Raj Mohan And Ranjith It is concerned of estimating the total financial value of the brand.
  20. 20. Brand Equity/Raj Mohan And Ranjith Brand Management needs a long term view of marketing decisions. Consumer responses to marketing activity depend on what they know and remember about a brand. Brand reinforcement: Brand equity is reinforced by marketing actions that consistently convey the meaning of the brands to consumers in terms of: The product and Superiority
  21. 21. Brand Equity/Raj Mohan And Ranjith <ul><li>Reinforcing brand equity needs innovation and relevance through out the marketing program. Marketers must introduce new products to satisfy the target consumers </li></ul><ul><li>Brand Revitalization </li></ul><ul><li>A strategy to recapture lost sources of brand equity and identify and establish new sources of brand equity. This may include product modification or brand repositioning. </li></ul>
  22. 22. Brand Equity/Raj Mohan And Ranjith Doubts and Clarifications
  23. 23. Brand Equity/Raj Mohan And Ranjith

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