brand equity
DESCRIPTION
Brand EquityTRANSCRIPT
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Brand Equity13TH AUGUST 2014
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What is Brand Equity?
Brand equity is the added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand.
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Brand equity
Brand Equity is a set of assets linked to a brand’s name and symbol that adds to the value provided by a product or service to a firm and/or that firm’s customers
Brand Equity is a set of liabilities linked to a brand’s name and symbol that subtracts from the value provided by a product or service to a firm and/or that firm’s customers
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Brand equity: Key aspects
Brand equity is a set of assets Management of brand equity involves investment to create and
enhance these assets
Each brand equity asset creates value in a variety of very different ways It is imperative to be sensitive to the ways in which strong
brands create value
Brand equity creates value for customer and firm
For assets or liabilities to underlie brand equity, they must be linked to name/symbol of the brand
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Brand Equity as a Bridge
• The quality of investment in brand building is the critical factor, not necessarily the quantity
Brand Promise• Marketer’s vision of what the brand must
be and do for the consumers.
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Key Benefits of Brand Equity Improved perceptions of product performance
Greater Loyalty
Less vulnerability to competitive marketing
Less vulnerability to marketing crises
Larger Margins
More inelastic consumer response to price increase
Additional Brand extension opportunities
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CREATING BRAND EQUITY
BUILDING A STRONG BRAND REQUIRES CAREFUL PLANNING & GREAT DEAL OF LONG-TERM INVESTMENT. AT THE HEART OF A SUCCESSFUL BRAND IS A GREAT PRODUCT OR SERVICE, BACKED BY A CREATIVELY DESIGNED & EXECUTED MARKETING.
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Drivers of Brand Equity
Brand Elements
Marketing Activities
Meaning Transference
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Brand Knowledge
Knowledge
Thoughts
Experiences
BeliefsImages
Feelings
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Brand Elements
ElementsSlogans
Brand
names URLs
Logos
SymbolsCharacters
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Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 10-11
Brand Element Choice Criteria
Memorable Meaningful Likeability Transferable Adaptable Protectible
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Slogans
Like a good neighbor, State Farm is there Just do it Nothing runs like a Deere Save 15% or more in 15 minutes or less
We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices
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Designing Holistic Marketing Activities
Personalization
Integration
Internalization
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Internal Branding
Choose the right moment
Link internal and external marketing
Bring the brand alive for employees
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Figure 10.4 Secondary Sources of Brand Knowledge
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Measuring Brand Equity
Brand AuditsBrand Audits
Brand TrackingBrand Tracking
Brand ValuationBrand Valuation
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Table 10.2 The 10 Most Valuable Brands
Brand 2006 Brand Value (Billions)
Coca-Cola $67.00
Microsoft $56.93
IBM $56.20
GE $48.91
Intel $38.32
Nokia $30.13
Toyota $27.94
Disney $27.85
McDonald’s $27.50
Mercedes-Benz $22.13
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Managing Brand Equity
Brand ReinforcementBrand Reinforcement
Brand RevitalizationBrand Revitalization
Brand CrisesBrand Crises
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Interbrand’s Steps in Calculating Brand Equity
Market segmentation
Financial analysis
Role of branding
Brand strength
Brand value calculation
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Devising a Branding Strategy
Develop new brand elements
Develop new brand elements
Apply existing brand elements
Apply existing brand elements
Use a combination of old and new
Use a combination of old and new
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Branding Terms
Brand line Brand mix Brand extension Sub-brand Parent brand Family brand
Line extension Category extension Branded variants Licensed product Brand dilution Brand portfolio
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Brand Naming
Individual namesIndividual names
Blanket family namesBlanket family names
Separate family names
Separate family names
Corporate name-individual name
combo
Corporate name-individual name
combo