B UILDING STRONG BRANDS. In This Chapter, We Will Address The Following Questions : 1.What is brand, and how does branding work? 2.What is brand equity?

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Presentation transcript:

B UILDING STRONG BRANDS

In This Chapter, We Will Address The Following Questions : 1.What is brand, and how does branding work? 2.What is brand equity? 3.How is brand equity build, measured and managed? 1.What is brand, and how does branding work? 2.What is brand equity? 3.How is brand equity build, measured and managed?

LOYATY EQUITY CULTURE TRUST SUCCESS VALUE MISSION INSPIRATION LEADERSHIP LOYATY EQUITY CULTURE TRUST SUCCESS VALUE MISSION INSPIRATION LEADERSHIP

* Attributes * Benefits * Values * Culture * Personality * Use

Brand : Name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services of a seller or group of seller and to differentiate them from those of competitors !! Brand : Name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services of a seller or group of seller and to differentiate them from those of competitors !!

Role of Brands : Brands : Identify source/maker Simplifies decision making Reduces risk Consumer Benefits

Role of Brands : Marketers Benefits Simplify product handling Protect unique features Create loyalty Establish barriers to entry

Branding is endowing products and services with the power of a brand. Branding can be applied virtually anywhere a consumer has a choice.

The Scope Of Branding : Creating differences between product

It is possible to brand a physical good (Pantene shampoo), a service (Qatar Airlines), a store (Big Bazaar), a person (actress Angelina Jolie or tennis player Rafael Nadal), a place (the city of Sydney), an organization (UNICEF), or an idea (freedom of speech)

Brand Equity Is the added value endowed on product and services because of the brand. Is the added value endowed on product and services because of the brand.

Costumer _ based Brand equity Differences in customer responses Customer brand’s knowledge Perceptions, preferences and behaviors

Brand Promise Is the marketer’s vision of what the brand must be and do for consumers.

“To be genuine, fun, contemporary, and different in everything we do at a reasonable price..

B RAND E QUITY M ODELS BrandAsset® Valuator (BAV) Brandz Brand Resonance

(BAV) is a brand management tool and global database of consumer perceptions of brands. the BAV model turned the prevailing theory of how brands are built upside down.

F IGURE 9.1 BAV M ODEL

Presence Relevance Performance Advantage Bonding Strong Relationship Weak Relationship F IGURE 9.3 B RAND D YNAMICS P YRAMID

F IGURE 9.4 B RAND R ESONANCE P YRAMID

Choosing Brand Elements

sometimes called brand identities, are those trademark able devices that serve to identify and differentiate the brand Brand Elements

Brand name Slogans Characte rs symbols URLs Logos

BRAND ELEMENTS CHOICE CRITERIA Brand Builders Memorable Meaningful Likable Defensive Transferable Adaptable Protectable

Developing BRAND ELEMENTS Easy to recall Descriptive Persuasive Easy to recall Descriptive Persuasive

Measuring Brand Equity Brand Audit Brand – tracking studies

Figure : The world's most valuable brands

Holistic Marketing Activities : Word of Mouth Observation Interaction with Company