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Chapter 3 : Brands Resonance and the Brand Value Chain - Coggle Diagram
Chapter 3 : Brands Resonance and the Brand Value Chain
3.1 Define brand resonance
3.2 Describe the steps in building brand resonance
Building a Strong Brand : 4 steps of brand building
2) Brand Performance
1)Describe how well the P/ Service
C. functional needs
ass. of quality
-& satisfies utilitarian, aesthetic & eco. C needs & wants)
2)Attributes & benefits often underlie B. Perf
-Primary ing. & supp. features
-P. Liability, durability & serviceability
-Service effectiv., effi, and emp.
-style & design
-$$
3)Brand Imagery
A main type of B. meaning is B.I
B.I depends on the extrinsic properties of a P/S
Many intangibles can be linked to a B
:check:User profiles
:check:Purchase & usage situations
:check:Personality & values
:check: His., herit, & user exp/
User imagery
-1 set of B.I asso. ~ type of person/ org who uses the B
-Demo fact inc:
:check:gender
:check:Age
:check:Race
:check:income
Purchase & usage.Img:
-Assoc. that tells C under what Condi./ situations they :check:/ should buy & use a B
B. Personality & Values:
-Through C. exp / mkt' act., B may take on personality traits / human value:
: :star:A Person
:star:Appear to be modern/ old-fashioned,
-5 dimensions of B. Personaliy
:star:sincerity
:star:Excitement
:star: Competence
:star:Sophistication
:star:ruggedness
4)Brand judgments
C personal opinions about & evaluations of a nrad- B. perf & Img assoc.
B.Quality( specific attributes & benefits of B-esp perceived quality)
B.Credibility: judg,abt the co/ org behind the B
:check:Perceived expertise
:check:Trusthowrthness
:check:likeability
B Considerations( C. srs considerations to purchase & extent to which strong & favor. B Ass. can be created
B Superiority (C view >B> Unique)
5)Brand Feelings
C. emotional resp/ & react > a B.
B. feel' relate > social currency evoked by the B
Feelings can be:
:check:Experiental & immediate, inreasing in lvl of intensity
:check:Pvt & enduring, increasing in lvl of gravity
6 important type of brand-building feelings:
1) Warmth
2) Fun
3)Excitement
4)Security
5)social approval
6) Self-respect
6) Brand Resonance
Ultimate r/s & lvl of identification that a C has with B
-Describe the nature of the r/s
-extent to which C feel in sync w/ B
-Charac. in term of intensity: Depth of the psychological bond that C have w/ B
4 categories of B.R:
:star:Behavioral loyalty
:star:Attitudinal attachment
:star:Sense of community
:star:Active engagement
1)B.L: repeat purchase & amt / share of category vol attributed to the B - Share of category req
2)A.A: R. req a strong personal attachment
beyond having a +ve att. - View' the B as something special
3)S.O.C: Social phenomenon in which C feel a kinship/ affliation w/ other ass. w/ B
4) B.E: strongest affirmation of B. Loyalty
Willing to invest time, energy, $$ & other resource beyond those expended during purchase/ Consump'.
• Brand-Building Implications
Mkter :check: assess B progress in their B-B effort through the B.R model:
6
– C. own the brand
– Don’t take shortcuts with B
– B. should have a duality
– B. should have richness
– B.R provides important focus
– C. networks strengthen B.R
1)Brand Salience
i)Achieving the right brand identity means creating brand
salience with customers
ii)-aspect of awareness
-Brand evoked under various situations/circumstances
iii)Breadth & depth of awareness
:give id. by linking B. Elements to
1)prod. category
2)The associated purchased
3)consumption / usage situations
iv)Prod. category structure( P. org in memory & grouped)
Beverage Category Hierarchy
v)Strategic implications: B. needs ~ top-of-mind & sufficient mind share (right times & places)
Step 1: Ensure C recognize the brand or specific products (
Brand identity
).“Who are you?”
Step 2: Use tangible and intangible brand elements to establish brand meaning in Cs’ minds (
Brand meaning
).“What are you?”
Step 3: Evoke customers’ feelings and opinions (
Brand responses
). “What do I think or feel about you?”
Step 4: Convert C’ responses into an intense, active, loyal relationship between customers and the brand (
Brand relationships
)., “How much of a connection would I like to have with you?”
6 brand Building Blocks :star:
Brand Resonance Pyramid
Subdimensions of B. Building Blocks
“Brand resonance refers to the nature of the
r/s
that Cs have with the B and the extent to which they feel that they are “
in synch
” with the Bs” (Keller, 2001) (Keller, 2008).
3.3 Define the brand value chain
Define : Structure approach to assess' the source & outcome of B equity & the manner by which mkt' activties create B.V
Brand Value Chain:
1)Mkting Prog investment: Any MPI that :check: contribute > B.V development (intentional/ :red_cross:)
2)Program Quality Multiplier:
DRIVE
▪ Distinctiveness
▪ Relevance
▪ Integrated
▪ Value
▪ Excellence
3)Customer Mind-set: inc. everything that exist in the mind of C w/ respect > B
▪ Brand awareness
▪ Brand associations
▪ Brand attitudes
▪ Brand attachment
▪ Brand activity
4)Mktplace conditions multiplier: Extent to which valye created depends on Factors beyond the indiv. C:
▪ Competitive superiority
▪ Channel and other intermediary support
▪ Customer size and profile
5) Mkt. performance:
– Price premiums
– Price elasticities
– Market share
– Brand expansion
– Cost structure; reduced marketing program expenditures
– Brand profitability
6)Investor sentiment multiplier: Financial analysts & investor arrive @ their B valuations & investment decisions ~
5 more items...
3.4 Identify the stages in the brand value chain
B.V.C - numerous implications:
– Value creation begins with the marketing program investment
– Value creation requires more than an initial marketing investment
– Band value chain provides a detailed road map for tracking value creation
3.5 Contrast brand equity and customer equity
While
C.E
emphasis on lower line financial value got from the C,
B.E
attempts toemphasis on strategic issues in managing brands.
C.E is less narrow alternative. It can overlook a brands optional value and their capacity effect revenues and cost beyond the present marketing environment.
C.E
can persist w/o
B.E
, brand equity may also exist w/o
C.E
. For instance I may have
positive attitude
towards brands - McDonald and Burger King, but I may only purchase from McDonald’s brand consistently.
https://www.managementstudyguide.com/brand-customer-equity.htm
