Brand Equity: By, Rosalia Prakruthi D

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Brand equity

By, Rosalia Prakruthi D

What is a brand and how does branding work? What is brand equity? How is brand equity built, measured, and managed?

What is a Brand?
A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors

The Role of Brands


Identify the maker

Simplify product handling

Organize accounting

Offer legal protection

The Role of Brands


Signify quality
Create barriers to entry Serve as a competitive advantage

Secure price premium

Branding
Endowing products and services with the power of a brand. To brand a product, it is necessary to teach consumers who the product is-as well aswhat the product does and why consumers should care Branding involves creating mental structures and helping consumers organize their knowledge and products and services in a way that clarifies their decision making and, in the process, provides value to the firm

MOST VALUABLE GLOBAL BRANDS Coca-Cola - $67.5bn (US) Microsoft - $59.9bn (US) IBM - $53.4bn (US) General Electric - $50bn (US) Intel - $35.6bn (US) Nokia - $26.5bn (Finland) Disney - $26.4bn (US) McDonald's - $26bn (US) Toyota - $24.8bn (Japan) Marlboro - $21.1bn (US)

Brand Equity
Brand equity is the added value endowed to products and services. This value may be reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share, and profitability that the brand commands for the firm.

Brand Equity Models


Brand Asset Valuator Aaker Model BRANDZ Brand Resonance

Brand Asset Valuator (BAV)

Knowledge

Brand Equity

Esteem

Relevance

Differentiation

BAV Power Grid

Aaker Model Brand Identity

Brand-as-product

Brand-as-organization

Brand-as-person

Brand-as-symbol

Aaker Model Brand Assets


Brand loyalty
Brand associations Proprietary assets Brand awareness Perceived quality

Brand Resonance Pyramid

Drivers of Brand Equity

Brand Elements Marketing Activities Meaning Transference

Brand Elements
Brand names URLs

Slogans

Elements Logos

Characters

Symbols

Brand Element Choice Criteria


Memorable Meaningful Likeability

Transferable Adaptable Protectible

Designing Holistic Marketing Activities


Personalization Integration Internalization

Leveraging Secondary Association


The third and final way to build brand equity, to borrow it Brand equity may be created by linking the brand to other information in memory that conveys meaning to consumers.

Secondary Sources of Brand Knowledge

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