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Brand management ppt

Brand equity refers to the added value endowed to products and services through branding. It is reflected in how consumers think, feel and act towards a brand, and impacts the brand's prices, market share and profitability. Brand equity is an important intangible asset for firms. There are several models for measuring brand equity, including brand asset valuator, Aaker's five categories of brand assets and liabilities, and the Millward Brown brand dynamics model. Building brand equity involves choosing strong brand elements, developing positive marketing programs, and forging associations to other entities. Strong brand equity simplifies consumer decision making and reduces risk.

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School: Social Sciences Faculty: Public Relations Sudent: Ani Asatiani Professor: Bahman Moghimi Topic: Brand Equity
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
Identifies product/service of seller and differentiates from competitors designsymbol term sign name Combination
 Consumers may evaluate the identical product differently depending on how it is branded  Consumers learn about brands through past experinces with the product and find out which brand satisfy their needs and wants  Simplify decision making and reduce risk
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.
Brand Equity Awaren ess Familia rity Image & Persona lity Loyalty Prefere nce Avaliab ility Associa tions
 The brand is viewed from the perspective of the customer, an individual or an organization.  The power of the brand lies in what customers have seen, read, heard, learned and thought about the product over time.  A brand is said to have positive customer brand equity when consumers react favorably to a product.  A brand is said to have negative brand equity if consumers react less favorably to the product.
Brand Asset Valuator: Developed by Advertising agency Young and Rubicam(Y&R). According to BAV there are four pillars of brand equity:  Differentiation  Relevance  Esteem  Knowledge Differentiation and relevance point to the brands future value and Esteem and acknowledge reflects the past performance of the firms.
Viewed by UC-Berkeley professor David Aaker. There are a set of five categories of brand assets and liabilities which add value to the product. They are:  Brand loyalty  Brand awareness  Perceived quality  Brand associations  Other proprietary assets
Developed by marketing research consultants Millward and WPP. As per this model brand building involves series of steps: The objectives of each steps are the following:  Presence  Relevance  Performance  Advantage  Bonding
• It also views brand building as an ascending, sequential series of steps • Ensuring identification of the brand with customers’ minds with a specific product class or customer need. • Firmly establishing the brand into the mind of the consumer. • Eliciting proper customer response to in terms of brand related judgment and feelings. • Converting brand response to create an intense, active loyalty relationship between customers and the brand.
Building brand equity includes:  The initial choices for the brand elements or the identities making up the brand  The product and service and all accompanying marketing activities and supporting marketing programs  Other associations indirectly transferred to the brand by linking it to some other entity (person, place, thing etc…)
Brand elements are those trademarkable devices that serve to identify and differentiate the brand. Most strong brands employ multiple brand elements. Brand elements can be chosen to build as much brand as possible. Brand elements have its choice criteria which should be:  Meaningful  Memorable  Likeability  Transferable  Adaptable  Protectable
 Strong brand names simplify the decision process and reduce risk;  Brand names are used to maintain higher awareness of products;  Company’s use brand equity to gain leverage when introducing new products;  The brand name is often interpreted as an indicator of quality;  Strong brand equity insures that your products are considered by most buyers;  Higher brand name equity leads to greater loyalty from customers;  Strong brand equity is the best defenst against new products and competitors;  Improvements in brand equity lead to higher rates of product trial and repeat purchuasing due to buyers’ awareness of your brand, approval of its image/reputation and trust in its quality.
Brand management ppt