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Market Strategy. Brand Equity Brand Strategy. Brand Equity. BRAND AWARENESS. BRAND IDENTITY. BRAND EQUITY. PERCEIVED QUALITY. BRAND LOYALTY. Brand Awareness. The level of familiarity consumers have with a brand name. The ability to link a brand name with a particular product.
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Market Strategy Brand Equity Brand Strategy
BRAND AWARENESS BRAND IDENTITY BRAND EQUITY PERCEIVED QUALITY BRAND LOYALTY
Brand Awareness • The level of familiarity consumers have with a brand name. • The ability to link a brand name with a particular product. • Can provide a competitive advantage: • Product parity • Low-involvement • High recognition
Brand Identity • The associations attached to a firm and its brands • Anything directly or indirectly linked in memory to a brand • The most common associations are usually product attributes or customer benefits Use or application Lifestyle and feelings Product class Personality Product user Symbol
Product extensions • New products in same product category owned by same company • Examples:
Brand Extensions • New products with same brand name in product category • Examples: • Require lower investment and lower risk than product extensions
Requires product differentiation and careful product positioning • If not carefully positioned, may cannibalize core brand and increase marketing costs