Course Hero Logo

3BAMM-1 GROUP1 (CHAPTER-2-ADVERTISING).docx - Laguna State...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 6 out of 16 pages.

Laguna State Polytechnic UniversitySan Pablo City CampusProvince of LagunaCollege of Business Management and AccountancyADVERTISING(MM 105)TOPIC:CHAPTER 2: Enhancing Brand Equity and AccountabilityREPORTERS:3BSBA MM1Gallardo, Kyla Marie B.Larona, Jamaica Erika G.Luzon, Renelyn D.INSTRUCTOR:Ms. Madelon Briz, MBA
Before we discussed the important concept of brand equity, let’s beclear first about the meaning of the BRAND…BRANDAccording to American Marketing Association brand is a“name, term,sign, symbol, design, or a combination of them intended to identify the goodsor services of one seller or group of sellers and to differentiate them fromthose of competition.”IMPORTANT ASPECTS OF BRAND:1.Identification2.DifferentiationTRADE DRESSIt refers to the appearance and image of the product, including itspackaging, labeling, shape, color, sounds, design, lettering, and style.EXAMPLES OF TRADE DRESS:MGMLion’s roarKodak’s gold colored film boxYouTubeCoca- Cola
TwitterWhat does your brand stand for?“fun”“safety”“Encapsulates hipness”High Quality and Dependability”“Eloquence”“Eloquence”“Master Craftsmanship andSophistication”
BRAND EQUITYIt is the goodwill (i.e., equity) that an established brand has built upover its existence.It considered the perspective of the organization owns the brands andthe vantage point of the customer.Firm- based perspective on Brand Equity…It focuses on outcomes extending from efforts to enhance a brand’svalue to its various stakeholders (e.g., final consumers, retailers, wholesalers,suppliers, and employees).Various Positive Result as the value or equity of brand increases1.Achieving a higher market share2.Increasing brand loyalty3.Being able to charge premium prices4.Earning a revenue premiumREVENUE PREMIUMIt defined as the revenue differential between a branded item and acorresponding private-labeled (store brand) item.TASTE- PREMIUM BRAND EQUITYUnique and another form of firm based equity wherein the notion ofrevenue premium just described.
BRAND EQUITY MODELS1.Brand Asset ValuatorIt is developed by a Chicago- based advertising agency, Young& Rubricam.It is based on the research with over 700,000 consumers in 50countries for over 45,000 brands and provides s a comparativemeasure of brand equity elements across many different categories.BAV FOUR KEY COMPONENTS OR PILLARS OF BRAND EQUITYa.Differentiation (energized differentiation)It is the degree to which the brand is seen as unique or differentfrom others.b.RelevanceIt isthe degree to which the consumer identifies with the brandor is involved in the brand in their everyday lives (e.g., “What’s in it forme?”).c.EsteemIt is thedegree to which the brand is held in high regard and wellrespected.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 16 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Summer
Professor
NoProfessor
Tags
Brand, Brand Concepts, Enhancing Brand Equity

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture