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Raj Mohan and Ranjith

A brand is a “name, term, sign, symbol, or design, or a


combination of them intended to identify the goods and
services of one seller or group of sellers and to
differentiate them from those of competition.”
:-American Marketing Association

Brand Equity/Raj Mohan And Ranjith


A product is something that is made in a factory; a brand
is something that is bought by a customer. A product can
be copied by a competitor, a brand is unique. A product
can be quickly outdated; a successful brand is timeless.
A brand is something that resides in the minds of
consumer.

Brand Equity/Raj Mohan And


Ranjith
A Brand Is……….

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bo
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Identifies
product/service
Name of seller and Design
differentiates from
competitors

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Brand Equity/Raj Mohan And


Ranjith
The Role Of Brand
Consumers
Identification of the source of product
Assignment of responsibility to product maker
Risk reducer
Search cost reducer
Promise, bond, or pact with maker of product
Symbolic device
Signal of quality

Brand Equity/Raj Mohan And


Ranjith
Manufacturers
Means of identification to simplify handling or
tracing
Means of legally protecting unique features
Signal of quality level to satisfied customers
Means of endowing products with unique
associations
Source of competitive advantage
Source of financial returns

Brand Equity/Raj Mohan And


Ranjith
Brand equity is the added value that endowed to products
and services. This value may be 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. Brand equity is an
important intangible asset that has psychological and
financial value to the firm.

Brand Equity/Raj Mohan And


Ranjith
Brand equity

Brand Equity/Raj Mohan And


Ranjith
Brand Equity/Raj Mohan And
Ranjith
Brand Equity/Raj Mohan And
Ranjith
The brand is viewed from the perspective of the
customer, an individual or an organization.
The power of the brand lies in what customers have
seen, read, heard, learned, thought and thought about
the product over time.
A brand is said to have positive customer brand equity
when consumers react favorably to a product.
A brand is said to have negative brand equity if
consumers react less favorably to the product.

Brand Equity/Raj Mohan And


Ranjith
Brand equity models
Brand Asset Valuator:
Developed by Advertising agency Young and Rubicam(Y&R).
According to BAV there are four pillars of brand equity:-

Differentiation
Relevance
Esteem
Knowledge
Differentiation and relevance point to the brands future value and
Esteem and acknowledge reflects the past performance of the firms.

Brand Equity/Raj Mohan And


Ranjith
Aaker Model:
Viewed by UC-Berkeley professor David Aaker.
There are a set of five categories of brand assets and
liabilities which add value to the product.
They are:

Brand loyalty
Brand awareness
Perceived quality
Brand associations
Other proprietary assets

Brand Equity/Raj Mohan And


Ranjith
Brandz:
Developed by marketing research consultants Millward
and WPP.
As per this model brand building involves series of steps:
The objectives of each steps are the following:

Presence
Relevance
Performance
Advantage
Bonding

Brand Equity/Raj Mohan And


Ranjith
Brand resonance:
It also views brand building as an ascending, sequential
series of steps
Ensuring identification of the brand with customers’
minds with a specific product class or customer need.
Firmly establishing the brand into the mind of the
consumer.
Eliciting proper customer response to in terms of
brand related judgment and feelings.
Converting brand response to create to create an intense,
active loyalty relationship between customers and the
brand.

Brand Equity/Raj Mohan And


Ranjith
Measuring Brand Equity:
There are two approaches for measuring brand equity.
Indirect approach and direct approach.

Brand Audit:
- is a consumer-focused exercise that involves a series
of procedures to access the heath of the brand, uncover
its sources of equity and suggest ways to improve and
leverage its equity.

Brand Equity/Raj Mohan And


Ranjith
Brand Audits consist of two steps:
Brand inventory and brand explanatory
The purpose of brand inventory is to provide a current,
comprehensive profile of how all the products and
services sold by a company are marketed and branded.

The brand explanatory is research activity conducted to


understand what consumers think and its corresponding
product category to identify sources of brand equity.

Brand Equity/Raj Mohan And


Ranjith
Brand tracking:
Tracking studies collect information from the
consumers on a routine basis over time. Tracking
studies employ quantitative study methods.
It provides a basis for decision making
It provides insights to marketing activities

Brand Equity/Raj Mohan And


Ranjith
Brand Valuation
It is concerned of estimating the total
financial value of the brand.

Brand Equity/Raj Mohan And


Ranjith
Brand Management needs a long term view of
marketing decisions. Consumer responses to marketing
activity depend on what they know and remember
about a brand.
Brand reinforcement:
Brand equity is reinforced by marketing actions that
consistently convey the meaning of the brands to
consumers in terms of:
The product and
Superiority
Brand Equity/Raj Mohan And
Ranjith
Reinforcing brand equity needs innovation and
relevance through out the marketing program.
Marketers must introduce new products to
satisfy the target consumers

Brand Revitalization
A strategy to recapture lost sources of brand
equity and identify and establish new sources of
brand equity. This may include product
modification or brand repositioning.
Brand Equity/Raj Mohan And
Ranjith
Doubts and Clarifications

Brand Equity/Raj Mohan And


Ranjith
Brand Equity/Raj Mohan And
Ranjith