Brand consciousness and Brand loyalty

PRESENTED TO : S IR AGHA

PRESENTED BY :

AYSHA ZUBAID 12031516-003

NEHA IMTIAZ 12031516-061

FATIMA KARIM 12031516-017

NIMRA IFTIKHAR 12031516-013

Content-What is Brand?

-What is Brand consciousness/ awareness?

-What is Brand loyalty?

-A case study of Apple

What is brand?

A brand is a name, term, design or other feature that distinguishes one seller's product from those of others.

A modern example of a brand is Coca-Cola which belongs to the Coca-Cola Company.

Continue…The word "brand" is often used as a metonym referring to the company that is strongly identified with a brand.

A logo often represents a specific brand.

A widely known brand is said to have "brand recognition".

Brand elementsName: The word or words used to identify a company, product, service, or concept.

Logo: The visual trademark that identifies a brand.

Tagline or Catchphrase: "The Quicker Picker Upper" is associated with Bounty paper towels.

Continue …Graphics: the "dynamic ribbon" is a trademarked part of Coca-Cola's brand

Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink.

Sounds: a unique tune or set of notes can denote a brand. NBC's chimes provide a famous example.

What is Brand consciousness?

Brand consciousness is awareness of a brand as a distinct product separate from others.

Continue…It is the extent to which a brand is recognized by potential customers, and is correctly associated with a particular product.

Brand awareness is the primary goal of advertising in the early months or years of a product's introduction

Brand awareness plays a major role in a consumer’s buying decision-making process.

Measures of Brand AwarenessAided Awareness

This type of awareness is generated in a consumer. When asked about a product category, if the consumer is aided with a list of company names and he recognizes the company from the given set it is categorized as aided awareness.

Spontaneous awareness When asked about a product category, the consumers are asked to list brands they know without any cues.

Top of the mind AwarenessWhen the name of the company is automatically recollected because the consumer very promptly associates the brand with the product category, it is called a top of the mind awareness of the product. It's the first brand name listed by the consumers when asked to name brands they know without any cues.

Channels of Brand AwarenessAdvertising

Is the activity or profession of producing information for promoting the sale of commercial products or services. Advertising is used through various media to generate brand awareness within consumers. They can be aired as radio ads, television commercials, internet etc.

Guerrilla MarketingNowadays, big firms also use guerrilla marketing to catch consumers’ attention at low cost.

(1) Extreme specialization

(2) Aiming every effort at favorably impressing the customers

(3) Providing service that goes beyond the customers' expectations

(4) Fast response time

(5) Quick turnaround of jobs

(6) Working hours that match the customer's requirements.

ExampleFor example,

Coca-Cola could pay a given fee to have the title character drinking a Coke, instead of a Pepsi beverage, or Toyota might pay to have one of the characters drive their newest automobile.

Maintaining Brand AwarenessIs a very important aspect in marketing a company. It is imperative and very helpful to analyze the response your audience has towards the change in packaging, advertising, products and messages sent across through various means. Working towards creating an image in the minds of the consumers is not the last thing a company should aim to do.

Availability of the productAvailability of the product to the consumer is one such way of doing this. The consumer should not have to come looking for you when he is in need of making a second purchase of the product, dealerships and outlets at convenient places should make the consumer think of the brand as the most convenient and best solution to their needs of fulfillments.

What is brand loyalty?Brand loyalty is where a person buys products from the same manufacturer repeatedly rather than from other suppliers.

Steps leading towards brand loyaltyAwareness

Consideration

Trial

Repeat

Loyalty

Importance Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service, or other positive behaviors such as word of mouth advocacy.

Brand loyalty is not repurchasing!Brand loyalty is more than simple repurchasing.

Customers may repurchase a brand due to situational constraints (such as vendor lock-in), a lack of viable alternatives, or out of convenience.

Such loyalty is referred to as "spurious loyalty".

Continue…True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior.

This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm.

Example!For example,

If Joe has brand loyalty to Company A he will purchase Company A's products even if Company B's are cheaper and/or of a higher quality.

Types of brand loyal1. Hard-core Loyal - who buy the brand all the

time.

2. Split Loyal - loyal to two or three brands.

3. Shifting Loyal - moving from one brand to another.

4. Switchers - with no loyalty (possibly 'deal-prone', constantly looking for bargains or 'vanity prone', looking for something different).

Factors influencing brand loyaltyPre-dispositional commitment toward a brand.

Customers' perceived value

Brand trust

Customers' satisfaction

Repeat purchase behavior

Case study

Best global brands according to brand loyalty (2013)

Apple has destroyed the market of Android!

ReasonsBrand name

Brand trust

Status symbol

Apple store

Pricing

Think different campaign

Brand name

Brand trust

Status symbol

Apple storeApple’s products compliment each other from hardware to software.

For example Apple store.

People feel connected to brand by using both hardware and software of same Brand.

Think different campaignAdvertising campaign plays most important role in brand loyalty.

Apple always use different, innovative, creative and artistic ads for marketing.

Brand ObsessionMistakenly considered as brand consciousness.

Some people are obsessed with particular brand/ brands for following reasons;

•Superiority complex

•Inferiority complex

•Status symbol