Chapter 9 Creating Brand Equity
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Transcript of Chapter 9 Creating Brand Equity
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Chapter 9Creating Brand Equity
Philip KotlerKevin Lane Keller
Donna Sia, Shelle Caiga, Rhea JardinMay 4, 2012
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1. What is brand and how does branding work?
2. What is brand equity?3. How is brand equity built, measured and
managed?4. What are the important decisions in
developing a branding strategy?
Outline:
What do we have to know?
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Brand is a “name, term, sign, symbol, or design or combination of then, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”
What is brand?
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Branding is endowing products and services with the power of a brand.
It creates mental structures that help consumers organize their knowledge about products and services in a way
that clarifies their decision making and, in the process, provides value to the
chain.
How does branding work?
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Brand equity is the added value endowed on products and services.
It may be reflected in the way consumers think, feel and act with respect to the
brand, as well as in the prices, market share and profitability the brand commands for
the firm.
What is Brand Equity?
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Outline:
Like playing basketball, managing a brand involves strategies…
Brand Positioning
Brand Marketing
Brand Performance
Brand Value
Step 1. Identify and establish
Step 2. Plan and implement
Step 3. Measure and interpret
Step 4. Grow and sustain
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What can branding do to your business?
Identifies the maker & signifies quality
Offers legal protectionServes as competitive advantage
Creates barriers to entry
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Organizes accounting and simplifies product handling
Secures price premium
Loyola SchoolsAGSBSchool of LawSchool of Medicine
What can branding do to your business?
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Provide customers the right type of experience to create desired brand knowledge.
Hi, I’m Jersey 17, I am passionate and I try to be the best at what I do especially
basketball.
Jersey 17’s Brand Print
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What is important to me is to give my
fans a good game and give my best for
the team.
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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Even though I am busy with my career, I was still
able to finish my education & start my own
business
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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I hope I inspire young athletes to
pursue their dreams, whatever sport they
are into.
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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Images
Feelings
Thoughts & Beliefs
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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What STRONG brands do…
Improved perceptions of product performance
Greater Loyalty
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What STRONG brands do…
Large Margins
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What STRONG brands do…
Less vulnerability to competitive marketing actionsMore inelastic consumer responseIncreased marketing communications effectiveness
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Brand Asset Evaluator (BAV) compares brand equity of thousands of brands across hundreds of categories and these are its four pillars (Derek)
One comparative measure of brand equity is the BAV
Diff
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Brand Equity
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Brand Essence
Core Identity
Develop your brand’s identity.
Aaker Model
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Brand Essence:Movement for self-esteem
Campaign for real beautyEmpowering
Women
Develop your brand’s identity by:
Aaker Model
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Brand Essence:
Movement for self-esteem
Campaign for real beauty
Develop your brand’s identity by:
Extended Identity:
Dove Men + Care
Aaker Model
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Brand Essence:
Movement for self-esteem
Campaign for real beauty
Develop your brand’s identity by:
Extended Identity:
Dove Men + CareCore
Identity:Beautiful
SkinAaker Model
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Bonding
Advantage
Performance
Relevance
Presence
Brand building follows a sequential series of steps:
Strong relationshipHigh share of category expenditure
Weak relationship/Low share of categoryexpenditure
Brand Dynamics Pyramid
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Building relationship with a brand…
Do I know about it?
Brand Dynamics Pyramid
PresencePresence
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Does it offer me something?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
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Can it deliver?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Does it offer something better than others?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Nothing else beats it!
Brand Dynamics Pyramid
I
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Building relationship with a brand…
Brand Resonance Pyramid
Presence
Performance & Imagery
Judgment & Feelings
Resonance
Brand Salience
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Brand Elements
What drives brand equity?
Men and Women for others…The Ateneo Way…
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Memorable
Like the person of your dreams, brand elements should be…
Meaningful
Likeable
Transferable?
Adaptable
Protectible
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Marketing Activities
What drives brand equity?
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Meaning Transference
What drives brand equity?
Mirrors your brand
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Designing Holistic Marketing Activities
Brands are not built by advertising alone.
Personalize Integrate Internalize
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Brand Audits
Measuring Brand Equity
Brand-Tracking
Brand Valuation
Health of brandSource of brand equityWays to improve equity
Where, how much & what ways brand value is being created?
Financial Value of the brand
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In summary:
Brand
Images
Feelings
Thoughts & Beliefs
RelationshipBrand Consumer
Brand Elements
Presence
Relevance
Performance
Advantage
Bonding
Presence
Marketing Activities and Meaning Transference
The company
Brand Valuation
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CREATING BRAND EQUITY
MARKMA
Rhea G. Jardin
May 4, 2012
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Chapter 9Creating Brand Equity
Philip KotlerKevin Lane Keller
Donna Sia, Shelle Caiga, Rhea JardinMay 4, 2012
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A product or service whose dimensions differentiate it in some way from other products or services designed to satisfy the same need
What is a Brand?
