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strategic brand mgt wk2b chp2 brand awareness image-2

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v 12/08/2000 v Strategic Brand Management Koert van Ittersum Georgia Tech, College of Management
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v 12/08/2000 Overview v Brand Equity v Customer-based Brand Equity v Making a Brand Strong: Brand Knowledge v Sources of Brand Equity v Building a Strong Brand: The Four Steps of Brand Building v Brand-Building Implications v Benefits from Brand Equity
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v 12/08/2000 Brand Equity v Brand equity has the potential to provide guidance to marketers to help them make good marketing strategies v Brand equity provides a common denominator for interpreting marketing strategies and assessing the value of a brand
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v 12/08/2000 Brand Equity v Brand equity is defined in terms of the marketing effects uniquely attributable to the brand v Brand equity relates to the fact that different outcomes result from the marketing of a product or service because of its brand name or some other brand element, as compared to outcomes if that same product or service did not have that brand identification v Brand equity represents the “added value” endowed to a product or service as a result of past investments in the marketing for that brand.
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v 12/08/2000 Brand Equity Brand equity is the added value endowed by the brand to the product (Farquar 1989)
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v 12/08/2000 Brand Equity Top Ten 1. Price premium 2. Satisfaction/Loyalty 3. Perceived quality 4. Leadership/popularity 5. Perceived value 6. Brand personality 7. Organizational associations 8. Brand awareness 9. Market share 10. Market price and distribution coverage
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v 12/08/2000 Customer-based Brand Equity v Customer-based brand equity is defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand v Brand equity ultimately depends on what resides in the minds of consumers (remember Coca-Cola) v Recall experiment!
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v 12/08/2000 Customer-based Brand Equity v Brand equity ultimately depends on what resides in the minds of consumers v Hence, brand equity is a reflection of the past v And, provides direction for the future
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v 12/08/2000 Making a Brand Strong: Brand Knowledge v Brand equity ultimately depends on what resides in the minds of consumers
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v 12/08/2000 Sources of Brand Equity Brand Knowledge Brand knowledge Brand awareness Brand recall Brand recognition Brand image Favorability of brand associations Strength of brand associations Uniqueness of brand associations Types of brand associations Benefits Attitudes Types of brand associations Product-related Functional Experiental Symbolic Non-product- related Brand personality Feelings and experiences User and usage imagery Price Attributes
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v 12/08/2000 Sources of Brand Equity Brand Knowledge v Brand knowledge is key to creating brand equity o Associative network memory model o Spreading activation
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v 12/08/2000 dri nk wat er thi rst y ju ic e red Atlanta Coca- Cola Pe psi 7- up Miln er Sam b e e r sprite col a Sources of Brand Equity: Brand Knowledge Associative network memory model + Spreading activation
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v 12/08/2000 Sources of Brand Equity Brand Knowledge v Brand awareness o Strength of the brand node or trace in memory as
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