Brand equity depends on the following five assets and Liabilities Brand Loyalty
Proprietary assets(Logo and other trademarks)
Looking at McDonalds, We find the following
The Golden arches has become synonymous with not just fast food but American culture wherever McDonalds has gone other than U.S Recent customer study done in Malaysia reveals that
100% respondents could identify the slogan “I’m Loving it” 88% could identify the other trademarks of McDonalds
87% could recognize its advertisements without seeing the brand logo 80% Believe that it is not possible for any other business to copy McDonalds McDonalds’ identifiable brand elements include
Brand Escort and more.
It is also intangibly protected by its ESP(emotional selling propositions) as a fast food brand that focuses on Love, sharing and family values.
Brand Elements of McDonalds
The Golden arches of McDonalds are Memorable, in most surveys there is a very high percentage of brand recall. The brand over the years has been able to make a space of its own in consumers’ mind and hence even though McDonalds literally cannot be associated with food, because of brand building efforts over decades it has now become synonymous with fast-food. Its tag line “ I’m Loving it” and various other brands such as the happy meal and Big Mac have been consistently amongst the brands with highest brand recall. The embodiment of the brand character as Ronal McDonald has also played a role in building brand equity. The elements of brand equity apart from being memorable and meaningful have also proved to be transferable, McDonalds also came up with McCafe Coffee Line which has also been flourishing over the years.
Please join StudyMode to read the full document