This document discusses customer-based brand equity and how it is created. It defines customer-based brand equity as the differential effect that brand knowledge has on consumer responses to marketing for that brand. It identifies key components of creating strong brand equity as brand awareness, brand image, strong brand associations, and building relationships between customers and the brand. The document presents a customer-based brand equity model and pyramid that shows how performance, imagery, judgments, feelings, and resonance contribute to brand salience and ultimately customer-brand resonance.
This is the Chapter 2 lecture presentation for the Branding Course based on the book: Strategic Brand Management, 4th edition (Global Edition), Pearson by Kevin Lane Keller. Created by Phong Nguyen. Shared for students at Eastern International University.
This is the Chapter 2 lecture presentation for the Branding Course based on the book: Strategic Brand Management, 4th edition (Global Edition), Pearson by Kevin Lane Keller. Created by Phong Nguyen. Shared for students at Eastern International University.
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Content needs to be written with one purpose: to be Important. That means that it must anger a response or a attention from the reader. Many companies think that if they create content that fulfills a need or answers a question, they will somehow be compensated with their content being shared by millions.
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The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
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2. 2.2
Customer-Based Brand Equity
“The differential effect that brand knowledge has
on consumer response to the marketing of that
brand.”
Keller, 1993
3. 2.3
Customer-Based Brand Equity
Differential effect
Differences in consumer response
Brand knowledge
A result of consumers’ knowledge about the brand
Consumer response to marketing
Choice of a brand
Recall of copy points from an ad
Response to a sales promotion
Evaluations of a proposed brand extension
4. 2.4
Brand Equity as a “Bridge”
Reflection of past investments in the marketing
of a brand
Direction for future marketing actions or
programs
5. 2.5
Making a Brand Strong:
Brand Knowledge
Brand knowledge is the key to creating brand
equity.
Brand knowledge consists of a brand node in
memory with a variety of associations linked to
it.
Brand knowledge has two components: brand
awareness and brand image.
7. 2.7
Brand Awareness Advantages
Learning advantages
Register the brand in the minds of consumers
Consideration advantages
Likelihood that the brand will be a member of the
consideration set
Choice advantages
Affect choices among brands in the consideration
set
8. 2.8
Establishing Brand Awareness
Increasing the familiarity of the brand through
repeated exposure (for brand recognition)
Forging strong associations with the appropriate
product category or other relevant purchase or
consumption cues (for brand recall)
9. 2.9
Creating a Positive Brand Image
Brand Associations
Does not matter which source of brand association
Need to be favorable, strong, and unique
Marketers should recognize the influence of these
other sources of information by both managing them
as well as possible and by adequately accounting for
them in designing communication strategies.
10. 2.10
The Four Steps of Brand Building
1. Ensure identification of the brand with customers and
an association of the brand in customers’ minds
2. Establish the totality of brand meaning in the minds
of consumers
3. Elicit the proper customer responses to the brand
identification and brand meaning
4. Convert brand response to create an intense, active
loyalty relationship between customers and the brand
11. 2.11
Four Questions Customers ask of Brands
1. Who are you? (brand identity)
2. What are you? (brand meaning)
3. What about you? What do I think or feel about
you? (brand responses)
4. What about you and me? What kind of
association and how much of a connection
would I like to have with you? (brand
relationships)
12. 2.12
Customer-Based Brand Equity Pyramid
RESONANCE
SALIENCE
JUDGMENTS FEELINGS
PERFORMANCE IMAGERY
4. RELATIONSHIPS =
What about you and me?
3. RESPONSE =
What about you?
2. MEANING =
What are you?
1. IDENTITY =
Who are you?
