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Choosing brand elements to build brand equity - Coggle Diagram
Choosing brand elements to build brand equity
Criteria
Memorability: Easily recognized and easily recalled
Meaningfulness: Descriptive and persuasive
Likability: Fun and interesting, aesthetically pleasing
Transferability: Within and across product categories, across geographic boundaries and cultures
Adaptability: Flexible and updatable
Product-ability: Legally and competitively
Options and tactics for brand names: What would an ideal brand element be like:
Easily remembered
Highly suggestive of product class and benefits
Inherently fun or interesting
Brand names
Fundamentally important: Often captures central theme of a product in a compact, economical fashion
Most difficult element for marketers to change: Closely tied to product in minds of consumers
Selecting brand name for a new product is an art and science
Must be chosen with 6 general criteria in mind: Memorability, meaningfulness, likability, transferability, adaptability, protect-ability
Can reinforce important attribute associated that makes up its product positioning - Descriptive brand name should make it easier to link the reinforced attribute
Brand name taxonomy
Descriptive: Sleep Inn
Evocative: Quicken Loans
Personality: Snapple
Synthetic: Verizon
Founder: Dyson
Brand awareness
Simple and easy to pronounce or spell
Familiar
Meaningful
Different, distinctive, unusual
Brand associations: Implicit and explicit meanings of a name are important
Naming procedures
Define objectives
Generate names
Screen initial candidates
Study candidate names
Research final candidates
Select final name
URLs (Uniform resource locators)
Domain names
Owner of URL must register and pay for name
Protects brand from unauthorized use in other domain names
Cybersquatting- registering, trafficking in or using domain name with bad-faith to profit from: Goodwill of trademark belonging to someone else
Company needs to protect their brands from unauthorized use in other domain names. Company can:
Sue current owner of URL for copyright infringement
Buy name from current owner
Register all conceivable variations of its brand as domain names ahead of time
Logos: Visual elements play a critical role in building brand equity and brand awareness
Indicate origin, ownership, association
Range from corporate names or trademarks written in distinctive form, to abstract designs that may: Be completely unrelated to corporate names
Symbols: Nonword mark logos
Like names, abstract logos can be distinctive and recognizable:
Abstract logo may lack inherent meaning present with a more concrete logo
Consumer may not understand what logo is intended to represent
Characters
Special type of brand symbol: One that takes on human or real-life characters
Introduced through advertising: Can play a central role in ad campaigns and package designs
Slogans: Short phrases that communicate descriptive/persuasive information about brand
Functions as useful as hooks or handles to help consumers grasp meaning of brand
Indispensable means of summarizing and translating intent of marketing program
Designing slogans: Designed so they contribute to brand equity in multiple ways
Can contain product-related messages and other meanings
Updating slogans: Recognize how it contributes to brand equity through enhanced awareness or images
Decide how much of equity enhancement, if any, still needed
Retain needed equities still residing in slogan, while providing whatever new twists of meaning are necessary to contribute to equity in other ways
Jingles: Musical messages written around brand
Catchy hooks and choruses: Become permanently registered in mind of listeners
Enhance brand awareness by repeating brand name in clever and amusing ways
Packaging: Activity of designing and producing containers/ wrappers
From perspective of both firm and consumers, packaging must:
Identify brand
Convey descriptive and persuasive information
Facilitate product transportation and protection
Assist in at-home storage
Aid product consumption
Packaging at Point of Purchase:
Right packaging can create strong appeal: On store shelf, help products stand out from clutter, etc
Packaging innovations: Can lower costs, can improve demand for product
Packaging design: Has become more sophisticated process:
Specialized package designers bring artistic techniques and scientific skills (Shelf impact of a package)
Packaging changes can be expensive. But can be cost-effective compared with other marketing communication costs:
Signal higher price or to more effectively sell products through new/sifting distribution channels
When significant product line expansion would benefit from common look
When old package looks outdated
Putting it all together: Each brand element can play different role in building brand equity
Marketers mix and match to maximize brand equity
Brand identity: Entire set of brand elements
Contribution of all brand elements to awareness and image