Marketing management topic 1 creating brand equity

MARKETING MANAGEMENT Topic Creating Brand Equity Kotler Keller 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? 9-2 Brand 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 differentiate them from those of competitors 9-3 Attributes of Strong Brands      Excels at delivering desired benefits Stays relevant Priced to meet perceptions of value Positioned properly Communicates consistent brand messages      Well-designed brand hierarchy Uses multiple marketing activities Understands consumerbrand relationship Supported by organization Monitors sources of brand equity 9-4 The Role of Brands     Identify the maker Simplify product handling Organize accounting Offer legal protection     Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium 9-5 Branding Endowing products and services with the power of a brand 9-6 Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of that brand 9-7 Brand Associations    Strong Unique Favorable 9-8 Marketing Advantages of Strong Brands       Improved perceptions of product performance Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins Inelastic consumer response to price increases      Elastic consumer response to price decreases Greater trade cooperation Increase in effectiveness of IMC Licensing opportunities Brand extension opportunities 9-9 Brand Promise The marketer’s vision of what the brand must be and for Consumers 9-10 Brand Equity Models  Brand Asset Valuator  Aaker Model  BRANDZ  Brand Resonance 9-11 Drivers of Brand Equity    Brand elements Marketing activities Meaning transference 9-12 Brand Elements    Brand names Slogans Characters    URLs Logos Symbols 9-13 Brand Element Choice Criteria    Memorable Meaningful Likeability    Transferable Adaptable Protectible 9-14 Slogans      Like a good neighbor, State Farm is there Just it Nothing runs like a Deere Help is just around the corner Save 15% or more in 15 minutes or less         We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices 9-15 Measuring Brand Equity    Brand audits Brand tracking Brand valuation 9-16 Interbrand’s Brand Equity Formula        Brand earnings Brand sales Costs of sales Marketing costs Overhead expenses Remuneration of capital charge Taxation         Brand strength Leadership (25%) Stability (15%) Market (10%) Geographic spread (25%) Trend (10%) Support (10%) Protection (5%) 9-17 Managing Brand Equity    Brand reinforcement Brand revitalization Brand crises 9-18 Devising a Branding Strategy    Develop new brand elements Apply existing brand elements Use a combination of old and new 9-19 Branding Terms       Brand line Brand mix Brand extension Sub-brand Parent brand Family brand       Line extension Category extension Branded variants Licensed product Brand dilution Brand portfolio 9-20 Brand Naming     Individual names Blanket family names Separate family names Corporate name/individual name combo 9-21 Brand Roles in a Brand Portfolio     Flankers Cash cows Low-end entry-level High-end prestige 9-22