CHAPTER 9: MEASURING SOURCES OF BRAND EQUITY: CAPURING CUSTOMER MINDSET

Kevin Lane Keller Tuck School of Business Dartmouth College

9.1

Qualitative Research Techniques

Free association
What do you like best about the brand? What are its positive aspects? What do you dislike? What are its disadvantages? What do you find unique about the brand? How is it different from other brands? In what ways is it the same?

9.2

Free Associations
ATTRIBUTES
User Imagery Product-Related Western, American, blue collar, hard-working, traditional, strong, rugged, and masculine Usage Imagery Appropriate for outdoor work and casual social situations Brand Personality

Blue denim, shrink-to-fit cotton fabric, button-fly, two-horse patch, and small red pocket tag

LEVIS 501
High quality, long lasting, and durable Functional

Honest, classic, Contemporary, approachable, independent, and universal

Comfortable fitting and relaxing to wear

Experiential

Feelings of self-confidence and self-assurance

Symbolic

BENEFITS

9.3

Qualitative Research Techniques

Projective techniques

Diagnostic tools to uncover the true opinions and feelings of consumers when they are unwilling or otherwise unable to express themselves on these matters

9.4

Projective Techniques

Consumers might feel that it would be socially unacceptable to express their true feelings Projective techniques are diagnostic tools to uncover the true opinions and feelings of consumers Examples:
Completion and interpretation tasks Comparison tasks

9.5

Projective Techniques

Word association tests Sentence completion method Third-person technique Role playing T.A.T. Picture frustration version of T.A.T.

Expressive Techniques
In expressive techniques, respondents are presented with a verbal or visual situation and asked to relate the feelings and attitudes of other people to the situation. Role playing. Respondents are asked to play the role or assume the behavior of someone else.
Third-person technique. The respondent is presented with a verbal or visual situation and the respondent is asked to relate the beliefs and attitudes of a third person rather than directly expressing personal beliefs and attitudes. This third person may be a friend, neighbor, colleague, or a typical person.

Word Association

Subject is presented with a list of words Asked to respond with first word that comes to mind

Word Association Examples

GREEN

Money Lawn Eggs and Ham

Word Association Examples

CHEESE

Kraft Cheddar Goat

Word Association
EXAMPLE STIMULUS washday fresh pure scrub filth bubbles family towels MRS. M everyday and sweet air don't; husband does this neighborhood bath squabbles dirty MRS. C ironing clean soiled clean dirt soap and water children wash

Completion Techniques
In sentence completion, respondents are given incomplete sentences and asked to complete them. Generally, they are asked to use the first word or phrase that comes to mind.

A person who shops at Sears is ______________________

A person who receives a gift certificate good for Sak's Fifth Avenue would be __________________________________

J. C. Penney is most liked by _________________________

When I think of shopping in a department store, I ________ A variation of sentence completion is paragraph completion, in which the respondent completes a paragraph beginning with the stimulus phrase.

Sentence Completion
People who drink beer are ______________________
A man who drinks light beer is ___________________ Imported beer is most liked by ___________________ A woman will drink beer when____________________

Completion Techniques
In sentence completion, respondents are given incomplete sentences and asked to complete them. Generally, they are asked to use the first word or phrase that comes to mind.

A person who shops at Sears is ______________________

A person who receives a gift certificate good for Sak's Fifth Avenue would be __________________________________

J. C. Penney is most liked by _________________________

When I think of shopping in a department store, I ________ A variation of sentence completion is paragraph completion, in which the respondent completes a paragraph beginning with the stimulus phrase.

Completion Techniques

In story completion, respondents are given part of a story enough to direct attention to a particular topic but not to hint at the ending. They are required to give the conclusion in their own words.

With a picture response, the respondents are asked to describe a series of pictures of ordinary as well as unusual events. The respondent's interpretation of the pictures gives indications of that individual's personality. In cartoon tests, cartoon characters are shown in a specific situation related to the problem. The respondents are asked to indicate what one cartoon character might say in response to the comments of another character. Cartoon tests are simpler to administer and analyze than picture response techniques.

Construction Techniques

A Cartoon Test
Figure 5.4

Sears

Lets see if we can pick up some house wares at Sears.

Thematic Apperception Test

T.A.T.

Thematic Apperception Test (TAT)

Construct a story about what you see on the following picture

Describe: - what led up to the scene - what is happening - what the characters in the story might think or feel - how the story will end

New approach: ZMET

Zaltman Metaphor Elicitation Technique (ZMET) ZMET is a technique for eliciting interconnected constructs that influence thought and behavior.

