Multiple concept and channels
Brand managers of market-savvy companies need
•Superior insight into customer needs
•Ability to devise product/services that powerfully meet those needs
•Agility to redefine its offering as those needs change
•Creativity to produce exciting and compelling advertising
Tangibles of brand equity
•Shape
•Colour
•Size
•Models
•Price
•Features
•Benefits
Intangibles of brand equity
•Company name
•Brand name
•Slogan and its underlying associations
•Perceived quality
•Brand awareness
•Customer base
•Trademarks and patents
•Channel relationships
•Customer loyalty
•Customer confidence
•Competitive advantage
Value Proposition
•Broad positioning
•Specific positioning
•Value positioning
Creating the brand
•Choosing brand name
•Developing rich associations and promises
•Manage customer brand contacts to meet and exceed customer expectations
Positioning guards
•Should not be over-positioned
•Should not be under-positioned
•Should not be ambiguous
•Should not promise irrelevant benefits
•Promise should be credible
Brand names should denote
•Product benefits
•Product quality
•Be easy to pronounce/remember/recognize
•Be distinctive
•Not have poor meanings in other countries or languages
Brand Ambassadors
These are used to create the Brand personality, just like a human being. Therefore in some way the values and personality of the ambassador rubs off into the brand. Therfore the brand and choice of the ambassador must fit.
Brand Vitality
•Differentiation in consumer’s mind
•Differentiation relevant to consumer’s need
Brand Pitfalls
•Brand experience must match brand image
•Calls for managing every brand contact
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