3. BRAND EQUITY A brand is a name or symbol used to identity the source of the product. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. This concept is known as brand equity.
4. NEED FOR BRAND EQUITY Values of brand equity ? Value to the customer ? Value to the firm ?
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6. Brand extension
7. Consumer basedBrand is an intangible asset that produces added benefits for the business. This is the domain of strategic brand management : how to create value with brand management.
10. Fortification“If these business were split up I would give you the land and the bricks and mortar and I would take the brand and the trade mark and I would fare better than you” - JOHN STUART
11. BRANDING STRATEGIES Single brand identity Umbrella strategy Multi – brand categories Family of names strategy
15. Association (brand personality, organizational association).
16. Awareness (brand awareness).
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18. BENEFITS OF BRAND EQUITY Predictable income stream - Increases cash flow - Brand equity is an asset - Improved perception - customer loyalty - competitive marketing actions - Less marketing crisis - Larger margins - brand extension opportunities. LIMITATIONS OF BRAND EQUITY Failure to live up to the brand promise - support the brand - control over the brand - improper balancing of consistency and change in the brand .
