Creating brand equity
Marketers build brand quality by creating the right brand knowledge structures with the right consumers.
Building brand equity
3 sets of brand equity drivers.
-Initial choices for the brand elements or identities making up the brand (brand names, URLs, logos, symbols, -product and service and all accompanying marketing activities and supporting marketing programs – way brand is integrated into supporting marketing program -associations indirectly transferred to the brand by linking it to some other entity
Choosing brand elements
Brand elements = trademarkable devices that serve to ID and differentiate a brand (Nike swoosh) Test of the brand-building ability of elements is what consumers would think or feel about the product if they only know about the brand element
6 criteria in choosing brand elements. First 3 are ‘brand building’, latter 3 are ‘defensive’ -memorable – how easily is brand element recalled
-meaningful – to what extent is the brand element credible and suggestive of the corresponding category -likeability – how aesthetically appealing do consumers find the brand element? -transferable – can element be used to introduce new products in the same or different categories -adaptable – is it updateable?
-protectable – is it legally protectable? Can it be copied?
Designing holistic marketing activities
Brand contact = any information-bearing experience a costumer or prospect has with the brand, product category, or the market that relates to the marketer’s product or service. Marketers are creating brand contacts and building brand equity through avenues like sports, clubs, events, PR, press etc)
Experiential marketing, one-to-one marketing, permission marketing. Concepts all about getting consumers more actively involved with a brand by creating an intense, active relationship. Personalization makes sure the brand and marketing program are as relevant as...