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This document outlines the top 10 concepts for creating brand equity with potential medical applications. It discusses key definitions like branding, brand equity, and brand promise. Each concept is defined in the context of building brand equity through understanding consumer brand knowledge, having the right target consumers, measuring brand equity, taking a long-term marketing view, branding new products, line extensions strengthening existing brands, and using brand portfolios to maximize market coverage while minimizing overlap. The summary emphasizes that strong brands are created through offering a great product or service, careful long-term planning and commitment, and creative marketing execution.
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1) Geico attempts to build brand equity through increasing brand awareness and creating a positive brand image. They use heavy advertising through TV, print, and outdoor marketing to saturate the market and increase brand recognition.
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3) In addition to advertising, Geico forms secondary brand associations by partnering with reputable organizations like AAA and celebrities like football player Jason Campbell to leverage their positive attributes and increase brand awareness further.April 2010 marcom
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Symbolic needs relate to gaining status or identity. Brands like Jimmy Choo handbags appeal to these needs by associating their products with luxury and prestige.
Experiential needs involve sensory pleasure and stimulation. Perfume brands like Playboy and body washes like Lux position themselves as providing exciting smells and feelings of luxury.Viewers also liked (10)
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The document discusses various aspects of brand management including defining brands and brand equity, developing brand positioning, and measuring brand performance. It covers common brand equity models like Aaker's model and BrandZ, and how they measure elements such as brand strength, relevance, and consumer perceptions. It also outlines strategies for managing brand equity like brand reinforcement, extensions, and handling brand crises.Chapter 9
Chapter 9Afnan Amjad
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This document discusses key concepts related to branding and brand equity. It defines a brand as a name, symbol or design that identifies a seller's goods/services and differentiates them from competitors. Brand equity refers to the added value provided to products and services due to the brand, as perceived by consumers. Brand equity is built through marketing activities and investments that create brand awareness, loyalty, perceptions of quality, and brand associations. It can be measured using tools like brand audits, brand tracking, and brand valuation. Managing brand equity involves developing a branding strategy that makes decisions around brand architecture, portfolio, and revitalization.Creating Brand Equity
Creating Brand EquityMuhammadBasit56
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Brands simplify product handling for consumers and signal quality, allowing satisfied buyers to easily purchase again. Branding involves creating meaningful differences between products to convince consumers of those differences. Brand equity is the added value provided by a brand and is reflected in how consumers think of and react to a brand, as well as the prices and profits it commands. Building brand equity involves choosing memorable brand elements, developing integrated marketing activities, and leveraging secondary brand associations. Measuring brand equity assesses the sources and outcomes of the value provided by a brand.Chapter 9 Creating Brand Equity
Chapter 9 Creating Brand EquityDiarta
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Brand equity refers to the added value provided to products and services by a brand. It is measured by how consumers think, feel and act towards the brand and is reflected in prices, market share and profits. David Aaker views brand equity as consisting of brand awareness, brand associations, perceived quality, brand loyalty and other proprietary assets. Marketers build brand equity by choosing memorable and meaningful brand elements, designing holistic marketing activities, and creating the right brand knowledge structures with consumers. Managing brand equity requires reinforcing, revitalizing or addressing crises to change brand knowledge over the long term. Brand portfolios introduce multiple brands to attract varied customers while minimizing overlap between brands.Co branding and brand measurement
Co branding and brand measurementsaharanrohit
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The document discusses tools and objectives for building customer-based brand equity including choosing brand elements, developing marketing programs, and leveraging secondary brand associations. It also discusses how marketing investments can create brand equity that leads to greater customer loyalty, pricing power, and shareholder value through increased awareness, stronger associations, and better market performance. Regular brand tracking and an equity management system are recommended to measure and improve brand equity over time.Business creating-brand-equity
Business creating-brand-equitysunma12345
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1. The document discusses branding, brand equity, and strategies for developing strong brands. It defines a brand as a name, symbol or design that identifies a seller's products and differentiates them from competitors.
2. Brand equity refers to the added value provided to products and services by a brand and is reflected in how consumers think about, feel about, and interact with a brand. Strong brands enjoy benefits like customer loyalty and the ability to charge a price premium.