9.20

ZMET

The guided conversation consists of a series of steps that includes some or all of the following:

Story telling Missed images Sorting task Construct elicitation The most representative picture Opposite images Sensory images Mental map Summary image Vignette
9.21

Step 1. Storytelling: Participants describe the content of each picture. Step 2. Missed Image: Participants describe the picture or pictures that he or she was unable to obtain and explain their relevance. Step 3. Sorting Task: Participants sort pictures into meaningful groups and provide a label or description for each group. Step 4. Construct elicitation: Participants sort pictures into meaningful groups and provide a label or description for each group. Step 5. The Most Representative Picture: Participants indicate which picture is most representative. Step 6. Opposite Images: Participants indicate picture that describe the opposite of the brand or the task that they were given. Step 7. Sensory Images: Participants indicate what does or does not describe the concept in terms of color, emotion, sound, smell, taste, and touch.
9.22

ZMET

ZMET

Step 8. Mental Map: After reviewing the entire construct discussed and asking Participants if the constructs are accurate representations of what was meant and if any important ideas are missing, Participants create a map or causal model connecting the constructs that have been elicited. Step 9. Summary Images: Participants create a summary image or montage using their own images (sometimes augmented by images from an images from an image bank) to express important issues. Digital Imaging techniques may be employed to facilitate the creation of the image. Step 10. Vignette: Participants put together vignette or short video to help communicate important issues.

9.23

Brand Personality and Values

Brand personality refers to the human characteristics or traits that can be attributed to a brand. The Big Five
Sincerity (down-to-earth, wholesome, and cheerful) Excitement (daring, spirited, imaginative, and up-todate) Competence (reliable, intelligent, and successful) Sophistication (upper class and charming) Ruggedness (outdoorsy and tough)

Jennifer Aaker, 1997

9.24

Identifying Key Brand Personality Associations

BUSH

KERRY

Coffee Technology Auto Retail Fast Food

Dunkin Donuts IBM Ford Kmart McDonalds

Starbucks Apple BMW Target Subway

2004 U.S. presidential election, random sample of undecided voters

9.25

Experiential Methods

By tapping more directly into their actual home, work, or shopping behaviors, researchers might be able to elicit more meaningful responses from consumers. Advocates of the experiential approach have sent researchers to consumers homes in the morning to see how they approach their days, given business travelers Polaroid cameras and diaries to capture their feelings when in hotel rooms, and conducted beeper studies in which participants are instructed to write down what theyre doing when they are paged.
9.26

Quantitative Research Techniques

Awareness Image Brand responses Brand relationships

9.27

Awareness

Recognition

Ability of consumers to identify the brand (and its elements) under various circumstances

Recall
Ability of consumers to retrieve the actual brand elements from memory Unaided vs. aided recall

9.28

Awareness

Corrections for guessing

Any research measure must consider the issue of consumers making up responses or guessing.
The advantage of aided recall measures is that they yield insight into how brand knowledge is organized in memory and what kind of cues or reminders may be necessary for consumers to be able to retrieve the brand from memory. The important point to note is that the category structure that exists in consumers mindsas reflected by brand recall performancecan have profound implications for consumer choice and marketing strategy.
9.29

Strategic implications

Image

Ask open-ended questions to tap into the strength, favorability, and uniqueness of brand associations. These associations should be rated on scales for quantitative analysis.

9.30

Brand Responses

Research in psychology suggests that purchase intentions are most likely to be predictive of actual purchase when there is correspondence between the two in the following categories: Purchase Intentions

Action (buying for own use or to give as a gift) Target (specific type of product and brand) Context (in what type of store based on what prices and other conditions) Time (within a week, month, or year)
9.31

Brand Relationships

Behavioral loyalty Brand substitutability Other brand resonance dimensions

For example, in terms of engagement, measures could explore word-of-mouth behavior, online behavior, and so forth in depth

9.32

Comprehensive Models of Customer-Based Brand Equity

Brand dynamics Equity engines Young & Rubicams Brand Asset Valuator (BAV)

9.33

Brand Dynamics

The Brand Dynamics model adopts a hierarchical approach to determine the strength of relationship a consumer has with a brand. The five levels of the model are:
Presence Relevance Performance Advantage Bonding

9.34

Equity Engines

This model delineates three key dimensions of brand affinitythe emotional and intangible benefits of a brandas follows:

Authority: The reputation of a brand, whether as a longstanding leader or as a pioneer in innovation Identification: The closeness customers feel for a brand and how well they feel the brand matches their personal needs Approval: The way a brand fits into the wider social matrix and the intangible status it holds for experts and friends

9.35

Young & Rubicams Brand Asset Valuator (BAV)

There are five key components of brand health in BAVthe five pillars. Each pillar is derived from various measures that relate to different aspects of consumers brand perceptions and that together trace the progression of a brands development.

