Leveraging secondary brand associations to build brand equity by Leroy J. Ebert
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Leveraging secondary brand associations to build brand equity Content Extracted from “Strategic Brand Management” 3rd Edition Authors: Kevin Lane Keller M.G. Parameswaran Issac Jacob Presentation developed from SLIM Diploma In Brand Management Students Presentation developed by Leroy J. Ebert (17th May 2014)
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Leveraging secondary brand associations to build brand equity by Leroy J. Ebert
- 2. Secondary Sources of Brand Knowledge
- 3. 0 The first three entities that reflect these factors 0 Who makes the product 0 Where is the product made 0 Where is it purchased 0 Remaining entities deal with people place or things
- 4. What Do Customers Know About The Other Entity 0 Create new association 0 Impact on existing brand knowledge
- 5. Guidelines 0 Ingredient branding may reinforce a point of difference against competing brands 0 When selecting a ingredient brand take in to consideration the customers awareness of the ingredient 0 A commodity can get an advantage by simply associating itself with the right ingredient 0 Complimentarity – between brand and ingredient
- 6. Company 0 Launch a new brand and use the company’s equity to educate customer on what it stands for.
- 7. Country of Origin 0 Japan 0 Switzerland 0 France 0 Sri Lanka 0 Germany
- 8. Channels of Distribution 0 ODEL 0 Hameedia
- 9. Co-branding
- 10. Guidelines to Co-branding 0 Both brand should have equal awareness 0 Sufficiently strong 0 Favorable 0 Unique associations 0 Positive consumer judgments and feelings
- 12. Licensing
- 13. Guidelines for Licensing 0 Don’t get caught up, one minute they are in next minute they are gone 0 Multiple license agreements results in over exposure and wearing out quickly 0 If your brand gets over exposed, either you will close or you will sell
- 21. 0 A celebrity that endorses a countless number of brands across multiple categories, with varying brand equity levels, targeting wider demographic profiles; is like a brand that has stretched itself beyond its capacity. 0 Such celebrities may not add strategic value to the brand 0 Once the celebrity switches to another brand so will majority of the customers.
- 22. Celebrity Issues 0 Sponsoring for the sake of sponsoring will not bring results 0 There needs to be a strategic fit between the brand and the celebrity who endorses the brand 0 The celebrities actions, behavior, comments etc will have direct impact on the brands performance
- 23. Conflict in Brand Image Representation
- 24. No Fans No Endorsements https://www.youtube.com/watch?v=XW0LZ3zoOks
- 25. Sponsoring Events 0 Use popular events with a loyal following to create links and associations. 0 The equity of the event will be rubbed off on the brand that is sponsoring it. 0 Just sponsoring will not mean a lot to the participants/customers, instead the brand needs to create an opportunity for the brand to interact with the participants and also create a brand experience. 0 When budgeting for an event sponsorship allocate a separate budget to promote the event via ATL & BTL media and also for activations and give away's.
- 26. 3rd Party Sources 0 Endorsements from leading magazines
- 27. Content Extracted from “Strategic Brand Management” 3rd Edition Authors: Kevin Lane Keller M.G. Parameswaran Issac Jacob Presentation developed from SLIM Diploma In Brand Management Students Presentation developed by Leroy J. Ebert (17th May 2014)