Growing & Sustaining Brand Equity by Biyi Bamiduro
1.
2. What is Brand Equity?
“To be persuasive we must be believable; to be believable we must be credible; to be credible we must be truthful.”
Edward R. Murrow
3. This is the value of a brand,
based on the extent to which it
has high brand loyalty, name
awareness, perceived quality,
strong brand associations and
other assets such as patents,
trademarks and channel
relationships.
The ability of a brand to
generate more value due to the
associations made by its
customers.
It also seen as the a set of assets
(and liabilities) linked to a brand’s
name and symbol that adds to (or
subtracts from) the value
provided by a product or services
to a firm and/or that firm’s
customers
Brand equity is the sum of all the hearts and minds of every single person that comes into contact with your company.”
Christopher Betzter
4. TWO WAYS BRAND EQUITY ALLOWS COMPANIES
TO GENERATE VALUE
.
A brand enables a company to
generate value because it can often
command a
price premium over comparable
generic products
“A product can be quickly outdated, but a successful brand is timeless.”
Stephen King
A strong brand can often be extended
to related,
or even unrelated, products, providing
these products
with a sales boost. This allow the
substantial cost of
advertising and promoting a brand to
be spread over more products,
but the additional exposure can
strengthen the core brand.
5. BUT...
Brand Equity does not
always have positive impacts
on the value generated by a
company. Some brands will
generate a bad reputation
due to association with poor
products and bad
marketing, and this can
cause negative brand equity,
where consumers
actively prefer generic
products to the
branded alternative.
“An image is not simply a trademark, a design, a slogan or an easily remembered picture. It is a studiously crafted personality profile of an individual, institution,
corporation, product or service.”
Danie J BoorstinZZ
6. Growing Brand equity
“Long-term brand equity and growth depends on our ability to successfully integrate and implement all elements of a comprehensive marketing program.”
Timm F Crull, Chairman & CEO of Nestle
7. ta
S
g
in
d
n
O
t
u
As consumers choose between brands,
they look out for compelling reasons to help them make those
decisions
Brands with a meaningful point of difference are more likely to be
chosen repeatedly by consumers and ultimately, enjoy success
Example: Apple (Iphone). The Iphone is essentially an
operating system that allows users to add whatever application
they choose
“A tiny change today brings a dramatically different tomorrow.”
Richard Bach
8. Brand equity pyramid
BRAND BUILDING PROCESS
“A brand is a personification of a product, service, or even entire company.”
Robert Blanchard
9. BRAND
SALIENCE
Achieving the right brand identity involves
creating brand salience with customers.
Brand salience relates to aspects of the
awareness of the brand, for example, how
often and easily the brand is evoked under
various situations or circumstances.
Our success is a direct result of knowing how to market a brand and having the right people representing the brand.”
Greg Norman
10. A good product that completely satisfies consumer’s
needs and wants is the base for a successful brand.
Product
reliability,
durability, and
serviceability
Price
BRAND
PERFORMANCE
Style and
design
“Good decisions come from experience. Experience comes from making bad decisions. ”
Mark Twain
Service
effectiveness
, efficiency,
and empathy
11. BRAND
IMAGERY
Brand imagery is how
people think about a
brand abstractly, rather
than what they think the
brand actually does.
“Create your own visual style… let it be unique for yourself and yet profitable for others.”
Orson Welles
12. BRAND
JUDGEMENTS
Brand judgments focus on personal
evaluations and opinions that customers
have regarding to a brand.
It involves how different performance and
imagery associations are put together to form
different kinds of opinions.
“Don’t think about consumer needs in terms of product categories, but rather in terms of consumer experiences.”
James Thompson
13. Brand feelings are customers’ emotional responses and reactions with regards to the
brand.
Excitement
Fun
Warmth
BRAND
FEELINGS
Self respect
Social
approval
“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.”
Thomas J. Watson Jr.
Security
14. RESONANCE
Brand resonance is the ultimate
relationship and level of identification
that the customer has with a brand,
It is about the kind of relationship
where the customer feels
that they are in sync with the brand.
“I am not looking like Armani today and somebody else tomorrow. I look like Ralph Lauren. And my goal is to constantly move in fashion and move in style without giving up what I am.”
Ralph Lauren
16. “There is no greater fraud than a promise not kept.”
Scottish saying
17. Availability
“Quality in a service or product is not what you put into it. It is what the client or customer gets out of it.”
Thomas J. Watson Jr.
18. Preference
“The golden rule for every businessman is to put yourself in your customer’s place.”
Orison Swett Marden
19. Loyalty
Brand loyalty is according to Aaker a very
important issue and an enduring asset for some
businesses is the loyalty of the regular customers.
Four importance of brand loyalty.
•.Loyal customers create and strengthen the image of a
brand
• Loyal customers give a firm some breathing room.
• It is more difficult to enter a market where the
competitor benefits from existing loyal customers.
• It reduces marketing costs, since loyal existing
customers are easier to hold.
“Do something worth remembering!”
Elvis Presley
20. Awareness
Brand awareness is consumers´ ability to identify the
brand under two different circumstances;
Brand recognition and
Brand recall performance.
Brand awareness is very important when
the customers wants to make decisions
Brand awareness is formed by increasing the
knowledge of the brand through repeated exposure
and strong associations with the right product
category or relevant purchase or consumption cues
Our success is a direct result of knowing how to market a brand and having the right people representing the brand.”
Greg Norman
21. Familiarity
“The stronger the dialog, the stronger the brand; the weaker the dialog, the weaker the brand.”
Larry Webber
22. Image and Personality
If you want to create a brand image you must
establish it in people’s mind/memory.
Communicating a brand image is an essential part
of marketing and a fundamental marketing activity
in order to be successful
•. Perceptions in general differ from person to
person, therefore it is crucial for the company to
have a well defined objective of how they wish to be
portrayed and perceived by their consumers.
“Customers must recognize that you stand for something.”
Howard Schultz, Starbucks
23. Association
“The more you engage with customers the clearer things become and the easier it is to determine what you should be doing”
John Russell, President, Harley-Davidson
24. “A greAt brAnd is A story thAt’s never
completely told.”
scott bedbury