Please enable JavaScript.
Coggle requires JavaScript to display documents.
CH3: BRAND RESONANCE & BRAND VALUE CHAIN - Coggle Diagram
CH3: BRAND RESONANCE & BRAND VALUE CHAIN
BRAND BUILDING
Judgements
Feelings
Imagery
Performance
Brand-building implications
Salience
Resonance
4 STEPS in building resonance
Response
Meaning
Relationships
Identity
BRAND SALIENCE
Achieving right brand identity = creating salience with customers
Measures various aspects of brand awareness
How easily and often brand is evoked under various situations
Gives product an identity by linking brand elements to:
Product category
Associated purchase
Consumption or usage situations
Marketers assume products are grouped
Product category structure=how product categories are organized in memory
Brand needs to be top of mind and have sufficient mind share but at the right time and places
BRAND PERFORMANCE
Describes how well product/service:
Rate on objective assessment of quality
Satisfies utilitarian, aesthetic and economic customer needs and wants in the product/service category
Meet customers' more functional needs
Attribute and benefits underlying performance
Price
Style and design
Service effectiveness, efficiency, empathy
Product liability, durability, serviceability
Primary ingredients and supplementary features
BRAND IMAGERY
Depends on extrinsic properties of product/service
Intangibles that can be linked to a brand
Purchase and usage situations
Personality and values
History, heritage, user experiences
User profiles
User imagery
Demographic factors
Race
Income
Age
Gender
One set of brand imagery associations is about the type of person/org who uses the brand
Purchase and usage imagery
Associations that tells consumers under what conditions or
situations they can or should buy and use a brand
Through consumer experience or marketing activities, brands may take on personality traits/human values: A person or appear to be modern/old fashioned i.e
5 dimensions of brand personality
Excitement
Competence
Sincerity
Sophistication
Ruggedness
Brands may take on associations to the past, certain noteworthy events in the brand's history
BRAND JUDGEMENTS
Customer's personal opinions/evaluations of a brand formed by putting together all the
different brand performance and imagery associations
Brand quality is defined by specific attributes of a brand
Consumers can hold a host of attitudes toward a brand but the most important relate to its perceived quality (Perceived quality measures are inherent in many
approaches to brand equity)
Brand credibility are judgements about the company or organization behind
the brand
Often defined by perceived expertise, trustworthiness, likability
Brand consideration: how highly customers regard a brand is less important unless they give serious consideration to purchase
Depends on the extent to which strong and favorable
brand associations can be created
Brand superiority measures extent to which customers view the brand as
unique and better than other brands
BRAND FEELINGS
Customers’ emotional responses and reactions to a brand
relate to the social currency evoked by the
brand
Feelings can be
Private and enduring, increasing in level of gravity
Experiential and immediate, increasing in level of
intensity
6 types of brand-building feelings
Warmth
Fun
Excitement
Security
Social approval
Self-respect
BRAND RESONANCE
Ultimate relationship and level of identification that a customer
has with a brand
Extent to which customers feel in sync with the brand
Characterized in terms of intensity ( Depth of the psychological bond that customers have
with a brand)
Describes the nature of the relationship
4 categories of brand resonance
Attitudinal attachment
Resonance requires a strong personal attachment
Going beyond having a positive attitude (viewing the brand as something special)
Sense of community
Brand may take on a broader meaning by conveying a
sense of community
Social phenomenon in which customers feel a kinship
or affiliation with others associated with the brand
Behavioral loyalty
Repeat purchases and the amount or share of
category volume attributed to the brand
Active engagement
the strongest affirmation of brand loyalty
Willing to invest time, energy, money, or other resources beyond expended during purchase or consumption
BRAND BUILDING IMPLICATIONS
Marketers can assess their brand’s progress in their brand building efforts through brand resonance model
Brands should have a duality
Brands should have richness
Don’t take shortcuts with brands
Brand resonance provides important focus
Customers own the brand
Customer networks strengthen brand resonance
BRAND VALUE CHAIN
Structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value
Brand value stages
Marketing program investment
Any marketing program investment that can contribute to
brand value development (intentional or not)
Program quality multiplier (DRIVE)
Distinctiveness
Relevance
Integrated
Value
Excellence
Customer mindset
includes everything that exists in the minds of
customers with respect to brand
Brand awareness
Brand associations
Brand attitude
Brand attachments
Brand activity
Marketplace conditions multiplier
Extent to which value created depends on factors
beyond the individual customer
Competitive superiority
Channel and other intermediary support
Customer size and profile
Investor sentiment multiplier
Financial analysts and investors arrive at their brand
valuations and investment decisions through the following
Growth potential
Risk profile
Market dynamics
Brand recognition
Market performance
Price premiums
Price elasticities
Market share
Brand expansion
Cost structure; reduced marketing program expenditures
Brand profitability
Shareholder value
Financial marketplace formulates opinions and
assessments
Direct financial implications for brand value
IMPLICATIONS
Value creation requires more than an initial marketing
investment
BRand value chain provides a detailed road map for
tracking value creation
Value creation begins with the marketing program
investment