3. Building brand equity requires identifying the brand promise or vision for what the brand will mean to customers. It also involves crafting strong brand elements like names, logos and slogans and implementing integrated marketing activities to communicate the brand identity.V47 Ch9 Creating Brand Equity Visual
V47 Ch9 Creating Brand Equity VisualJojo Canta
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This document discusses strategies for creating strong brands and building brand equity. It defines branding and brand equity, and outlines several models that can be used as guides, including the Brand Asset Valuator, Aaker Model, and Brand Resonance Model. The key elements identified for building a strong brand are developing great products, establishing a strong brand image, and providing excellent customer experience. Different strategies are discussed, such as conducting customer-centric market research, providing marketing support, and developing employees. The importance of measuring brand equity to identify elements for improvement is also highlighted.Introduction to the concept of" BRAND" and BRAND MANAGEMENT
Introduction to the concept of" BRAND" and BRAND MANAGEMENTBinoyG2
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This document provides an introduction and overview of brands and branding. It defines what a brand is, discusses the different levels of meaning that brands can convey, and introduces various brand concepts like brand pyramids, attributes, benefits, and values. The document also categorizes different types of brands such as product, service, organization, and personal brands. It discusses strategic brand management and how brands are identified, positioned, marketed, and have their performance measured to grow brand equity over time.10
10umangds
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The document discusses key concepts in branding and brand equity including:
1) It defines what a brand is and how branding works to identify the goods or services of one seller and differentiate them from competitors.
2) Brand equity is the differential effect brand knowledge has on consumer response to the marketing of that brand. Strong brands have improved perceptions, greater loyalty, and larger margins.
3) Brand equity is built through strong brand elements, effective marketing activities, and meaning transference between the brand and consumer. It is measured through brand audits, tracking, and valuation models.Kotler mm13e media_09
Kotler mm13e media_09swastika_p
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This document discusses key concepts around branding and brand equity. It begins by defining a brand as a name, symbol or design that identifies a seller's goods/services and differentiates them from competitors. Brand equity is defined as the added value provided to products/services by a brand and is reflected in how consumers think/feel about the brand. The document then outlines steps in strategic brand management, models for measuring brand equity, and discusses how brand equity is built, measured and managed.kotler_mm13e_media_09.ppt
kotler_mm13e_media_09.pptMTplanet
油
This document discusses key concepts around branding and brand equity. It begins by defining a brand as a name, symbol or design that identifies a seller's goods/services and differentiates them from competitors. Brand equity is defined as the added value provided to products/services by a brand and is reflected in how consumers think/feel about the brand. The document then outlines several models for measuring brand equity, including dimensions like differentiation, relevance and knowledge. It also discusses how brands are built through strong branding strategies that integrate marketing activities and meaning to consumers.Chapter 11 - Creating Brand Equityjjjjjjj
Chapter 11 - Creating Brand Equityjjjjjjjalfina506484
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The document discusses the significance of brand equity as a valuable intangible asset for firms, defined as the added value associated with a brand. It highlights how brands help consumers identify products, reduce risks, and signal quality, while also providing firms with competitive advantages and financial returns. The document outlines the elements of strong brand equity, models of consumer response, and strategies for building brand equity through various marketing communications and promotional activities.Branding
BrandingUtsuk Srivastava
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Branding is important for differentiating a company's products and services from competitors. A brand is a name, symbol or design that identifies a seller's goods and services. It creates value by building loyalty and trust with consumers.
Brand equity refers to the additional value a brand name provides compared to an unbranded product. It is made up of performance and emotional benefits in the minds of consumers. Strong brands have high awareness, preference and financial metrics like market share and revenue.
