How is brand equity built, measured and managed
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Transcript of How is brand equity built, measured and managed
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-Building-Measurement-Management
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Building Brand Equity
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But how to build Brand Equity?
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-By creating right brand knowledge structure
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What are brand elements ?
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How to choose Brand Element ?
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6 basic criteria
1. Memorable
2. Meaningful
3. Linkable
5. Transferable4. Adaptable
6. Protectable
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-how easily consumers can recall the product
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-Is brand element creditable ?
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-how aesthetically appealing is brand element ?
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-can the brand element introduce new products in same or different categories.
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-how adaptable or updatable is brand element?
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-how legally protected is the brand element?
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Measuring brand equity
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-Assess potential sources of brand equity
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-Assess the actual impact of brand knowledge
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Managing Brand Equity
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1 . Major enduring asset.
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2. By continuously conveying brand’s meaning
-What does product represent , how is it superior
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Recap
Now we know-Building Brand Equity -What is a brand element-Choosing brand brand element-Developing brand element-Measuring Brand Equity-Managing brand equity
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These slides were created by Yovan Sethi,
IIIT Allahabad, during a Marketing internship
by Prof. Sameer Mathur,
IIM Lucknow (See www.IIMInternship.com)
Disclaimer