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Chapter 11: Creating Brand Equity, Brand Equity starbs (Build (choose…
Chapter 11: Creating Brand Equity
Brand Equity
positive brand association resulting in increased revenue
positive/negative value assigned to products and services by consumers
change in consumer response as a result of brand knowledge
Manage
Reinforce
Revitalize
Back to basics
Reinvention
Build
choose brand elements
memorable
meaningful
likable
Transferrable
Adaptable
Protectable
develop brand elements
link the brand
person
place
things
idea (other brands
Measure
Brand audits
Brand tracking studies
Branding Strategies
Extensions
Pros: positive association
Cons: potential for brand dilution and cannibalism
New
Mixed
Brand
noun
sets expectations for both consumers and firms
Branding
verb
creates POD's
perceptual
Internal Branding
