najih suraya creating brand equity
TRANSCRIPT
Creating Brand Equity
NAJIH SURAYA (15/391824/PEK/21270)NINA RATNA(15/391827/PEK/21273)
Questions
1. What is a brand, and how does the branding work?
2. What is brand equity?3. How is brand equity build?4. How is brand equity measured?5. How is brand equity msnsged?6. What is brand architechture?7. What is customer equity?
A brand as “a name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services of one seller or group sellers and to differentiate them from those of competitors”
How does branding work?
Brands identify the maker of a product and allow consumers to assign responsibility for its performance to that maker or distributor.
The Role of Brands
A PromisePersonal Meaning /
Identity
Legal protectionSimplify product
Brand Signals CUSTOMER
FIRMS
The Scope of Brands
Branding is the process of endowing products and services with the power of a brand. It’s all about creating differences between products.
Endowed to product and services with consumers
Defining Branding Equity
Think, feel, and act with respect to the brand
Negative customer-based brand equity
Positive customer-based brand equity
Customer-
based brand equity
differences in
consumer response
brand knowledge
perceptions, preferences, & behavior
Brand Equity
Models
Company appears to have come up with another brand
winner
Some Key Benefits of brand equity
Building Brand Equity
Brand Asset Valuator Model
Source: Courtesy of BrandAsset Consulting, a division of Young & Rubicam
The Universe of Brand Performance
Brand Dynamics employs a set of simple scores that summarize a brand’s equity and are relatable directly to real world financial and business outcomes.
Brandz Marketing
power
potential
premium
meaningful
salientdifferent
Brand Association
Brand Predisposition
MARKET
Brand Dynamics Models
Brand Resonance Model
The brand resonance model also views brand building as an ascending series of steps, from bottom to top:
Brand Resonance Pyramid
http://www.mastercardbrandcenter.com
Brand Saline
Brand Performance
Brand Imagery
Brand Judgement
Brand Resonance
Brand Feeling
Building Brand Equity
Choosing Brand Elements
Marketers should choose brand elements to build as much brand equity as possible
Designing Holistic Marketing Activities
personal observation and use
word of mouth
interactions with company
A 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.
Integrated marketing
Integrated marketing is about mixing and matching marketing activities to maximize their individual and collective effects.
Advertising Sales Promotion
Personal Selling Public Relation (PR)
Word of MouthEvent
Leveraging Secondary Associations
Secondary Sourceof Brand Knowledge
Internal Branding» Internal branding consists of activities and processes that
help inform and inspire employees about brands. Holistic marketers must go even further and train and encourage distributors and dealers to serve their customers well. Poorly trained dealers or other intermediaries can ruin the best efforts to build a strong brand image.
Brand bonding occurs when customers experience the company as delivering on its brand promise. All the customers’ contacts with company employees and communications must be positive.
The brand promise will not be delivered unless everyone in the company lives the brand.
Principles for internal branding
The Brand Value Chain
Measuring Brand Equity» Due to brand equity to perform a useful strategic function
and guide marketing decisions, marketers need to fully understand the sources of brand equity and how they affect outcomes of interest and how these sources and outcomes change, if at all, over time. Brand audits are important for the former; brand tracking for the latter.
Brand Audit
Brand Tracking Studies
The world's 10 Most Valuable Brands in 2015
What is a Brand Worth?
Managing Brand Equity
Marketers can reinforce brand equity by consistently conveying the brand’s meaning in terms of »what products it represents, what core benefits it supplies, and what needs it satisfies; »how the brand makes products superior and which strong, favorable, and unique brand associations should exist in consumers’ minds.
Any new development in the marketing environment can affect a brand’s fortunes. Nevertheless, a number of brands have managed to make impressive comebacks in recent years.
Brand Revitalization
Brand Reinforcement
Devising a Branding Strategy
When a firm uses an established brand to introduce a new product, the product is called a brand extension.
develop new brand elements for the new productapply some of its existing brand elements
use a combination of new and existing brand elements
Deciding how to brand new products is especially critical. A firm has three main choices:
Brand Architecht
ure
Devising a Branding Strategy
Branding Decisions
Individual / separate family brand names
Corporate umbrella / company brand name
Sub-brand name
General Branding Strategies
Brand Portfolios
Multiple Brands Reasons
1. Increasing shelf presence and retailer dependence in the store2. Attracting consumers seeking variety who may otherwise have switched to another brand3. Increasing internal competition within the firm4. Yielding economies of scale in advertising, sales, merchandising, and physical distribution
Brand portfolio is the set of all brands and brand lines a particular firm offers for sale in a particular category or market segment.
Brand Portfolio Example
Starwood Hotels
Brand Roles
Flankers / Fighter Brand
Low End Entry Level
Cash Cow
High End Prestige
Flankers / Fighter Brand
Low End Entry Level
High End Prestige
Cash Cow
Brand Extensions
Success CharacteristicResearch Insights on Brand Extensions
Source: kevin Lane keller, Strategic Brand Management, 4th ed. (Upper Saddle River, NJ: Pearson, 2013).
Customer Equity
The brand equity and customer equity perspectives certainly share many common themes. Both emphasize the importance of customer loyalty and the notion that we create value by having as many customers as possible pay as high a price as possible.
The aim of customer relationship management (CRM) is to produce high customer equity. Although we can calculate it in different ways, one definition is “the sum of lifetime values of all customers.”
Acquisition Retention
Customer Lifetime Value
Add-on Spending
Marketing Memo “Twenty-First-Century Branding”
