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Brand Equity & Equity Pyramid (6 Steps to write a brand equity pyramid…
Brand Equity & Equity Pyramid
3 basic questions about brand
1) what is a brand
Brands are products with a reputation.
Brands are products with a decisive collection of associations that make it recognizable, distinctive, and desirable.
why is brand building important for company?
Drive long term growth
Gain profitability
What is brand building for?
Brand Building = Build Brand Equity
Build brand equity to build (grow)
1. Brand awareness
2. Brand association
3. Brand loyalty
Brand Equity Pyramid
is foundation building block for brand’s success
https://drive.google.com/open?id=0B1McgpuoSExFa2hDU1g1M1Vidms
6 Steps to write a brand equity pyramid
1) write down 6~12 core essential elements
2) make strategic choices: remove non core one, keep only 3~5 as core
3) make choices: Identify element as PODs and POPs, choice top 3, and also prototypical top 1
1) POD is not always a must to win consumer TRUST, POP sometimes is good enough
2) POP can also be prototypical benefit
0) search, official website, video, to understand the foundation of brand and iconic assets
4) Articulate Brand Purpose and prototypical benefit of a brand
5) put the rest of POD/ POP as essential PODs
6) identify iconic assets and also character
