Sources Of Brand Equity

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Information about Sources Of Brand Equity
Technology

Published on February 6, 2009

Author: wizkidrx

Source: slideshare.net

Measuring sources of brand equity: Capturing mindset

Techniques Quantitative Qualitative Free Association Projective Techniques Brand Personality and Values Experiential Methods

Quantitative

Qualitative

Free Association

Projective Techniques

Brand Personality and Values

Experiential Methods

Techniques Quantitative Qualitative Awareness Image Brand Responses Brand Relationships

Quantitative

Qualitative

Awareness

Image

Brand Responses

Brand Relationships

Qualitative Research Techniques Free Association Projective Techniques Brand Personality and Values Experiential Methods

Free Association

Projective Techniques

Brand Personality and Values

Experiential Methods

Free Association Identify the range of possible brand associations in consumers’ minds in terms of - Relative strength Favorability Uniqueness of brand associations

Identify the range of possible brand associations in consumers’ minds in terms of -

Relative strength

Favorability

Uniqueness of brand associations

Projective Techniques Diagnostic tools to uncover true opinions & feelings of consumers when they are unwilling/ unable to express themselves Completion and Interpretation Tasks: “ Fill in the Bubble” approach for analysis. Comparison Tasks: Consumers convey their impressions by comparing brands to people, countries,animals, activities etc.

Diagnostic tools to uncover true opinions & feelings of consumers when they are unwilling/ unable to express themselves

Completion and Interpretation Tasks:

“ Fill in the Bubble” approach for analysis.

Comparison Tasks: Consumers convey their impressions by comparing brands to people, countries,animals, activities etc.

Brand Personality and Values Solicit open-ended responses to questions linking the brand to persons, animals & objects. A research project conducted in the U.S. reflected the following “Big 5” factors of brand personality Sincerity Excitement Competence Sophistication Ruggedness

Solicit open-ended responses to questions linking the brand to persons, animals & objects.

A research project conducted in the U.S. reflected the following “Big 5” factors of brand personality

Sincerity

Excitement

Competence

Sophistication

Ruggedness

Quantitative Research Techniques Awareness Image Brand Responses Brand Relationships

Awareness

Image

Brand Responses

Brand Relationships

Awareness Strength of the brand in memory & consumers’ ability to identify various brand elements. Recognition: consumers’ ability to identify the brand under different circumstances Recall ‘ Unaided recall’ -identification with minimal cues. ‘ Aided recall’ uses various cues to assist recall.

Strength of the brand in memory & consumers’ ability to identify various brand elements.

Recognition: consumers’ ability to identify the brand under different circumstances

Recall

‘ Unaided recall’ -identification with minimal cues.

‘ Aided recall’ uses various cues to assist recall.

Image Lower Level Consumer perceptions of specific performance and imagery attributes. Scaling Considerations Absolute or comparative Spatial or numerical More complex methods Multidimensional scaling (MDS) Conjoint Analysis Perceptual Mapping

Lower Level Consumer perceptions of specific performance and imagery attributes.

Scaling Considerations

Absolute or comparative

Spatial or numerical

More complex methods

Multidimensional scaling (MDS)

Conjoint Analysis

Perceptual Mapping

Brand Responses Higher level considerations -judgments and feelings & combination with lower-level considerations Purchase Intentions: Action - Buying for own use or as gift Target - Specific product or brand Context - Type of store based on prices Time - Within week/month/year

Higher level considerations -judgments and feelings & combination with lower-level considerations

Purchase Intentions:

Action - Buying for own use or as gift

Target - Specific product or brand

Context - Type of store based on prices

Time - Within week/month/year

Brand Relationships Behavioral Loyalty Brand Substitutability: Higher the repeat purchases, greater the brand equity, and lesser the level of brand substitutability.

Behavioral Loyalty

Brand Substitutability: Higher the repeat purchases, greater the brand equity, and lesser the level of brand substitutability.

Brand Extensions Develop a new brand, individually chosen for the new product Use a combination of a new brand with an existing brand.

