BRAND ELEMENTS AND BRAND EQUITY

Presented by:-

Saachi Mahajan 2nd semester MIET,JAMMU

BRANDS
It is a name or symbol or a mark that helps in identifying a product or a producer or both.

Names and

U R Ls

Logo and Symbols

Characters

Slogans and Jingles

Packaging and Signage

CHOICE CRITERIA

Memorable recognition, recall Meaningfulness persuasive Likability - fun, visually pleasing

Transferability - with in and across product boundaries Adaptability - flexible, updatable

Protectable - legal, competitive

Developing Brand Element

Plays a number of brand-building roles. Are those Trademarkable Devices that identify and differentiate the brand in the market place.

Brand element basically consist of : a. Brand Name b. Logo c. Slogan d. Quality e. Symbols f. Package etc.

 Brand elements also capture intangible characteristics like, LIC of INDIA uses the symbol of a lit lamp enveloped by two folded hands in the traditional Indian NAMASTEY, symbolizing protection

 MRF brand of tires uses the symbol of muscular hands holding a tire, symbolizing a tire with muscles. Slogans are efficient means to build brand equity. They can function as useful hooks.

Raymond slogan like The Complete Man

BRAND EQUITY
It is the added value endowed on products and services. Reflected in way consumers think, feel and act w.r.t the brand, prices etc. Consumer Based brand equity :I. Positive CBBE. II. Negative CBBE.

Example :- Coke vs. Pepsi

One ongoing battle that has been waging for years is the one that exists between Pepsi and Coke, or formally known as Pepsi Cola and Coca-Cola. An online Tribune poll revealed a virtual dead heat in the great Coke versus Pepsi debate. Of the 346 votes cast, 50.87 percent took Coke and 49.13 percent went with Pepsi. Pepsi has demanded a recount. - Credit East Valley Tribune, Phoenix AZ

MEASURING BRAND EQUITY

The power of brand resides in the mind of consumers and he way it changes their response to marketing there are two basic approaches to measure brand equity: 1. Indirect approach : This approach assesses potential sources of brand equity by identifying and tracking consumer brand knowledge structures. 2. Direct approach : This approach assesses the actual impact of brand knowledge on consumer response to different aspects of marketing.

In this approach, we design controlled marketing experiments to study what conditions actually influence consumer attitudes. For instance, consider the questions below. 1. To what extent does having a high degree of brand recall influence positive attitudes? 2. To what extent does having a strong, positive and unique image lead to a positive perception of the brand's marketing activities such as its advertising?

Cont To perform a useful strategic function and guide marketing decisions marketers need to fully understand : 1. The sources of brand equity and how they affect outcomes of interest? 2. How these sources and outcome changes? These questions can be answered by two techniques : Brand audit. Brand-tracking studies.

MANAGING BRAND EQUITY

BRAND REINFORCEMENT
BRAND REVITALIZATION

BRAND REINFORCEMENT
Reinforce brand equity by marketing actions that consistently convey the meaning of the brand to consumers in terms of brand awareness and brand image. E.g. :- Nivea

Brand Revitalization
A strategy to re capture lost sources of brand equity and identify and establish new sources of brand equity. This may include product modification or brand repositioning.
Some factors effecting brand revitalization: Changes in consumer taste. Emergence of new competitors. Development of new technology. New development in the marketing environment. E.g. :- Mountain dew, bournvita

THANK YOU

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