Differentiation Energy Relevance Esteem Knowledge

9.36

BrandAsset Valuator (BAV)

240,000+ consumers Up to 181 categories 137 studies 40 countries 8 years 56 different brand metrics Common methodology

9.37

How Brands Are Built

Four Primary Aspects

Knowledge Esteem

The culmination of brand building efforts; acquisition of consumer experience Consumer respect, regard, reputation; a fulfillment of perceived consumer promise Relates to usage and subsumes the five Ps of marketing; relates to sale The basis for consumer choice; the essence of the brand, source of margin
9.38

Relevance
Differentiation

Healthy Brands Have Greater Differentiation than Relevance

100

D>R
Examples:
Harley Davidson Yahoo! AOL Williams-Sonoma Ikea Bloomberg Business News
Differentiation Relevance

90 80
70 60 50 40 30 20 10 0

Room to grow... Brand has power to build relevance.

9.39

Brands with greater Relevance than Differentiation Are in Danger of Becoming Commodities
100

R>D
Examples:
Exxon Motts McDonalds Crest Minute Maid Fruit of the Loom Peter Pan (peanut butter)

90 80
70 60 50 40 30 20 10 0

Differentiation

Relevance

Uniqueness has faded; price becomes dominant reason to buy.

9.40

More Esteem than Knowledge Means, Id like to get to know you better
100

E>K
Examples:
Coach leatherwear Tag Heuer Calphalon Movado Blaupunkt Pella Windows Palm Pilot Technics

90 80
70 60 50 40 30 20 10 0

Esteem

Knowledge

Brand is better liked than known.

9.41

Too Much Knowledge Can Be Dangerous:

I know you and youre nothing special
100 90 80 70 60 50 40 30 20 10 0

K>E
Examples:
Plymouth TV Guide Spam Woolworths Chrysler Maxwell House National Enquirer Sanka

Esteem

Knowledge

Brand is better known than liked.

9.42

A Two-Dimensional Framework for Diagnosing Brands: The Power Grid

BrandAsset Valuator

Brand Strength

Brand Stature

Differentiation

Relevance

Esteem

Knowledge

Leading

Lagging

9.43

Brand Health Is Captured on the PowerGrid

Niche/ Unrealized Potential Power Leaders

BRAND STRENGTH (Differentiation and Relevance)

Declining Leaders

Eroded New Unfocused

Base: USA Total Adults BAV 2000

BRAND STATURE (Esteem and Knowledge)

9.44

USA 1999 PowerGrid Sample

100

80

BRAND STRENGTH

60

Arizona Iced Tea Aeropostale Newmans Own Sundance Channel DreamWorks Bloomberg Business News CDnow IKEA San Pellegrino Sun Microsystems Wired Quest Telecomm Nokia iVillage.com NetGrocer Iridium
0 20 40

Coca-Cola Ocean Spray Nike Pepperidge Farm M&Ms Disney Jeopardy! Hallmark Plymouth Bazooka Ivory Snow Pert Rolaids Keds Howard Johnson TWA Greyhound
60 80 100

40

20

Base: USA Total Adults BAV 1999

BRAND STATURE
9.45

Y&R Resonance Research

Resonance (10%)

Community Engagement 15%

Attachment (30%)

Loyalty (60%)

Usage
Base: 2001 BAV Data

9.46

Y&R Resonance Research with BAV

Resonance 100

Resonance Engaged

Community Attached
Engaged

Differentiation

Loyal

Community

Brand Strength

Non-Loyals
50 Attached

Loyal Users

Non-Loyal Users

50

100

Brand Stature

9.47 Base: BAV USA Adults 2001

Average U.S. Packaged Goods Brand

Proportion of Consumers
7% Bonded 32% Advantage 35% Performance 43% Relevance 76% Presence Consumer Loyalty 38%

