V47 Ch9 Creating Brand Equity
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Transcript of V47 Ch9 Creating Brand Equity
Creating Brand EquityTop Ten Concepts
Jojo Canta
Ateneo Graduate School of BusinessMBA Standard Program
Outline: Definition, Scope and Theories
1. What is a Brand?2. Scope of Branding3. What is Brand Equity?4. Using Brand Equity Models as Guide
Brand Asset Valuator Aaker Model Brand Resonance Model
5. Brand Elements
CREATING BRAND EQUITY
Outline: Building a Strong Brand
5. Branding Strategies6. Improving on what can be measured7. Managing Brand Equity8. Brand Portfolio9. Roles of Brands in a Portfolio10. Customer Equity
CREATING BRAND EQUITY
What is a Brand?
name, term, sign, symbol, design, or combination
intended to identify the goods or services
differentiate them from those of competitors’
Scope of Branding
all about creating differences between products
differences often related to attributes or benefits of the product itself
applicable anywhere a consumer has a choice
What is Brand Equity?
Added value endowed on products or services
Reflected in how consumers think, feel and act
Set of assets linked to a brand adds to the value provided by a product
Set of liabilities linked to a brand subtracts from the value provided by a product
Brand Equity Models
Brand Asset Valuator Aaker Model Brand Resonance
differentiation loyalty resonanceenergy feelings
relevance brand association judgmentsesteem imagery
perceived quality performanceknowledge awareness salience
low brand equity
low brand equity
high brand equity
high brand equity
Brand Elements
Devices that identify and differentiate the brand
memorable – easily recalled meaningful – suggestive of corresponding
category likable – appeal to consumers transferable – different categories or market
segments adaptable – can be updated protectable – legally protectable
Branding Strategy
Develop new brand elements for a new product
Apply some of the existing elements Use a combination of new and existing
elements
General Strategies individual names blanket family names separate family names for all products corporate name combined with individual
product name
Measuring Brand Equity
Brand Audit consumer-focused series of procedures that
assess the health of the brand
Brand Tracking Studies collect quantitative data from consumers where the brand has been where the brand is now
Measuring Brand Equity
Sample brand study:
1. Sony2. Toyota3. HSBC4. Samsung5. Honda
Managing Brand Equity
Brand Reinforcement continuously improving products, services and
marketing requires innovation and relevance throughout
marketing programs
Brand Revitalization change in positioning re-inventing or overhauling the brand image
Brand Portfolio
Set of brands or family lines a company offers
Increase shelf presence and retailer dependence
Attracting customers seeking variety Increase internal competition with the firm Yielding economies of scale
Brand Roles in a Portfolio
Flankers positioned with respect to competitor’s brands
Cash Cows generates profit even with just minimal support
Low-End Entry Level low priced products
High-End Prestige relatively high priced
Customer Equity
Sum of lifetime values of all customers
Emphasizes the importance of loyalty
Customers serve as the tangible profit engine for brands to monetize their brand value
Conclusion
Building a strong brand requires careful planning in choosing the right brand elements and identities that will make up the brand.
A successful brand should have a great product or service that is supported by a creatively designed and well-executed marketing.
Summary: Creating a Strong Brand
Brands are used to differentiate a product or service.
Brand Equity is the value endowed to a product or service which is reflected inhow a customer think, feel and actabout the product.
Different elements can be used to identify and differentiate the brand.
Summary: Creating a Strong Brand
There are three major strategies in branding. Equity should be measured to determine
which element to improve on. In managing a brand, it could be continuously
reinforced or revitalized. Different brands with different roles could
be created in a portfolio. Customers serve as the profit engine for brands.
Creating Brand EquityTop Ten Concepts
Jojo Canta
Ateneo Graduate School of BusinessMBA Standard Program
Thank you..