Customer Based Brand Equity
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Brand Management, Description of the CBBE Framework
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Customer Based Brand Equity
- 2. CBBE Differential effect that brand knowledge has on customer response CBBE is positive when customers react favorably CBBE is negative when customers react less favorably
- 3. Key Ingredients Differential effect Brand knowledge Consumer response
- 4. Associative Network Memory Model Associative Network Memory Model Nodes- represent information or concepts Links- represents the strength between 2 nodes
- 5. Sources of Brand Equity CBBE occurs when a customer has a high level of 1. Brand awareness 2. Brand familiarity 3. Has strong brand associations
- 6. Brand Knowledge = Brand awareness + Brand Image Brand Awareness- ability to identify the brand under various circumstances Brand Image- consumer’s perceptions about a particular brand
- 8. Brand Awareness Brand Recognition- prior exposure to the brand given the brand as cue Brand Recall – retrieve from memory when given the product category/purchase situation/ usage situation
- 9. Brand Awareness Benefits Learning Consideration Choice
- 12. Brand Image Image- linked mainly to brand associations Building them up – Brand attributes-------------Desirability Brand Benefits--------------Deliverability
- 13. Four Steps of Brand Building -Branding Ladder Brand Identification Brand Meaning Consumer Response Brand Relationship -Who are you ? -What are you ? -What I feel about you ? -What about you & me ?
- 14. OBJECTIVES STAGES Intense, active loyalty Positive, accessible reactions Points of Parity & Diff Deep brand awareness
- 15. Brand Salience Achieving the right identity Measures the level of brand awareness Brand Salience is the fundamental block- necessary, but not sufficient High salience- a brand having both breadth & depth
- 16. Brand Salience Breadth(range of purchase/usage situations) & Depth(likelihood of coming to mind) Product Category (product class-category-type-brand) Strategic Implications
- 17. Brand Performance Whether the product/service meets the consumer’s needs or not 5 Attributes: • Primary ingredients & supplementary features • Product- reliability, durability, serviceability • Service- effectiveness, efficiency, empathy • Style & Design • Price
- 18. Brand Imagery The way consumers think about a brand Imagery Associations are formed via experience or advertising Maggi
- 19. Brand Imagery Imagery based on demographics(gender-age-race-income) Conditions or Situations wherein the brand should be bought/used(Snickers -Real Juice- Dominos) Personality of a Brand (Red Bull Girls-Beer Shampoo-Vodafone Pug to ZooZoo) Associations emanate from personal experiences
- 20. Brand Judgments Consumer opinions about a brand Brand Quality Brand Credibility Brand Consideration Brand Superiority
- 21. Brand Feelings Emotional response and reaction to a brand Feelings evoked by the marketing program E.g- Katrina – Slice and Choc-on Ads
- 22. Brand Feelings Warmth (Vicks Vaporub) Fun (Disney, Imagica) Excitement (Mountain Dew) Security (Insurance Ads) Social Approval (NIIT, Luxury Brands,Contraceptives) Self-Respect (Dettol, Oral-B, Voter Registration)
- 23. Brand Resonance Level of relationship & identity with the brand • Behavioral Loyalty • Attitudinal Attachment • Sense of community • Active Engagement
- 24. Creating Customer Equity High Value Customer First Product Mgmt to Customer Focused Mgmt Add-ons & Cross selling Reduce Customer Acquisition Costs Track Marketing Programs Relate branding to customer equity Monitor retention of customers Separate Marketing Plans
- 25. Relating Customer Equity to Brand Equity Customers drive the success of a brand Brand are the links between the customer and the firm Value is created due to differential customer response to marketing activities Price premiums and brand loyalty generate cash flows for the firms Brand Equity- emphasis on front end marketing - intangible value Customer Equity-emphasis on back end marketing - revenues