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BRAND EQUITY

Brand Management • Strategic Brand Management Design & implementation of marketing activities to build. measure and manage brands to maximize its value –Identify and establish brand Positioning –Planning and implementation of brand marketing –Measuring and interpreting brand performance –Growing and sustaining brand value deals with brand positioning .

.What is a Brand? – A brand is a name. a design or a combination of these elements that companies use to convey the identity of goods and services to customers and differentiate them from the products and services of competitors. a symbol. a term.

Sense and sensibility .

tangible -Symbolic. emotional. intangible .Think & Think Different -Functional. rational.

feel and act with respect to the brand.What is Brand Equity? • Brand Equity is the added value endowed on products and services • Reflected in the way consumers think. as well as in prices. market share and profitability that the brand commands .

preferences and behaviors • Brand Promise is the marketers vision of what the brand must be and do for the consumer .Customer Based Brand Equity • The differential effect that brand knowledge has on customer response to marketing of that brand – No differences? – Brand knowledge – strong associations – Reflected in perceptions.

advantage. relevance. 267) – Presence. Bonding . performance.Brand Equity Models • Brand Asset Valuator – Young & Rubicam (p.265) – – – – Energized Differentiation Relevance Esteem Knowledge Brand Strength Brand Stature • Brandz – Millward Brown and WPP (p.

Brand Equity Models • Brand Resonance Model (Kellar) – CBBE(p. 268) – Salience: Identity – Who are you? – Performance and Imagery: Meaning – What are you? – Judgements an Feelings: Response – What about you? – Resonance: Relationships – What about you and me? .

Protectable • Marketing Activities – Integrated marketing • Leveraging Secondary Associations • Internal Branding • Brand Communities . Jingles – Memorable. Meaningful. Names. Visuals. Likeable. Transferable. Adaptable.Building Brand Equity • Brand Elements – Logos.

Old Spice • Brand’s worth – Interbrand Brand Valuation Method (p. Enfield Bullet. new campaigns. 277) .Measuring Brand Equity • Brand Reinforcement – Ensure that brand does not deteriorate – New launch. fresh appeal (Starbucks Case) • Brand Revitalisation – Comebacks – Volkswagon.

Branding Strategy • Brand Architecture – Number and nature of common and distinctive elements across brands – Completely new brand elements – Use some old and some new – Use existing elements .

Types • Brand extensions – Advantages: brand life cycle. positive rub-off – Disadvantage: Brand Dilution • Parent/Master/Family Brand • Sub-Brand • Category extension • Brand line/mix/variants • House of Brands vs Branded House • Brand Portfolio – Mix of flankers. Hi end prestige . Cash Cows. Low end-entry level.

PRODUCT STRATEGY .

PRODUCT LEVELS Consumption System .

Customization. Style • Services Differentiation • Ordering ease. customer training. Durable. Repairability. maintenance and repair. Performance Quality. installation. Services • Product Differentiation • Features.Product Classification • Non Durable. conformance quality. Durability. consulting. returns • Design . delivery. Reliability.

consistency . length.Product & Brand Relationship • The Product Hierarchy – – – – – – Need Family Product Family Product Class Product Line Product Type Item • Product Mix – Width. depth.

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Assessments • Product Line Analysis • Product Line Length – Line Stretching – Line filling – Line Modernisation. • Labeling. featuring and pruning • Co-Branding & Ingredient branding • Packaging. Warranties and Guarantees .

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SERVICES MARKETING .

fridge • Hybrid . toothpaste • Tangible plus service – durables. Aquagaurd.Restaurants • Major service with minor goods – Air Travel • Pure Service – Baby sitting.The nature of services • Pure tangible – soap. massage .

increased customer participation. complementary services. People. Communication material. Reservation system – Supply Side: Part-time employees. price • INSEPERABILITY • VARIABILITY – Hiring and training – Standardize service performance process – Monitor customer satisfaction • PERISHABILITY – Demand side: Differential pricing. Peak time efficiency.Distinctive Service Characteristics • INTANGIBILITY – Place. Equipment. Facilities for future expansion . Shared services. symbols. Non-peak demand.

motivation and ability – Encourage customer citizenship • Satisfying employees plus customers .Service Realities • Shifting Customer Relationship • Customer empowerment – United Breaks guitar • Customer Co-production – Redesign process & redefine customer role – Incorporate right technology to aid customers and employees – Create high performance customers by enhancing role clarity.

Managing Service Quality • Managing Customer expectations • Gap between consumer expectation and management perception • Gap between management perception and service quality specifications • Gap between service quality specifications and service delivery • Gap between service delivery and external communications • Gap between perceived service and expected service .

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Determinants of Service Quality • Reliability • Responsiveness • Assurance • Empathy • Tangibles • Servqual attributes (pg.5) • Incorporating Self Service technologies . table: 12. 340.

NEW PRODUCT DEVELOPEMENT .

New Product Options • Make or Buy • Types of New products • Challenges – The innovators Imperative – New Product Success – New product Failurres .

Organisational requirements • Budgeting • Organising .

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SEE YOU NEXT WEEK! .