A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller

or group of sellers and to differentiate them from those of competitors Brand Equity The amount power and value the brand has in the market place is called the Brand Equity

Brand Value Chain Stage 1 Stage 2 Stage 3 Stage 4

Marketing Programs Customer Mindset market performance Shareholders Value

Program Qty Multiplier Customer Multiplier Market Multiplier

CBBEThe differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand knowledge is the key to creating brand equity. Brand Knowledge Brand knowledge consists of a brand node in memory with a variety of associations linked to it. Brand knowledge has two components: Brand Awareness & Brand Image i. Brand Awareness- Brand Recognition and Brand Recall (RR) ii. Brand Image - Strong, favorable, and unique brand associations CBBE MODEL Salience Dimension-Depth of brand awareness is the ease of recognition and recall and Strength and clarity of category membership. -Breadth of brand awareness is purchase consideration and Consumption consideration Performance Dimension - Primary characteristics and supplementary features; Product reliability, durability, and serviceability; Service effectiveness, efficiency, and empathy ; Style and design ; Price. Imagery Dimensions- User profiles; Purchase and usage situations; Personality and values; History, heritage, and experiences Judgment Dimensions- Brand quality, Brand credibility, Brand consideration, Relevance, Brand superiority Feelings Dimensions- like warmth, fun, excitement, security, social approval, self respect.

Resonance Dimensions- behavioral loyalty, attitudinal attachment, sense of community and active engagement
SPJ FIR- Consumer Based brand Equity Model

--------------------------------------------------X-------------------------------------------------------------Customer Equity - The sum of lifetime values of all customers. Customer lifetime value (CLV) is affected by revenue and by the cost of customer acquisition, retention, and cross-selling. It consists of three components: - Value Equity, Brand Equity, and Relationship Equity. Brand Positioning- the act of designing the companys offer and image so that it occupies a distinct and valued place in the target customers minds. Points-of-difference (PODs) are attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand. UNIQUE ASSOCIATIONS WITH A BRAND Points-of-parity associations (POPs), on the other hand, are not necessarily unique to the brand but may in fact be shared with other brands. SHARED ASSOCIATIONS WITH A BRAND POPs / PODs should be personally relevant, distinctive, believable (RDB), feasible, profitable and preemptive (difficult to attack) {FPP} Core brand values- Set of abstract concepts or phrases that characterize the five to ten most important dimensions of the mental map of a brand , relate to points-of-parity and points-ofdifference. Mental Map (POP & POD) Core brand values Brand Mantra Brand Mantra - Short three- to five-word phrases that capture the irrefutable essence or spirit of the brand positioning and brand values Brand functions- The term brand functions describe the nature of the product or service or the type of experiences or benefits the brand provides. The descriptive modifier further clarifies its nature. The emotional modifier provides another qualifierhow exactly does the brand provide benefits, and in what way? Internal Branding - Members of the organization are properly aligned with the brand and what it represents. Externally, consumer-focused assessment

Brand Audit- A comprehensive examination of a brand involving activities to assess the health of the brand, uncover its sources of equity, and suggest ways to improve and leverage that equity. It includes brand vision, mission, promise, values, position, personality, and performance Brand audit involves brand inventory and brand exploration Brand Inventory- A current comprehensive profile of how all the products and services sold by a company are branded and marketed: Brand elements Supporting marketing programs Profile of competitive brands POPs and PODs Brand Mantra Brand exploration- Provides detailed information as to how consumers perceive the brand: Awareness Favorability Uniqueness of associations Helps identify sources of customer-based brand equity and Uncovers knowledge structures for the core brand as well as its competitors Criteria for choosing a brand - Memorability, Meaningfulness, Likability, Transferability, Adaptability and Protectability. URLs, Logos and symbols, characters,slogans classic slogans ,Jingles and packaging. The entire set of brand elements makes up the brand identity, the contribution of all brand elements to awareness and image. The cohesiveness of the brand identity depends on the extent to which the brand elements are consistent Relationship Physique
Personality (Ruggedness, Sophisticated, Competence, Excitement or Sincerity Culture

Brand Identity Prism

Reflection

Self-Image

Experiential marketing- Focuses on customer experience, Focuses on the consumption situation, Views customers as rational and emotional element and Uses electric methods and tools. One-on-one marketing- Treat different consumers differently. Each consumer has Different needs and Different values to firm. One on one marketing says that Devote more marketing effort on most valuable consumers (and customers) IdentifyDifferentiateInteractCustomizeBrand the Relationship Permission Marketing - Encourages consumers to participate in a long-term interactive marketing campaign in which they are rewarded in some way for paying attention to increasingly relevant messages. Marketing communications are the means by which firms attempt to inform, persuade, and remind consumersdirectly or indirectlyabout the brands they sell.

Brand Value chain- The brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value

Brand Equity measurement- A set of research procedures that is designed to provide timely, accurate, and actionable information for marketers so that they can make the best possible tactical decisions in the short run and strategic decisions in the long run A brand equity management system is a set of organizational processes designed to improve the understanding and use of the brand equity concept within a firm: Brand equity charter- Provides general guidelines to marketing managers within the company as well as key marketing partners outside the company Brand equity report- Assembles the results of the tracking survey and other relevant performance measures Brand equity responsibilities- Organizational responsibilities and processes that aim to maximize long-term brand equity Brand personality refers to the human characteristics or traits that can be attributed to a brand The Big Five Sincerity (down-to-earth, wholesome, and cheerful) TATA

 Excitement (daring, spirited, imaginative, and up-to-date) Thumps-Up Competence (reliable, intelligent, and successful) feature/attribute based electronic goods - SONY Sophistication (upper class and charming)- luxury goods- MERCEDES, BENTLEY Ruggedness (outdoorsy and tough)- jeans, sports Quantitative research techniques- awareness, image, brand responses, brand relationships BRAND ASSET VALUATOR- BAV 4 primary aspects- Knowledge; Esteem; Relevance; Differentiation D>R Vs R>DCommodity E>Klike to know more Vs K>ENothing Spl. Branding strategies the firm can help consumers understand its products and services and organize them in their minds. Two important strategic tools: The brand-product matrix and the brand hierarchy help to characterize and formulate branding strategies by defining various relationships among brands and products. The branding strategy /architecture for a firm reflects the number and nature of common or distinctive brand elements applied to the different products sold by the firm. Role of Brand Architecture Clarify: brand awareness Motivate: brand image Product line- A group of products within a product category that are closely related Product mix (product assortment) - The set of all product lines and items that a particular seller makes available to buyers Brand mix (brand assortment) - The set of all brand lines that a particular seller makes available to buyers Brand Hierarchy- A means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firms products, revealing the explicit ordering of brand elements.

Brand extension classification Line extension Using a sub-brand to target a new market segment within the same product category- like wheel n surf excel- flanking brands Category extension- ponds cream n ponds talk Using the parent brand in a different product category Brand revitalization Injecting life into the same brand- energizing a mature brand. With change in consumer, taste, needs, mindsets, culture etc. the brand also has to change- therefore, change in shape of bottles, packaging, cent, perfume, feel etc help revitalizing the brand. Eg LUX, TIDE, IVORY, LAKME MOISTURSERS etc. Can also be a solution: Stretch Up or Stretch Down Seven deadly sins of brand Management 1. Failure to understand the full meaning of the brand 2. Failure to live up to the brand promise 3. Failure to adequately support the brand 4. Failure to be patient with the brand 5. Failure to adequately control the brand 6. Failure to properly balance consistency and change with the brand 7. Failure to understand complexity of brand equity measurement and management