Lecture2 [Compatibility Mode]

7/27/2019 Lecture2 [Compatibility Mode]

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ran anagemen

Lecture # 2

Imran Akram


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u c ev s on

z z Types of Brandsz World TOP Brands 2012z Brand of the year Awardz Brand Equity


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Brand E uit as a

Brid e

marketing of a brand

z Direction for future marketing actions or programs


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ues ons

. 2. How do you build a strong brand ?

z Customer Based Brand Equity (CBBE)

z The differential effect that brand knowledge hason consumer response to the marketing of thatbrand.

Keller, 1993


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Making a Brand Strong

z Brand Knowledgez is the key to creating brand equity

z ,z Associative network memory model---


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Sources of Brand Equity

z ..as consisting of a brand node in memory

z 2 components

1. Brand awarenessz ..can measure as consumer s a ty to

identify the brand under different


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Brand Awarenessi. Brand Recognition

z ..relates to consumers' ability to confirm prior exposurew v u

z ..brand as having been previously seen (exposed) or heard.

ii. Brand Recallz relates to consumers ability to retrieve the brand from memory

___

z product category,z e nee s u e y e ca egory,z or a purchase or usage situation.

z onsumers correc y genera e e ran rom memory w en g ven a re evanprobe


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Brand Recognition / Brandeca

Importance

When consumer decisions are madeat the point of purchase

When consumer decisions are made in settings away from the point of purchase..


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Advantages of creating a High Level of

Brand Awareness

1. Consideration advantagesz

.Likelihood that the brand will be a member of the consideration setz onsideration or Purchase

2. Choice advantagesz Consumers have to adopt a decision rule to Buy only

more familiar, well-established brands

z s a s ng ran wareness


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Brand Knowledge

2. Brand Ima ez is consumer perceptions of a brand

consumers memory.

z Brand Associationz are the other informational nodes linked to the

brand (node) in memory andz contain the meaning of the brand for consumers.


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Brand Image

z Creating a Positive Brand Image takes marketing

z that link strong, favorable & unique associations

z Consumer forms beliefs aboutz Brand Attributes

z are those descriptive features that characterize a product or

z Brand Benefitsz are the personal value and meaning the consumer attach to the

product or service attribute


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ran ssoc a ons

. benefit association

. v y

3. Uniqueness of Brand Associations


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Building a Strong BrandThe Four Steps of Brand Building

z as a sequence of Steps..

achieving the objective of previous one


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Four Questions Customers ask aboutBrands

. 2. What are you? (brand meaning)3. What about you? What do I think or feel

about you? (brand responses)4. What about you and me? What kind of

association and how much of a connection

wou e to ave w t you ranrelationships)


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CustomerCustomer- -Based Brand Equity ModelBased Brand Equity ModelINTENSE ACTIVE

Emotional RouteRational Route

Consumer-BrandResonance

INTENSE, ACTIVELOYALTY

me?

4. RELATIONSHIPS =

What about you andme?

ConsumerJudgments

ConsumerFeelings

RATIONAL &EMOTIONAL

REACTIONS

3. RESPONSE =

What about you?Judgments Feelings

POINTS-OF-PARITY &

POINTS-OF-. MEANING=

BrandPerformance

BrandImagery

DIFFERENCE

DEEP, BROADBRAND

What are you?

=

What are you?

Brand Salience

BRANDAWARENESS

Who are you?

1. IDENTITY=

Who are you?


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Subdimensions of brand buildingoc s

Resonance

AttachmentCommunityEngagement

4 Brand Relationships (WHAT About You AND ME?)

Judgmentsee ngsua y

CredibilityConsiderationSuperiority

arm , unExcitement,Security, Social

Approval,Self-Respect

3 Brand Response (WHAT About You?)

Performance

Imagery

2 Brand Meaning (WHAT Are You?)

User ProfilesPurchase and Usage

SituationsPersonality & Values

Brand Characteristics& Secondary Features

Product Reliability,Durability & Serviceability

Service Effectiveness, Efficiency,

1 Brand Identity (WHO Are You?)

, ,Experiences

mpa yStyle and Design; Price

Category IdentificationNeeds Satisfied

Salience


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Salience Dimensions

..

z Building awareness helps customers understandz

Brand Easily recalled or recognizedz e pro uc or serv ce ca egory n w c ran

competesz

-products)- is designed to satisfy-

Recall)


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The Brand Awareness P ramid


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Salience Dimensions

z Depth & Breadth of brand awareness

1. The depth of brand awarenessz measures how likely it is for a brand element will

come to mind and the ease with which it does so .z y vawareness

2. The breadth of brand awareness measures

which the brand element comes to mind.


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z

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Lecture2 [Compatibility Mode]