This document discusses key aspects of brand equity including brand loyalty, brand awareness, perceived quality, and brand associations. It defines each element and provides examples. Brand loyalty refers to customer attachment and likelihood to switch brands. Brand awareness deals with a customer's ability to recognize or recall a brand. Perceived quality is a customer's view of a brand's quality relative to alternatives. Brand associations are anything linked to a brand in a customer's memory. The document emphasizes how these elements create value for brands and should be enhanced through marketing strategies.
2. 2visit: www.studyMarketing.org
You can download this presentation at:
www.studyMarketing.org
Visit www.studyMarketing.org for more
presentations on Marketing, Strategy,
Innovation, and Branding
5. 5visit: www.studyMarketing.org
Brand LoyaltyBrand Loyalty
Brand loyalty is a measure of the
attachment that a customer has to a
brand.
It reflects how likely a customer will be to
switch to another brand, especially when that
brand makes a change, either in price or in
product features.
6. 6visit: www.studyMarketing.org
Brand Loyalty PyramidBrand Loyalty Pyramid
Committed Buyer
Likes the Brand - Considers it a Friend
Satisfied Buyer With Switching Costs
Habitual Buyer - No Reason to Change
Indifferent – No Brand Loyalty
Switchers / Price Sensitive
12. 12visit: www.studyMarketing.org
Value of Brand Awareness
• Anchor to which other associations can be
attached
• Familiarity and liking
• Signal of substance/commitment
• Brand to be considered
13. 13visit: www.studyMarketing.org
How to Achieve
Brand Awareness
Be different, memorable
Involve a slogan or jingle
Symbol exposure
Publicity
Event sponsorship
14. 14visit: www.studyMarketing.org
The customer's perception of the overall
quality or superiority of a product or service
with respect to its intended purpose, relative to
alternatives. Perceived quality is a perception
by customers.
Perceived Quality
17. 17visit: www.studyMarketing.org
The Value of Perceived Quality
• Reason-to-Buy
• Differentiate/Position
• A Price Premium
• Channel Member Interest
• Brand Extensions
18. 18visit: www.studyMarketing.org
Brand AssociationBrand Association
A brand association is anything
"linked" in memory to a brand.
Thus, McDonald's could be linked to a
character such as Ronald McDonald, a
consumer segment such as kids, a feeling
such as having fun, a product characteristic
such as service, or a symbol such as the
Golden Arches.
20. 20visit: www.studyMarketing.org
The Value of Brand
Associations
• Help Process/Retrieve
Information
• Differentiate/Position
• Reason-to-Buy
• Create Positive
Attitudes/Feelings
• Basis for Extensions
22. 22visit: www.studyMarketing.org
Criteria forCriteria for
Brand Name SelectionBrand Name Selection
• Be easy to learn and remember
• Suggest the product class
• Support a symbol or slogan
• Suggest desired association without
being boring or trivial
• Not suggest undesired associations
• Be distinctive
• Be available and protectable legally