Develop a new brand, individually chosen for the new product

Use a combination of a new brand with an existing brand.

Brand extension When a firm uses an established brand name to introduce a new product. 1. Line Extension : The parent brand is used to brand a new product that targets a new market segment within a product category currently served by the parent brand. 2. Category Extension : The parent brand is used to enter a different product category from that currently served by the parent brand.

When a firm uses an established brand name to introduce a new product.

1. Line Extension : The parent brand is used to brand a new product that targets a new market segment within a product category currently served by the parent brand.

2. Category Extension : The parent brand is used to enter a different product category from that currently served by the parent brand.

Advantages of Extensions Facilitate new product acceptance Provide feedback benefits to the parent brand and company.

Facilitate new product acceptance

Provide feedback benefits to the parent brand and company.

Advantages Facilitate New product acceptance Improve brand Image Reduce perceived risk of customers Improved distribution and trial Increase efficiency of promotional expenditures Reduce costs of introductory and follow-up marketing programs Avoid cost of developing a new brand Allow for packaging and labeling efficiencies Permit consumer variety-seeking

Facilitate New product acceptance

Improve brand Image

Reduce perceived risk of customers

Improved distribution and trial

Increase efficiency of promotional expenditures

Reduce costs of introductory and follow-up marketing programs

Avoid cost of developing a new brand

Allow for packaging and labeling efficiencies

Permit consumer variety-seeking

Advantages Provide Feedback benefits to the Parent Brand and Company Clarify brand meaning Enhance parent brand image Increase market coverage Revitalize the brand Permit subsequent extensions

Provide Feedback benefits to the Parent Brand and Company

Clarify brand meaning

Enhance parent brand image

Increase market coverage

Revitalize the brand

Permit subsequent extensions

Disadvantage s Confuse or frustrate consumers Encounter retailer resistance Hurt parent brand image in case of failure Cannibalize sales of parent brand Dilute brand meaning

Confuse or frustrate consumers

Encounter retailer resistance

Hurt parent brand image in case of failure

Cannibalize sales of parent brand

Dilute brand meaning

Brand Extension - Conclusions Parent brand has favorable associations Perception fit between the parent brand and the extension product. High-quality brands stretch farther than average-quality brands Brand that is seen as prototypical of a product category can be difficult to extend outside the category Emphasizes information about the extension, rather than reminders about the parent brand.

Parent brand has favorable associations

Perception fit between the parent brand and the extension product.

High-quality brands stretch farther than average-quality brands

Brand that is seen as prototypical of a product category can be difficult to extend outside the category

Emphasizes information about the extension, rather than reminders about the parent brand.

Managing brands over time Long term effects of marketing actions on Brand Equity Consumer response to PAST marketing activity Brand Awareness & Brand Image Consumer response to CURRENT marketing activity CHANGED Brand Awareness & Brand Image Consumer response to FUTURE marketing activity

Managing brands over time Reinforcing brands Maintaining Brand Consistency Market Leaders and Failures Consistency and Change Protecting Sources of Brand Equity Fortifying versus Leveraging Fine-tuning Supporting Marketing Program Product-Related Performance Associations Non Product-Related Imagery Associations

Reinforcing brands

Maintaining Brand Consistency

Market Leaders and Failures

Consistency and Change

Protecting Sources of Brand Equity

Fortifying versus Leveraging

Fine-tuning Supporting Marketing Program

Product-Related Performance Associations

Non Product-Related Imagery Associations

Managing brands over time Revitalizing brands Expanding Brand Awareness Identifying Additional or New Usage Opportunities Identifying New and Completely Different Ways to Use the Brand Improving Brand Image Repositioning the Brand Changing Brand Elements Entering New Markets

Revitalizing brands

Expanding Brand Awareness

Identifying Additional or New Usage Opportunities

Identifying New and Completely Different Ways to Use the Brand

Improving Brand Image

Repositioning the Brand

Changing Brand Elements

Entering New Markets

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