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  • Creating Brand Equity

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    Varun Kishore Punjabi
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    Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names.[1][2][3][4] Although the terms "Brand Value" and "Brand Equity" are often believed to meant the same thing, they are not! Some marketing researchers have concluded that brands are one of the most valuable assets a company has,[5] as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one.[6] Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values.

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    Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names.[1][2][3][4] Although the terms "Brand Value" and "Brand Equity" are often believed to meant the same thing, they are not! Some marketing researchers have concluded that brands are one of the most valuable assets a company has,[5] as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one.[6] Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values.

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    Attribution Non-Commercial (BY-NC)
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    54 views28 pages

    Creating Brand Equity

    Uploaded by

    Varun Kishore Punjabi
    Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names.[1][2][3][4] Although the terms "Brand Value" and "Brand Equity" are often believed to meant the same thing, they are not! Some marketing researchers have concluded that brands are one of the most valuable assets a company has,[5] as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one.[6] Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values.

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    of 28

    CREATING BRAND EQUITY

    Ms. Kiran Sharma

    CHAPTER QUESTIONS
    What is a brand and how does branding work? What is brand equity? How is brand equity built, measured, and managed? What are the important decisions in developing a branding strategy?

    ESPN: A STRONG BRAND

    KERALA TOURISM HAS SUCCESSFULLY BRANDED THE DESTINATION WITH A BRAND NAME, LOGO, AND THE TAGLINE GODS OWN COUNTRY

    STEPS IN STRATEGIC BRAND MANAGEMENT


    Identifying and establishing brand positioning Planning and implementing brand marketing Measuring and interpreting brand performance Growing and sustaining brand value

    WHAT IS A BRAND?
    A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

    THE ROLE OF BRANDS


    Identify the maker
    Simplify product handling Organize inventory and accounting records

    Offer legal protection

    THE ROLE OF BRANDS


    Signify quality Brand loyalty creates barriers to entry Serves as a competitive advantage Secure price premium

    WHAT IS BRANDING?
    Branding

    is endowing products and services with the power of the brand. All about creating differences. Teaches a consumer who the product is, what the product does, and why consumers should care. Helps in decision making.

    APPLICATIONS OF BRANDING
    Physical

    goods ---Maggi Noodles, Lux soap, Tata Indica Cars Services --- ICICI Bank, Kingfisher Airlines, Blue Dart Couriers Stores --- Big Bazaar, Shoppers Stop, Individuals --- Shahrukh, Aamir, Rahul Dravid Organizations --- UNICEF, CRY Ideas --- Pulse polio initiatives, Adult literacy, Blood Donation.

    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.

    CUSTOMER BASED BRAND EQUITY (CBBE)


    Differential effect brand knowledge has consumer response to the marketing of that brand. Positive / Negative Brand equity arises from differences in consumer response. No difference ---- generic version of the product. Differences are a result of consumers knowledge about the brand. Differential response by consumers is reflected in their perceptions / preferences related to the brand.

    BRAND KNOWLEDGE

    Thoughts
    Knowledge

    Feelings

    Beliefs Experiences

    Images

    ADVANTAGES OF STRONG BRANDS


    Improved perceptions of product performance Greater loyalty Less vulnerability to competitive marketing actions Less vulnerability to crises

    Larger margins More inelastic consumer response Greater trade cooperation Increased marketing communications effectiveness Possible licensing opportunities

    APPLE IS A STRONG BRAND

    WHAT IS A BRAND PROMISE?

    A brand promise is the marketers vision of what the brand must be and do for consumers.

    BUILDING BRAND EQUITY DRIVERS

    Brand Elements Marketing Activities

    Meaning Transference
    (linking it to other entities person, place or thing)

    BRAND ELEMENTS
    Brand names Slogans URLs

    Elements
    Logos

    Characters

    Symbols

    BRAND ELEMENT CHOICE CRITERIA


    Memorable
    Meaningful Likeability

    Transferable
    Adaptable Protectable

    SLOGANS
    India ka dil India ka Ac Just do it Zindagi ke saath bhi, zindagi ke baad bhi Taking Indian Aviation to newer heights

    Sar utha ke jiyo Kucch Meetha Ho jaaye Im lovin it India ka Dil Feels like heaven Always low prices The best a man can get!

    SECONDARY SOURCES OF BRAND KNOWLEDGE

    MANAGING BRAND EQUITY

    Brand Reinforcement

    Brand Revitalization

    Brand Crises

    DEVISING A BRANDING STRATEGY


    Develop new brand elements
    Apply existing brand elements Use a combination of old and new

    BRANDING TERMS
    Brand mix Brand extension / Subbrand Parent brand Family brand

    Line extension Category extension Branded variants

    BRAND NAMING
    Individual names Blanket family names Separate family names

    Corporate nameindividual name combo

    BRAND ROLES IN A BRAND PORTFOLIO

    Flankers

    Cash Cows

    Low-end Entry-level

    High-end Prestige

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