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Chapter 2 - Customer-Based Brand Equity (CBBE) and Brand Positioning -…
Chapter 2 - Customer-Based Brand Equity (CBBE) and Brand Positioning
Define CBBE
CBBE is the value of a brand based on what customers feel about and think of it.
CBBE shows the power of a customer's attitude towards a brand and how it can lead to the success or failure of a brand
Identify the Four Components of Brand Positioning
Target Market
Market Segmentation
Criteria
Identifiability
Size
Accessibility
Responsiveness
Nature of Competition
Competitive analysis considers an array fo factors
Marketers must consider indirect competition and multiple frames reference when choosing a market
Basic Concepts
Brand Positioning
Points-of-Parity (POPs) and Points-of-Difference (PODs)
POPs
Formally defined as attributes or benefits that consumers strongly associate with a brand
PODs
Not necessarily unique to the brand but may be shared with other brands
Sources & Outcomes of CBBE
Brand Awareness
Consists of brand recognition and brand recall performance
Advantages
Learning advantages
Consideration advantages
Choice advantages
Consumer purchase motivation
Consumer purchase ability
Consumer purchase opportunity
Brand Image
Consumer's perception of a brand based on previous interactions
Emphasized by marketers once a sufficient level of brand awareness is created
Creating a positive brand image takes marketing programs that link strong, favorable and unique associations to the brand in memory
Strength of brand associations
Stronger when a person thinks more deeply about product information and relates it to existing brand knowledge
Favorability of brand associations
Higher when a brand possesses relevant attributes and benefits that satisfy consumer needs and wants
Uniqueness of brand associations
Provide brands with sustainable competitive advantage
Brand Mantras and How They Should Be Developed
Brands may span multiple product categories and may
have multiple, distinct and related positionings
Marketers will want to craft a brand mantra that reflects the essential heart and soul of the brand
Captures the irrefutable essence or spirit of the brand
positioning
Short, three-to five-word phrase
Provides guidance about:
What products to introduce under the brand
What ad campaigns to run
Where and how the brand should be sold
Guidelines in Developing a Good Brand Positioning
Establishing Points-of-Parity and Points-of-Difference
Straddle Positions
Choosing Points-of-Difference
Updating Position Overtime
Defining and Communicating the Competitive Frame of Reference
Developing a Good Positioning