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Chapter 4: Choosing Brand Elements to Build Brand Equity - Coggle Diagram
Chapter 4: Choosing Brand Elements to Build Brand Equity
Types of Brand Elements
Brand Names
Must be chosen with the general criteria; memorability, meaningfulness, likeability, transferability, adaptability, protectability
Brand awareness:
Simple and easy to pronounce and spell
Familiar
Meaningful
Different, distinctive, and unusual
Brand associations:
Implicit and explicit meanings of a name are important
Brand names can reinforce an important attribute or benefit associated that makes up its product positioning
A descriptive brand name should make it easier to link the reinforced attribute or benefit
Naming procedures:
Define objectives
Generate names
Screen initial candidates
Study candidate names
Research the final candidates
Select the final name
Logo & Symbols
Visual elements play a critical role in building brand equity and brand awareness
Indicate origin, ownership, or association
Range from corporate names or trademarks written in a distinctive form, to abstract designs that may be completely unrelated to the corporate name or activities
Symbols: Non-word mark logos
Abstract logos can be distinctive and recognizable. They may lack the inherent meaning present with a more concrete logo. One limitation is that consumers may not understand what the logo is intended to represent
URLs
Specify locations of pages on the Web:
Commonly referred to as domain names
Owner of a URL must register and pay for the name
Protects a brand from unauthorized use in other domain names
Cybersquatting or domain squatting:
Registering, trafficking in, or using a domain name with bad-faith to profit from
The goodwill of a trademark belonging to someone else
Company can:
Sue current owner of the URL for copyright infringement
Buy the name from the current owner
Register all conceivable variations of its brand as domain names ahead of time
Characters
Special type of brand symbol:
One that takes on human or real-life characteristics
Introduced via advertising which can play a central role in ad campaigns and package designs
Slogans
Short phrases that communicate descriptive and persuasive information about the brand. Function as useful "hooks" or "handles" to help consumers grasp the meaning of a brand
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 image
Decide how much of this equity enhancement, if any, is still needed
Retain needed or desired equities still residing in the slogan, while providing whatever new twists of meaning are necessary to contribute to equity in other ways
Jingles
Musical messages written around the brand
Catchy hooks and choruses become permanently registered in listeners' minds
Enhance brand awareness by repeating the brand name in clever and amusing ways
Packaging
Activity of designing and producing containers or wrappers
Changes in packaging can be expensive but can be cost effective compared with other marketing communication costs:
Signal a higher price, or to more effectively sell products through new or shifting distribution channels
When a significant product line expansion would benefit from a common look
To accompany a new product innovation to signal changes to consumers
When old package looks outdated
From the perspective of both the firm and consumers, packaging must:
Identify the brand
Convey descriptive and persuasive information
Facilitate product transportation and protection
Assist in at-home storage
Aid product consumption
Packaging at the point of purchase:
The right packaging can create strong appeal on the store shelf, helps products stand out from the clutter, and can provide at least a temporary edge on competition
Packaging innovations can lower costs and improve demand for a product
Package design refers to "shelf impact" of a package, and has become a more sophisticated process where specialized package designers bring artistic techniques and scientific skills
Criteria for choosing Brand Element
Memorability, meaningfulness and likability are the marketer's offensive strategy and build brand equity. Transferability, adaptability and protectability play a defensive role for leveraging and maintaining brand equity in the face of different opportunities and constraints.
Memorability
Brand elements should be easy-to-remembering and must be able to grab the attention of the customers or potential customers.
Meaningfulness
The brand name or elements should be descriptive about the product. Brand elements should portray or describe the category of a specific brand product.
Likability
Brand elements can be interesting, colorful, fun, rich visual and aesthetically pleasing.
Transferability
Transferability means how much a brand can expand its product line. There can be an extension in the same category or even in other categories. Besides that, brand elements should be able to create a brand identity without any restrictions of geographical boundaries.
Adaptability
The term adaptability simply means how much a brand can adapt to the changing market trends. Greater adaptability means the brand can easily cope-up with changing customer opinions and market trends.
Protectability
Brand elements should be easy to defend or protect legally. That said, brand elements should be designed in such a way that a company can easily defend and protect those elements in local or international markets legally.
Brand Elements
Tactics in choosing different brand elements
Strongly protectable both legally and competitively
Enduring in meaning and relevant over time
Transferable to a wide variety of product and
geographic settings
Rich with creative potential
Inherently fun or interesting
Highly suggestive of the product class and benefits
Easily remembered
Definition of Brand Elements
Trademarkable components that help in identifying and differentiating the brand.
Mixing and Matching Brand Elements
Meaningful brand names that are visually represented through logos are easier to remember than without reinforcement. The entire set of brand elements makes up the brand identity, the contribution of all brand elements to awareness and image
Each brand element plays a different role in building brand equity, so marketers should "mix and match" to maximize brand equity