MARKETING MANAGEMENT Chapter 9 Creating Brand Equity
1 MARKETING MANAGEMENT Chapter 9 Creating Brand Equity
LEARNING OBJECTIVES After reading this chapter, students should Know what a is brand and how branding works Know what is brand equity Know how brand equity is built, measured, and managed Know the important decisions in developing a branding strategy
2 LEARNING OBJECTIVES • After reading this chapter, students should: – Know what a is brand and how branding works – Know what is brand equity – Know how brand equity is built, measured, and managed – Know the important decisions in developing a branding strategy
Chapter Outline Basics of brand Brand Equity Branding Decisions Strategies
3 Chapter Outline • Basics of Brand • Brand Equity • Branding Decisions & Strategies
What is a brand? A name, term, sign, symbol design or some combination that identifies and informs about the products of a firm
4 What is A Brand? A name, term, sign, symbol, design, or some combination that identifies and informs about the products of a firm
Good Brand names Lack poor Distinctive Foreign Language Meanings Easy to: Suggest Suggest Product Pronounce Product Qualities Benefits Recognize Remember
5 Suggest Product Benefits Distinctive Lack Poor Foreign Language Meanings Suggest Product Qualities Easy to: Pronounce Recognize Remember Good Brand Names
What is a Brand? User Culture Personality Attributes Benefits Values
6 Attributes Attributes Benefits Benefits Values Values Culture Culture User User Personality Personality What Is A Brand?
Example: Mercedes-Benz 55 year old executive German An austere culture palace Expensive High Well-built performance Important durable satel ty admired
7 Expensive Well-built durable Expensive Well-built durable High performance safety High performance safety German culture German culture 55 year old executive 55 year old executive An austere palace An austere palace Important admired Example: Mercedes-Benz
Brands promise customer benefits · Three brand benefits Functional Emotional Self-EXpressive
8 • Three Brand Benefits – Functional – Emotional – Self-Expressive Brands promise customer benefits
Functional benefits Superior product attributes performance, taste ingredients, etc “ Tastes better”;“ Lasts Longer,, New Improved etc Examples Gillette MacH3 Crest toothpaste Functional Benefits Sharp flat-panel TV
9 Functional Benefits • Superior product attributes, performance, taste, ingredients, etc. • “Tastes better”; “Lasts Longer”, “New & Improved” etc. • Examples – Gillette MACH3 – Crest toothpaste – Sharp flat-panel TV Functional Benefits
Emotional benefits How brands make people feel when they use them Safe in a volvo Sexy in Chanel #5 Outdoorsy in Timberland Emotional Benefits Internal, psychic rewards Functional Benefits
10 Emotional Benefits • How brands make people feel when they use them – Safe in a Volvo – Sexy in Chanel #5 – Outdoorsy in Timberland • Internal, psychic rewards Functional Benefits Emotional Benefits