Building Brand Equity

Rajan Arora

Session Objectives
Choosing brand elements Criteria for choosing brand elements Tactics for choosing brand elements Various marketing programs for building brand equity Integrated marketing effort

Brand Elements
Brand Elements are those devices which serve to identify and differentiate the brand. The main ones are brand names, URLs, logos, symbols, characters, spokespersons, slogans, jingles, packages and signages.

Criteria for choosing brand elements

Memorable -Easily recognized -Easily recalled Meaningful - Descriptive - Persuasive Likable -Fun & interesting -Rich visual & verbal imagery -Aesthetically pleasing

Transferable -Within & across product categories -Across geographic boundaries & cultures Adaptable -Flexible -Updatable Protectable -Legally -Competitively

Options & Tactics for Brand Elements

1. Brand Names It is often the central theme and is very often the shorthand means of communication. The brand name should be: a) simple and easy to pronounce & spell b) familiar & meaningful c) differentiated, distinctive & unique

2. URLs Uniform Resource Locators also called as domain names. An average global companies have as many as 200 to 300 registered URLs.

3. Logos & Symbols Logos visually represent the names. The logos generally are word marks. E.g. Coca-cola, Kit Kat. The non word marks are called as symbols. E.g. Ralph Laurens polo player, mercedes star, rolex crown.

4. Characters They represent special type of brand symbol. E.g. Zoozoo, Ronald McDonald, Allianz Bajaj Insurance Agent, Duracell Bunny

5. Slogans these are short phrases which communicate descriptive or persuasive information about the brand. They play important role in advertisement but may also be a part of packaging. E.g. the citi never sleeps, the best a man can get.

6. Jingles these are musical messages written around the brand. E.g. Khuda jaane, pied piper music of reliance

7. Packaging is the activities of designing & producing containers or wrappers for a product. Packaging helps in: - Identifying the brand. - Convey descriptive & persuasive information. - Facilitate product transportation & protection. - Assist at home storage. - Aid product consumption.

MARKETING PROGRAMS FOR BUILDING BRAND EQUITY

New perspectives on Marketing

Digitalization & Connectivity ( through Internet, intranet & mobile devices) Disintermediation & Reintermediation (via new middlemen of various sorts) Customization & customerization (through tailored products & ingredients provided by customers to make products themselves) Industry Convergence (through the blurring of industry boundaries)

Personalising Marketing Experiential Marketing One to One Marketing Permission Marketing Relationship Marketing

Integrating Marketing Programs & Activities

Product Strategies Channel Strategies Communication Strategies Pricing Strategies Other Marketing Activities

Product Strategies
Perceived Quality & Value - Performance - Features - Conformance quality - Reliability - Durability - Serviceability - Style & Design

Product Strategies
Relationship Marketing - Mass Customization - Aftermarketing - Loyalty Programs

Pricing Strategies
Consumer Price Perceptions( Koutons vs VanHeusen) Setting Prices to build Brand Equity - Value Pricing

Channel Strategy
Channel Design - Direct Channels - Indirect Channels