Download Lecture 1 Introduction of Branding

Lecture 1
Brand Equity and
Brand Elements
Dr. Lucy Ting
[email protected]
Agenda
• Week Overview
– Monday + Tuesday: Branding
– Wednesday + Thursday : Marketing Communication
– Coursework
• What is a Brand?
– Brand Concept
– Brand Elements
• What is a strong Brand?
– Brand Equity
– Sources of Brand Equity
Week Overview
Week Overview
Mon
10th May
8:30-9:15
9:25-10:10
Tue
11th May
Wed
12th May
Thur
13th May
Introduction Brand
of Branding Extensions
Integrated
Marketing
Communic
ation
Personal
Selling and
PR
Global
10:30-11:15
Brand
11:25-12:10 Positioning Brand
MarCom
Ethics and
Psychology Marketing
14:00-14:45
Brand
14:55-15:40 Strategy
Other Tools
E-MarCom
and
Advertising
Discussion2
Discussion1
Discussion 1
• Choose two of your favourite fashion
brands in China: one locally from China
and one from abroad.
– Who are their target markets?
– What are their products?
– What are their main points of parity and points
of difference?
– Do you agree with their positioning strategy?
– How might the strategies be improved in your
opinion?
Discussion 2
• Choose two of your favourite fashion
brands in China: one locally from China and
one from abroad.
– What media do they choose to communicate
with their target markets?
– How do they use Internet as a tool?
– What are the messages they intend to deliver?
– Does the messages correspond to the brand
images?
– How might the strategies be improved in your
opinion?
What is a Brand?
A brand is a “name, term, sign, symbol,
or design, or a combination of them,
intended to identify the goods and
services of one seller or group of
sellers and to differentiate them from
those of competition.
--American Marketing Associations (1992)
www.marketingpower.com
Brand Elements
• Basic elements include…
– Brand Name
– Logos and Symbols
Keller (2008) Chapter 4
Brand Elements
• Basic elements include…
– Web address
www.wellbeing.com
www.diy.com
– Characters
Keller (2008) Chapter 4
Brand Elements
• Basic elements include…
www.thedieline.com
– Packaging
– Music
– Slogans
Keller (2008) Chapter 4
Putting it all together…
• Brand Identity
The common element sending a single
message amid the wide variety of its
products, actions and communications
Kapferer (2007)
6 Facets of Brand Identity
Sender
Externalisation
Relationship
Culture
Reflection
Internalisation
Personality
Physique
Self-Image
Receiver
Kapferer (2007)
What is a strong Brand?
The result of a strong brand is that
customers’ willingness to buy one brand is
more than its competitors
Brand Equity
• Does a brand worth a penny?
– Brands have financial value because they
have created assets in the minds and hearts
of customer, distributors, prescribers and
opinion leaders.
Kapferer (2007)
Brand Equity
• Customer-Based Brand Equity (CBBE)
– It is the differential effect that brand
knowledge has on consumer response to the
marketing of that brand
– A positive CBBE means customer might be
more accepting to the marketing activities (ie.
the marketing mix) for a brand
Keller (2008) & Keller (1993), “Conceptualizing, Measuring and Managing
Customer-Based Brand Equity,” Journal of Marketing, 57(1), pp. 1-29
Sources of Brand Equity
CBBE
Brand Awareness
Brand Association
Keller (2008) Chapter 2
Sources of Brand Equity
CBBE
Brand Awareness
Brand Recall
Brand Association
Brand Recognition
Keller (2008) Chapter 2
Sources of Brand Equity
• Brand Recall
– Consumers’ ability to retrieve the brand from
memory when given the product category, the
needs fulfilled by the category, or a purchase
or usage situation as a cue
• Brand Recognition
– Consumers’ ability to confirm prior exposure
to the brand when given the brand as a cue
Keller (2008) Chapter 2
Sources of Brand Equity
• How people process information?
– When decisions are made at the point of
purchase, where brand name, logo, packaging,
and so on will be physically present and
visible, brand recognition would be important
– When decision are made in settings away from
the point of purchase, brand recall would be
more important
Sources of Brand Equity
• How to increase Brand Awareness?
– Repeated exposure to increase familiarity
– Strong association with appropriate product
category or relevant purchase or consumption
cue
Alba and Hutchinson, (1987), “Dimensions of Consumer Expertise,” Journal of
Consumer Research, 13(4), pp. 411-453
Sources of Brand Equity
CBBE
Brand Awareness
Brand Association
Strength
Favourability
Uniqueness
Keller (2008) Chapter 2
Sources of Brand Equity
• Strength
– Personal Relevance of the brand and the
Consistency with which the brand is
presented over time can strengthen the brand
association.
Sources of Brand Equity
• Favourability
– Favourable association for a brand are those
associations that are desirable to consumers,
successfully delivered by the product, and
conveyed by the supporting marketing
program
Sources of Brand Equity
• Uniqueness
– The uniqueness of the brand gives
consumers a compelling reason why they
should prefer this brand than the others
Sources of Brand Equity
• How to create Brand Association ?
– Brand positioning strategy which give unique,
meaningful points of differences to the brand
to provide a competitive advantage and a
reason why consumers should buy