Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

UNO MKT4300_Chapter 8

Kotler and Keller
by

Michael Breazeale

on 10 March 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of UNO MKT4300_Chapter 8

Creating
Brand Equity
Dr. Mike Breazeale
MKT 4300
Marketing Management
What is a brand?
A brand is 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.
Why brand?
Brands allow consumers to assign responsibility for the performance of a product.
Brands also serve to simplify consumer decision making.
Brands simplify product handling for the firm.
Brands allow the firm to legally protect their asset through copyrights, patents, or trademarks.
Brands allow firms to safely invest in their asset with the knowledge that they will be able to reap the benefits of the investment.
Branding
Brands can serve as a barrier to entry.
Brands allow the firm to charge a price premium.
is endowing products and services with the power of the brand.

It involves creating differences among products in the consumer's mind by teaching consumers what the product stands for.

This allows consumers to form mental structures that help them to organize their knowledge about an offering.
What can be branded?
Brand equity is the added value endowed on products
and services, which may be reflected in the way consumers, think, feel, and act
with respect to the brand.
What is Brand Equity?
Larger margins

More inelastic consumer response

Greater trade cooperation

Increased marketing communications effectiveness

Possible licensing opportunities
Improved perceptions of product performance

Greater loyalty

Less vulnerability to competitive marketing actions

Less vulnerability to crises
Advantages of Strong Brands
A brand promise is the marketer’s vision of
what the brand must be and do for consumers.

In order for it to matter, the customer
must perceive that it offers value!
What is a Brand Promise?
Brand Resonance
Brandz
Brand Asset Valuator (BAV)
Brand Equity Models
BAV Model
Brand Dynamics Pyramid
Brand Resonance Pyramid
Brand equity depends
on all touchpoints.
But there are 3 main drivers:
1.) The initial choices for brand elements or identities that make up the brand image
2.) The product, service, and all accompanying marketing activities/supporting programs
3.) Other associations transferred to the brand through linking it to another entity, person, place, or thing
Brand Elements
Brand Name
URL
Logo
Symbol
Character
Spokesperson
Slogan
Jingle
Package
Signage
www.coke.com
Protectable
Adaptable
Transferable
Likeable
Meaningful
Memorable
How do you choose GREAT brand elements?
Brand Community
Secondary Sources of Brand Knowledge
A specialized community of consumers and employees
whose identity and activities focus around the brand
Sense of connection to the brand, the firm, the product, and other community members
Shared rituals, stories, and traditions that help convey meaning
Shared responsibility to the community and individual members
Some Important Branding Terms
Brand Portfolio
The set of all brands and brand lines a firm offers for sale in a particular category or market segment
Brand Line
All products sold under a particular brand (including all extensions)
Brand Extension
Using an established brand to launch a new product
Category Extension
Using a parent brand to enter a different category from the one it already serves
Parent Brand
An existing brand that gives birth to an extension or a sub-brand
Brand Portfolio Roles
Flanker (or Fighter)
Flagship
Cash Cow
Entry level (low-end)
Prestige (high-end)
The profitable main brand
Positioned against competitor brands to protect he Flagship
Profitable even without marketing support
Attract customers to the franchise for trading up
High price adds prestige and credibility to the franchise
One Potential Concern
Brand Dilution
When brand extensions cause customers to no longer associate a brand with a specific product or highly specific set of characteristics, thinking less of the brand
Full transcript