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Chapter 3: Brand Resonance & Brand Value Chain - Coggle Diagram
Chapter 3:
Brand Resonance & Brand Value Chain
1. 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 based on the depth of the psychological bond that customers have with a brand
Describes the nature of the relationship
Examples of brands with high resonance: Apple, eBay
Steps in brand building
Step 1: Who Are You? [Brand Identity] - SALIENCE
Brand salience measures various aspects of the awareness of the brand, and how easily and often the brand is evoked under various situations
Breadth and depth of awareness gives a product an identity by linking brand elements to:
The product category
The associated purchase
The consumption or usage situations
Achieving the right brand identity means creating brand salience with customers
Product category structure means how product categories are organized in memory
A strategic implication which brand need to be top-of-mind and has sufficient mind share but also must do so at the right time and place
Step 2: What Are You? [Brand Meaning] - PERFORMANCE
Brand performance describes how well the product or service:
Meets customers' more functional needs
Rate on objective assessments of quality
Satisfies utilitarian, aesthetic, and economic customer needs and wants in the product or service category
Attributes and benefits often underlie brand performance:
Primary ingredients and supplementary features
Product liability, durability, and serviceability
Service effectiveness, efficiency, and empathy
Style and design
Price
A main type of brand meaning is brand imagery, which depends on the extrinsic properties of a product or service
Brand personality and values are consumer experience and marketing practices link the brand to human personality traits. The five dimensions of these brand personalities are:
Sincerity
Competence
Ruggedness
Excitement
Sophistication
The four main intangibles are:
User profiles
Purchase and usage situations
Personality and values
History, heritage, and user experiences
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
Purchase and usage imagery is associations that tells customers under what conditions or situations they can or should buy and use a brand
Brand history, heritage and experiences:
Brands that take on associations that link to their past remarkable events in the brand's history fall under this type
Step 3: What About You? [Brand Response] - JUDGEMENT & FEELINGS
JUDGEMENT: Customer's personal opinions from brand judgements or responses. Consumers may take a variety of judgements with respect to a brand, but these four types are especially important:
Brand Quality: Matching product performance with customer expectation
Brand Credibility: The extent to which customers see the brand as credible, trustworthy, likable and judge its level of expertise
Brand Consideration: Until customers register the brand as relevant and convenient, the brand will not likely be embraced
Brand Superiority: The extent to which buyers view the brand as different and unique from others
FEELINGS: Customer's emotional responses and reactions to the brand make the brand respond. The response could be a sense of mild or intense feelings, be it positive or negative in nature
Warmth: Evoking a soothing type of feeling that makes customers feel a sense of calm or peacefulness
Fun: Exciting types of feelings make the customers feel happy, cheerful, merry, and so on
Excitement: Makes the customers feel hyped and energized giving a sense of special feeling
Security: The brand ensures a feeling of comfort, security and confidence
Social approval: Consumers have a belief that others look positively on their appearance, behavior, and so on after the use of their product
Self-respect: The brand boosts consumer's self-esteem and makes them feel a sense of satisfaction, accomplishment, or fulfillment
Step 4: What About You & Me? [Relationship] - RESONANCE
The degree to which consumers believe that they connect the brand and are "in sync" with it. Brand resonance can be further broken into 4 catgeories:
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, e.g. share of category requirements
Active engagement: Willing to invest time, energy, money or other resources beyond those expended during purchase or consumption
Attitudinal attachment: Going beyond having a positive attitude, e.g. viewing the brand as something special
2. Brand Value Chain
A structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value
Value creation begins with the marketing program invesment
Value creation requires more than an initial marketing investment
Brand value chain provides a detailed road map for tracking value creation
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, such as:
Brand awareness
Brand associations
Brand attitudes
Brand attachment
Brand activity
Marketplace conditions multiplier
is an extent to which value created depends on factors beyond the individual customer:
Competitive superiority
Channel and other intermediary support
Customer size and profile
Market performance:
Price premiums
Price elasticities
Market share
Brand expansion
Cost structure - reduced marketing program expenditures
Brand profitability
Investor sentiment multiplier
is when financial analysts and investors arrive at their brand valuations and investment decisions through the following:
Market dynamics
Growth potential
Risk profile
Brand contribution
Shareholder value:
Financial marketplace formulates opinions and assessments
Direct financial implications for brand value