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Differences maybe related to:A. Product performance of the brand1. Functional - 2. Rational - 3. Tangible
B. What the brand represents4. Symbolic5. Emotional 6. Intangible
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1. Identify the source or maker of the product that satisfies the consumers’ needs
2. Simplifies product handling or tracing
3. Offers firm legal protection with intellectual property rights
4. Signals level of quality so that buyers can easily choose the product again
Role of Brands
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- Endowing products and services with the power of the brand by creating differences between products
- “who” the product is, what the product does and why consumers should care
What is Branding?
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- the added value on products and services
- reflected on how consumers think, feel and act on the brand
- reflected in the prices, market share and profitability for the firm
Brand Equity
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A. Positive – customers react more favorably to a product and the way it is marketed
B. Negative – customers react less favorably to marketing activity for the brand
Three (3) key ingredients:1. Consumer response2. Consumer’s knowledge about the brand3. Consumer’s perceptions, preferences and
behavior
Customer-based brand equity
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1. Quality is the critical factor not the quantity
2. Dictates future directions for the brand based on how consumers think and feel about the brand
Brand promise - the marketer’s vision of what the brand must be and do for consumers
Brand Knowledge
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1. Differentiation – measures the degree to which a brand is seen as different from others
2. Energy – measures the brand’s sense of momentum 3. Relevance – measures the breadth of a brand’s appeal
4. Esteem – measures how well the brand is regarded and respected5. Knowledge – measures how familiar and intimate consumers are with the brand
Five pillars of brand equity
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+ + = energized brand strength
- point to the brand’s future value + = brand stature
- “report card” of past performance
“Pillar’s pattern” reveal a brand’s current and future status
Five pillars of brand equity
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BrandDynamics Pyramid
-Developed by Millward Brown of BRANDZ Marketing as a model of brand strength
Nothing else beats it Does it offer something better than the others? Can it deliver?
Does it offer me something? Do I know about it?
Bonding
Advantage
Performance
Relevance
Presence
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BrandDynamics Pyramid
-Developed by Millward Brown of BRANDZ Marketing as a model of brand strength
Nothing else beats it Strong relationship / High
Does it offer something share of category expenditure
better than the others? Can it deliver?
Does it offer me something? Do I know Weak relationship /
about it? Low share of category expenditure
Bonding
Advantage
Performance
Relevance
Presence
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Brand Resonance ModelStages of Brand Brand Brand building Branding objective at Development blocks each stage
4. Relationships = what about you and me?
3. Response = what about you?
2. Meaning = what are you?
1. Identity = who are you?
Intense, active loyalty
Positive, accessible reactions
Points-of-parity & difference
Deep, broad brand
awareness
Resonance
Judgments
Feelings
Performance Imagery
Salience
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Brand salience – how often and how easily customers think of the brand under various purchase or consumption situations
Brand performance – how well the product or service meets customers’ functional needs
Brand imagery – the ways in which brand attempts to meet customers’ psychological or social needs
Brand judgments – focus on customers’ own personal opinions and evaluations
Brand feelings – customers’ emotional responses and reactions with respect to the brand
Brand resonance – nature of the relationship customers have with the brand (“in sync” with it)
Brand Resonance Model
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1. Initial choices for the brand elements or identities making up the brand
2. The way the brand is integrated into the supporting marketing program
3. The associations indirectly transferred to the brand by linking the brand to some other entity
Brand equity drivers
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1. Memorable – how easily the brand element is recalled and recognized (i.e. short names)
2. Meaningful – credibility of the brand, product ingredient or type of person who might use the brand
3. Likeable – how visually and verbally appealing is the brand element
4. Transferable – can the brand element be used to introduce new products in the same or different categories?
Brand element choice criteria
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5. Adaptable – how adaptable and updatable is the brand element
Betty Crocker in 1936 Betty Crocker in 1986
6. Protectible – brand names that become synonymous with product categories
Brand element choice criteria
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1. Brand audit - measures “where the brand has been”
2. Brand-tracking studies – measure “where the brand is now” and whether marketing programs are having the intended effects
Measuring brand equity
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Brand valuation – estimating the total financial value of the brand
Measuring brand equity
Rank Brand 2006 Brand Value (Billions)
1 Coca-cola $67.00
2 Microsoft $56.93
3 IBM $56.20
4 GE $48.91
5 Intel $38.32
6 Nokia $30.13
7 Toyota $27.94
8 Disney $27.85
9 McDonald’s $27.50
10 Mercedes-Benz $22.13
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1. Brand reinforcement - requires innovation and relevance throughout the marketing program
- brand must be moving forward in the right direction with new offerings and ways to market them
2. Brand revitalization - reinvention strategy
- renewal of commitment to quality
Managing brand equity
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reflected on where
customers price market share profitability quality is a factor over quantity
Pillars of brand equity:
differentiation energy relevance esteem knowledge
energized brand strength brand stature criteria for brand element:
memorable/short meaningful likeable transferrable
adaptable protectible
Brand Equity
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CREATING BRAND EQUITY
MARKMA
Rhea G. Jardin
May 4, 2012
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Chapter 9Creating Brand Equity
Philip KotlerKevin Lane Keller
Donna SiaMay 4, 2012
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1. What is brand and how does branding work?
