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    Building Brand Equity

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    Glorrya Tamboto
    Marketers build brand equity by creating the right brand knowledge structures with consumers. There are three main drivers of brand equity: 1) initial brand elements like names and logos, 2) products and marketing activities, and 3) associations indirectly transferred through links to other entities. Choosing strong, memorable, and meaningful brand elements helps build brand equity, as does managing all customer touchpoints and developing brand communities. Marketers must measure brand equity directly through consumer responses and indirectly by identifying brand knowledge structures to understand how sources of equity affect outcomes and change over time.

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    Building Brand Equity

    Uploaded by

    Glorrya Tamboto
    30 views3 pages
    Marketers build brand equity by creating the right brand knowledge structures with consumers. There are three main drivers of brand equity: 1) initial brand elements like names and logos, 2) products and marketing activities, and 3) associations indirectly transferred through links to other entities. Choosing strong, memorable, and meaningful brand elements helps build brand equity, as does managing all customer touchpoints and developing brand communities. Marketers must measure brand equity directly through consumer responses and indirectly by identifying brand knowledge structures to understand how sources of equity affect outcomes and change over time.

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    BUILDING BRAND EQUITY

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    Marketers build brand equity by creating the right brand knowledge structures with consumers. There are three main drivers of brand equity: 1) initial brand elements like names and logos, 2) products and marketing activities, and 3) associations indirectly transferred through links to other entities. Choosing strong, memorable, and meaningful brand elements helps build brand equity, as does managing all customer touchpoints and developing brand communities. Marketers must measure brand equity directly through consumer responses and indirectly by identifying brand knowledge structures to understand how sources of equity affect outcomes and change over time.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views3 pages

    Building Brand Equity

    Uploaded by

    Glorrya Tamboto
    Marketers build brand equity by creating the right brand knowledge structures with consumers. There are three main drivers of brand equity: 1) initial brand elements like names and logos, 2) products and marketing activities, and 3) associations indirectly transferred through links to other entities. Choosing strong, memorable, and meaningful brand elements helps build brand equity, as does managing all customer touchpoints and developing brand communities. Marketers must measure brand equity directly through consumer responses and indirectly by identifying brand knowledge structures to understand how sources of equity affect outcomes and change over time.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    BUILDING BRAND EQUITY

    Marketers build brand equity by creating the right brand knowledge structures with
    the right consumers. This process depends on all brand-related contacts—whether
    marketer-initiated or not. From a marketing management perspective, however,
    there are three main sets of brand equity drivers:

    1. The initial choices for the brand elements or identities making up the brand
    (brand names, URLs, logos, symbols, characters, spokespeople, slogans,
    jingles, packages, and signage).
    2. The product and service and all accompanying marketing activities and
    supporting marketing programs.
    3. Other associations indirectly transferred to the brand by linking it to some
    other entity (a person, place, or thing).

    CHOOSING BRAND EQUITY

    Brand elements are devices, which can be trademarked, that identify and
    differentiate the brand. Most strong brands employ multiple brand elements. Nike
    has the distinctive “swoosh” logo, the empowering “Just Do It” slogan, and the
    “Nike” name from the Greek winged goddess of victory. Marketers should choose
    brand elements to build as much brand equity as possible.

    1. BRAND ELEMENT CHOICE CRITERIA


    There are six criteria for choosing brand elements. The first three—
    memorable, meaningful, and likable—are “brand building.” The latter three
    —transferable, adaptable, and protectable—are “defensive” and help
    leverage and preserve brand equity against challenges.
    2. DEVELOPING BRAND ELEMENTS
    Brand elements can play a number of brand-building roles. If consumers
    don’t examine much information in making product decisions, brand
    elements should be easy to recall and inherently descriptive and persuasive.
    The likability of brand elements may also increase awareness and
    associations.

    Designing Holistic Marketing Activities


    Brands are not built by advertising alone. Customers come to know a brand
    through a range of contacts and touch points: personal observation and use, word
    of mouth, interactions with company personnel, online or telephone experiences,
    and payment transactions. A brand contact is any information-bearing experience,
    whether positive or negative, a customer or prospect has with the brand, its product
    category, or its market. The company must put as much effort into managing these
    experiences as into producing its ads.

    Marketers are creating brand contacts and building brand equity through
    new avenues such as clubs and consumer communities, trade shows, event
    marketing, sponsorship, factory visits, public relations and press releases, and
    social cause marketing.

    Leveraging Secondary Associations

    These “secondary” brand associations can link the brand to sources, such as the
    company itself (through branding strategies), to countries or other geographical
    regions (through identification of product origin), and to channels of distribution
    (through channel strategy), as well as to other brands (through ingredient or co-
    branding), characters (through licensing), spokespeople (through endorsements),
    sporting or cultural events (through sponsorship), or some other thirdparty sources
    (through awards or reviews).

    Internal Branding

    Marketers must now “walk the walk” to deliver the brand promise. They must
    adopt an internal perspective to be sure employees and marketing partners
    appreciate and understand basic branding notions and how they can help—or hurt
    —brand equity. Internal branding consists of activities and processes that help
    inform and inspire employees about brands.

    Holistic marketers must go even further and train and encourage distributors and
    dealers to serve their customers well. Poorly trained dealers can ruin the best
    efforts to build a strong brand image.
    Brand Communities

    A brand community is a specialized community of consumers and employees


    whose identification and activities focus around the brand. Three characteristics
    identify brand communities:

    1. A “consciousness of kind” or sense of felt connection to the brand,


    company, product, or other community members;
    2. Shared rituals, stories, and traditions that help to convey the meaning of the
    community;
    3. A shared moral responsibility or duty to both the community as a whole and
    individual community members.

    MEASURING BRAND EQUITY

    How do we measure brand equity? An indirect approach assesses potential sources


    of brand equity by identifying and tracking consumer brand knowledge structures.
    A direct approach assesses the actual impact of brand knowledge on consumer
    response to different aspects of the marketing. “Marketing Insight: The Brand
    Value Chain” shows how to link the two approaches.

    The two general approaches are complementary, and marketers can employ both.
    In other words, for brand equity to perform a useful strategic function and guide
    marketing decisions,marketers need to fully understand

    (1) the sources of brand equity and how they affect outcomes of interest, and

    (2) how these sources and outcomes change, if at all, over time.

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