Brand Equity
16
BRAND EQUITY
-
Upload
grape5 -
Category
Technology
-
view
704 -
download
2
description
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.
Transcript of Brand Equity
BRAND EQUITY
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
A set of asset and liabilities linked to a brand, its name, symbol, that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers.
Brand Equity – Value to Customers
Interpretation/Processing of information.
Confidence in the Purchase decision.
Use satisfaction.
Brand Equity – Value to Company
Efficiency & Effectiveness of marketing programs.
Brand Loyalty. Prices / Margins. Brand Extensions. Trade Leverage. Competitive Advantage.
Brand Equity
Brand AwarenessExtent to which a brand is recognized by potential customers, and is correctly associated with a particular product. Expressed usually as a percentage of target market, brand awareness is the primary goal of advertising in the early months or years of a product's introduction.
How to Achieve Awareness..?
Be different & memorable
Involve a slogan or jingle
Symbol exposure
Publicity
Event sponsorship
Consider brand extensions
Using cues
Recall requires repetition
The recall bonus
Brand Association
The extent to which a particular product or service is identified within its product or service category.
Value of Brand Association
Help Process/Retrieve InformationDifferentiatedBasis For ExtensionsCreate Positive Attitude / FeelingsReason To Buy
Perceived Quality
Consumer's opinion of a product's (or a brand's) ability to fulfill his or her expectations. It may have little or nothing to do with the actual excellence of the product, and is based on the firm's (or brand's) current public image (see corporate image), consumer's experience with the firm's other products, and the influence of the opinion leaders, consumer's peer group, and others.
Perceived Quality Dimensions
Product
PERFORMANCE
FEATURES CONFORMANCE
RELIABILITY SERVICEABILITY DURABILITY FIT & FINISH
Service
TANGIBLES
RELIABILITY
COMPETENCE
RESPONSIVENESS
EMPATHY
Brand Loyalty
The extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands
Source: Filip Wouters
Value of Brand Loyalty
Attracting New Customers.
Reduced Marketing Costs.
Trade Leverage.
Provide time to respond to competitive threats.
Creating & Maintaining Brand Loyalty
Treat The Customer Right.
Stay Close To The Customer.
Measure/Manage Customer Satisfaction.
Create Switching Costs.
Provide Extras.
Brand Loyalty
Brand Identity
The visible elements of a brand (such as colours, design, logotype, name, symbol) that together identify and distinguish the brand in the consumers' mind.
CONNECT WITH US
TwitterYouTube
Bangalore office
#576, 30th Main Road,Banashankari 3rd Stage,Bangalore-560070
Navi Mumbai
Gangasagar, Plot no.E-47,Near MSEB, Sector-12, Kharghar,Navi Mumbai-410210
……………………………….............
