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Dr Keller UBE

Dr Keller UBE

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Published by saleemmiazi

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Published by: saleemmiazi on Feb 20, 2011
Copyright:Attribution Non-commercial


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Kevin Lane KellerTuck School of BusinessDartmouth College
 One of the most popular and potentially important marketing topics to arise in the1980's was the concept of brand equity. The emergence of brand equity, however, has meantboth "good news" and "bad news." The good news is that it has raised the importance of thebrand in marketing strategy -- which heretofore had been relatively neglected -- and providedimpetus for managerial interest and academic research activity. The bad news is that theconcept has been defined a number of different ways for a number of different purposes,resulting in some confusion and even frustration with the term.Despite these differences, most observers are in agreement that brand equity should bedefined in terms of marketing effects uniquely attributable to a brand. That is, brand equityrelates to the fact that different outcomes result in the marketing of a product or servicebecause of its brand, as compared to if that same product or service was not identified by thatbrand. There is also basic agreement in the following: These differences arise from the"added value" endowed to a product as a result of past investments in the marketing for thebrand; there are many different ways that this value can be created for a brand; brand equityprovides a common denominator for interpreting marketing strategies and assessing the valueof a brand; and there are many different ways as to how the value of a brand can bemanifested or exploited to benefit the firm.Beyond this general agreement, however, the specific approaches to motivating anddefining brand equity can vary greatly depending on the perspective and purpose adopted.The objective of this paper is to provide a concise, up-to-date primer on brand equity. Its goalis to illuminate, clarify, and improve the ability of managers to actually use brandingprinciples and brand equity concepts in their organizations. The paper is organized aroundten of the most common (and important) branding questions, as summarized in Figure 1.
Branding has been around for centuries as a means to distinguish the goods of oneproducer from those of another. In fact, the word "brand" is derived from the Old Norse word"brandr" which means "to burn" as brands were and still are the means by which owners of livestock mark their animals to identify them. According to the American MarketingAssociation, a brand is a "
 name, term, sign, symbol, or design, or a combination of themintended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition
."A brand should be contrasted from a product. A product is anything that can beoffered to a market for attention, acquisition, use, or consumption that might satisfy a need orwant. Thus, a product may be a physical good (e.g., a cereal, tennis racquet, or automobile),service (e.g., an airline, bank, or insurance company), retail store (e.g., a department store,specialty store, or supermarket), person (e.g., a political figure, entertainer, or professionalathlete), organization (e.g., a non-profit, trade organization, or arts group), place (e.g., a city,state, or country), or idea (e.g., a political or social cause).
 A brand is a product then but one that adds other dimensions that differentiate it in some way from other products designed to satisfy the same need 
These differences may berational and tangible -- related to product performance of the brand -- or more symbolic,emotional and intangible -- related to what the brand represents. Thus, extending theexample from above, a branded product may be a physical good (e.g., Kellogg’s Corn Flakescereal, Prince tennis racquets, or Ford Taurus automobiles), a service (e.g., United airlines,Bank of America, or Transamerica insurance), a store (e.g., Bloomingdale’s department store,Body Shop specialty store, or Safeway supermarket), a person (e.g., Bill Clinton, Tom Hanks,or Michael Jordan), place (e.g., the city of Paris, state of California, or country of Australia),organization (e.g., the Red Cross, American Automobile Association, or Rolling Stones), oridea (e.g., abortion rights, free trade, or freedom of speech).

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