Branding Strategy

Branding Strategy - Brand Equity Brand Strategic Brand...

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Brand Equity Brand Equity Strategic Brand Management Design and implementation of marketing activities to build, measure, and mange brands to maximize their value Identify current brand position Plan/implement brand marketing Measure/interpret brand performance Grow/sustain brand value
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Brand Equity Brand Equity Brand Definition Name, term, sign, symbol, design intended to identify products/services of one seller and differentiate them from those of other sellers Brands… Identify seller Allow customers to ascertain producer Provide identification/learning value for customers Help firms organize inventory and maintain records Signal quality
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Brand Equity Brand Equity Brand Equity – added value assigned to products/services, reflected in how customers thing, feel, and act with respect to the brand Improved perceptions of product performance Greater loyalty Less vulnerability to competitive actions Less vulnerability to crises Larger margins More inelastic response to price increases More elastic response to price decreases Greater trade cooperation/support Increased marketing communications effectiveness Possible licensing opportunities Brand extension opportunities
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Brand Equity Measurement Brand Equity Measurement Brand Audit – assess the health of a brand, uncover sources of brand equity, suggest ways to leverage that equity What products/services are offered? How are they marketed/branded? Meaning of brand to the customer
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Brand Equity Measurement Brand Equity Measurement Brand Reinforcement – consistently convey the meaning of the brand to customers What the brand represents How brand enhances product/service superiority Requires new product introduction Requires consistency of marketing support
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Brand Equity Measurement Brand Equity Measurement Brand Revitalization – due to changing tastes, preferences, wants, needs, environmental situation Return to “roots” Establish new brand position
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This note was uploaded on 12/21/2010 for the course BUSA 5336 taught by Professor Jeff during the Summer '09 term at UT Arlington.

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Branding Strategy - Brand Equity Brand Strategic Brand...

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