13. Sub-Dimensions of CBBE Pyramid
LOYALTY
ATTACHMENT
COMMUNITY
ENGAGEMENT
QUALITY
CREDIBILITY
CONSIDERATION
SUPERIORITY
WARMTH
FUN
EXCITEMENT
SECURITY
SOCIAL APPROVAL
SELF-RESPECT
CATEGORY IDENTIFICATION
NEEDS SATISFIED
PRIMARY CHARACTERISTICS &
SECONDARY FEATURES
PRODUCT RELIABILITY,
DURABILITY & SERVICEABILITY
SERVICE EFFECTIVENESS,
EFFICIENCY & EMPATHY
STYLE AND DESIGN
PRICE
USER PROFILES
PURCHASE & USAGE
SITUATIONS
PERSONALITY &
VALUES
HISTORY, HERITAGE
& EXPERIENCES
14. 2.14
Salience Dimensions
Depth of brand awareness
Ease of recognition and recall
Strength and clarity of category membership
Breadth of brand awareness
Purchase consideration
Consumption consideration
15. 2.15
Depth and Breadth Importance
The product category hierarchy shows us not
only the depth of awareness matters but also the
breadth.
The brand must not only be top-of-mind and have
sufficient “mind share,” but it must also do so at
the right times and places.
16. 2.16
Product Category Structure
To fully understand brand recall, we need to
appreciate product category structure, or how
product categories are organized in memory.
17. 2.17
Performance Dimensions
Primary characteristics and supplementary features
Product reliability, durability, and serviceability
Service effectiveness, efficiency, and empathy
Style and design
Price
18. 2.18
Imagery Dimensions
User profiles
Demographic and psychographic characteristics
Actual or aspirational
Group perceptions—popularity
Purchase and usage situations
Type of channel, specific stores, ease of purchase
Time (day, week, month, year, etc.), location, and context of usage
Personality and values
Sincerity, excitement, competence, sophistication, and ruggedness
History, heritage, and experiences
Nostalgia
Memories
21. 2.21
Resonance Dimensions
Behavioral loyalty
Frequency and amount of repeat purchases
Attitudinal attachment
Love brand (favorite possessions; “a little pleasure”)
Proud of brand
Sense of community
Kinship
Affiliation
Active engagement
Seek information
Join club
Visit website, chat rooms
23. Application:
Identify the Key Drivers of Brand Equity
0.17 0.66
0.24
0.65
Performance
Imagery Feelings
Judgment
Resonance
0.58
0.49
24. 2.24
Brand Building Implications
Customers own brands.
Don’t take shortcuts with brands.
Brands should have a duality.
Brands should have richness.
Brand resonance provides important focus.
25. 2.25
Creating Customer Value
Customer-brand relationships are the
foundation of brand resonance and building a
strong brand.
The customer-based brand equity model
certainly puts that notion front and center.
26. 2.26
Is a company consumer-centric?
1. Is the company looking for ways to take care of
you?
2. Does the company know its customers well
enough to differentiate between them?
3. Is someone accountable for customers?
4. Is the company managed for shareholder value?
5. Is the company testing new customer offers and
learning from the results?
Sources: Larry Selden and Geoffrey Colvin, 2004.
28. 2.28
Customer Equity
Blattberg and Deighton (1996) offer eight guidelines as a means
of maximizing customer equity:
Invest in highest-value customers first
Transform product management into customer management
Consider how add-on sales and cross-selling can increase customer equity
Look for ways to reduce acquisition costs
Track customer equity gains and losses against marketing programs
Relate branding to customer equity
Monitor the intrinsic retainability of your customer
Consider writing separate marketing plans—or even building two
marketing organizations—for acquisition and retention efforts
29. 2.29
Customer Equity
The sum of lifetime values of all customers
Customer lifetime value (CLV) is affected by
revenue and by the cost of customer acquisition,
retention, and cross-selling
Consists of three components:
Value equity
Brand equity
Relationship equity
Rust, Zeithamal & Lemon, 2004
30. 2.30
Relationship of Customer Equity to
Brand Equity
Customers drive the success of brands but
brands are the necessary touchpoint that firms
have to connect with their customers.
Customer-based brand equity maintains that
brands create value by eliciting differential
customer response to marketing activities.
The higher price premiums and increased levels
of loyalty engendered by brands generate
incremental cash flows.