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    Managing Brand Equity

    Uploaded by

    Piyush Sharma
    The document discusses key aspects of brand equity, including brand loyalty, brand awareness, perceived quality, and brand associations. It defines these elements and explores how to measure, enhance, and maintain them to improve brand equity. Specific strategies are outlined such as treating customers well, creating switching costs for loyalty, using slogans for awareness, and ensuring consistency in associations over time.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd

    Managing Brand Equity

    Uploaded by

    Piyush Sharma
    145 views22 pages
    The document discusses key aspects of brand equity, including brand loyalty, brand awareness, perceived quality, and brand associations. It defines these elements and explores how to measure, enhance, and maintain them to improve brand equity. Specific strategies are outlined such as treating customers well, creating switching costs for loyalty, using slogans for awareness, and ensuring consistency in associations over time.

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    The document discusses key aspects of brand equity, including brand loyalty, brand awareness, perceived quality, and brand associations. It defines these elements and explores how to measure, enhance, and maintain them to improve brand equity. Specific strategies are outlined such as treating customers well, creating switching costs for loyalty, using slogans for awareness, and ensuring consistency in associations over time.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    145 views22 pages

    Managing Brand Equity

    Uploaded by

    Piyush Sharma
    The document discusses key aspects of brand equity, including brand loyalty, brand awareness, perceived quality, and brand associations. It defines these elements and explores how to measure, enhance, and maintain them to improve brand equity. Specific strategies are outlined such as treating customers well, creating switching costs for loyalty, using slogans for awareness, and ensuring consistency in associations over time.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 22

    Managing

    Brand Equity
    visit: www.studyMarketing.org

    Brand equity is
    a set of brand assets and
    liabilities linked to a brand
    visit: www.studyMarketing.org

    Elements of Brand Equity:


    Brand Loyalty
    Brand Awareness
    Perceived Quality
    Brand Associations
    visit: www.studyMarketing.org

    Brand Loyalty
    Brand loyalty is a measure of the
    attachment that a customer has to a
    brand.
    It reflects how likely a customer will be to
    switch to another brand, especially when that
    brand makes a change, either in price or in
    product features.

    visit: www.studyMarketing.org

    Brand Loyalty Pyramid


    Committed Buyer
    Likes the Brand - Considers it a Friend
    Satisfied Buyer With Switching Costs
    Habitual Buyer - No Reason to Change
    Switchers / Price Sensitive
    Indifferent No Brand Loyalty

    visit: www.studyMarketing.org

    Measuring Brand Loyalty


    Purchase Behavior Patterns
    Switching Cost Analysis
    Satisfaction Measurement
    visit: www.studyMarketing.org

    Strategic Value of Brand Loyalty


    Reduce marketing cost
    Trade (channel distribution) leverage
    Attracting new customers

    visit: www.studyMarketing.org

    Enhancing
    Brand Loyalty
    Treat the customer right
    Stay close to the customer
    Measure/manage customer
    satisfaction
    Create switching cost
    Provide extras

    visit: www.studyMarketing.org

    Brand Awareness is
    the ability of a potential
    buyer to recognize or recall
    that a brand is a member of
    a certain product category

    visit: www.studyMarketing.org

    Brand Awareness Hierarchy


    Top of Mind
    Brand Recall
    Brand Recognition
    Unaware of Brand

    visit: www.studyMarketing.org

    10

    Value of Brand Awareness


    Anchor to which other associations can be
    attached
    Familiarity and liking
    Signal of substance/commitment
    Brand to be considered
    visit: www.studyMarketing.org

    11

    How to Achieve
    Brand Awareness
    Be different, memorable
    Involve a slogan or jingle
    Symbol exposure
    Publicity
    Event sponsorship
    visit: www.studyMarketing.org

    12

    Perceived Quality
    The customer's perception of the overall
    quality or superiority of a product or service
    with respect to its intended purpose, relative to
    alternatives. Perceived quality is a perception
    by customers.

    visit: www.studyMarketing.org

    13

    What
    Influences
    Perceived
    Quality of
    Product?
    Product

    Performance
    Features
    Conformance with
    specifications
    Reliability
    Durability
    Serviceability
    Fit and finish

    visit: www.studyMarketing.org

    14

    Appearance
    Reliability
    Competence
    Responsiveness
    Empathy
    visit: www.studyMarketing.org

    What
    Influences
    Perceived
    Quality of
    Service?
    Service
    15

    The Value of Perceived Quality


    Reason-to-Buy
    Differentiate/Position
    A Price Premium
    Channel Member Interest
    Brand Extensions
    visit: www.studyMarketing.org

    16

    Brand Association
    A brand association is anything
    "linked" in memory to a brand.
    Thus, McDonald's could be linked to a
    character such as Ronald McDonald, a
    consumer segment such as kids, a feeling
    such as having fun, a product characteristic
    such as service, or a symbol such as the
    Golden Arches.
    visit: www.studyMarketing.org

    17

    Some Types of
    Associations

    Product Attributes
    Customer Benefits
    Relative Price
    Lifestyle/Personality
    Celebrity/Person
    Use/Application

    visit: www.studyMarketing.org

    18

    The Value of Brand


    Associations
    Help Process/Retrieve
    Information
    Differentiate/Position
    Reason-to-Buy
    Create Positive
    Attitudes/Feelings
    Basis for Extensions

    visit: www.studyMarketing.org

    19

    Maintaining
    Associations
    Be consistent over time
    Be consistent over
    elements of the marketing
    program
    Manage disasters in order
    to minimize their damage
    visit: www.studyMarketing.org

    20

    Criteria for
    Brand Name Selection
    Be easy to learn and remember
    Suggest the product class
    Support a symbol or slogan
    Suggest desired association without
    being boring or trivial
    Not suggest undesired associations
    Be distinctive
    Be available and protectable legally
    visit: www.studyMarketing.org

    21

    Source of Reference:
    David Aaker, Managing Brand Equity : Capitalizing on
    the Value of A Brand Name, Free Press

    visit: www.studyMarketing.org

    22

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