Chapter 7 (leveraging secondary branda ssociations to build brand equity)
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Transcript of Chapter 7 (leveraging secondary branda ssociations to build brand equity)
Secondary Sources of Brand Knowledge
0 The first three entities that reflect these factors
0 Who makes the product
0 Where is the product made
0 Where is it purchased
0 Remaining entities deal with people place or things
What Do Customers Know About The Other Entity
0 Create new association
0 Impact on existing brand knowledge
Guidelines
0 Ingredient branding may reinforce a point of difference against competing brands
0 When selecting a ingredient brand take in to consideration the customers awareness of the ingredient
0 A commodity can get an advantage by simply associating itself with the right ingredient
0 Complimentarity – between brand and ingredient
Company
0 Launch a new brand and use the company’s equity to educate customer on what it stands for.
Country of Origin
PakP
0 Japan
0 Switzerland
0 France
0 Pakistan
0 Germany
Co-branding
Guidelines to Co-branding
0 Both brand should have equal awareness
0 Sufficiently strong
0 Favorable
0 Unique associations
0 Positive consumer judgments and feelings
Ingredient Branding
Licensing
Guidelines for Licensing
0 Don’t get caught up, one minute they are in next minute they are gone
0 Multiple license agreements results in over exposure and wearing out quickly
0 If your brand gets over exposed, either you will close or you will sell
Celebrity Endorsements
Celebrity Endorsement Overdose
0 A celebrity that endorses a countless number of brands across multiple categories, with varying brand equity levels, targeting wider demographic profiles; is like a brand that has stretched itself beyond its capacity.
0 Such celebrities may not add strategic value to the brand
0 Once the celebrity switches to another brand so will majority of the customers.
Celebrity Issues
0 Sponsoring for the sake of sponsoring will not bring results 0 There needs to be a strategic fit between the brand and the celebrity who
endorses the brand 0 The celebrities actions, behavior, comments etc will have direct impact on
the brands performance
Conflict in Brand Image Representation
Sponsoring Events
0 Use popular events with a loyal following to create links and associations.
0 The equity of the event will be rubbed off on the brand that is sponsoring it.
0 Just sponsoring will not mean a lot to the participants/customers, instead the brand needs to create an opportunity for the brand to interact with the participants and also create a brand experience.
0 When budgeting for an event sponsorship allocate a separate budget to promote the event via ATL & BTL media and also for activations and give away's.
3rd Party Sources
0 Endorsements from leading magazines
Content Extracted from “Strategic Brand Management” 3rd Edition
Authors: Kevin Lane Keller
M.G. Parameswaran
Issac Jacob
Presentation developed from SLIM Diploma In Brand Management Students
Presentation developed by Leroy J. Ebert (17th May 2014)