Initial choices for brand elements making up the brand( like brand names, logos, symbols, jingles ) Product and service and all accompanying marketing activities and supporting marketing programs Other associations indirectly transferred to the brand by linking it to some other entity(a person, place, or thing)1 2 3 MEMORABILITY- Ease of recognition of brand element. MEANINGFULNESS- Credibility of the brand element. LIKABILITY- Aesthetic appeal of the brand element. TRANSFERABILITY- Introduction of new products in the same or different categories with the same brand element. ADAPTABILITY- Updatability of the brand element. PROTECTABILITY- Legal safety of the brand element. Designing Holistic Marketing Activities Brand contact is any information bearing experience,whether positive or negative, a customer or prospect has with the brand, its product category,or its market. BRAND CONTACT Integrated marketing is mixing and matching marketing activities to maximize their individual and collective effects. INTEGRATED MARKETING This is a way of building brand equity by linking the brand to other information in memory that conveys meaning to consumers. Secondary brand associations can link the brand to sources, such as the company itself(through branding strategies), to countries or other geographical regions(through identification of product origin), and to channels of distribution(through channel strategy as well as to other brands, sports or cultural events or some other third party sources. To Measure Brand Equity To Measure Brand Equity Indirect approach assesses potential sources of brand equity by identifying and tracking consumer brand knowledge structures. Direct approach assesses the actual impact of brand knowledge on consumer response to different aspects of the marketing. Stages Of Brand Value Chain 1. Investment in a marketing program to develop the brand, including product research, development and design. 2. Assumption of customers mind-sets, buying behavior and response to price change as a result of the marketing program. 3. Consideration of market performance, replacement cost and purchase price in acquisitions to assess shareholder value in general and the value of brand in particular. Market segmentation to divide the market in which the brand is sold into mutually exclusive segments that help determine vacancies in the brands different customer groups Financial analysis to assess purchase price, volume, and frequency to help calculate accurate forecasts of future brand sales and revenues. Role of branding to identify the various drivers of demand, then determining the degree to which the brand directly influences each. Assessment of brands strength profile to determine the likelihood that the brand will realize forecasted Brand Earnings. Brand value calculation- Brand value is the net percent value(NPV) of the forecasted brand earnings discounted by the Brand Discount Rate. The NPV calculation comprises both the forecast period and the period beyond, reflecting the ability of brands to continue generating future earnings. 1. By conveying what products it represents, what core benefits it supplies, and what needs it satisfies. 2. By conveying how the brand makes the products superior and which strong, favorable and unique brand associations should exist in consumers minds. To understand the original sources of brand equity. To decide whether to retain the old brand associations or to create a new one, and if so, which one.