The base layer of the pyramid comprises the brand themes. These themes indicate how the brand currently communicates e.g., through its advertising, press releases, and packaging. Brand themes include the physique of the brand (e.g., color, logo, packaging), its reflection (e.g., type of spokesperson used to advertise the brand) and the relationship expressed (e.g., glamour, prestige). Brand themes are more flexible than the brand style and brand core, and will change easier with fashion, style or technology. The set of brand style and themes can be described as a six-sided identity prism. The identity prism emphasizes the brand’s identity as a structured whole of six integrated facets of culture, personality, self-image, physique, reflection, and relationship. The first three facets of culture, personality and self-image are incorporated within the brand itselfand the last three facets of physique, reflection and relationship are the social facets which give the brand its outward expression. These outward facets are communicated explicitly and they are visible and material. The brand pyramid and the identity prism areillustrated in figure 1. The emotional and representational components in the identity prism are more valuable, because the component of physique only forms the first stage in brand building. The intangible elements refer to the beliefs and meanings created in the minds of consumers. These intangible and symbolic elements include the brand personality; the way brands reinforce consumers’ self-images and brands’ abilities to represent consumers to others.HPGD/JA17/1072 14
FIGURE 1. The brand pyramid and the identity prism. The concepts of the brand pyramid and identity prism are effective in use. First, they enable management and their agencies to understand the brand, its strengths and opportunities. Second, they help to develop brand strategy and the formulation of the brand’s positioning in the market. Third, they enable the brand team to develop consistency in the message being transmitted through packaging and design, advertising, below-the-line activities and through potential brand extensions. Finally, understanding the brand’s core and style helps to determine how far the brand can be meaningfully stretched to other products and market segments.HPGD/JA17/1072 15
THE CONCEPT OF BRAND EQUITY2.1 Literature review The concept of brand equity emerged in the early 1990s. It was not defined precisely, but in practical terms it meant that brands are financial assets and should be recognizedas such by top management and the financial markets. Brand equity includes not only the value of the brand, but also implicitly the value of proprietary technologies, patents, trademarks, and other intangibles such as manufacturing know-how.