chapter 9: creating brand equity
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Marketing Management Assignment Create a Tell & Show Presentation of your favorite concept on Brand EquityTRANSCRIPT
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CHAPTER 9:CREATING BRAND
EQUITY
Increasing Value Through Strategic Brand Management
Anna Michelle P. Gatbonton
September 17, 2013
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1. What is Brand? 2. The Role of Brands3. Defining Brand Equity4. Customer Based Brand Equity5. How to build brand equity6. Brand Naming Strategies
Outline:
The 6 Concepts in Brand Equity
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1. What is Brand?
BRAND
Name
Term
Sign Symbol
Design
To identify the goods or services of a seller and to differentiate them from competitors
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1. Can you recognize these brands?
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1. APPLE: A Branding Success Story
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2. Why brand matters
Distinguish goods of one producer from those of another
Simplifies decision making and reduces
risks for the consumers
Simplify Product handling or tracing &
help organize inventory and
accounting records
Protect unique features or aspects of
the product
Secure competitive advantage through
brand loyalty
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2. How Apple Uses Branding
Distinguishing Producers: Apple vs.
Microsoft
Simplifying Consumers Decision Making:
Apple as the preferred brand of graphic
artists
Simplifying Product Handling: iMac, iPod,
iPad
Protect Unique features: iOS & Itunes
available to Apple users
Brand Loyalty: The MAC Community
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3. Brand Equity is important to Companies because it is…
The added value endowed on products and services May be reflected in the way consumers
Think Feel ActAs well as
Prices Market Share Profitability
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3. Brand Equity could either make or break a company
Positive Customer Based Brand Equity•Consumers act more favorably to the product and the way it is marketed when the brand is identified, than when it is not identified
Negative Customer Based Brand Equity•If consumers react less favorably to marketing activity for the brand
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What do Customers think of Apple?
- Apple has a high brand equity - For the hip and stylish
generation- A lifestyle indicator- Consumers don’t mind
paying a higher premium
- Apple means quality
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BRAND arises from
Differences in RESPONSE
4. There are 3 key ingredients of customer- based brand equity
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Usually true for commodities and generic version of the products
Competition Must be based on
4. If There is no Response
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Brand knowledge consists of thoughts, feelings, images, experiences, beliefs, and so on that it becomes associated with the brand
4. It could also be a result of consumers knowledge of the brand
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PERCEPTION
PREFERENCES
BEHAVIOR
4. …Or a response on how it is marketed
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4. How high is Apple’s Brand Equity?
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5. How to Build your Brand Equity
1. Initial Choices for the brand elements or identities making up the brand
1. Brand names 6. Spokespeople
2. URLs 7. Slogans
3. Logos 8. Jingles
4. Symbols 9. Packages
5. Characters 10. Signage
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5. Keep in mind that brand elements should be…
• How easy to recall and recognize?Memorable • Is it credible & suggestive of the category? • Does it suggest something about the product? Meaningful• How aesthetically appealing?• Is it likable visually, verbally and other ways?Likable • Can it be used to introduce new products in the
same market segment?Transferable• How adaptable and updatable is the brand?Adaptable• How legally protectible is the brand element?• How competitively protectible? Protectible
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5. Designing holistic marketing activities can also build brand equity
2. Products and services and all accompanying marketing activities and supporting marketing programs
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5. Use new themes in designing brand-building marketing programs
Personalize
Integrate
Internalize
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5. Build your brand equity by ‘borrowing’ it
3. Create brand equity by linking brand to other information in memory that conveys meaning to consumers
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4. Brands can also link to other sources
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5. How does Apple Build its Brand Equity?
Brand Equity Driver What Apple is Doing
1. Brand Element - The Iconic logo- Putting I to its
consumer products (iPod, iMac, iTunes)
2. Marketing Activities - Hyped product launches
- Experiential marketing
- Build a community
3. Secondary Brand Associations
- Steve Jobs - The Apple Store
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6. Strategies to Brand Naming
1. Individual Names Generals Mills
2. Blanket Family NamesHeinz
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6. Strategies to Brand Naming
3. Separate Family Names for all productsSears
4. Corporate name combined with individual product names
Sony
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… phone
… music player
… tablet
… personal computer
6. Apple and Its iNaming Strategy
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Branding is an important marketing tool whose main goal is to:
Identify and differentiate
Create value to the consumers
…In Summary
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CHAPTER 9:CREATING BRAND
EQUITY
A Show & Tell Assignment
Anna Michelle P. Gatbonton
September 17, 2013