1 visit: Managing Brand Equity

2 visit: Brand equity is a set of brand assets and liabilities linked to a brand

3 visit: Elements of Brand Equity: Brand Loyalty Brand Awareness Perceived Quality Brand Associations

4 visit: Brand Loyalty Brand loyalty is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features.

5 visit: Brand Loyalty Pyramid Committed Buyer Likes the Brand - Considers it a Friend Satisfied Buyer With Switching Costs Habitual Buyer - No Reason to Change Indifferent – No Brand Loyalty Switchers / Price Sensitive

6 visit: Measuring Brand Loyalty Purchase Behavior Patterns Switching Cost Analysis Satisfaction Measurement

7 visit: Strategic Value of Brand Loyalty Reduce marketing cost Trade (channel distribution) leverage Attracting new customers

8 visit: Enhancing Brand Loyalty Treat the customer right Stay close to the customer Measure/manage customer satisfaction Create switching cost Provide extras

9 visit: Brand Awareness is the ability of a potential buyer to recognize or recall that a brand is a member of a certain product category

10 visit: Brand Awareness Hierarchy Top of Mind Brand Recall Brand Recognition Unaware of Brand

11 visit: Value of Brand Awareness Anchor to which other associations can be attached Familiarity and liking Signal of substance/commitment Brand to be considered

12 visit: How to Achieve Brand Awareness Be different, memorable Involve a slogan or jingle Symbol exposure Publicity Event sponsorship

13 visit: The customer's perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives. Perceived quality is a perception by customers. Perceived Quality

14 visit: Product What Influences Perceived Quality of Product? Performance Features Conformance with specifications Reliability Durability Serviceability Fit and finish

15 visit: Service What Influences Perceived Quality of Service? Appearance Reliability Competence Responsiveness Empathy

16 visit: The Value of Perceived Quality Reason-to-Buy Differentiate/Position A Price Premium Channel Member Interest Brand Extensions

17 visit: Brand Association A brand association is anything "linked" in memory to a brand. Thus, McDonald's could be linked to a character such as Ronald McDonald, a consumer segment such as kids, a feeling such as having fun, a product characteristic such as service, or a symbol such as the Golden Arches.

18 visit: Some Types of Associations Product Attributes Customer Benefits Relative Price Lifestyle/Personality Celebrity/Person Use/Application

19 visit: The Value of Brand Associations Help Process/Retrieve Information Differentiate/Position Reason-to-Buy Create Positive Attitudes/Feelings Basis for Extensions

20 visit: Maintaining Associations Be consistent over time Be consistent over elements of the marketing program Manage disasters in order to minimize their damage

21 visit: Criteria for Brand Name Selection Be easy to learn and remember Suggest the product class Support a symbol or slogan Suggest desired association without being boring or trivial Not suggest undesired associations Be distinctive Be available and protectable legally

22 visit: Source of Reference: David Aaker, Managing Brand Equity : Capitalizing on the Value of A Brand Name, Free Press. You can obtain this excellent book at this link: David-Aaker/dp/ /ref=pd_bbs_sr_1?ie=UTF8&s=books&qid= &sr=1-1http:// David-Aaker/dp/ /ref=pd_bbs_sr_1?ie=UTF8&s=books&qid= &sr=1-1