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BRAND EQUITY AND 20 MOST VALUABLE BRANDS
WHAT IS A BRAND?
brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
used to show customers that one product is different than the products of another manufacturer.
THE CONCEPT OF BRAND EQUITY
brand equity concept stresses the importance of the brand in marketing strategies. Brand equity is defined in terms of the marketing effects uniquely attributable to the brand.
Brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not have that name.
THE CONCEPT OF CUSTOMER-BASED BRAND EQUITY
effect Customer brand knowledge Customer response to brand marketing
DETERMINANTS OF CUSTOMER-BASED BRAND EQUITY
is aware of and familiar with the brand holds some strong, favorable, and unique brand associations in memory
BUILDING CUSTOMER-BASED BRAND EQUITY
knowledge structures depend
on . . .
initial choices for the brand elements
supporting marketing program and the manner by which the brand is integrated into it associations indirectly transferred to the brand by linking it to some other entities
BENEFITS OF CUSTOMER-BASED BRAND EQUITY
greater brand loyalty, usage, and affinity Command larger price premiums Receive greater trade cooperation & support Increase marketing communication effectiveness Yield licensing opportunities Support brand extensions.
BRAND EQUITY AS A “BRIDGE”
brand equity represents the “added value” endowed to a product as a result of past investments in the marketing of a brand. Customer-based brand equity provides direction and focus to future marketing activities
THE KEY TO BRANDING
branding strategies to be successful, consumers must be convinced that there are meaningful differences among brands in the product or service category. Consumer must not think that all brands in the category are the same. PERCEPTION = VALUE
CUSTOMER-BASED BRAND EQUITY PYRAMID
4. RELATIONSHIPS 4. RELATIONSHIPS == What about you & What about you & me? me? 3. RESPONSE == 3. RESPONSE What about you? What about you? 2. MEANING 2. MEANING == What are you? What are you? 1. IDENTITY 1. IDENTITY == Who are you? Who are you?
of brand awareness Ease of recognition & recall Strength & clarity of category membership of brand awareness Purchase consideration Consumption consideration
Primary Product Service Style Price
characteristics & supplementary features reliability, durability, and serviceability effectiveness, efficiency, and empathy and design
Demographic & psychographic characteristics Actual or aspirational Group perceptions -- popularity
Purchase & usage situations
Type of channel, specific stores, ease of purchase Time (day, week, month, year, etc.), location, and context of usage
Personality & values
Sincerity, excitement, competence, sophistication, & ruggedness
History, heritage, & experiences
Brand quality Value Satisfaction Brand credibility Expertise Trustworthiness Likability Brand consideration Relevance Brand superiority Differentiation
Warmth Fun Excitement Security Social
Behavioral loyalty Frequency and amount of repeat purchases Attitudinal attachment Love brand (favorite possessions; “a little pleasure”) Proud of brand Sense of community Kinship Affiliation Active engagement Seek information Join club Visit web site, chat rooms
A brand mantra is an articulation of the “heart and soul” of the brand.
mantras are short three to five word phrases that capture the irrefutable essence or spirit of the brand positioning and brand values. Athletic Performance
Fun Family Entertainment
BEST GLOBAL BRANDS
Country of Origin Name Sector
1.United States 2.United States 3.United States 4.United States 5.Finland
Beverages Computer Services Computer Software Diversified Consumer Electronics
Country of Origin Name 6.United States 7.United States 8.Japan 9.United States 10.United States 11.United States
Sector Restaurants Internet Services Automotive
Computer Hardware Media Computer Hardware
Country of Origin Sector 12.Germany Automotive
Country of Origin Name 17.United States
19.Republic of Korea