Defining and evaluating Brand Equity and Brand Strength

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Part II

• Defining and evaluating Brand Equity and Brand
  Strength
• Defining Brand Identity

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EVALUATING THE BRAND STRENGTH ON THE MARKET

• From Motivationist Marketing Models
• to
• Brand Strength Brand Equity

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Motivationist models inputs

• Favorability of Attitudes with the brand name
• Familiarity with the brand name
• Image profile
• Perceptual maps
• Preference
• Behavorial models

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Favorability of Attitudes and Degree of
Familiarity
Attitudes
- -


Brand D
Brand C
Familiarity
Brand B
Is this ever possible ????!!
Brand A
- -
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Image profile of the brand
A
B
C
Criteria 1 Criteria 2 Criteria
3 Criteria ... n
- - -

Brand Product
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Perceptual maps
Prestige cars among managers
A car prestigious to own High
Mercedes
BMW
Jaguar
Alfa
A financially effective car
Toyota(Lexus)

Audi
High
Low
Saab
Honda(legend)
Volvo

Low
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Preference Models
Knowers
15
0
100 70 25 15 0
Preferers
Non Knowers
Indifferents
Rejectors
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Behavorial models
Brand A
Brand B
Aware
Repurchase
Positive
Triers
Satisfied
Total market
Which is strongest ???
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We are looking forBrand Strength /or
EquityBrand Capacity to create Meanings and
Added Value
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EVALUATING BRAND STRENGTH /or EQUITY

• 1) What we must know
• 2) On what criteria is Brand strength measured ?
• 3) Where do we stand in the brand building
  continuum ?

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2 approaches Keller Aaker ( Hutinel)

• Customer approach Keller
• General  Market  approach Aaker

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Customer Based Brand Equity

• ACCORDING TO KELLER

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Motivation forCustomer-Based Brand Equity Model

• Marketers know strong brands are important but
  arent always sure how to build one.
• CBBE model was designed to be
• comprehensive
• cohesive
• well-grounded
• up-to-date
• actionable

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Rationale of Customer-Based Brand Equity Model

• Basic premise Power of a brand resides in the
  minds of customers
• Challenge is to ensure customers have the right
  types of experiences with products services and
  their marketing programs to create the right
  brand knowledge structures
• Thoughts
• Feelings
• Images
• Perceptions
• Attitudes

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Building Customer-Based Brand Equity

• Building a strong brand involves a series of
  steps as part of a branding ladder
• A strong brand is also characterized by a
  logically constructed set of brand building
  blocks.
• Identifies areas of strength and weakness
• Provides guidance to marketing activities

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Salience Dimensions

• Depth of brand awareness
• Ease of recognition recall
• Strength clarity of category membership
• Breadth of brand awareness
• Purchase consideration
• Consumption consideration

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Performance Dimensions

• Primary characteristics supplementary features
• Product reliability, durability, and
  serviceability
• Service effectiveness, efficiency, and empathy
• Style and design
• Price

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Imagery Dimensions

• User profiles
• Demographic psychographic characteristics
• Actual or aspirational
• Group perceptions -- popularity
• Purchase usage situations
• Type of channel, specific stores, ease of
  purchase
• Time (day, week, month, year, etc.), location,
  and context of usage
• Personality values
• Sincerity, excitement, competence,
  sophistication, ruggedness
• History, heritage, experiences
• Nostalgia
• Memories

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Judgment Dimensions

• Brand quality
• Value
• Satisfaction
• Brand credibility
• Expertise
• Trustworthiness
• Likability
• Brand consideration
• Relevance
• Brand superiority
• Differentiation

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Feelings Dimensions

• Warmth
• Fun
• Excitement
• Security
• Social approval
• Self-respect

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Resonance Dimensions

• Behavioral loyalty
• Frequency and amount of repeat purchases
• Attitudinal attachment
• Love brand (favorite possessions a little
  pleasure)
• Proud of brand
• Sense of community
• Kinship
• Affiliation
• Active engagement
• Seek information
• Join club
• Visit web site, chat rooms

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ApplicationIdentify the key drivers of brand
equity
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We are looking forBrand StrengthBrand
Capacity to create Meanings and Added Value
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General  Market  Approach

• ACCORDING TO AAKER HUTINEL

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PREFERENCE
QUALITY
IMAGE ASS.
AWARENESS
PROPERTY
LOYALTY
BRAND STRENGTH (EQUITY)
VALUE FOR THE COSTUMER
VALUE FOR THE FIRM
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Brand preference

• If a customer / prospect is interested by the
  product price, or its caracteristics or usage
  etc... and is not convinced in the Brands
  advantage, then the Brand preference is weak and
  the Brand added value also weak.
• Intensity of Brand Preference Probably the best
  measurement of attitudinal strength towards the
  brand, of brand loyalty and of brand value to the
  individual costumer as well as to the firm.

