Measuring sources of brand equity By Leroy J. Ebert

17
Leroy J. Ebert DipM MCIM, Chartered Marketer, MSLIM Manager Marketing and Business Development – Logiwiz Ltd. Presentation Developed as Course Material for the SLIM Diploma in Brand Management

description

Measuring Sources of Brand Equity Content Extracted from “Strategic Brand Management” 3rd Edition Authors: Kevin Lane Keller M.G. Parameswaran Issac Jacob Presentation developed from SLIM Diploma In Brand Management Students Presentation developed by Leroy J. Ebert (25th April 2014)

Transcript of Measuring sources of brand equity By Leroy J. Ebert

Page 1: Measuring sources of brand equity  By Leroy J. Ebert

Leroy J. Ebert DipM MCIM, Chartered Marketer, MSLIM

Manager Marketing and Business Development – Logiwiz Ltd.

Presentation Developed as Course Material for the SLIM Diploma in Brand Management

Page 2: Measuring sources of brand equity  By Leroy J. Ebert

• This is the most simplest and often the most powerful way to

profile brand associations

• What comes to mind when they think of a brand?

• Can identify the range of possible brand associations

• Can provide some rough indication of the relative strength,

favourability and uniqueness of brand associations

Page 3: Measuring sources of brand equity  By Leroy J. Ebert

• What do you like best about the brand? What are its positive

aspects?

• What do you dislike? What are its disadvantages

• What do you find unique about the brand? How different from

other brands? In what ways is it the same?

Page 4: Measuring sources of brand equity  By Leroy J. Ebert

• Consumers do not open up to interviews and in focused groups

• They may not want be willing or unable to reveal their true

feelings

• Tapping into consumers: free association and Projective

Techniques Page 363 Figure 9-3

• Rorschach test

Page 5: Measuring sources of brand equity  By Leroy J. Ebert

• The bubble test

Page 6: Measuring sources of brand equity  By Leroy J. Ebert

• Compare a brand to people, country, animal, activities, fabric,

occupation, car, magazines, vegetables, nationalities or even

other brands

• Remember to ask follow up questions to understand why they

associated the brand to their selection

• Helps with identifying the brand imagery

Page 7: Measuring sources of brand equity  By Leroy J. Ebert

Association MR RW

Car

Country

Brand

Animal

Vegetable

Page 9: Measuring sources of brand equity  By Leroy J. Ebert

• Brand personality is the human characteristics or traits that

consumers can attribute to a brand.

• The simplest way to measure it is to solicit open ended

responses to probe

• If the brand were to come alive as a person, what would it be like?

• What would it do?

• Where would it live?

• What would it wear?

Page 10: Measuring sources of brand equity  By Leroy J. Ebert
Page 11: Measuring sources of brand equity  By Leroy J. Ebert

• The need to improve research out come has driven researchers

into more experiential

• Customers do not open up in a formal setup

• Agencies and brand owners are increasingly studying consumers

at home, in office, how they communicate between each other,

consume the product

• As differential advantages are been challenged brands need

to find emotional links that can build strong associations with the

customers

Page 12: Measuring sources of brand equity  By Leroy J. Ebert

• Leverage the visits you already make by coordinating them via

perennial questions and logging and reviewing customer

profiles

• Take every opportunity to ask questions (for instance, formally

set aside an hour to solicit feedback

• Get engineers in front of customers, not just marketers

• Conduct programmatic visits

• Visit different kind of customers

• Get out of the conference room

Page 13: Measuring sources of brand equity  By Leroy J. Ebert

• Helps researchers draw numerical representations and

summaries

• For example quantitative measures of brand knowledge can

help to better assess the depth and breath of brand awareness,

the strength, favourability, uniqueness of the brand associations

Page 14: Measuring sources of brand equity  By Leroy J. Ebert

• Ability to identify various brand elements like the brand name,

logo, symbol, character etc.

• Recognition – packaging, brand elements, partial lettering

• Recall – aided, unaided

• Correction for Guessing

• Strategic Implications

Page 17: Measuring sources of brand equity  By Leroy J. Ebert

Content Extracted from “Strategic Brand Management” 3rd Edition

Authors: Kevin Lane Keller

M.G. Parameswaran

Issac Jacob

Presentation developed from SLIM Diploma In Brand Management

Students

Presentation developed by Leroy J. Ebert (25th April 2014)