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9 Cards in this Set

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  • Back
Brand Equity Elements
1. Brand Loyalty
2. Brand Awareness
3. Perceived Quality
4. Brand Associations
5. Other Proprietory Brand Assets
What is "Brand Equity"?
=> Provides value to Customer by enahcning Customer's
* Interpretion / Processing of Info.
* Confidence in the purchase decision
* User satisfaction

=> Provides value to Firm by enhancing
* Efficiency and effectiveness of marketing programs
* Brand loyalty
* Price / Margins
* Brand extensions
* Trade leverage
* Competitive advantage
Brand Loyalty
=> Reduced marketing cost
=> Trade leverage
=> Attracting new customers
* Create awareness
* Reassurance
=> Time to respond to competitive threats
Brand Awareness
=> Anchor to which other associations can be attached
=> Familiarity-liking
=> Signal of sustance / commitment
=> Brand to be considered
Perceived Quality
=> Reason-to-buy
=> Differentiate / Position
=> Price
=> Channel member interest
=> Extensions
Brand Associations
=> Help process / retrieve information
=> Reason-to-buy
=> Create positive attitude / feelings
=> Extensions
Brand Associations
=> Help process / retrieve information
=> Reason-to-buy
=> Create positive attitude / feelings
=> Extensions
Other Proprietary Brand Assets
=> Competitive advantage
Why Is It Hard to Build Brands?
1. Pressure to compete on price
2. Proliferation of competitors
3. Frabmenting markets & media
4. Complex brand strategies & relationships
5. Bias toward changing strategies
6. Bias against innovation
7. Pressure to invest elsewhere
8. Short-term pressures