9 creating brand equity 1. a brand-new world 9-3 chapter questions what is a brand and how does...
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9Creating Brand
Equity
1
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A Brand-new World
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9-3
Chapter Questions What is a brand and how does branding
work? What is brand equity? How is brand equity built, measured, and
managed? What are the important decisions in
developing a branding strategy?
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Brand
A name, term, sign, symbolor design, or a combination of them, intended to identify the goodsor services of one seller or groupof sellers and to differentiatethem from those of competitors.
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Building and
Sustaining Brand Equity © Ike Janita Dewi
Financial Values of Strong Brands
Akuisisi Rowntree oleh Nestle (Juni 1988; The New York Times, 24 Juni 1988)
Akuisisi Kraft oleh Philip Morris (Oktober 1988; Coll, 1988)
Philip Morris dan Nestle bersedia membayar lebih dari 6 kali lipat dan 5 kali lipat dari nilai buku perusahaan (book value) dari masing-masing perusahaan yang dibelinya karena brand Kraft dan Rowntree dianggap mempunyai nilai ekonomis yang sangat besar.
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The World’s Most Valuable Brands (2008)
No Name of Brands Valuation Country of Origin
1. COCA-COLA 65,324 U.S
2. MICROSOFT 58,709 U.S
3. IBM 57,091 U.S
4. GE 51,569 U.S
5. NOKIA 33,696 Finland
6. TOYOTA 32,070 Japan
7. INTEL 30,954 U.S
8. McDONALD’S 29,398 U.S
9. DISNEY 29,210 U.S
10. MERCEDES-BENZ 23,568 Germany
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Chapter 127
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Figure 9.7 Interbrand Brand Valuation Method
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Asian Brands The brutal truth is that branding is
misunderstood by decision-makers in Asia (excluding Japan)
There exists widespread misconceptions and, in many cases, a certain degree of ignorance over the value and role of brands as well as the process required to build them.
Surveys confirm that Asians from across the region prefer Western brands to homegrown ones.
The continued absence of genuinely great Asian brands will slow the Asian prospect.
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A Brand is not made in the factory but in the mind of the consumers
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Attributes of Strong Brands Excels at delivering
desired benefits Stays relevant Priced to meet
perceptions of value Positioned properly Communicates
consistent brand messages
Well-designed brand hierarchy
Uses multiple marketing activities
Understands consumer-brand relationship
Supported by organization
Monitors sources of brand equity
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The Role of Brands
Identify the maker Simplify product
handling Organize accounting Offer legal protection
Signify quality Create barriers to
entry Serve as a
competitive advantage
Secure price premium
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Branding
Endowing products and serviceswith the power of a brand.
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Brand Equity
The differential effect that brandknowledge has on consumer
response to the marketing of that brand.
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Brand Associations
Strong Unique Favorable
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Marketing Advantages of Strong Brands Improved perceptions of
product performance Greater loyalty Less vulnerable to
competition Less vulnerable to
crises Larger margins Inelastic consumer
response to price increases
Elastic consumer response to price decreases
Greater trade cooperation
Increase in effectiveness of IMC
Licensing opportunities Brand extension
opportunities
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Brand Promise
The marketer’s vision of what
the brand must be and do for
Consumers.
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Brand Equity Models
Brand Asset Valuator Aaker Model
BRANDZ Brand Resonance
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Brand Resonance Pyramid (Keller, 2002)
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Rational & Emotional Routes to Brand Building
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Drivers of Brand Equity Brand
elements Marketing
activities Meaning
transference
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Brand Element Choice Criteria
Memorable Meaningful Likeability
Transferable Adaptable Protectible
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Brand Elements
Brand names Slogans Characters
URLs Logos Symbols
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9-24
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Slogans
Like a good neighbor, State Farm is there
Just do it Nothing runs like a
Deere Help is just around the
corner Save 15% or more in 15
minutes or less
We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices
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Innovative slogan
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Strong slogan to support a brand
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Designing Holistic Marketing Activities
Brands are not built by advertising alone.
Brand building marketing programs: Personalization Integration Internalization
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The Importance of After-Sales Support in Consumer Decision Journey
Welcome to Apple Genius Bar. The Genius Bar is a tech support station located inside every Apple Retail Store, the purpose of which is to offer help and support for Apple products. Ron Johnson, the Senior Vice President for Retail, has often referred to the Genius Bar as the "heart and soul of our stores". Employees are specially trained and certified at the Genius Bar. Their role is to help customers with Apple hardware and software. All in-store repairs of Apple products are carried out by "Geniuses", formerly known as Mac Geniuses.
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Managing Brand Experience: Nike+ Experience
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Measuring Brand Equity
Brand audits Brand tracking Brand valuation
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Interbrand’s Brand Equity Formula
Brand earnings Brand sales Costs of sales Marketing costs Overhead expenses Remuneration of capital
charge Taxation
Brand strength Leadership (25%) Stability (15%) Market (10%) Geographic spread
(25%) Trend (10%) Support (10%) Protection (5%)
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Managing Brand Equity
Brand reinforcement Brand revitalization Brand crises
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Devising a Branding Strategy
Develop new brand elements Apply existing brand elements Use a combination of
old and new
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Branding Terms
Brand line Brand mix Brand extension Sub-brand Parent brand Family brand
Line extension Category extension Branded variants Licensed product Brand dilution Brand portfolio
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Brand Extensions
Advantages
- New-Product Success
- Positive Feedback Effects Disadvantages
- Brand Dilution
- Cannibalization
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Brand Naming
Individual names Blanket family names Separate family names Corporate name/individual name combo
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Brand Roles in a Brand Portfolio Flankers Cash cows Low-end entry-level High-end prestige
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Building and
Sustaining Brand Equity © Ike Janita Dewi
Everything can be branded!
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Building a Strong Service Brand: Lessons from Mayo Clinic
Mayo Clinic has developed one of the most powerful service brands in the world.
Three branding lessons:
1. attend to organizational values.
2. play defense, not just offence
3. turn customers into marketers
Berry and Seltman (2007), Building a Strong Service Brand: Lessons from Mayo Clinic, Kelley School of Business, www. elsevier.com/locate/bushor
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A Service Branding Model
Organization’s Presented Brand
External Brand Communications
Customer Experience with Organization
Brand Meaning
Brand Awareness
Brand Equity
Berry and Seltman (2007), Building a Strong Service Brand: Lessons from Mayo Clinic, Kelley School of Business, www. elsevier.com/locate/bushor
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Service Branding Model vs Goods Branding Model
Customers’ actual experiences are salient in both models.
But, for labor-intensive services those experiences are primarily with people rather than manufactured goods.
In services, it is the organization that’s typically branded (because the experience comes from the organization).
For physical goods, the product is the brand.