2. A brand is a “name, term, sign, symbol, or
design, or a combination of them intended to
identify the goods and services of one seller
or group of sellers and to differentiate them
from those of competition.”
American Marketing Association
4. Consumers may evaluate the identical
product differently depending on how
it is branded
Consumers learn about brands through
past experinces with the product and
find out which brand satisfy their needs
and wants
Simplify decision making and reduce
risk
5. Brand equity is the added value that endowed
to products and services. This value may be
reflected in how consumers think, feel, and act
with respect to the brand, as well as the prices,
market share and profitability that the brand
commands for the firm. Brand equity is an
important intangible asset that has
psychological and financial value to the firm.
7. The brand is viewed from the perspective of the
customer, an individual or an organization.
The power of the brand lies in what customers
have seen, read, heard, learned and thought
about the product over time.
A brand is said to have positive customer brand
equity when consumers react favorably to a
product.
A brand is said to have negative brand equity if
consumers react less favorably to the product.
8. Brand Asset Valuator:
Developed by Advertising agency Young and Rubicam(Y&R).
According to BAV there are four
pillars of brand equity:
Differentiation
Relevance
Esteem
Knowledge
Differentiation and relevance point to the brands future
value and Esteem and acknowledge reflects the past
performance of the firms.
9. Viewed by UC-Berkeley professor David Aaker.
There are a set of five categories of brand assets
and liabilities which add value to the product.
They are:
Brand loyalty
Brand awareness
Perceived quality
Brand associations
Other proprietary assets
10. Developed by marketing research consultants
Millward and WPP.
As per this model brand building involves series of
steps:
The objectives of each steps are the following:
Presence
Relevance
Performance
Advantage
Bonding
11. • It also views brand building as an ascending,
sequential series of steps
• Ensuring identification of the brand with
customers’ minds with a specific product class or
customer need.
• Firmly establishing the brand into the mind of the
consumer.
• Eliciting proper customer response to in terms of
brand related judgment and feelings.
• Converting brand response to create an intense,
active loyalty relationship between customers and
the brand.
12. Building brand equity includes:
The initial choices for the brand elements or the
identities making up the brand
The product and service and all accompanying
marketing activities and supporting marketing
programs
Other associations indirectly transferred to the
brand by linking it to some other entity
(person, place, thing etc…)
13. Brand elements are those trademarkable devices
that serve to identify and differentiate the brand.
Most strong brands employ multiple brand
elements.
Brand elements can be chosen to build as much
brand as possible.
Brand elements have its choice criteria which should be:
Meaningful
Memorable
Likeability
Transferable
Adaptable
Protectable
14. Strong brand names simplify the decision process and
reduce risk;
Brand names are used to maintain higher awareness of
products;
Company’s use brand equity to gain leverage when
introducing new products;
The brand name is often interpreted as an indicator of
quality;
Strong brand equity insures that your products are
considered by most buyers;
Higher brand name equity leads to greater loyalty from
customers;
Strong brand equity is the best defenst against new products
and competitors;
Improvements in brand equity lead to higher rates of
product trial and repeat purchuasing due to buyers’
awareness of your brand, approval of its image/reputation
and trust in its quality.
