Marketing management topic 1 creating brand equity

MARKETING MANAGEMENTTopic 1 Creating Brand Equity... Chapter Questions  What is a brand and how does branding work?.  How is brand equity built, measured, and managed?.  Uses multiple

MARKETING MANAGEMENT

Topic 1 Creating Brand Equity

Chapter Questions

 What is a brand and how does branding

work?

 What is brand equity?

 How is brand equity built, measured, and managed?

 What are the important decisions in

developing a branding strategy?

A name, term, sign, symbol

or design, or a combination of them,

intended to identify the goods

or services of one seller or group

of sellers and to differentiatethem from those of competitors

 Uses multiple marketing activities

 Understands brand relationship

consumer- Supported by organization

 Monitors sources of brand equity

The Role of Brands

 Identify the maker

 Serve as a competitive advantage

 Secure price premium

Branding

Endowing products and services

with the power of a brand

Brand Equity

The differential effect that brandknowledge has on consumer

response to the marketing of that brand

Marketing Advantages of Strong Brands

 Greater trade cooperation

 Increase in effectiveness

of IMC

 Licensing opportunities

 Brand extension opportunities

Brand Equity Models

 Brand Asset Valuator

 Aaker Model

 Brand Resonance

State Farm is there

Interbrand’s Brand Equity

Devising a Branding Strategy

 Develop new brand elements

 Apply existing brand elements

 Use a combination of old and new

Brand Naming

 Individual names

 Blanket family names

 Separate family names

 Corporate name/individual name combo