MARKETING MANAGEMENT12th edition
9 Creating
Brand Equity
Kotler Keller
Brand
A Name Sign Symbol Design or A Combination of All
Known Name Identifies Goods/Services from the Crowd Differentiates Goods/Services from Competitors
Creating a Brand Requires
The Role of Brands
Identify the makerSimplify product handlingOffer legal protection
Signify qualityCreate barriers to entrySecure price premium
Branding Technique to Provide Power of a brand to Products & ServicesBrand Equity
Or The differential effect that brand knowledge has on consumer response to the marketing of that brand.
The Reputation that the Brand Holds in the mind of the customer
Brand Knowledge
It is the Consumers’ Response towards marketing, Based on Brand Knowledge
Customer-Based Brand Equity
Brand Knowledge Creates the Differential Effects that Drives Brand Equity
Brand Association Depends on…..•Strong
•Unique •Favorable
Brand PromiseThe marketer’s vision of what the brand must Be and Do for consumers.
Brand Equity Models: 4 types (We shall learn Brand Resonance)
Brand Salience relates to How Often and Easily the brand comes into mind during Purchase (Depth) or Consumption (Breath) Situations.
Brand Performance relates to how the product or service Meets customers' Functional Needs.
Brand Imagery deals with the ways in which the brand attempts to Meet customers' Psychological or Social Needs.
Brand Judgments focus on customers' Own Personal Opinions and Evaluations.
Brand Feelings are customers' Emotional Responses & Reactions with respect to the brand.
Brand Resonance refers to the nature of the Relationship That Customers Have with the brand and the extent to which customers feel that they are "in sync" with the brand.
Building Brand Equity Drivers of Brand Equity
Brand ElementsMarketing ActivitiesMeaning Transference
Brand Elements
Criteria for Choosing Brand Elements
MemorabilityEasily RecognizeEasily Recalled
Meaningfulness
DescriptivePersuasive
LikeabilityFun and interestingRich visual & verbal imagery
TransferabilityWithin and across product categoriesAcross geographic boundaries and cultural
AdaptabilityFlexibleUpdatable
ProtectabilityLegally Competitively
Name
▲Sort Out and Choose 5-10 Potential Names
▲Do Extensive Local and International Legal Search
▲Now do Market Survey on that Names
▲ Now Choose 1-3 Names
▲Now Do Survey on Memorability, Meaningfulness, Spoken & Writing
▲Also Do Survey on, Product, Price, Packaging or Promotion to Justify the Brand Name
▲Finally “Register The Name” Immediately
Developing Brand Elements
Logos & Symbols
▲Logo Can Be Corporate Name or Trademarks
▲Some are with Strong Word Marks and No Logo Accompanied
▲Abstract Logo/Symbol: Some Has only Logo; Rolex Crown, Olympic Rings▲Logo Can be Created by the Shortened Version of the Company Name.
Jingles: Musical Message Around the brand
▲Jingles are Not Really Transferable (Across Countries) like other Brand Elements
▲May Communicate Benefits and often Convey product Meaning. Bangla Link Desh Song
▲Excellent Tool/Element for Attention & brand Awareness
▲Consumer may Mentally Rehearse or Repeat Catchy Jingle
Slogans: Short Phase; “Information @ Your Finger Tips”
▲Helps Understanding the Meaning of the Brand; What Makes it Special
▲Slogan Can Help for Country Branding •New York - The City That Never Sleeps•Malaysia - Truly Asia
•Freedom of Choice•Rhythm of Life•Ultimate Driving Machine•Express Your-self
URL:
▲Must be Unique, Credible and Meaningful
▲Must be Short & Simple that people can Easily Remember
▲Must be Registered
Optional Tactics for Brand Elements: Cont’Characters
▲Characters are Excellent Attention Getting Tools
▲Character Can Make the Brand As Fun & Interesting
▲Human Characters Can Enhance Likeability
▲Transferred Across Product Category, as they Don’t have Direct Product Meaning
Packaging: Containers/Wrappers for a product
▲TamperproofTamperproof▲ Easy to HoldEasy to Hold▲ Easy to Open Easy to Open ▲ SizeSize▲ ShapeShape▲ MaterialMaterial▲ GraphicsGraphics
Leveraging Secondary Brand Associations
Figure 9.3
Building Brand Equity
Measuring Brand Equity Brand Audits
Examines ▲True Meaning of Brand to Target ▲Potential Rivals ▲Current Health of the Brand
Recommends▲How to Improve The Health of The Brand
▲Recommend To Uncover Source of Equity
Brand Valuation
Brand Tracking▲Monitor Brand’s Health & Its Equity for Adjustments
▲Collects Info. from customers on a routine
basis & Understands……
▲ Where▲ How Much &▲ What Ways the Brand Value is being Created
▲It Estimates the Total Financial Value of the Brand
▲Brand Value is over One-Half of the Total Company Market Capitalization.
Branding Terms
Brand Extension: When a firm uses an established brand to introduce a new product
Sub-brand: When a new brand is combined with an existing brand. Adobe Acrobat Software
Parent Brand: An Existing Brand that gives birth to a brand extension. Toyota
Family Brand: If parent brand is already associated with multiple products through brand
extensions. PRAN
Line Extension: Parent Brand is used to brand a new product that targets a new market
segment within a product category currently served. Napa & Napa Extra
Category Extension: Parent Brand is used to enter a different product category from that
currently served. Bashundhara Tissue & Real-Estate
Branding Terms Cont’Brand Line: consists of All Products —Original as well as Line & Category Extensions
— sold under a particular brand. PRAN “Chanachur, Chatni, Dal, Juice” etc
Brand Mix/Assortment: A Set of All Brand Lines that a Particular Seller Makes
Branded Variants: which are specific brand lines supplied to specific retailers or
distribution channels.
Licensed Product: Brand Name has been licensed to other manufacturers who actually
make the product.
Brand Dilution: occurs when consumers no longer associate a brand with a specific
product or highly similar products and start thinking less of the brand.
Brand Portfolio: is the Set Of All Brands & Brand Lines a particular firm offers for sale
to buyers in a particular category. Different brands may be designed and marketed to appeal
to different market segments.
Brand Naming/Branding Decision:▲ Individual Names: LUX, Radhuni
▲ Blanket Family Names: PRAN
▲ Separate Family Names For All Products Category: Sears Separate Family Names
▲ Corporate name combined with individual product names: TOYOTA CorollaPromotion Cost is HighHere Company Name legitimizes & the Individual Name Individualizes, the new product.
Kenmore for appliancesCraftsman for toolsHomart for major home installations etcPromotion Cost is Moderate
Low cost to PromoteHigh risk on parent Brand Image
Expensive to PromoteLess risk on parent Brand Image
(End)
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