Brand

Do you know…? Brand equity What is Brand? Six Levels of Brand       Attributes Benefits Values Culture Personality User Definitions of Brand Equity  “Brand equity is the set of brand assets and liabilities linked to the brand, its name, and symbol, that adds or subtracts value to a product or service for a firm/ or its customers” (David Aaker). “Brand equity is the set of associations that permits the brand to earn greater volume than it would without the brand name” (Marketing Science Institute). “Brand equity is everything the customer walks into the store with” (Peter Farquhar). “A set of associations which are most strongly linked to a brand name” (Andrea Dunham).    The concept of brand equity Mental Brand response Market response Brand Equity Mental Brand Equity Behavioural Brand Equity Financial/Economical Brand Equity Brand behavioural response Secure users Open non-users Types of Consumers Entrenched users users who are not available for conversion, remain loyal Available consumers non-users who prefer the brand in question to their current choice Average users secure users who are not available for conversion, committed to the brand Ambivalent consumers non-users equally attracted to the brand in question and current choice Unavailable non-users Shallow users beginning to show sign of wavering, loyalty below average, starting to consider other brands Weakly unavailable consumers non-users whose preference lies with their current brand, but not strongly Convertible users on the threshold for leaving the brand Strongly unavailable consumers non-users who have strong preference for their current brand Vulnerable users Why Manage Brand Equity?     Presence of a brand in consumers mind Influence on their buying behaviour Effects on brands market position and financial result Financial value of the brand as a immaterial assets of the company Brand Equity Management Image  Consistency  Customer Equity  R & D Investment  Brand Practical Examples  Virgin  Snapple Beverage Corporation V/S What do you prefer? 42% 58% Sprite 7up What motivates you to buy Sprite? 0% 0% 3% 97% Taste Specail offers Packaging Price Will you pay more for Sprite? 37 Yes No 63 What motivates you to buy 7up? 0% 1% 0% Taste Price Packaging Special Offers 99% Will you pay more for 7up? 40% 60% Yes No Sprite Ice   Awareness Did like/ Didn’t like? 7up Ice   Awareness Did like/ Didn’t like? Is Sprite available everywhere and every time you want it? 9% Yes No 91% Is 7up available everywhere and every time you want it? Yes No Conclusions If Competition is a race then Brand Equity is Driving Skills!!!!!!!!!!