20%

19%

17%

13%
9.48

Commonalty Between the Basic BAV Model and the CBBE Framework

BAVs knowledge relates to CBBEs brand awareness and familiarity. BAVs esteem relates to CBBEs favorability of brand associations. BAVs relevance relates to CBBEs strength of brand associations (as well as perhaps favorability). BAVs energy relates to CBBEs favorability of associations. BAVs differentiation relates to CBBEs uniqueness of brand associations.
9.49

CHAPTER 10: MEASURING OUTCOMES OF BRAND EQUITY: CAPURING MARKET PERFORMANCE

Kevin Lane Keller Tuck School of Business Dartmouth College

10.50

Measuring Brand Equity

Multi-dimensional concept Many different measures required The ultimate value of a brand depends on the underlying components of brand knowledge and sources of brand equity

10.51

Comparative Methods

Brand-based comparative approaches Marketing-based comparative approaches Conjoint analysis

10.52

Brand-Based Approaches

The marketing element under consideration is fixed. Consumer response is examined based on changes in brand identification. Application example: Blind testing Advantage: Isolates the value of the brand Disadvantage: The totality of what is learned depends on how many applications are examined.
10.53

Marketing-Based Approaches

The brand is held fixed and consumer response is examined based on changes in marketing programs. Applications: Explore price premiums effect on switching, consumer evaluations of marketing activities, brand extensions, etc. Advantage: Ease of implementation Disadvantage: Difficult to determine whether consumer responses are caused by brand knowledge or generic product knowledge
10.54

Conjoint Analysis

A survey-based multivariate technique that enables marketers to profile the consumer decision process with respect to products and brands Helps researchers determine the trade-offs consumers make between brand attributes Applications: Assess advertising effectiveness and brand value; analyze brand/price trade-off Advantage: Allows for different brands or different aspects of the product to be analyzed simultaneously Disadvantage: May violate consumers expectations based on what they already know about brands
10.55

Example: Laptop Profiles

Brand Dell Apple Dell Apple Dell Apple Apple Apple Apple Dell Dell Dell
Hard Drive

RAM 2 GB 4 GB 4 GB 2 GB 4 GB 2 GB 4 GB 2 GB 4 GB 2 GB 4 GB 2 GB

Screen 15.4 in 15.4 in 15.4 in 15.4 in 12.1 in 12.1 in 15.4 in 12.1 in 12.1 in 12.1 in 12.1 in 15.4 in

Price $1,200 $1,200 $900 $900 $1,500 $1,500 $1,500 $900 $1,200 $1,200 $900 $1,500

A 9 6 12 11 4 1 3 8 5 7 10 2

B 6 12 5 11 3 9 10 7 8 1 4 2

320 GB 320 GB 160 GB 320 GB 320 GB 320 GB 160 GB 160 GB 160 GB 160 GB 320 GB 160 GB

Holistic Methods

Attempt to place an overall value on the brand in either abstract utility terms or concrete financial terms Net out various considerations to determine the unique contribution of the brand Holistic methods:
Residual approaches Valuation approaches

10.57

Residual Approaches

Examine the value of the brand by subtracting consumers preferences based on physical product attributes alone from their overall brand preferences Advantage: Useful benchmark for interpreting brand equity, especially from a financially oriented perspective Disadvantage: Static view. Limited diagnostic value for strategic decision making
10.58

Valuation Approaches

Attempt to place a financial value on brand equity for accounting purposes Useful in cases of mergers and acquisitions, brand licensing, fund raising, and brand management decisions Valuation approaches:
Accounting background Historical perspectives General approaches Interbrands brand valuation methodology

10.59

Accounting Background

Intangible assets are typically lumped under the heading of goodwill and include things such as patents, trademarks, and licensing agreements, as well as softer considerations such as the skill of the management and customer relations. In an acquisition, the goodwill item often includes a premium paid to gain control, which, in certain instances, may even exceed the value of tangible and intangible assets.
10.60

Historical Perspectives

In Australia Rupert Murdochs News Corporation included a valuation of some of its magazines on its balance sheets in 1984. British firms used brand values primarily to boost their balance sheets. In the United States, generally accepted accounting principles mean that placing a brand on the balance sheet would require amortization of that asset for up to 40 years. Such a charge would severely hamper firm profitability; as a result, firms avoid such accounting maneuvers.
10.61

General Approaches

In determining the value of a brand in an acquisition or merger, firms can choose from three main approaches:

Cost approach: Brand equity is the amount of money that would be required to reproduce or replace the brand Market approach: The present value of the future economic benefits to be derived by the owner of the asset Income approach: The discounted future cash flow from the future earnings stream for the brand

