This document outlines the top 10 concepts for creating brand equity with potential medical applications. It discusses key definitions like branding, brand equity, and brand promise. Each concept is defined in the context of building brand equity through understanding consumer brand knowledge, having the right target consumers, measuring brand equity, taking a long-term marketing view, branding new products, line extensions strengthening existing brands, and using brand portfolios to maximize market coverage while minimizing overlap. The summary emphasizes that strong brands are created through offering a great product or service, careful long-term planning and commitment, and creative marketing execution.

1. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications

2. Outline Definition of Terms (Brand, Brand equity, Brand promise) Creating Brand Equity Summary

3. Concept 1: Branding sets a product apart from the rest Definition Brand Elements Differences in consumer perception KEY:

4. Concept 1: Branding sets a product apart from the rest Kotler: Marshall Field’s & Macy’s; Colonial Williamsburg Local: Rustan’s, Shoemart RP Medical Application: Belo Essentials, The Medical City Definition

5. Concept 2: Brand equity is the added value of a product or service Key ingredients: Definition Differences in consumer response Perceptions preferences BRAND KNOWLEDGE

6. Kotler: Apple Computer Local: Rustan’s, Powerplant Mall RP Medical Application: Concept 2: Brand equity is the added value of a product or service Definition

7. Concept 3: Brand promise is the vision of the brand for consumers Brand equity is a bridge towards the brand’s promise Definition

8. Kotler: Burger King Local: Globe Telecom RP Medical Application: Concept 3: Brand promise is the vision of the brand for consumers Definition

9. Concept 4: Understanding consumer brand knowledge is the foundation of brand equity BRAND Creating Brand equity Thoughts

10. Kotler: Volvo, Hallmark, Harley-Davidson Local: PAL RP Medical Application: Concept 4: Understanding consumer brand knowledge is the foundation of brand equity Creating Brand equity

11. Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity

12. Kotler: Nike, Avis, Jones Soda, The Olive Garden, Eli Lilly Local: Shoemart, Shampoo, Havaianas RP Medical Application: Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity

13. Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity Brand Audit Brand-tracking studies

14. Kotler: none Local: Superbrand Awards RP Medical Application: Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity

15. Concept 7: Managing brand equity requires a long-term view of marketing actions Creating Brand equity Brand Reinforcement Brand Revitalization

16. Kotler: Harley Davidson, Mountain Dew Local: Jollibee RP Medical Application: Concept 7: Managing brand equity requires a long-term view of marketing act Creating Brand equity

17. Concept 8: Deciding on how to brand new products is critical in a firm’s branding strategy Creating Brand equity Individual names Separate Family Names Blanket Family Names Corporate + Individual Product Names BRAND RELATIONSHIP CONTINUUM

18. Kotler: General Mills, Heinz, Sears, Kellogg’s Local: Universal Robina Corporation, Lamoiyan Corporation RP Medical Application: Concept 8: Deciding on how to brand new products is critical in a firm’s branding strategy Creating Brand equity

19. Concept 9: Most new products are line extensions Creating Brand equity Positive Feedback New product acceptance

20. Kotler: Groupe Michelin, Goodyear Local: Universal Robina Corporation RP Medical Application: UNILAB Concept 9: Most new products are line extensions Creating Brand equity

21. Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity Multiple brands Multiple segments

22. Kotler: Armani Local: Selecta Ice Cream RP Medical Application: Executive packages Different room rates Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity

23. Great product or service Careful planning and long-term commitment Creatively designed and executed marketing Summary: A strong brand commands intense customer loyalty Summary

24. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications