BUILDING, MEASURING AND MANAGEMENT OF BRAND EQUITY

BUILDING BRAND EQUITY

From a marketing management perspective, there are three main sets of brand equity drivers: 1.Choosing brand elements 2.Designing holistic marketing activities 3.Leveraging secondary associations

CHOOSING BRAND ELEMENTS

Brand elements are devices, which can be trademarked, that identify and differentiate the brand 1.Brand element choice criteria 2.Developing brand elements

The rupee symbol has been added to the Unicode Standard and is being included in computer and laptop keyboards to facilitate easier typing and printing .

Designing Holistic Marketing Activities

These activities include: Brand contact - Any information-bearing experience, a customer or prospect has with the brand

Integrated marketing – Mixing and matching marketing activities to maximize individual and collective effects

Johnson & Johnson has become one of the most popular brands in Indian and South Asian markets because of its well integrated marketing program

Leveraging Secondary Associations

Brand equity is achieved by linking the brand to other information in memory that conveys meaning to consumers. It includes: 1.Internal Branding 2.Brand Communities

MEASURING BRAND EQUITY

BRAND VALUE CHAIN

Managing Brand Equity

As a company’s major enduring asset, a brand needs to be carefully managed so its value does not depreciate. It includes: 1. Brand Reinforcement 2. Brand Revitalization

1 Three main sets of brand equity drivers 2 Measuring brand equity 3 Brand reinforcement and revitalization for managing brand equity

RECAP

Created by Bhaskar Bora, NIT Silchar, during an internship by Prof. Sameer

Mathur, IIM Lucknow.www.IIMInternship.com

DISCLAIMER