Creating Brand Equity

    Cards (58)

    • Brand
      A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors
    • Branding
      Endowing products and services with the power of a brand
    • Brand equity
      The added value endowed on products and services
    • Customer-based brand equity
      The differential effect brand knowledge has on consumer response to the marketing of that brand
    • Brand knowledge
      All the thoughts, feelings, images, experiences, and beliefs associated with the brand
    • Brand promise
      The marketer's vision of what the brand must be and do for consumers
    • Four key components—or pillars—of brand equity, according to BAV
      • Energized differentiation
      • Relevance
      • Esteem
      • Knowledge
    • Energized differentiation
      Measures the degree to which a brand is seen as different from others, and its perceived momentum and leadership
    • Relevance
      Measures the appropriateness and breadth of a brand's appeal
    • Esteem
      Measures perceptions of quality and loyalty, or how well the brand is regarded and respected
    • Knowledge
      Measures how aware and familiar consumers are with the brand
    • Brand strength
      Energized differentiation and relevance combine to determine a leading indicator that predicts future growth and value
    • Brand stature
      Esteem and knowledge together create a "report card" on past performance and a current indicator of current value
    • BrandDynamics Pyramid shows the number of consumers who have reached each level
      • Presence
      • Relevance
      • Performance
      • Advantage
      • Bonding
    • Presence
      Active familiarity based on past trial, saliency, or knowledge of brand promise
    • Relevance
      Relevance to consumer's needs, in the right price range or in the consideration set
    • Performance
      Belief that it delivers acceptable product performance and is on the consumer's short-list
    • Advantage
      Belief that the brand has an emotional or rational advantage over other brands in the category
    • Bonding
      Rational and emotional attachments to the brand to the exclusion of most other brands
    • Six "brand building blocks"
      • Brand salience
      • Brand performance
      • Brand imagery
      • Brand judgments
      • Brand feelings
      • Brand resonance
    • Brand salience
      How often and how easily customers think of the brand under various purchase or consumption situations
    • Brand performance
      How well the product or service meets customers' functional needs
    • Brand imagery
      The extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs
    • Brand judgments
      Customers' own personal opinions and evaluations
    • Brand feelings
      Customers' emotional responses and reactions with respect to the brand
    • Brand resonance
      The relationship customers have with the brand and the extent to which they feel they're "in sync" with it
    • Six criteria for choosing brand elements
      • Memorable
      • Meaningful
      • Likable
      • Transferable
      • Adaptable
      • Protectable
    • Memorable
      How easily do consumers recall and recognize the brand element, and when—at both purchase and consumption?
    • Meaningful
      Is the brand element credible?
    • Likable
      How aesthetically appealing is the brand element?
    • Transferable
      Can the brand element introduce new products in the same or different categories?
    • Adaptable
      How adaptable and updatable is the brand element?
    • Protectable
      How legally protectable is the brand element?
    • Brand contact
      Any information-bearing experience, whether positive or negative, a customer or prospect has with the brand, its product category, or its market
    • Integrated marketing
      Mixing and matching these marketing activities to maximize their individual and collective effects
    • Internal branding
      Activities and processes that help inform and inspire employees about brands
    • Brand community
      A specialized community of consumers and employees whose identification and activities focus around the brand
    • Brand audit
      A consumer-focused series of procedures to assess the health of the brand, uncover its sources of brand equity, and suggest ways to improve and leverage its equity
    • Brand-tracking studies
      Collect quantitative data from consumers over time to provide consistent, baseline information about how brands and marketing programs are performing
    • Brand valuation
      The job of estimating the total financial value of the brand
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