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    Week 10 - Brand Equity

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    Week 10 - Brand Equity

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    yousuf
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    Week 10 - Brand equity (1)

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    Download as ppt, pdf, or txt
    15 views26 pages

    Week 10 - Brand Equity

    Uploaded by

    yousuf

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
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    MARKETING PLANNING AND

    APPLICATIONS

    Week 10
    Creating
    Brand Equity
    Learning Objectives

    1. What is a brand, and how does branding work?


    2. What is brand equity?
    3. How is brand equity built?
    4. How is brand equity measured?
    5. How is brand equity managed?
    6. What is brand architecture?
    7. What is customer equity?
    How Does
    Branding Work?
    • American Marketing Association
    – 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”
    The role of brands
    • Brands’ role for consumers

     Set and fulfill expectations


     Reduce risk
     Simplify decision making
     Take on personal meaning
     Become part of identity
    The role of brands
    • Brands’ role for firms

     Simplify product handling


     Organize inventory & accounting
     Offer legal protection
     Create brand loyalty
     Secure competitive advantage
    The Scope of Branding
    • Branding
    – The process of
    endowing products
    and services with
    the power of a
    brand
    Defining Brand Equity
    • Brand equity
    – Added value endowed to products with
    consumers
    Defining Brand Equity
    • Customer-based brand equity
    – The differential effect brand knowledge has on consumer
    response to the marketing of that brand

     Differences in consumer response


     Brand knowledge
     Perceptions, preferences, and behavior
    Defining Brand Equity
    • Brand promise
    – The marketer’s vision of what the brand must be and do for
    consumers
    Brand Equity Models

    BrandAsset® Valuator

    Brandz

    Brand Resonance Model


    Brand Equity Models
    • BrandAsset®
    Valuator
    – Energized
    differentiation
    – Relevance
    – Esteem
    – Knowledge
    Brand Equity Models
    • Brandz
    – Meaningful, different, & salient associations
    – Power, premium, & potential outcomes
    Brand Equity Models
    • Brand Resonance Pyramid
    Building Brand Equity
    • Brand equity drivers

    Brand element or identity choices

    Product & accompanying marketing

    Other associations
    Building Brand Equity
    • Brand element choice criteria

    Memorable Meaningful

    Protectable Likable

    Adaptable Transferable
    INTERNAL BRANDING
    • Activities and processes that help
    inform/inspire employees about brands

    Choose the right Link internal & external


    moment marketing

    Bring the brand alive for


    Keep it simple
    employees
    Measuring Brand Equity
    • Brand value chain
    Measuring Brand Equity
    • Brand audit

    • Brand-tracking studies

    • Brand valuation
    Measuring Brand Equity
    Managing Brand Equity
    • Brand reinforcement
    – Requires the brand
    always be moving
    forward
    • Brand revitalization
    – Almost any kind
    starts with the
    product
    Devising a
    Branding Strategy
    Can develop new brand elements for
    new product

    Can apply some of existing brand


    elements

    Can use a combination of new &


    existing brand elements
    Devising a
    Branding Strategy
    • Brand extension • Category extension
    • Sub-brand • Brand line
    • Parent brand • Brand mix
    • Master/family brand • Branded variants
    • Line extension • Licensed product
    Branding Decisions
    • Alternative branding strategies

    Individual or separate
    family brand names

    Corporate umbrella or company


    brand name

    Sub-brand name
    CUSTOMER EQUITY
    • The sum of lifetime
    values of all customers
    • Is affected by customer
    acquisition, retention, and
    cross-selling
    Disclaimer:
    The contents of these slides are adapted from book Marketing Management (15th Edition) by Philip T. Kotler
    and Kevin Lane Keller. It is solely for the purpose of teaching marketing concepts and assessing Marketing
    Planning and Applications student at Iqra University.

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