Brand Equity

Examples of Brand Equity in the following topics:

• Brand Equity

  • Brand equity is the value of a brand that is well-known and conjures positive associations, which helps it remain relevant and competitive.
  • This is why brand equity is oftentimes directly correlated with a brand's profitability.
  • This is why brand equity is oftentimes directly correlated with a brand's profitability.
  • Brand equity is strategically crucial, but also very difficult to quantify.
  • List the 10 attributes used to measure brand equity according to marketing professor and brand consultant David Aaker

• Brands and Brand Lines

  • What is the Purpose of a Brand Line or Brand Extension?
  • Organizations use this strategy to increase and leverage brand equity.
  • Brand line extensions are crucial because they reduce financial risk associated with new product development by leveraging the parent brand name to enhance consumers' perception as a result of its core brand equity.
  • Poor choices for brand extension may dilute and deteriorate the core brand and damage the brand equity.
  • Some studies show that negative impact may dilute brand image and equity.

• Defining Promotion

  • As a key marketing element, promotion comprises communications tactics used to educate consumers, increase demand, and differentiate brands.
  • Because public relations (PR) focuses on influencing and shaping public opinion, PR efforts are useful for building brand value and generating positive stories around products and services.
  • These promotional tools are even more effective when built into an integrated marketing communication strategy, since all communications work together simultaneously to multiply consumers' exposure to brand messaging.

• Marketing Performance Metrics

  • Marketing metrics have different elements of measurement, including net sales billed, number of product or design registrations, and brand surveys to measure brand awareness.
  • By collecting and analyzing marketing metrics, brands can build their marketing performance in the following ways:
  • More accurately assessing company marketing assets such as brand equity and its level of effectiveness among target audiences
  • Long-term ROMI creates a challenge for brands unfamiliar with using business analytics together with marketing analytics to determine resource allocation decisions.
  • For example, a marketing campaign may aim to change the perception of a brand.

• Pricing During Difficult Economic Times

  • In marketing, a fighter brand (sometimes called a fighting brand) is a lower priced offering launched by a company to take on, and ideally take out, specific competitors that are attempting to under-price them.
  • Unlike traditional brands that are designed with target consumers in mind, fighter brands are created specifically to combat a competitor that is threatening to take market share away from a company's main brand.
  • The Celeron microprocessor, shown here , is a case study of successful fighter brand.
  • Intel wanted to protect the brand equity and price premium of its Pentium chips, but it also wanted to avoid AMD gaining a foothold on the lower end of the market.
  • The Celeron microprocessor is a case study of a successful fighter brand.

• Branding Strategies

  • "No brand" branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name.
  • Personal branding treats persons and their careers as brands.
  • Faith branding treats religious figures and organizations as brands.
  • Kool-Aid is an individual brand that competes with Kraft's other brand (Tang).
  • Tang is an individual brand that competes with Kraft's other brand (Kool-Aid).

• Consumer Awareness

  • Two components comprise brand awareness: brand recall and the consumer recognition of the brand.
  • Brand recall is the ability of consumers to remember brands with reference to the product.
  • Similarly, brand recognition is the potential of consumers to retrieve past knowledge of the brand when asked or shown an image of the brand logo.
  • Brand awareness is an essential part of brand development, helping brands stand out from competitors.
  • Effective marketing campaigns that increase brand awareness also eliminate confusion between similar brands, as well as inconsistencies that may arise in brand extensions under single brands.

• Branding

  • A concept brand is a brand associated with an abstract concept like breast cancer awareness or environmentalism.
  • A commodity brand is a brand associated with a commodity.
  • " is an example of a commodity brand.
  • A brand which is widely known in the marketplace acquires brand recognition.
  • This is in contrast to the brand image, a customer's mental picture of a brand.

• Naming Brands

  • A brand name is the part of the brand that can be vocalized.
  • A strict manufacturer's branding policy under which a producer can only manufacture merchandise under his own brand
  • An exclusive distributor's brand policy where a producer does not have a brand of his own but agrees to sell his products only to a particular distributor and carry his brand name (typically employed by private brands)
  • Tang is an individual brand that competes with Kraft's other brand (Kool-Aid).
  • Discuss the purpose of a brand name, and the process of researching and selecting a brand name

• Types of Brands

  • The different types of brands include: individual products, product ranges, services, organizations, persons, individuals, groups, events, geographic places, private label brands, media, and e-brands.
  • Another type of brand is an organization.
  • A person can also be considered a brand.
  • Product, service and other brands realize the power of event brands and seek to have their brands associated with the event brands.
  • Private label brands, also called own brands, or store brands, exist among retailers that possess a particularly strong identity (such as Save-A-Lot).