Brand Building HOW CAN WE BUILD A SUCCESSFUL BRAND ? Farida Afifi, Annabelle Faiss, Lise Marguet

Definitions Brands:  Brands provide the baisis upon which consumers can identify and bond with a product or a service or a group of products or services. (Weilbacher,1995) Successful brand:  A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user percieves relevant, unique added values which match their needs most closely. (Cheernatony and McDonald,1998) Farida Afifi, Annabelle Faiss, Lise Marguet

Why is it important to have a successful brand  Customer loyalty  Competitive marketing actions  Customer’s response  Communication effectiveness Farida Afifi, Annabelle Frais, Lise Marguet

Brand Building Process What makes a brand strong ? How can we build a strong brand ?  Customer Based Brand Equity model  Power of a brand resides in the minds of customers  Linked mind’s customers to the brand Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model The Four Steps of Brand Building : 1) Brand identity 2) Brand meaning 3) Brand response 4) Brand relationship Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model Brand Building Blocks : Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model 1) Brand identity Brand salience  Related to brand awareness  Influences brand associations A brand must be top of mind at the right times and right places ! ! Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model 2) Brand meaning Brand performance and Brand imagery  Brand performance: intrinsinc properties (reliability, durability, effectiveness, efficiency, style and design, price…)  Brand imagery: intangible aspects of the brand Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model 3) Brand response Consumer judgments and feelings  Consumer judgments: based on brand quality, credibility, consideration and superiority  Consumer feelings: fun, excitment, security, social approval and self respect Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model 4) Brand relationship Consumer Brand resonance  Behavioural loyalty  Attitudinal attachment  Sense of community  Active engagment Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Building Process - CBBE model Farida Afifi, Annabelle Faiss, Lise Marguet

EXAMPLE: Nivea Farida Afifi, Annabelle Faiss, Lise Marguet

1) Identity Men Kids Women Farida Afifi, Annabelle Faiss, Lise Marguet

2) Meaning  Identity: blue and white color combination  Blue = sympathy, harmony, friendship and loyalty  White = external cleanliness as well as inner purity  Blue and White = ideal for honest and appealing brand Farida Afifi, Annabelle Faiss, Lise Marguet

3) Responses  Icon beauty classic used by millions of women all over the world  Brand’s signature product (warmth, security & self respect) Farida Afifi, Annabelle Faiss, Lise Marguet

4) Relationships Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Equity  Goal of Brand Building high Brand Equity  Key marketing asset  create a unique relationship between the firm and its stakeholders  leads to long term buying behavior  Brand Equity got more important since 15 years  important to understand the objectives, the mechanisms, and net impact of the entire impact of marketing many studies Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Equity - Literature Review Two different research perspectives:  Firm Based Brand Equity  Costumer Based Brand Equity Brand Equity = what the brand is worth to a customer Research results differential effect, Brand knowledge & costumer response Firm ValueCustomer Value Competetive advantagePractically Increase in customer demandGuarantee More effective communication campaignsCharacterization Better trade leverageOptimization Farida Afifi, Annabelle Faiss, Lise Marguet

Brand Equity - Literature Review Customer-based Brand Equity  Customers are the driving force  Concept derived from cognitive psychology and information economics  Product and category specific (Car performance)  Essential for products and for services  Research rarely based on services Future Research  Brand Equity impact of services  Relative strength of brand equity by type of user Farida Afifi, Annabelle Faiss, Lise Marguet

References  Christodoulides, G., & De Chernatony, L. (2010). Consumer-based brand equity conceptualization and measurement: A literature review. International journal of research in marketing, 52(1),  Keller, K. L. (2001). Building customer-based brand equity: A blueprint for creating strong brands,   Farida Afifi, Annabelle Faiss, Lise Marguet