Post on 21-Jul-2016
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Lecture 1
Brand Equity and Brand Elements
Dr. Lucy TingLucy.Ting@manchester.ac.uk
Agenda• Week Overview
– Monday + Tuesday: Branding– Wednesday + Thursday : Marketing Communication – Coursework
• What is a Brand?– Brand Concept– Brand Elements
• What is a strong Brand?– Brand Equity– Sources of Brand Equity
Week Overview
Week OverviewMon
10th MayTue
11th MayWed
12th MayThur
13th May8:30-9:159:25-10:10 Introduction
of BrandingBrand Extensions
Integrated Marketing Communication
Personal Selling and PR
10:30-11:1511:25-12:10
Brand Positioning
Global BrandDiscussion1
MarCom Psychology
Ethics and Marketing
14:00-14:4514:55-15:40
Brand Strategy
E-MarComAdvertising
Other Tools andDiscussion2
Discussion 1
• Choose two of your favourite fashion brands in China: one locally from China and one from abroad.
– Who are their target markets?– What are their products?– What are their main points of parity and points
of difference?– Do you agree with their positioning strategy?– How might the strategies be improved in your
opinion?
Discussion 2• Choose two of your favourite fashion
brands in China: one locally from China and one from abroad.
– What media do they choose to communicate with their target markets?
– How do they use Internet as a tool? – What are the messages they intend to deliver? – Does the messages correspond to the brand
images?– How might the strategies be improved in your
opinion?
What is a Brand?
A brand is a “name, term, sign, symbol, name, term, sign, symbol, or design, or a combinationor 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 Associations (1992)
www.marketingpower.com
Brand Elements
• Basic elements include…
– Brand Name – Logos and Symbols
Keller (2008) Chapter 4
Brand Elements
• Basic elements include…
– Web address
– Characters
www.wellbeing.comwww.diy.com
Keller (2008) Chapter 4
Brand Elements
• Basic elements include…
– Packaging
– Music
– Slogans
Keller (2008) Chapter 4
www.thedieline.com
Putting it all together…
• Brand Identity
The common element sending a single message amid the wide variety of its products, actions and communications
Kapferer (2007)
6 Facets of Brand Identity
Personality
Culture
Self-ImageReflection
Relationship
Physique
Kapferer (2007)
Inte
rnal
isat
ion
Ext
erna
lisat
ion
Sender
Receiver
What is a strong Brand?
The result of a strong brand is that customers’ willingness to buy one brand is more than its competitors
Brand Equity
• Does a brand worth a penny?
– Brands have financial value because they have created assets in the minds and hearts of customer, distributors, prescribers and opinion leaders.
Kapferer (2007)
Brand Equity
• Customer-Based Brand Equity (CBBE)
– It is the differential effect that brand knowledge has on consumer response to the marketing of that brand
– A positive CBBE means customer might be more accepting to the marketing activities (ie. the marketing mix) for a brand
Keller (2008) & Keller (1993), “Conceptualizing, Measuring and Managing Customer-Based Brand Equity,” Journal of Marketing, 57(1), pp. 1-29
Sources of Brand Equity
CBBE
Brand Awareness Brand Association
Keller (2008) Chapter 2
Sources of Brand Equity
CBBE
Brand Awareness Brand Association
Brand Recall Brand Recognition
Keller (2008) Chapter 2
Sources of Brand Equity• Brand Recall
– Consumers’ ability to retrieve the brand from memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue
• Brand Recognition
– Consumers’ ability to confirm prior exposure to the brand when given the brand as a cue
Keller (2008) Chapter 2
Sources of Brand Equity
• How people process information?
– When decisions are made at the point of purchase, where brand name, logo, packaging, and so on will be physically present and visible, brand recognition would be important
– When decision are made in settings away from the point of purchase, brand recall would be more important
Sources of Brand Equity
• How to increase Brand Awareness?
– Repeated exposure to increase familiarity
– Strong association with appropriate product category or relevant purchase or consumption cue
Alba and Hutchinson, (1987), “Dimensions of Consumer Expertise,” Journal of Consumer Research, 13(4), pp. 411-453
Sources of Brand Equity
CBBE
Brand Awareness Brand Association
Strength Favourability Uniqueness
Keller (2008) Chapter 2
Sources of Brand Equity
• Strength
– Personal Relevance of the brand and the Consistency with which the brand is presented over time can strengthen the brand association.
Sources of Brand Equity
• Favourability
– Favourable association for a brand are those associations that are desirable to consumers, successfully delivered by the product, and conveyed by the supporting marketing program
Sources of Brand Equity
• Uniqueness
– The uniqueness of the brand gives consumers a compelling reason why they should prefer this brand than the others
Sources of Brand Equity
• How to create Brand Association ?
– Brand positioning strategy which give unique, meaningful points of differences to the brand to provide a competitive advantage and a reason why consumers should buy