B Brand d Management M t

Lecture # 2

Imran Akram

Q i k Revision Quick R i i
z z z z z

Product Vs Brand Types of Brands World TOP Brands 2012 Brand of the year Award Brand Equity

Brand Equity q y as a Bridge g

z

Reflection of past investments in the marketing of a brand

Direction for future marketing actions or programs

Q Questions ti
1 1. 2.

What makes a strong brand ? How do you build a strong brand ? Customer Based Brand Equity (CBBE) The differential effect that brand knowledge has on consumer response to the marketing of that brand.
Keller, , 1993

Making a Brand Strong

z

Brand Knowledge
z

is the key to creating brand equity

Helpful model, model Psychologists

z

Associative network memory model---

Sources of Brand Equity

z
z

Brand Knowledge is conceptualise here;

..as consisting of a brand node in memory with a variety of association linked to it it

z 1. z

2 components Brand awareness ..can measure as consumers ability bilit t to identify the brand under different conditions conditions

Brand Awareness
i.
z

Brand Recognition ..relates to consumers' ability to confirm prior exposure to the brand when hen gi given en the brand as a c cue e
..brand as having been previously seen (exposed) or heard.

ii.
z

Brand Recall
relates to consumers ability to retrieve the brand from memory when given the ___ as a cue
z z z
z

product category, th needs the d f fulfilled lfill d by b the th category, t or a purchase or usage situation.
Consumers correctly generate the brand from memory when given a relevant probe

Brand Recognition / Brand R Recall ll

Importance When consumer decisions are made at the point of purchase

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

Advantages of creating a High Level of Brand Awareness

1.

Consideration advantages z .Likelihood that the brand will be a member of the consideration set
z

C Consideration f for Purchase

2.
z

Choice advantages g
Consumers have to adopt a decision rule to Buy only more familiar, well-established brands

Establishing Brand A Awareness areness

Brand Knowledge
2. z

Brand Image is consumer perceptions of a brand

z

as reflected by the Brand Associations held in consumers memory.

Brand Association
z

are the other informational (nodes) linked to the brand (node) in memory and
z

contain the meaning of the brand for consumers.

Brand Image
z

Creating a Positive Brand Image takes marketing programs

z

that link strong, favorable & unique associations

Consumer forms beliefs about

z

Brand Attributes
z

are those descriptive features that characterize a product or service are the personal value and meaning the consumer attach to the product or service attribute

Brand Benefits
z

B Brand d Associations A i ti
1 1.

Creating strongest brand attribute and brand benefit association

2 2.

Favorability of Brand Association

3.

Uniqueness of Brand Associations

Building a Strong Brand

The Four Steps of Brand Building
z

Customer Based Brand Equity looks a brand as a sequence of Steps..

z

Each of which is contingent on successfully achieving the objective of previous one

Building a Strong Brand

The Four Steps of Brand Building
1 1.

2.

3.

4.

Ensure identification of the brand with customers and an association of the brand in customers minds Establish the totality of brand meaning in the minds of consumers Elicit the proper customer responses to the brand identification and brand meaning C Convert b brand d response to create an intense, i active loyalty relationship between customers and the brand

Four Questions Customers ask about Brands

1 1. 2. 3.

4.

Who are you? (brand identity) What are you? (brand meaning) What about you? What do I think or feel about you? (brand responses) What about you and me? What kind of association and how much of a connection would ld I like lik to t have h with ith you? ? (brand (b d relationships)

CustomerCustomer -Based Brand Equity Model

Rational Route
4. RELATIONSHIPS = What about you and me?

Emotional Route
ConsumerBrand Resonance
INTENSE, ACTIVE INTENSE LOYALTY

3. RESPONSE = What about you?

Consumer Judgments

Consumer Feelings

RATIONAL & EMOTIONAL REACTIONS

2. MEANING = What are you?

Brand Performance

Brand Imagery

POINTS-OFPARITY & POINTS-OFDIFFERENCE

1. IDENTITY = Who are you?

Brand Salience

DEEP, BROAD BRAND AWARENESS

Subdimensions of brand building bl k blocks

Resonance
Loyalty Attachment Community Engagement Quality Q lit Credibility Consideration Superiority
Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency, & Empathy E th Style and Design; Price

4 Brand Relationships (WHAT About You AND ME?)

Judgments

Warmth, W th Fun F Excitement, Security, Social Approval, Self-Respect

F li Feelings
3 Brand Response (WHAT About You?)

Performance

User Profiles Purchase and Usage Situations Personality & Values History Heritage History, Heritage, & Experiences

Imagery
2 Brand Meaning (WHAT Are You?)

Category Identification Needs Satisfied

1 Brand Identity (WHO Are You?)

Salience

Salience Dimensions
z

.. Measures awareness of the brand

Building awareness helps customers understand
z

Brand Easily recalled or recognized

the product th d t or service i category t i which in hi h b brand d competes which of their needs the brandbrand (through these products)- is designed to satisfy
To what extent is the brand top of the mindmind (Brand Recall)

The Brand Awareness Pyramid y

Salience Dimensions
z

Depth & Breadth of brand awareness

The depth of brand awareness
z

1.

measures how likely it is for a brand element will come to mind and the ease with which it does so. z a brand easil easily recall has a deeper le level el of brand awareness

2.
z

The breadth of brand awareness measures

the range of purchase and usage situations in which the brand element comes to mind.

Thank you