10.62

Interbrands Brand Valuation

Assumes that brand value is the present worth of the benefits of future ownership Follows five valuation steps:

Market segmentation Financial (role of branding) analysis Demand (brand strength) analysis Competitive benchmarking Brand value calculation

Brand value calculation : Calculate the brand value as the net present value (NPV) of the forecast brand earnings, discounted by the brand discount rate
10.63

Interbrands Brand Valuation

1. Market segmentation. Brands influence customer choice, but the influence varies depending on the market in which the brand operates. The brand is valued in each segment and the sum of the segment valuations constitutes the total value of the brand. 2. Financial analysis. Identify and forecast revenues and earnings from intangibles generated by the brand for each of the distinct segments determined in Step 1. Intangible earnings are defined as brand revenue less operating costs, applicable taxes and a charge for the capital employed. The concept is similar to the notion of economic profit.

10.64

Interbrands Brand Valuation

3. Demand analysis. Assess the role that the brand plays in driving demand for products and services in the markets in which it operates, and determine what proportion of intangible earnings is attributable to the brand measured by an indicator referred to as the role of branding index. This is done by first identifying the various drivers of demand for the branded business, then determining the degree to which each driver is directly influenced by the brand. The role of branding index represents the percentage of intangible earnings that are generated by the brand. Brand earnings are calculated by multiplying the role of branding index by intangible earnings.

10.65

Interbrands Brand Valuation

4. Competitive benchmarking. Determine the competitive strengths and weaknesses of the brand to derive the specific brand discount rate that reflects the risk profile of its expected future earnings (this is measured by an indicator referred to as the brand strength score). This comprises extensive competitive benchmarking and a structured evaluation of the brands market, stability, leadership position, growth trend, support, geographic footprint and legal protectability. 5. Brand value calculation. Brand value is the net present value (NPV) of the forecast brand earnings, discounted by the brand discount rate. The NPV calculation comprises both the forecast period and the period beyond, reflecting the ability of brands to continue generating future earnings.
10.66

CHAPTER 11: DESIGNING AND IMPLEMENTING BRANDING STRATEGIES

Kevin Lane Keller Tuck School of Business Dartmouth College

11.67

Branding strategy

Branding strategy is critical because it is the means by which the firm can help consumers understand its products and services and organize them in their minds. Two important strategic tools: The brand-product matrix and the brand hierarchy help to characterize and formulate branding strategies by defining various relationships among brands and products.
11.68

Branding Strategy or Brand Architecture

The branding strategy for a firm reflects the number and nature of common or distinctive brand elements applied to the different products sold by the firm.

Which brand elements can be applied to which products and the nature of new and existing brand elements to be applied to new products

11.69

The role of Brand Architecture

Clarify: brand awareness

Improve consumer understanding and communicate similarity and differences between individual products
Maximize transfer of equity to/from the brand to individual products to improve trial and repeat purchase

Motivate: brand image

11.70

Brand-Product Matrix
1 A Brands B C

Products 2 3

Must define:

Brand-Product relationships (rows)

Line and category extensions Brand portfolio

11.71

Product-Brand relationships (columns)

Important Definitions

Product line

A group pf products within a product category that are closely related The set of all product lines and items that a particular seller makes available to buyers The set of all brand lines that a particular seller makes available to buyers
11.72

Product mix (product assortment)

Brand mix (brand assortment)

Breadth of a Branding Strategy

Breadth of product mix

Aggregate market factors Category factors Environmental factors

Depth of product mix

Examining the percentage of sales and profits contributed by each item in the product line Deciding to increase the length of the product line by adding new variants or items typically expands market coverage and therefore market share but also increases costs

11.73

Depth of a Branding Strategy

The number and nature of different brands marketed in the product class sold by a firm Referred to as brand portfolio The reason is to pursue different market segments, different channels of distribution, or different geographic boundaries Maximize market coverage and minimize brand overlap
11.74

Ford Brand Portfolio

11.75

Designing a Brand Portfolio

Basic principles:
Maximize market coverage so that no potential customers are being ignored Minimize brand overlap so that brands arent competing among themselves to gain the same customers approval

11.76

Brand Roles in the Portfolio

Flankers: Flanker or "fighter" brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning. Cash cows: Some brands may be kept around despite dwindling sales because they still manage to hold on to a sufficient number of customers and maintain their profitability with virtually no marketing support. These "cash cow" brands can be effectively "milked" by capitalizing on their reservoir of existing brand equity.

