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CREATING BRAND
EQUITY
P O R T
RE
GROUP MEMBER
ZIDNI ILMA SADELMI 1401224279
DEFINING BRAND
feel, and act with respect to the brand, as well as in the prices,
market share, and profitability it commands. Marketers and
EQUITY
researchers use Various perspectives to study brand equity.
Customer-based approaches view it from the perspective of the
consumer. Either an individual or an organization recognizes that
the power of a brand lies in what customers have seen, read, heard,
learned, thought, and felt about the brand over time.
Branding is including with skill of professional marketers is their
HOW DOES
BRANDING WORK?
ability to create, maintain, enhance, and pro- tect brands, whether
established brands.
CREATING
The most valuable intangible assets of a firm is its brand and its
incumbent on marketing to properly manage their value. Building a
BRAND EQUITY
strong brand is both an art and a science. It requires careful
planning, a deep long-term commitment, and creatively designed and
executed marketing.
THE ROLE OF
BRAND
Brands serve both consumers and firms by identifying a product's
manufacturer and enabling consumers to hold that manufacturer or
distributor accountable for the product's performance.
Brand role for customers: It is a Brand role for firms: By aiding in the
means to set consumers expectations organization of inventory and financial
and reduce their risk, in return for information, they make product management
customer loyalty.The business simpler. It is possible to protect a brand
promises to consistently give a name through registered trademarks, a
favorable experience goods and production method through patents, and
services. packaging through copyrights and exclusive
designs.
BRAND
EQUITY
MODELS
Despite the fact that
brand managers generally
concur on the fundamentals
of branding, various brand
equity models present
varying viewpoints.
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BrandAsset Valuator Model
The BrandAsset Valuator (BAV), a
model of brand equity, was created
by the advertising agency Young and
Rubicam (Y&R). BAV examines the
brand equity of thousands of
products across hundreds of
different categories, based on
research with more than 800,000
consumers across 51 countries.
According to BAV, there are four
essential elements, or pillars, of
brand equity.
Framework for measuring brand equity that is based on Millward Brown's Meaningfully Different Framework and shows
a brand's current equity and growth potential. This uses a set of straightforward metrics that capture a brand's equity
and have a direct correlation to actual financial and business outcomes. Brand dynamics maintain that three different
types of brand associations are crucial:
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brand value calculation. consists of a period and
subsequent period estimate, which reflects the brand's
ability to continue generating revenue in the future.
MANAGING BRAND EQUITY
BRAND REINFORCEMENT
a brand needs to be carefully managed so its value does not depreciate.Marketers
can reinforce brand equity by consistently conveying the brand's meaning.
Reinforcing brand equity requires that the brand always be moving for- ward-in the
right direction and with new and compelling offerings and ways to market them.
An important part of reinforcing brands is providing consistent marketing
support.Marketers must recognize the trade-offs between activities that fortify the brand
and reinforce its meaning, such as a well-received product improvement or a creatively
designed ad campaign.
MANAGING BRAND EQUITY
BRAND REVITALIZATION
Brand revitalization is a strategic process that enhances a brand's image, importance,
and market position through comprehensive assessment, strategic changes, effective
communication, and adaptation.
Brand revitalization strategies range from "back to basics" to "reinvention," with the
challenge of attracting new customers while not alienating old ones. Burberry and Eu
Yan Sang successfully revived their brands by leveraging key assets.
BRAND DECISIONS
DEVISING A
TO SHAPE AND MANAGE THEIR BRAND'S IDENTITY,
PERCEPTION, AND OVERALL MARKET STRATEGY.
EQUITY
The customer equity
emphasizes strategic issues in
perspective focuses on
managing brands and leveraging
financial performance and
brand awareness and image with
offers quantifiable
customers. It provides practical
measures, but it overlooks
guidance for specific marketing
Customer equity is a strategic the advantages of creating
activities but does not always I
metric that measures a company's a strong brand, such as
develop detailed customer
financial value in customer attracting high-quality
analyses in terms of brand equity
employees, eliciting
relationships, emphasizing the or long-term profitability. Brand
support from partners, and
significance of acquiring, equity approaches could benefit
creating growth
retaining, and expanding these from sharper segmentation
opportunities. It also
relationships for long-term schemes and more consideration
overlooks the "option value"
business success and of personalized marketing
of brands and their
programs. Generally, fewer
profitability, enabling informed potential to affect future
financial considerations are put
decision-making in resource revenues and costs.
into play with brand equity than
allocation, marketing
with customer equity.
strategies, and customer
retention.
CASE
STUDY
Instagram launched in
October 2010 by Stanford
gradsKevin Systromand Mike
Krieger
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INSTAGRAM - INFLUENCERS MARKETING
This study case is about strategy how instagram connects the brand and
influencers on instagram to build the brand equity. This strategy happens
through third party vendors, this feature makes things more simpler for
influencers. There are 800 million users on Instagram overall, including
30 million brands and advertisers, 500,000 active influencers, and 60% of
users who are moving towards becoming influencers. (Data based from 18
July 2020)