Customer-based equity and brand positioning (chapter 2) презентация

a brand lies in what customers have learned, felt, seen, heard about the brand as a result of their experiences over time.
Approaches brand equity from the perspective of the consumer
Stresses that the power of a brand lies in what resides in the minds and hearts of customers

and micro perspectives to the managers.

These models are like matryoshka dolls. They are interconnected with each other.

Brand Positioning model (How to establish and maximize Competitive Advantage in the minds of customers)
Brand Resonance model (How to create intense and actively loyal customers; Customer Loyalty)
Brand Value Chain model (How to trace the value creation process to better understand the Financial Impact of marketing expenditures and investments)

a price premium isn’t just accepted, it’s expected.

the differential effect that brand knowledge has on consumer response to the marketing of that brand.

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”

2 tricky words: identify and differentiate

effect that drives brand equity
Marketers need an insightful way to represent how brand knowledge exists in consumer memory

and connecting links
Nodes - Represent stored information or concepts
Links - Represent the strength of association between the nodes
Brand associations are informational nodes linked to the brand node in memory

conditions; it is the familiarity of the brand to the consumer

Consumers’s perceptions about the brand

brand node or trace in memory.
Brand recognition: Consumers’ ability to confirm prior exposure to the brand when given the brand as a cue.
(example: watching the battery ad on TV, buy it the other day on the supermarket)
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.
(example: when I talk premium cars or when I talk fast food)

i.e. brand awareness
Create positive brand image though brand associations that are strong, favorable, and unique

conventional advertising. Strong associations
to personal care and environmental concern through products (natural ingredients, no parabens, no animal testing, packaging (simple refillable rcycled), merchandising (brochures, displays), supply policy (working with local producers), PR (visible and outspoken), CSR (requiring each franchisee to run a local program), etc.

and image so that it occupies a distinct and valued place in the target customers’ minds
Finding the proper “location” in the minds of consumers or market segment
Allows consumers to think about a product or service in the “right” perspective

(ultimate driving machine)
VW ( das auto)
Axe ad:
https://www.youtube.com/watch?v=OHCRWfV1q5A

groups of homogeneous consumers who have similar needs and consumer behavior

For axe, it is ordinary, young 15-40 males.

a frame of reference (identifying the target market and the nature of competition)
BMW: ???
Who the target consumer is?
Who the main competitors are?
How the brand is similar to those competitors?
How the brand is different from them?

that consumers strongly associate with a brand, positively evaluate, and believe that:
They cannot be found to the same extent with a competitive brand.
Points-of-parity associations: Attributes shared with other brands.
Points-of-parity versus points-of-difference: Unless certain points-of-parity can be achieved to overcome potential weaknesses, points-of-difference may not even matter. Example: BMW vs Mercedes crash safety ratings. Points-of-parity are easier to achieve than points-of-differences. People should believe the brand is good enough.

customers
Analyze the type of competition they might face in the identified market base
Identify product features and associations that are different or similar to their competitors

compete against a specified set of competitors
A good product positioning should:
Have a “foot in the present” and a “foot in the future”
Identify all relevant points-of-parity
Reflect a consumer point of view in terms of the benefits that consumers derive
Contain points-of-difference and points-of-parity that appeal both to the “head” and the “heart”

irrefutable essence or spirit of the brand positioning.
Provides guidance about:
What products to introduce under the brand.
What ad campaigns to run.
Where and how the brand should be sold.

Disney’ mantra: Fun Family Entertainment
Nike’s mantra: Authentic Athletic Performance

business to set the brand boundaries and clarify what is unique about the brand
Be simple, crisp, and vivid
Stake out ground that is personally meaningful and relevant to as many employees as possible