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Awareness

• What is it ?
• - T.O.M
• - Spontaneous
• - Aided
• ..... ?

• Saliency
• - connotations
• - familiarity
• - perceived value
• - activeness
• - esteem
• - power
• - notoriousness/
• - reputation

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The Image of the Brand Itself

• Definition All associations suggested by the
  Brand
• respect
• trustworthiness
• innovativeness
• creativity

• meanings ascribed, values
• attachment
• affective measures
• wantibility
• personality
• affectivity
• power ....

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Levels of brand Loyaltyor Strength of Brand Link
Promotes the Brand
Trustfull, likes the Brand
Satisfied, but still could change
Conservative to the Brand, but not really
satisfied
Indifference to the brand
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Measuring Brand Loyalty

• Behavior purchase acts
• Switching costs
• Satisfaction

• Preference
• Attitudes emotions towards the Brand
• Purchase Intent

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Perceived quality

• PIMS results On the long run, perceived
  quality is the most influential factor of ROI and
  ROS ratios.
• it affects market share, price
  marketing efficiency costs

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Perceived Brand quality

• Different from product quality

• does not rely ONLY on usage

?
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Brand Strength Building Continuum
Bond Affinity
Advantage
?
Performance
Relevance
Presence
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Brand Strength

• Level depth of loyalty
• (Intensity of) Preference
• Awareness saliency
• Quality
• Image, positionning, associations
• selling value
• price premium potentiality
• how much bonding ?

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Towards Brand Identity
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The Brand Chinese Picture

• An Object
• An animal
• A celebrity
• A country
• A location
• An atmosphere
• A painting

• Synonymous Brands
• Antonymous Brands

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Brand Mental Map Build-up
Your Brand
store
fun
friendly
flashlights
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Most typical/salient aspects of Brand  Persona 
Most typical Physical offer and salient aspects
Of Brand
Most typical/active apects of Brand Culture
Ligitimacy
Nature activenessof Relation established by
Brand
BRAND IDENTITY
Brand Non-Adepts Set of mind of Brand of Brand
Adepts
Brand Adepts set of mind of Brand of themselves
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Brand Personality Factors and facets

• Sincerity down-to-earth, Honest, Wholesome,
  Cheerful
• Excitement Daring, Spirited, Imaginative,
  Up-to-date
• Competence Relaible, Intelligent, successful
• Sophisitication upper-class, charming,
  brilliant
• Ruggedness outdorsy, tough

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Brand Equity Measurement
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Brand Tracking Studies

• Structure
• Brand Awareness and usage
• Brand Judgments
• Brand Performance
• Brand Imagery
• Brand Feelings
• Brand Resonance

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Brand Awareness Usage/Experience

• Spontaneous, aided awareness
• Usage state
• Established trial
• Next purchase ?
• Competition awareness

• Spontaneous associations
• Competitive set (usage, trial)
• Level of familiarity

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Brand Judgments

• Relative to Brand  Business Entity 
• Innovative ?
• Knowledgeable ?
• Trustworthy ?
• Likable ?
• Concern about customers ?
• Concerned about society ?
• Admirable ?
• Quality of management ?
• .

• Relative to Brand Offer
• Attitudes
• Satisfaction level, compared
• Recommend to others ?
• Value for money ?
• What is best sold by the brand ?
• What you like best ?
• What is different ? Superior, most satisfying vs
  others ?

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• Brand Performance
• Convenience
• Efficiency
• Quality
• All aspects of brand offer specific features,
  benefits, promises, positionnings ..

• Brand Imagery
• Admiration
• Respect
• Dowmn-to-earth
• Daring
• Up-to-date
• Reliable
• Successful
• Uuper class
• Charming
• Out-doorsy
• .

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• Brand Feelings
• Warmth ?
• Fun ?
• Excitement ?
• Security ?
• Social Approval/enhancement ?
• Self-respect ?
• .

• Brand Resonance
• Do you consider yourself as loyal ?
• Occasionaly .. To would do anything to buy ?
• Love ?
• Identification with users ?
• Connected to the Brand ?
• Recommend the Brand ?
• Interest in Brand achievments ?
• Proudness of using ?
• Follow news ?
• Go to website ?
• Own Stock ?

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How do brands work ?The car industry Cases

• Read articles The rôle of marque, How people buy,
  Reviving up Autoindustry New Brand of Brand
  Management
• Identify how, when, why, Brand/marque influences
  the decision-making process choice in the
  different segments/clusters
• Sort rational and emotional influences
• Apply to your brand
• Prepare presentation