1. Brand Equity...... Def n “Brand Equity is the totality of the brand's perception, including the relative quality of the products and services, financial performance, customer loyalty, satisfaction and overall esteem towards the brand. Brand Equity relates to how the customers, consumers, employees and all the stake holders feel about the brand.”.....................................Konapp (2007)‏

2. Brand Equity...... Def n “ Brand equity is a set of brand assets and liabilities linked to a brand, it's name and symbol add to or subtract from the value provided by a product or service to a firm and / or to the firm's customers”......................................Aaker (1991)‏ “Brand equity consists of differential attributes underpinning a brand which gives increased value to the firm's balance sheet”............... Chernatony and McDonald

3. Brand Equity...... Def n “ The Brand equity is the total accumulated value or worth of a brand; the tangible and intangible assets that the brand contributes to it's corporate parent, both financially and in terms of selling leverage”....................................Upshaw

4. What is Brand Equity? What distinguishes a brand from its unbranded commodity counterpart and gives it equity is the sum total of consumers’ perceptions and feelings about the product’s attributes and how they perform, about the brand name and what it stands for, and about the company associated with the brand. Source: Alvin A. Achenbaum, “The Mismanagement of Brand Equity, 1993

5. The Value of a Strong Brand “Brand equity has just as much effect on stock price as do earnings.” —David Aaker Professor of Marketing, Emeritus University of California, Berkeley

6. Conceptualizing Brand Equity Product Brand Equity (+/- Surplus)‏ Worth of the brand Customer behaviour Discrimination and value Perception / Knowledge Structure Brand Communications & Contacts Drive toward or against the brand

7. Brand Equity Perceived Brand Quality Brand Awareness Brand Name Symbols Brand Loyalty Other Proprietary Brand Assets Patents Trademarks Channel relationships Brand Associations Personality Benefits Attitudes Provides Value to Customer by Enhancing: Interpretation/processing of information Confidence in the Purchase Decision Use Satisfaction Provides Value to Firm by Enhancing: Efficiency and Effectiveness of Marketing Programs Brand Loyalty Prices/margins Brand extensions Trade Leverage Competitive Advantage What is Brand Equity? Source: Aaker (1991) “Managing Brand Equity”

8. How Brand Equity Provides Value High Brand Loyalty Other Brand Assets More/Better Brand Associations High Perceived Quality High Brand Awareness Reduced marketing costs Increased trade leverage Patents or trademarks Strong channel relationships Creates positive image Helps customer process information Supports quality positioning Supports higher-price strategy Easier to make brand associations Increased liking and familiarity Provides value to customer: Assists in customer information processing Increases confidence in purchase Increases satisfaction in product use Provides value to firm: Increases effectiveness of marketing programs Increases customer loyalty and trade leverage Facilitates brand extensions Is a source of competitive advantage

9. Benefits of Brand Equity Stronger brand loyalty Larger margins (price elasticity)‏ Less vulnerability Higher trade support Increased marketing communication effectiveness More opportunities for licensing and brand extensions (line/product and geographical extensions)‏

10. Customer based Brand Equity Customer-based brand equity is the differential effect of brand knowledge on consumer response to the marketing of a Brand Marketing Programme of a brand Brand Equity a differential effect Brand Knowledge of the brand

11. Source of Brand Equity The Brand Knowledge Structure is the source of Brand Equity What resides in the consumer's mind in the form of knowledge structure determines the brand equity

12. What is Knowledge Structure A brand in the mind is a memory / node which is connected with other nodes signifying various associations This network is called Brand knowledge The structure and content of brand knowledge influences consumer behaviour

13. Brand Knowledge Sources of Brand Knowledge – Brand Awareness – Brand Image Strength of Brand Associations Favorability of Brand Associations Uniqueness of Brand Associations

14. Building Customer-Based Brand Equity Brand knowledge structures depend on... The initial choices for the brand elements The supporting marketing program and the manner by which the brand is integrated into it Other associations indirectly transferred to the brand by linking it to some other entities

15. Brand Elements A variety of brand elements can be chosen that inherently enhance brand awareness or facilitate the formation of strong, favorable, and unique brand associations: – Brand Name – Logo – Symbol – Jingles Character Packaging Slogan

16. Components of Brand Knowledge Brand Knowledge Brand Knowledge Brand Awareness Brand Recognition Asso- ciation Brand Recall Perception Brand Image 1) Visually and verbally reinforce the brand ID 2) Develop creative memorable linkages between the brand and the situations. 1) increase brand strength by providing relevant and consistent information 2)Improve Brand Favorability by crea ting association with desirable, deliverable attributes/benefits 3) Develop uniqueness by associating point of parity/ difference to the brand Purchase / Consumption

17. What is Brand Awareness? Ability to identify a brand under different conditions Brand Recall Brand Recognition A necessary condition for inclusion in the set of brands being considered for purchase A sufficient condition for choice in low- involvement decision settings Influences the nature and strength of association

18. Brand Image o User Imagery Brand Image Brand Perceptions through Associations AttributesAttitudesBenefits Non-product- related Product related (various degrees of features / ingr- edients Symbolic Experimental Functional Brand Personality Feelings & feelings associated experiences Usage Imagery Price Uniqueness of brand association Favourability of brand association Strength of brand association Types of brand association

19. Strength Of Brand Association Brand A Connection by Inferences Connection by Communicated Commercial Messages Connection by Communicated Non-Commercial Messages Connection by Direct Experience

20. 20 Free Associations LEVI’S 501 High quality, long lasting, and durable Blue denim, shrink-to-fit cotton fabric, button-fly, two-horse patch, and small red pocket tag Feelings of self-confidence and self-assurance Comfortable fitting and relaxing to wear Honest, classic, Contemporary, approachable, independent, and universal Appropriate for outdoor work and casual social situations Western, American, blue collar, hard-working, traditional, strong, rugged, and masculine BENEFITS ATTRIBUTES Symbolic Usage Imagery User Imagery Brand Personality Functional Product-Related Experiential

21. Strength of Brand Association (Initial Associative Strength) BRAND A Quantity : Attention Quality : Relevance and Consistency

22. Strength of Brand Association– Recallability (Long-Term Associative Strength) Length Of Time Presence of other Product Information Type and number of cues in the context of recall

23. Favorability and Uniqueness of Brand Associations I Want It (Desirability Brand X can deliver it (Deliverability)‏ It is Different

24. Determine Desired Brand Knowledge Identify Target Market – Demographic, Psychographic,Geographic, and Behavioral Segmentation Identify the Brand Competitors Analyze the Similarities and Differences between the Brand and the Competitors – Point of parity is often the first step before the establishment of the point of difference