Brand Management
Session 2: Brand Equity and Brand Manager
Zeeshan Kingshuk Huq
Guest Faculty
2 3/10/14/ZKH
We read about the the relationship in last class
§ Brand is a promise
§ Product is the system of delivering this promise
§ Advertisement proposes and makes you believe this delivery of promise
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BRAND EQUITY
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But what is a good brand made of?
§ Brand Equity is the difference between the value offered by a product / service by the company the value perceived by the consumers ! Is Mercedes expensive?
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Brand Equity consists of …
Brand Loyalty
Brand Awareness
Perceived Quality
Brand Association
Reduced marketing cost
Trade Leverage
Attracting new customers
Time to respond to competitive threats
Anchor to which other associations can be attached
Familiarity-liking
Signal of substance
Consideration
Reason to buy
Differentiation / Position
Price
Channel-member interest
Extension
Easy interpretation
Reason to buy
Create positive image
Extension
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Can we measure Brand Equity?
§ Yes, and there are various models
§ Details of different approaches to conceptualize brand equity differ
§ However, all of them share a common core à typically rely on brand knowledge structures in the minds of consumers
§ Consumers – individuals or organizations – are the single source or foundation of brand equity
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Generic Model in Measuring Brand Equity
§ Considerations ! Brand Awareness
- Breadth - Depth
! Brand Image - Characteristics, price,
durability, quality, effective - Personification (user
versus brand) - Values, history, heritage - Feelings
§ Measurements ! Brand Awareness
- Brand Recognition - Unaided Recall - Aided Recall
! Brand Image - Free Association - Means-Ends Chain
Analysis - Projective Techniques - Ethnography /
Observation - Aaker Scale
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Other models § IPSOS Brand Health
Model ! Consumer Perception à
Equity ! Category Involvement à
Sensitivity ! Price Perception à Value
§ Research International Equity Engine ! Affinity ! Identification ! Approval ! Performance
§ Young & Rubicam BrandAsset® Valuator ! Differentiation ! Relevance ! Strength / Knowledge ! Stature
§ Milward Brown BrandDynamicsTM ! Presence ! Relevance ! Performance ! Advantage ! Bonding
§ Neilsen Winning Brands ! 4/5 stages
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How long does it take to build a brand?
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BRAND MANAGER
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What are the expertise / role of a Brand Person?
§ S/he is the parent of the brand, agency is the mentor that grooms the brand
§ Skill-set needed: ! Creativity ! A natural observer – gathers insights ! Networking, resourcefulness ! People-savvy ! Rational, analytical ability ! Capability to write succinctly ! Attention to details
§ S/he is the sole responsible person for the growth of the brand – there’s nothing s/he can escape from. Rest of marketing department supports her/him.
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Brand Person provides a brief
§ A good brief is a reflection of how well the brand person understands and owns his/her brand
§ Brief means brief ! Concise – no more than 2 pages ! Simple and Clear – for anyone, free from jargons ! Positive and truthful – inspiring, driving excellence
§ Outline
§ Should be presented in person to the agency, including the creative team, preferably with product demo
14 3/10/14/ZKH
Brief to Agency § Why do we want new advertising?
§ Who are we talking to?
§ What effect should the advertising have on the consumer? What does s/he think now? What would we like her to think/do?
§ The story – what is the single most persuasive benefit we can offer?
§ Why should the believe it?
§ What are the executional considerations?
§ What are the practical considerations, e.g. timing, advertising properties, competitive reaction, regulatory aspects, etc
§ Authority
§ Budget strength
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QUIZ
1. Would you want to be a brand manager? If yes, why? If not, why not?
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QUESTIONS AND ANSWERS
