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Brand equity

Brand equity. THE CONCEPT OF BRAND EQUITY. The brand equity concept stresses the importance of the brand in marketing strategies.

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Brand equity

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  1. Brand equity

  2. THE CONCEPT OF BRAND EQUITY • The brand equity concept stresses the importance of the brand in marketing strategies. • Brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not have that name.

  3. Creating brand equity • When you buy a brand, you are actually buying a belief. • Every brand signifies certain quality, performance, value and satisfaction • The value of a Brand can be increased by creating: • Strong • Favorable and • Unique brand associations

  4. CUSTOMER BASED BRAND EQUITY • Building a strong brand according to CBBE involves a series of 4 steps as part of a “branding ladder” • A strong brand is also characterized by a logically constructed set of 6 brand “building blocks.” • Identifies areas of strength and weakness • Provides guidance to marketing activities

  5. CUSTOMER-BASED BRAND EQUITY PYRAMID 4. BRAND RELATIONSHIPS = What about you & me? RESONANCE 3. BRAND RESPONSE = What about you? FEELINGS JUDGMENTS 2. BRAND MEANING = What are you? PERFORMANCE IMAGERY 1. BRAND IDENTITY = Who are you? SALIENCE

  6. Sub-Dimensions of CBBE Pyramid LOYALTY ATTACHMENT COMMUNITY ENGAGEMENT WARMTH FUN EXCITEMENT SECURITY SOCIAL APPROVAL SELF-RESPECT QUALITY CREDIBILITY CONSIDERATION SUPERIORITY PRIMARY CHARACTERISTICS & SECONDARY FEATURES PRODUCT RELIABILITY, DURABILITY & SERVICEABILITY SERVICE EFFECTIVENESS, EFFICIENCY, & EMPATHY STYLE AND DESIGN PRICE USER PROFILES PURCHASE & USAGE SITUATIONS PERSONALITY & VALUES HISTORY, HERITAGE, & EXPERIENCES CATEGORY IDENTIFICATION NEEDS SATISFIED

  7. Salience Dimensions • Depth of brand awareness • Ease of recognition & recall (Thanda matlab…) • Strength & clarity of category membership • Breadth of brand awareness • Purchase consideration • Consumption consideration Tax-savings instruments

  8. Performance Dimensions • Primary characteristics & supplementary features • Product reliability, durability, and serviceability • Service effectiveness, efficiency, and empathy • Style and design • Price

  9. Imagery Dimensions • User profiles • Demographic & psychographic characteristics • Actual or aspirational • Group perceptions -- popularity • Purchase & usage situations • Type of channel, specific stores, ease of purchase • Time (day, week, month, year, etc.), location, and context of usage • Personality & values • Sincerity, excitement, competence, sophistication, & ruggedness • History, heritage, & experiences • Memories

  10. Judgment Dimensions • Brand quality • Value • Satisfaction • Brand credibility • Expertise • Trustworthiness • Likability • Brand consideration • Relevance • Brand superiority • Differentiation

  11. Feelings Dimensions • Warmth • Fun • Excitement • Security • Social approval • Self-respect

  12. Resonance Dimensions • Behavioral loyalty • Frequency and amount of repeat purchases • Attitudinal attachment • Love brand (favorite possessions; “a little pleasure”) • Proud of brand • Sense of community • Kinship • Affiliation • Active engagement • Seek information • Join club • Visit web site, chat rooms

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