10-1 MARKETING MANAGEMENT Brand Equity. Chapter Questions What is a brand, and how does branding...
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Transcript of 10-1 MARKETING MANAGEMENT Brand Equity. Chapter Questions What is a brand, and how does branding...
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10-1
MARKETING MANAGEMENT
Brand Equity
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Chapter Questions
• What is a brand, and how does branding work?
• What is brand equity, and how is it built, measured, and managed?
• What are the important decisions in developing a branding strategy?
•© Copyright 2008 Pearson Education Canada8-2
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Brand
A name, term, sign, symbol,
intended to identify the goods
or services of one seller
and to differentiate
them from those of competitors
•© Copyright 2008 Pearson Education Canada8-3
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The Role of Brands
Signify qualitySignify quality
Create barriers to entryCreate barriers to entry
Competitive advantageCompetitive advantage
Secure price premiumSecure price premium
•© Copyright 2008 Pearson Education Canada8-4
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Branding
Endowing products and services
with the power of a brand
•© Copyright 2008 Pearson Education Canada8-5
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Anything Can Be Branded
•a physical good
•a service
•a store
•a person
•a place
•an organization
•or even an idea
8-6
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Brand Equity
1. Estimate of the added value
endowed to products.
2. This is reflected in how consumers
think, feel, and act
with respect to the brand,
as well as the prices, market share,
and profitability that the brand
commands for the firm
•© Copyright 2008 Pearson Education Canada8-7
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Brand Elements
ElementsSlogans
Brand
names
URLs
Logos
Symbols
Characters
•© Copyright 2008 Pearson Education Canada8-8
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Brand Elements
•© Copyright 2008 Pearson Education Canada8-9
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Slogans
• Like a good neighbour, State Farm is there• Just do it• Nothing runs like a Deere• Help is close to home• We try harder• We’ll pick you up• Zoom Zoom• I’m lovin’ it• This Bud’s for you• Always low prices
8-10
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Measuring Brand Equity
•Brand audits•Brand audits
•Brand tracking•Brand tracking
•Brand valuation•Brand valuation
•© Copyright 2008 Pearson Education Canada8-11
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Brand Roles in a Brand Portfolio
• Flankers
• Low-end
• Entry-level
• High-end
• prestige
• Cash cows
•© Copyright 2008 Pearson Education Canada8-12
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Reasons for Multiple Brands in Portfolio
• To increase shelf presence
• To attract consumers seeking variety
• To increase internal competition
• To yield economies of scale
•© Copyright 2008 Pearson Education Canada8-13