An overview of brand equity, how to become a stronger brand and marketing tips that'll make your life easier. Whether you're a company looking for advice or a student studying brand management, this presentation'll break down branding in a simple and easy way. Enjoy! Please message me with any questions.
3. What Makes A Brand Strong?
Brand Equity
n.
all of the distinguishing qualities of a commercial brand that results in personal
commitment to and demand for the brand; the intangible value-added aspect of
particular goods otherwise not considered unique; also, the value built up in a brand, either positi
ve or negative
4. Elements of Brand Equity
Loyalty
Awareness
Quality
Associatio
ns
Other
Assets
6. Brand Loyalty
Positive attitude towards brand which is exhibited
through behavior and repurchasing
Commitment to brand – customers turn into
ambassadors through word of mouth
Lower sensitivity to price
7. How to increase loyalty?
Rewards Programs
Encourage loyalty
Repeat purchases
Build trust and connect
Blogs, build community, behind-the-scenes
http://www.stonyfield.com/blog/
8. Brand Awareness
Brand Awareness = Brand recall + brand
recognition
Brand recognition
Based off of name or logo, do you recognize these
brands?
Brand recall
- ex. Name all the companies you know in the office supply
When prompted with a product/service category, what
category
companies will you name?
9. How to increase awareness?
Traditional Advertising
Social Media
Radio ads, TV ads, PPC ads, Direct Mail, Print
ads, Outdoor Banners
YouTube, Twitter, Facebook, Instagram
Promotional Products
Custom shirts, custom mugs, custom pens
10. Perceived Quality
The key word here is perceived
If Product A is better than Product B in all technical
categories but customers perceive Product B as being
superior – that’s all that matters
Measured through customer satisfaction
surveys, industry reports
Perceived quality should be in line with price
It’s all about value
Low quality but very low price is still good value
11. How to change perception?
Market industry reports that highlight your company
Invest in Research and Development
Make sure customers know about your quality in
comparison to competition
If product is not up to par, you need to invest in your
process and improve
Lower price
If your product is of average quality but priced too
high, the perceived value will be low. If the product is
average but the price is lower than the rest of the
market, customers will see value.
12. Brand Associations
Attributes that customer associates with brand
Price
Quality
Personality
Logo
Advertisements
Endorsements
Word of Mouth
Employees
Positive associations obstructs competitor’s entry to
the market because products are replicable but
associations are not
NOT JUST PRODUCT OR SERVICE
13. Other Brand Assets
Assets that act as barrier to entry for competition
Patents, Trademarks, and Channels
Property, physical stores, outlets
Website, Social media account, Online presence
14. Things to remember
A strong brand creates an emotional connection with
consumer
A company should be more than just a product or a
service
A product or service can be replicated by any competitor.
An emotional connection cannot be replicated.
Branding needs to be a focus and consistent across
all channels of the company
Inconsistent branding leads to confusion for customers
and employees
Graphics should present the same vibe as customer
service rep does
15. Any questions?
Feel free to email michaelgr@shoplet.com with any
branding or marketing questions
This marketing series has been presented
by Shoplet Promos