Brands & Brand Equity

1. Brands & Brand Equity MKT 3850 Dr. Don Roy

2. Name a brand (specific brand, not a general product) that, if taken off the market today, would result in your quality of life being negatively impacted. What if… How would the absence of that brand affect you?

3. What is a Brand? “A name, term, sign, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” – American Marketing Association

4. Why Do Brands Matter? • Identifies source of product • Risk reducer • Search cost reducer • Signal of quality (functional benefit) • Symbolic device (psychological benefit)

5. What is Brand Equity? From the Firm’s Perspective: “The intangible value of a company beyond the value of its physical assets.”

6. How Valuable Are Brands? • “If the business were split up, • I would take the brands, • trademarks, and goodwill, and • you could have all the bricks and • mortar- and I would fare better.” • John Stuart, former Chairman of • Quaker Oats, Ltd.

7. Manifestations of Brand Equity Price Premiums Brand Loyalty

8. My Lesson About Brand Equity: Taught by a 10-Year Old vs.

9. So, What is a Brand? • “A name, term, sign, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” • – American Marketing Association • An identity • An image • An experience • A relationship