Creating brand equity
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This document discusses key concepts related to branding and brand equity. It begins by defining what a brand is - a name, symbol or design that identifies a seller's products/services and differentiates them from competitors. Branding is endowing products with the power of the brand. Brand equity refers to the added value provided to products/services based on consumer perceptions of the brand. The document then discusses how brand equity is built through branding strategies and activities and can be measured through various models. It also outlines important decisions in developing a branding strategy, such as choosing brand elements, devising marketing activities, and managing the brand over time.
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Creating brand equity
- 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. ESPN: A Strong Brand
- 4. Steps in Strategic Brand Management • Identifying and establishing brand positioning • Planning and implementing brand marketing • Measuring and interpreting brand performance • Growing and sustaining brand value
- 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 makerIdentify the maker Simplify product handlingSimplify product handling Organize accountingOrganize accounting Offer legal protectionOffer legal protection
- 7. The Role of Brands Signify qualitySignify quality Create barriers to entryCreate barriers to entry Serve as a competitive advantage Serve as a competitive advantage Secure price premiumSecure price premium
- 8. What is Branding? Branding is endowing products and services with the power of the brand.
- 9. 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. Advantages of Strong Brands • Improved perceptions of product performance • Greater loyalty • Less vulnerability to competitive marketing actions • Less vulnerability to crises • Larger margins • More inelastic consumer response • Greater trade cooperation • Increased marketing communications effectiveness • Possible licensing opportunities
- 12. Apple is a Strong Brand
- 13. What is a Brand Promise? A brand promise is the marketer’s vision of what the brand must be and do for consumers.
- 14. Burger King Builds Its Brand with Social Connectivity
- 15. Brand Equity Models • Brand Asset Valuator • Aaker Model • BRANDZ • Brand Resonance
- 17. Figure 9.3 Brand Dynamics Pyramid Presence Relevance Performance Advantage Bonding Strong Relationship Weak Relationship
- 18. Aaker Model Brand Identity Extended Identity Elements Brand Essence Core Identity Elements
- 19. Figure 9.4 Brand Resonance Pyramid
- 20. Drivers of Brand Equity Brand Elements Marketing Activities Meaning Transference
- 22. Brand Element Choice Criteria • Memorable • Meaningful • Likeability • Transferable • Adaptable • Protectible
- 23. Slogans • Like a good neighbor, State Farm is there • Just do it • Nothing runs like a Deere • Save 15% or more in 15 minutes or less • We try harder • We’ll pick you up • Nextel – Done • Zoom Zoom • I’m lovin’ it • Innovation at work • 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. Figure 9.5 Secondary Sources of Brand Knowledge
- 27. Measuring Brand Equity Brand AuditsBrand Audits Brand TrackingBrand Tracking Brand ValuationBrand Valuation
- 28. Table 9.2 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 ReinforcementBrand Reinforcement Brand RevitalizationBrand Revitalization Brand CrisesBrand 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 Develop new brand elements Apply existing brand elements Apply existing brand elements Use a combination of old and new Use a combination of old and new
- 32. Branding Terms • Brand line • Brand mix • Brand extension • Sub-brand • Parent brand • Family brand • Line extension • Category extension • Branded variants • Licensed product • Brand dilution • Brand portfolio
- 33. Brand Naming Individual namesIndividual names Blanket family namesBlanket family names Separate family namesSeparate family names Corporate name- individual name combo Corporate name- individual name combo
- 34. 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
- 35. Brand Roles in a Brand Portfolio Flankers Low-end Entry-level High-end Prestige Cash Cows
- 36. Marketing Debate Are brand extensions good or bad? Take a position: 1. Brand extensions can endanger brands. or 2. Brand extensions are an important brand-growth strategy.
- 37. Marketing Discussion How can you relate the different models brand equity presented in this chapter? How are they similar? Different? Can you reconstruct a brand-equity Model that incorporates the best of each?
- 38. For Details and Appointment contact:- Parveen Kumar Chadha… THINK TANK (Founder and C.E.O of Saxbee Consultants & Other-Mother marketingandcommunicationconsultants.com) Email :-saxbeeconsultants@gmail.com Mobile No. +91-9818308353 Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015
Editor's Notes
- Video icon links to snippet on Swiss Army’s brand extensions.