Effective brand management involves identifying brand positioning, implementing marketing strategies, measuring performance, and growing and sustaining brand value over time. Positioning communicates the core benefits and needs a brand satisfies. Marketing activities integrate different touchpoints to reach consumersKeller01
Keller01terrychivodze
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This document discusses strategic brand management and building customer-based brand equity. It defines a brand and introduces the challenges of modern branding. Brand equity is defined as the marketing effects attributable to a brand's name compared to an unnamed product. Customer-based brand equity depends on customer brand knowledge and marketing response. The determinants of customer-based brand equity are brand awareness and unique, favorable brand associations. Strategic brand management involves identifying brand positioning, implementing marketing programs, measuring performance, and sustaining equity over time.Intro to brand
Intro to brandRavi Foods Pvt. Ltd. (DUKES)
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This document provides an introduction to strategic brand management. It discusses key concepts like the definition of a brand, the difference between brands and products, and the roles and benefits of brands for both customers and manufacturers. It also outlines the components of strategic brand management, including identifying brand positioning and values, implementing marketing programs, measuring brand performance, and growing brand equity over time. Finally, it discusses how to create, measure, and manage customer-based brand equity.V47 Ch9 Brand Equity Visual Jojo Canta
V47 Ch9 Brand Equity Visual Jojo CantaJojo Canta
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The document discusses creating brand equity. It defines what a brand is and discusses various models for measuring brand equity. It also outlines strategies for building a strong brand, including having a great product, strong brand image, and good customer experience. Managing brand equity requires measuring elements to improve, continuously reinforcing or revitalizing the brand, and creating a portfolio of brands with different roles. Customers are critical to a brand's profitability.V47 Ch9 Brand Equity Visual Jojo Canta V2
V47 Ch9 Brand Equity Visual Jojo Canta V2Jojo Canta
油
This document discusses concepts for creating strong brands and brand equity. It defines brands and brand equity, and outlines strategies for building a strong brand like developing a great product, positive brand image, and good customer experience. It also discusses measuring brand equity, managing brand portfolios, and how popular brands like certain NBA players are popular due to their performance, charisma, and entertainment value they provide fans.Ad
Garcia chapt9
- 1. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications
- 2. Outline Definition of Terms (Brand, Brand equity, Brand promise) Creating Brand Equity Summary
- 3. Concept 1: Branding sets a product apart from the rest Definition Brand Elements Differences in consumer perception KEY:
- 4. Concept 1: Branding sets a product apart from the rest Kotler: Marshall Fields & Macys; Colonial Williamsburg Local: Rustans, Shoemart RP Medical Application: Belo Essentials, The Medical City Definition
- 5. Concept 2: Brand equity is the added value of a product or service Key ingredients: Definition Differences in consumer response Perceptions preferences BRAND KNOWLEDGE
- 6. Kotler: Apple Computer Local: Rustans, Powerplant Mall RP Medical Application: Concept 2: Brand equity is the added value of a product or service Definition
- 7. Concept 3: Brand promise is the vision of the brand for consumers Brand equity is a bridge towards the brands promise Definition
- 8. Kotler: Burger King Local: Globe Telecom RP Medical Application: Concept 3: Brand promise is the vision of the brand for consumers Definition
- 9. Concept 4: Understanding consumer brand knowledge is the foundation of brand equity BRAND Creating Brand equity Thoughts
- 10. Kotler: Volvo, Hallmark, Harley-Davidson Local: PAL RP Medical Application: Concept 4: Understanding consumer brand knowledge is the foundation of brand equity Creating Brand equity
- 11. Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity
- 12. Kotler: Nike, Avis, Jones Soda, The Olive Garden, Eli Lilly Local: Shoemart, Shampoo, Havaianas RP Medical Application: Concept 5: Having the right brand knowledge and right consumers builds brand equity Creating Brand equity
- 13. Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity Brand Audit Brand-tracking studies
- 14. Kotler: none Local: Superbrand Awards RP Medical Application: Concept 6: Brand equity needs to be measured to be managed well Creating Brand equity
- 15. Concept 7: Managing brand equity requires a long-term view of marketing actions Creating Brand equity Brand Reinforcement Brand Revitalization
- 16. Kotler: Harley Davidson, Mountain Dew Local: Jollibee RP Medical Application: Concept 7: Managing brand equity requires a long-term view of marketing act Creating Brand equity
- 17. Concept 8: Deciding on how to brand new products is critical in a firms branding strategy Creating Brand equity Individual names Separate Family Names Blanket Family Names Corporate + Individual Product Names BRAND RELATIONSHIP CONTINUUM
- 18. Kotler: General Mills, Heinz, Sears, Kelloggs Local: Universal Robina Corporation, Lamoiyan Corporation RP Medical Application: Concept 8: Deciding on how to brand new products is critical in a firms branding strategy Creating Brand equity
- 19. Concept 9: Most new products are line extensions Creating Brand equity Positive Feedback New product acceptance
- 20. Kotler: Groupe Michelin, Goodyear Local: Universal Robina Corporation RP Medical Application: UNILAB Concept 9: Most new products are line extensions Creating Brand equity
- 21. Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity Multiple brands Multiple segments
- 22. Kotler: Armani Local: Selecta Ice Cream RP Medical Application: Executive packages Different room rates Concept 10: Brand portfolios maximize market coverage but minimize brand overlap Creating Brand equity
- 23. Great product or service Careful planning and long-term commitment Creatively designed and executed marketing Summary: A strong brand commands intense customer loyalty Summary
- 24. Cristina M. Garcia Marketing Management Section 2 12 May 2010 Chapter 9: Creating Brand Equity Top 10 Concepts with Medical Applications