2. What is brand equity?3. How is brand equity built, measured and
managed?4. What are the important decisions in
developing a branding strategy?
Outline:
What do we have to know?
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Brand is a “name, term, sign, symbol, or design or combination of then, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”
What is brand?
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Branding is endowing products and services with the power of a brand.
It creates mental structures that help consumers organize their knowledge about products and services in a way
that clarifies their decision making and, in the process, provides value to the
chain.
How does branding work?
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Brand equity is the added value endowed on products and services.
It may be reflected in the way consumers think, feel and act with respect to the
brand, as well as in the prices, market share and profitability the brand commands for
the firm.
What is Brand Equity?
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Outline:
Like playing basketball, managing a brand involves strategies…
Brand Positioning
Brand Marketing
Brand Performance
Brand Value
Step 1. Identify and establish
Step 2. Plan and implement
Step 3. Measure and interpret
Step 4. Grow and sustain
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What can branding do to your business?
Identifies the maker & signifies quality
Offers legal protectionServes as competitive advantage
Creates barriers to entry
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Organizes accounting and simplifies product handling
Secures price premium
Loyola SchoolsAGSBSchool of LawSchool of Medicine
What can branding do to your business?
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Provide customers the right type of experience to create desired brand knowledge.
Hi, I’m Jersey 17, I am passionate and I try to be the best at what I do especially
basketball.
Jersey 17’s Brand Print
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What is important to me is to give my
fans a good game and give my best for
the team.
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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Even though I am busy with my career, I was still
able to finish my education & start my own
business
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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I hope I inspire young athletes to
pursue their dreams, whatever sport they
are into.
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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Images
Feelings
Thoughts & Beliefs
Jersey 17’s Brand Print
Provide customers the right type of experience to create desired brand knowledge.
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What STRONG brands do…
Improved perceptions of product performance
Greater Loyalty
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What STRONG brands do…
Large Margins
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What STRONG brands do…
Less vulnerability to competitive marketing actionsMore inelastic consumer responseIncreased marketing communications effectiveness
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Brand Asset Evaluator (BAV) compares brand equity of thousands of brands across hundreds of categories and these are its four pillars (Derek)
One comparative measure of brand equity is the BAV
Diff
ere
nti
ati
on
En
erg
y
Este
em
Kn
ow
led
ge
Rele
van
ce
Brand Equity
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Brand Essence
Core Identity
Develop your brand’s identity.
Aaker Model
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Brand Essence:Movement for self-esteem
Campaign for real beautyEmpowering
Women
Develop your brand’s identity by:
Aaker Model
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Brand Essence:
Movement for self-esteem
Campaign for real beauty
Develop your brand’s identity by:
Extended Identity:
Dove Men + Care
Aaker Model
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Brand Essence:
Movement for self-esteem
Campaign for real beauty
Develop your brand’s identity by:
Extended Identity:
Dove Men + CareCore
Identity:Beautiful
SkinAaker Model
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Bonding
Advantage
Performance
Relevance
Presence
Brand building follows a sequential series of steps:
Strong relationshipHigh share of category expenditure
Weak relationship/Low share of categoryexpenditure
Brand Dynamics Pyramid
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Building relationship with a brand…
Do I know about it?
Brand Dynamics Pyramid
PresencePresence
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Does it offer me something?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
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Can it deliver?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Does it offer something better than others?
Brand Dynamics Pyramid
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Nothing else beats it!
Brand Dynamics Pyramid
I
Building relationship with a brand…
Presence
Relevance
Performance
Advantage
Bonding
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Building relationship with a brand…
Brand Resonance Pyramid
Presence
Performance & Imagery
Judgment & Feelings
Resonance
Brand Salience
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Brand Elements
What drives brand equity?
Men and Women for others…The Ateneo Way…
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Memorable
Like the person of your dreams, brand elements should be…
Meaningful
Likeable
Transferable?
Adaptable
Protectible
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Marketing Activities
What drives brand equity?
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Meaning Transference
What drives brand equity?
Mirrors your brand
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Designing Holistic Marketing Activities
Brands are not built by advertising alone.
Personalize Integrate Internalize
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Brand Audits
Measuring Brand Equity
Brand-Tracking
Brand Valuation
Health of brandSource of brand equityWays to improve equity
Where, how much & what ways brand value is being created?
Financial Value of the brand
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In summary:
Brand
Images
Feelings
Thoughts & Beliefs
RelationshipBrand Consumer
Brand Elements
Presence
Relevance
Performance
Advantage
Bonding
Presence
Marketing Activities and Meaning Transference
The company
Brand Valuation
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Chapter 9Creating Brand Equity
Philip KotlerKevin Lane Keller
Donna SiaMay 4, 2012