11.77

Brand Roles in the Portfolio

Low-end entry-level: The role of a relatively low-priced brand in the brand portfolio often may be to attract customers. Retailers like to feature these "traffic builders" because they are able to "trade up" customers to a higher-priced brand. For example, BMW introduced certain models into its 3-series automobiles in part as a means of bringing new customers into the brand franchise with the hope of later "moving them up" to higher-priced models when they later decided to trade in their cars.

11.78

Brand Roles in the Portfolio

High-end prestige brands: The role of a relatively high-priced brand in the brand family often is to add prestige and credibility to the entire portfolio. For example, one analyst argued that the real value of its Corvette high performance sports car to Chevrolet was in "its ability to lure curious customers into showrooms and at the same time help improve the image of other Chevrolet cars.
11.79

Brand Hierarchy

A means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firms products, revealing the explicit ordering of brand elements A useful means of graphically portraying a firms branding strategy

11.80

Brand Hierarchy Tree: Toyota

Toyota Corporation
Toyota (Trucks) Toyota (SUV/vans) Toyota (Cars) Toyota Financial Services Lexus

Corolla
CE S LE

Camry
SE LE XLE

Avalon
Platinum Edition XL XLS

Celica
SE SLE

ECHO

Matrix

MR2 Spyder

Prius

11.81

Brand Hierarchy Levels

Corporate Brand (General Motors)

Family Brand (Buick)

Individual Brand (Park Avenue)

Modifier: Item or Model (Ultra)

11.82

Corporate Brand Equity

Occurs when relevant constituents hold strong, favorable, and unique associations about the corporate brand in memory Encompasses a much wider range of associations than a product brand

11.83

Family Brands

Brands applied across a range of product categories An efficient means to link common associations to multiple but distinct products

11.84

Individual Brands

Restricted to essentially one product category There may be multiple product types offered on the basis of different models, package sizes, flavors, etc.

11.85

Modifiers

Signals refinements or differences in the brand related to factors such as quality levels, attributes, functions, etc. Plays an important organizing role in communicating how different products within a category that share the same brand name are

11.86

Corporate Image Dimensions

Corporate product attributes, benefits or attitudes

Quality Innovativeness Customer orientation

People and relationships

Values and programs

Concern with the environment Social responsibility

Expertise Trustworthiness Likability
11.87

Corporate credibility

Brand Hierarchy Decisions

The number of levels of the hierarchy to use in general How brand elements from different levels of the hierarchy are combined, if at all, for any one particular product How any one brand element is linked, if at all, to multiple products Desired brand awareness and image at each level
11.88

Number of Hierarchy Levels

Principle of simplicity

Employ as few levels as possible Logic and relationship of all brand elements employed must be obvious and transparent

Principle of clarity

11.89

Levels of Awareness and Associations

Principle of relevance

Create global associations that are relevant across as many individual items as possible Differentiate individual items and brands

Principle of differentiation

11.90

Linking Brands at Different Levels

Principle of prominence

The relative prominence of brand elements affects perceptions of product distance and the type of image created for new products

11.91

Linking Brands Across Products

Principle of commonality

The more common elements shared by products, the stronger the linkages

11.92

Brand Architecture Guidelines

Adopt a strong customer focus Avoid over-branding Establish rules and conventions and be disciplined Create broad, robust brand platforms Selectively employ sub-brands as means of complementing and strengthening brands Selectively extend brands to establish new brand equity and enhance existing brand equity
11.93

Corporate Brand Campaign

Different objectives are possible:

Build awareness of the company and the nature of its business Create favorable attitudes and perceptions of company credibility Link beliefs that can be leveraged by product-specific marketing Make a favorable impression on the financial community Motivate present employees and attract better recruits Influence public opinion on issues
11.94

Using Cause Marketing to Build Brand Equity

The process of formulating and implementing marketing activities that are characterized by an offer from the firm to contribute a specified amount to a designated cause when customers engage in revenue-providing exchanges that satisfy organizational and individual objectives

11.95

Advantages of Cause Marketing

Building brand awareness Enhancing brand image Establishing brand credibility Evoking brand feelings Creating a sense of brand community Eliciting brand engagement

11.96

Green Marketing

A special case of cause marketing that is particularly concerned with the environment Explosion of environmentally friendly products and marketing programs

11.97

Crisis Marketing Guidelines

The two keys to effectively managing a crisis are that the firms response should be swift and that it should be sincere.

11.98