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Business creating-brand-equity
- 1. 10 Creating Brand Equity Mr. Ajit Arya Faculty-Marketing Department of Business Studies C. U. Shah College of Engg. & Tech.
- 2. Chapter Questions • What is a brand and how does branding work? • What is brand equity? • How is brand equity built, measured, and managed? • What are the important decisions in developing a branding strategy?
- 3. BARISTA: A Strong Brand
- 4. Kerala Tourism has successfully branded the destination with a brand name, logo, and the tagline “God’s Own Country”
- 5. What is a Brand? A brand is 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.
- 6. The Role of Brands Identify the maker Simplify product handling Organize accounting Offer legal protection
- 7. The Role of Brands Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium
- 8. What is Branding? Branding is endowing products and services with the power of the brand.
- 9. Advantages of Branding • Consumer’s viewpoint 1. Product quality 2. Increased shopper efficiency 3. Calls attention to new products 4. Reduces psychological risk • Seller’s viewpoint 1. Handling orders, accounting, tracking down problems 2. Trademark identification – legal protection 3. Brand loyalty 4. Reduces need for in-store contact 5. Facilitates segmentation, promotion, and pricing (competitive advantage)
- 10. What is Brand Equity? Brand equity is the added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand.
- 11. Brand Knowledge Thoughts Feelings Knowledge Images Beliefs Experiences
- 12. Advantages of Strong Brands • Improved perceptions of product • Larger margins performance • More inelastic • Greater loyalty consumer response • Less vulnerability to • Greater trade competitive marketing cooperation actions • Increased marketing • Less vulnerability to communications crises effectiveness • Possible licensing opportunities
- 13. Apple is a Strong Brand
- 14. What is a Brand Promise? A brand promise is the marketer’s vision of what the brand must be and do for consumers.
- 15. Brand Equity Models • Brand Asset Valuator • Aaker Model • BRANDZ • Brand Resonance
- 16. BAV Key Components Differentiation Energy Relevance Esteem Knowledge
- 17. Brand Dynamics Pyramid Strong Relationship Bonding Advantage Performance Relevance Presence Weak Relationship
- 18. Aaker Model Core Identity Brand Identity Elements Extended Identity Brand Essence Elements
- 20. Drivers of Brand Equity Brand Elements Marketing Activities Meaning Transference
- 21. Brand Elements Brand names URLs Slogans Elements Logos Characters Symbols
- 22. Brand Element Choice Criteria • Memorable • Meaningful • Likeability • Transferable • Adaptable • Protectible
- 23. Slogans • Like a good neighbor, • We try harder State Farm is there • We’ll pick you up • Just do it • Nextel – Done • Nothing runs like a • Zoom Zoom Deere • I’m lovin’ it • Save 15% or more in • Innovation at work 15 minutes or less • This Bud’s for you • Always low prices
- 24. Designing Holistic Marketing Activities Personalization Integration Internalization
- 25. Internal Branding • Choose the right moment • Link internal and external marketing • Bring the brand alive for employees
- 26. Secondary Sources of Brand Knowledge
- 27. Measuring Brand Equity Brand Audits Brand Tracking Brand Valuation
- 28. The 10 Most Valuable Brands Brand 2006 Brand Value (Billions) Coca-Cola $67.00 Microsoft $56.93 IBM $56.20 GE $48.91 Intel $38.32 Nokia $30.13 Toyota $27.94 Disney $27.85 McDonald’s $27.50 Mercedes-Benz $22.13
- 29. Managing Brand Equity Brand Reinforcement Brand Revitalization Brand Crises
- 30. Interbrand’s Steps in Calculating Brand Equity • Market segmentation • Financial analysis • Role of branding • Brand strength • Brand value calculation
- 31. Devising a Branding Strategy Develop new brand elements Apply existing brand elements Use a combination of old and new
- 32. Branding Terms • Brand line • Line extension • Brand mix • Category • Brand extension extension • Sub-brand • Branded variants • Parent brand • Licensed product • Family brand • Brand dilution • Brand portfolio
- 33. • Line extensions refers to new sizes, styles, or related products – Coca-Cola line extensions
- 34. • Brand licensing licensing: practice allowing other companies to use a brand name in exchange for a payment – Nabisco Licenses Its Oreo Brand to Post Cereal
- 35. • Brand extension extension: application of a popular brand name to a new product in an unrelated product category – Example: Utility Lighter – A Bic Brand Extension
- 36. • Family brand brand: brand name that identifies several related products – Heinz A well known family brand
- 37. Brand Naming Individual names Blanket family names Separate family names Corporate name- individual name combo
- 38. Reasons for Brand Portfolios • Increasing shelf presence and retailer dependence in the store • Attracting consumers seeking variety • Increasing internal competition within the firm • Yielding economies of scale in advertising, sales, merchandising, and distribution
- 39. Brand Roles in a Brand Portfolio Flankers Cash Cows Low-end High-end Entry-level Prestige
- 40. Thank You!!!