leveraging secondary brand associations to build brand equity by leroy j. ebert

Secondary Sources of Brand Knowledge

0 The first three entities that reflect these factors

0 Who makes the product

0 Where is the product made

0 Where is it purchased

0 Remaining entities deal with people place or things

What Do Customers Know About The Other Entity

0 Create new association

0 Impact on existing brand knowledge

Guidelines

0 Ingredient branding may reinforce a point of difference against competing brands

0 When selecting a ingredient brand take in to consideration the customers awareness of the ingredient

0 A commodity can get an advantage by simply associating itself with the right ingredient

0 Complimentarity – between brand and ingredient

Company

0 Launch a new brand and use the company’s equity to educate customer on what it stands for.

Country of Origin

0 Japan

0 Switzerland

0 France

0 Sri Lanka

0 Germany

Channels of Distribution

0 ODEL

0 Hameedia

Co-branding

Guidelines to Co-branding

0 Both brand should have equal awareness

0 Sufficiently strong

0 Favorable

0 Unique associations

0 Positive consumer judgments and feelings

Ingredient Branding

Licensing

Guidelines for Licensing

0 Don’t get caught up, one minute they are in next minute they are gone

0 Multiple license agreements results in over exposure and wearing out quickly

0 If your brand gets over exposed, either you will close or you will sell

Celebrity Endorsements

Celebrity Endorsement Overdose

0 A celebrity that endorses a countless number of brands across multiple categories, with varying brand equity levels, targeting wider demographic profiles; is like a brand that has stretched itself beyond its capacity.

0 Such celebrities may not add strategic value to the brand

0 Once the celebrity switches to another brand so will majority of the customers.

Celebrity Issues

0 Sponsoring for the sake of sponsoring will not bring results 0 There needs to be a strategic fit between the brand and the celebrity who

endorses the brand 0 The celebrities actions, behavior, comments etc will have direct impact on

the brands performance

Conflict in Brand Image Representation

No Fans No Endorsements

https://www.youtube.com/watch?v=XW0LZ3zoOks

Sponsoring Events

0 Use popular events with a loyal following to create links and associations.

0 The equity of the event will be rubbed off on the brand that is sponsoring it.

0 Just sponsoring will not mean a lot to the participants/customers, instead the brand needs to create an opportunity for the brand to interact with the participants and also create a brand experience.

0 When budgeting for an event sponsorship allocate a separate budget to promote the event via ATL & BTL media and also for activations and give away's.

3rd Party Sources

0 Endorsements from leading magazines

Content Extracted from “Strategic Brand Management” 3rd Edition

Authors: Kevin Lane Keller

M.G. Parameswaran

Issac Jacob

Presentation developed from SLIM Diploma In Brand Management Students

Presentation developed by Leroy J. Ebert (17th May 2014)