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Chapter 3: Brand Resonance and The Brand Value Chain [Created by Syefa…
Chapter 3: Brand Resonance and The Brand Value Chain
[Created by Syefa Hayati]
Building a strong brand: The four steps of brand building
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Brand salience :star:
Measures various aspects of the awareness of the brand and is how the brand is easily evoked under various situations or circumstances
Gives a product an identity by linking brand elements to: (1) product category, (2) associated purchase and (3) the consumption or usage situations
How the product is categorized? by memory and sometimes marketers assume that products are grouped
Strategic implications: brands need to be top-of-mind and have sufficient mind share but also must do so at the right times and places
2.1 Brand performance :star:
Describes how well the product or service meets customers' more function needs, rate on objective assessments of quality, and satisfies utilitarian, aesthetic, and economic customer needs and wants in the product or service category
Attributed and benefits often underlie brand performance, such as primary ingredients, supplementary features, product liability, durability, serviceability, service effectiveness, efficiency, empathy, style, design, and price.
2.2 Brand imagery :star:
Brand imagery depends on the extrinsic properties of a product or service
Many kinds of intangibles can be linked to a brand; the four main ones are: (1) user profiles (2) purchase and usage situations (3) personality and values (4) history, heritage, and user experiences
Purchase and usage situations
; associations that tells consumers under what conditions or situations they can or should buy or use a brand
Personality and values
; through consumer experience or marketing activities, brands may take on personality traits or human values: a person and appear to be modern or old-fashioned. Five dimensions of brand personality: (1) Sincerity (2) Excitement (3) Competence (4) Sophistication (5) Ruggedness
User profiles
; one set of brand imagery associations is about the type of person or organization who uses the brand. Demographic factors include: gender, age, race and income
History, heritage, and user experiences
; brands may take on associations to their past and certain noteworthy events in the brand's history
3.1 Brand judgments :star:
Customers' personal opinions and evaluations of a brand; consumers form judgements by putting together all the different brand performance and imagery associations
Brand quality: defined by specific attributes and benefits of a brand, and consumers can hold a host of attitudes towards a brand – but the most important relate to its perceived quality and perceived quality measures are inherent in many approaches to brand equity
Brand credibility: judgements about the company or organization behind the brand, which often defined by perceived expertise, trustworthiness and likability
Brand considerations: unless a consumer gives serious consideration to purchase, how highly they regard the brand is of little importance and 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
3.2 Brand feelings :star:
Customers' emotional responses and reactions to a brand
Brand feelings relate to the social currency evoked by the brand
Feelings can be experiential and immediate, increasing in level of intensity, and private and enduring, increasing in level of gravity
Six important types of brand-building feelings: 1) warmth 2) fun 3) excitement 4) security 5) social approval 6) self-respect
Brand resonance :star:
Ultimate relationship and level of identification that a customer has with a brand: describes the nature of the relationship, extent to which customers feel in sync with the brand and characterized in terms of intensity; depth of the psychological bond that customers have with a brand
Four categories of brand resonance: (1) Behavioral loyalty (2) Attitudinal attachment (3) Sense of community (4) Active engagement
Behavioral loyalty
; repeat purchases and the amount or share of category volume attributed to the brand: share of category requirements
Attitudinal attachment
; resonance requires a strong personal attachment and going beyond having a positive attitude such as viewing the brand as something special
Sense of community
; brand may take on a broader meaning by conveying a sense of community and social phenomenon in which customers feel a kinship or affiliation with others associated with the brand
Active engagement
; the strongest affirmation of brand loyalty where consumers are willing to invest time, energy, money or other resources beyond those expended during purchase of consumption
Brand resonance model
The implications of brand-building
Marketers can assess their brand's progress in their brand-building efforts through the brand resonance model
Customers own the brand, don't take shortcuts with brands, brands should have a duality, brands should have richness, brand resonance provides important focus and customer networks strengthen brand resonance
The brand value chain
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Brand value chain
Marketing program investment :<3:
Any marketing program investment that can contribute to brand value development, either intentionally or not
Product, communications, trade, employee and other
Program quality multiplier :<3:
Drives by distinctiveness, relevance, integrated, value and excellence
Customer mind-set :<3:
Includes everything that exists in the minds of customers with respect to a brand
Brand awareness, brand associations, brand attitudes, brand attachment and brand activity
Marketplace conditions multiplier :<3:
Extent to which value created depends on factors beyond the individual customer
Competitive superiority, channel and other intermediary support, and customer size and profile
Market performance :<3:
Price premiums, price elasticity, market share, brand expansion, cost structure; reduced marketing program expenditures and brand profitability
Investor sentiment multiplier :<3:
Financial analysts and investors arrive at their brand valuations and investment decisions
Through market dynamics, growth potential, risk profile and brand contribution
Shareholder value :<3:
Financial marketplace formulates opinions and assessments
Direct financial implications for brand value
The implications of brand value chain
Value creation requires more than an initial marketing investment
Band value chain provides a detailed road map for tracking value creation
Value creation begins with the marketing program investment
