Session 3: Brand Equity. How strong is your brand? Dr Gerard Tocquer School of Management Asian Institute of Technology
Brand Equity. A measure of your brand strength The marketing effect uniquely attributable to the brand name « A Set of Assets or liabilities linked to a brand name which add to or substract from the value provided by a product or service to a customer.” David Aaker. Brand consultants and academics like Y&R, Millward Brown, Ipsos offer different brand equity frameworks and metrics to help their clients to manage their brands
Brand Asset Valuator. Y&R 56 000 brands. 52 countries. 25 years of data Uniqueness of How appropriate and How highly regarded a brand the brand. meaningful a brand is and how well it deliver on Power driver of is to consumers. its promises? advocacy and Drive brand pricing power The depth of understanding people consideration have of a brand Vitality Emotional capital Brand Asset
2018 100 Niche Leadership 75 Brand Strength Mass Differentiation & Relevance market 50 New or Unfocused Gap 25 0 Esprit Eroded or Commodity Differentiation Relevance Esteem Knowledge Brand Stature Esteem & Knowledge Source: BAV Group 2021 Vitality No emotional Pb attachment
Differentiation Relevance Esteem Knowledge Source: BAV Group 2021
Keller Customer Brand Equity Model* 4. Forge intense Ultimate brand relationship goal 3. Build 2. Create brand positive customers Image responses (strong, unique & relevant associations) 1.Establish brand awareness *Model developed for FMCG Brands
Customer Knowledger Brand Equity Moving customers 4. along the funnel through 4 steps Brands through Marketing Relationships Communication. Building 6 blocks 3. Brands Brands Judgments Feelings 2. Brand Brand Imagery Performances 1. Brand Awareness Customer Knowledge Brand Equity. Keller
Step 1: Building Brand Awareness
Ability to recall and recognize the brand in a product category
Three Brand Awareness Key Concepts 1.Brand Recall Could you give me any Printer brand names?
22.Brand Recognition Please find below a list of Printer brands. Tell me which ones you heard about it before? - Brother - Toshiba - Canon - Tektronix - Dell - Epson - Dymo - Fujitsu - HP - Ibm - Kodak - Konica Minolta - Kyocera - Lexmark - Oki - Panasonic - Pantum - Ricoh - Samsung - Sharp …
Recognition High Low brand recall & high recognition is often a graveyard area for brands Bad Low Low High Brand Graveyard Recall
3. Brand Familiarity The frequency of interaction a consumer has with a brand i.e. the number of experiences with the brand Brand familiarity is enough to influence consumer choices for FMCG
Step 2: Building Brand Image Brand Performances and Brand Imagery associations Objective: Building brand image through strong, unique, relevant associations with Marketing Communication
1. Brand Performances: Building Brands Associations related to Product Category - Product features - Functional benefits - Experiential benefits - Durability. Quality. Safety - Service - Perceived price & value - Product design -…
Product Features
Functional Benefits. What the brand does for fulfilling customers’ needs?
Perceived Quality. Durability. Safety…
Safe
Experiential benefits How much a product triggers consumer five senses?
Customer Service
Perceived Price & Value
Product Design A scooter for the wealthy
In the past FMCG companies has build their Brands on Product Performances Superiority + HUGE Market Communication Budget As Brand Manager you must know the Top 4 Drivers in your category
2. Building brand associations through imagery - Users profile - Usage situations - Users image - Personality - Life style - Cultural - Company associations - Secondary associations
Users Profile
Usage Situations
Brand Personality
Life Style
Cultural Meaning
Company Associations 1. Company Leader 2. Company Heritage 3. Country of Origin 4. Corporate Social Responsibility/Cause 5. Corporates Values
Company Leader
Heritage
Country of Origin. Made in. Design in. Branded in. Assembly in
Corporate Values Corporate culture as the brand foundation. Culture=Brand
Corporate Social Responsibilities - Environmental - Social - Ethical
Secondary Associations Associations that you borrow to someone Co-Branding Ingredient Branding Sponsorships Celebrities Endorsement Character Licensing Third Parties Sources
A Brand Meaning IS STRONG in consumers’ mind when: High level of Awareness + Unique, Strong and Relevant brand associations in memory that create Positive Consumers Responses
Brand Performance Brand Imagery Nivea Cream Family. For everybody. Reliable. Blue &White Honest. Straightforward. Mildness. Caring. Purity Modern. Sympathetic. Clean. Fresh. Affordable. Unpretentious. Gentle. Not a gimmick Smell and touch feelings Brand Awareness and Familiarity 100% brand awareness in Europe. Less in US & Asia. Strong brand familiarity in Europe
Step 3: Building Positive Emotional Responses Consumers emotional responses occur when consumers interact with a brand (Its products or services, staff or self-service technologies, its communication activities) This emotional response drives customers choice.
1. Brand Feelings: Customers feeling when interacting with your Brand Your Job as Brand Manager is to make your more customers in love with your Brand
I love that brand. Love for life. Will My emotional never switch choice. Always a Love pleasure to carry that last it with me Never heard about Will buy it only Will buy it but the brand when not always other brands will Love not be available Unknown Indifferent Like I hate this brand Customer Emotional Response
Self-Esteem
Trust: We rely on trust everyday Trust is only relevant in situations with uncertainty. You are not an expert Expertise Consistency Honesty Benevolence Credibility
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