Brand Equity

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Managing Managing Brand EquityBrand Equity

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Brand equity is

a set of brand assets and liabilities linked to a brand

Elements of Brand Equity:Elements of Brand Equity:

Brand Loyalty

Brand Awareness

Perceived Quality

Brand Associations

Brand LoyaltyBrand Loyalty

Brand loyalty is a measure of the

attachment that a customer has to a

brand.

It reflects how likely a customer will be to

switch to another brand, especially when that

brand makes a change, either in price or in

product features.

Brand Loyalty PyramidBrand Loyalty PyramidCommitted Buyer

Likes the Brand - Considers it a Friend

Satisfied Buyer With Switching Costs

Habitual Buyer - No Reason to Change

Indifferent – No Brand Loyalty

Switchers / Price Sensitive

Measuring Brand Loyalty

• Purchase Behavior Patterns

• Switching Cost Analysis

• Satisfaction Measurement

Strategic Value of Brand Loyalty

• Reduce marketing cost• Trade (channel distribution) leverage• Attracting new customers

Enhancing Brand Loyalty

• Treat the customer right• Stay close to the customer• Measure/manage customer

satisfaction• Create switching cost• Provide extras

Brand Awareness isBrand Awareness is the ability of a potential

buyer to recognize or recall

that a brand is a member of

a certain product category

Brand Awareness Hierarchy

Top of Mind

Brand Recall

Brand Recognition

Unaware of Brand

Value of Brand Awareness

• Anchor to which other associations can be

attached• Familiarity and liking• Signal of substance/commitment• Brand to be considered

How to Achieve Brand Awareness

Be different, memorable

Involve a slogan or jingle

Symbol exposure

Publicity

Event sponsorship

The customer's perception of the overall

quality or superiority of a product or service

with respect to its intended purpose, relative to

alternatives. Perceived quality is a perception

by customers.

Perceived Quality

Influences

Perceived

Quality of

ProductProduct?

• Performance

• Features

• Conformance with

specifications

• Reliability

• Durability

• Serviceability

• Fit and finish

Influences

Perceived

Quality of

ServiceService?

Appearance

Reliability

Competence

Responsiveness

Empathy

The Value of Perceived Quality

• Reason-to-Buy

• Differentiate/Position

• A Price Premium

• Channel Member Interest

• Brand Extensions

Brand AssociationBrand Association

A brand association is anything

"linked" in memory to a brand.

Thus, McDonald's could be linked to a

character such as Ronald McDonald, a

consumer segment such as kids, a feeling

such as having fun, a product characteristic

such as service, or a symbol such as the

Golden Arches.

Some Types of Associations

• Product Attributes• Customer Benefits• Relative Price• Lifestyle/Personality• Celebrity/Person• Use/Application

The Value of Brand Associations

• Help Process/Retrieve

Information• Differentiate/Position• Reason-to-Buy• Create Positive

Attitudes/Feelings • Basis for Extensions

Maintaining

Associations

• Be consistent over time

• Be consistent over

elements of the marketing

program

• Manage disasters in order

to minimize their damage

Criteria for Criteria for

Brand Name SelectionBrand Name Selection

• Be easy to learn and remember

• Suggest the product class

• Support a symbol or slogan

• Suggest desired association without

being boring or trivial

• Not suggest undesired associations

• Be distinctive

• Be available and protectable legally

Source of Reference:

David Aaker, Managing Brand Equity : Capitalizing on

the Value of A Brand Name, Free Press

Brand Equity

Economy & Finance

Transcript of Brand Equity

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