10-1 MARKETING MANAGEMENT Brand Equity. Chapter Questions What is a brand, and how does branding work? What is brand equity, and how is it built, measured,

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Presentation transcript:

10-1 MARKETING MANAGEMENT Brand Equity

Chapter Questions What is a brand, and how does branding work? What is brand equity, and how is it built, measured, and managed? What are the important decisions in developing a branding strategy? © Copyright 2008 Pearson Education Canada 8-2

Brand A name, term, sign, symbol, intended to identify the goods or services of one seller and to differentiate them from those of competitors © Copyright 2008 Pearson Education Canada 8-3

The Role of Brands Signify quality Create barriers to entry Competitive advantage Secure price premium © Copyright 2008 Pearson Education Canada 8-4

Branding Endowing products and services with the power of a brand © Copyright 2008 Pearson Education Canada 8-5

Anything Can Be Branded a physical good a service a store a person a place an organization or even an idea 8-6

Brand Equity 1.Estimate of the added value endowed to products. 2.This is reflected in how consumers think, feel, and act with respect to the brand, as well as the prices, market share, and profitability that the brand commands for the firm © Copyright 2008 Pearson Education Canada 8-7

Brand Elements Elements Slogans Brand names URLs Logos Symbols Characters © Copyright 2008 Pearson Education Canada 8-8

Brand Elements © Copyright 2008 Pearson Education Canada 8-9

Slogans Like a good neighbour, State Farm is there Just do it Nothing runs like a Deere Help is close to home We try harder We’ll pick you up Zoom I’m lovin’ it This Bud’s for you Always low prices 8-10

Measuring Brand Equity Brand audits Brand tracking Brand valuation © Copyright 2008 Pearson Education Canada 8-11

Brand Roles in a Brand Portfolio Flankers Low-end Entry-level High-end prestige Cash cows © Copyright 2008 Pearson Education Canada 8-12

Reasons for Multiple Brands in Portfolio To increase shelf presence To attract consumers seeking variety To increase internal competition To yield economies of scale © Copyright 2008 Pearson Education Canada 8-13