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Chapter 4: Choosing Brand Elements to build Brand Equity - Coggle Diagram
Chapter 4:
Choosing Brand Elements to build Brand Equity
Brand Names
Brand Name is fundamentally important as it often captures the central theme or key associations of a product in a comppact, economical fashion
Selecting a brand name for a new product is
an art and a science
Brand name must be chosen with
the six general criteria
in mind
Brand awareness
Familiar
Meaningful
Simple and easy to pronounce or spell
Different, distinctive, and unusual
Brand associations
Implicit and explicit meanings of a name are important
Brand names can reinforce an important attribute / benefit associated that makes up its product positioning
A descriptive brand name should make it easier to link the reinforced attribute / benefit
Naming procedures
Screen initial candidates
Study candidate names
Generate names
Research the final candidate
Select the final name
Define objectives
Characters
Special type of brand symbol. One that
takes on human or real-life characteristics
Introduced through
advertising
, can play a central role in ad campaigns and package designs
Criteria for choosing Brand Elements
Transferability
Within and across product categories
Across geographic boundaries and cultures
Likability
Fun and interesting
Rich visual and verbal imagery
Aesthetically pleasing
Productability
Legally
Competitively
Meaningfullness
Descriptive
Persuasive
Adaptability
Flexible
Updatable
Memorability
Easily recognized
Easily recalled
URLs
(Uniform Resource Locators)
Specify locations of the 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
Company can:
Buy the name from the current owner
Sue current owner of the URL for copyright infringement
Register all conceivable variations of its brand as domain names ahead of time
Cybersquatting - registering, trafficking, or using a domain name will bad-faith to profit from the goodwill of a trademark belonging to someone else
What would an ideal brand element be like?
Rich with creative potential
Enduring in meaning and relevant over time
Inherently fun or interesting
Transferable to a wide variety of product and geographic settings
Highly suggestive of the product class and benefits
Strongly protectable both legally and competitively
Easily remembered
Logos
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 design that may be completely unrelated to the corporate name or activities
Abstract logos can be distinctive and recognizable
Abstract logos may lack the inherent meaning present with a more concrete logo
Consumers may not understand what the logo is intended to represent
Slogans
Short phrases that communicate
descriptive or persuasive information about the brand
Function as
useful “hooks” or “handles”
to help consumers
grasp the meaning of a brand
Indispensable means of
summarizing and translating the intent of a marketing program
Types of slogans
Designing slogans
Designed so they contribute to brand equity in multiple ways
May contain product-related messages and other meanings
Updating slogans
Recognize how it contributes to brand equity: through enhanced awareness or image
Jingles
Musical messages
written around the brand
Catchy hooks and choruses
, become
permananently registered
in the minds of listeners
Enhance brand awareness
by repeating the brand name in
clever and amusing ways
Packaging
Activity of designing and producing containers or wrappers
From the perspective of both the firm and consumers, packaging must:
Facilitate product transportation and protection
Assist in at-home storage
Convey descriptive and persuasive information
Aid product consumption
Identify the brand
The right packaging can create strong appeal:
On the store shelf
Help products stand out from the clutter
Can provide at least a temporary edge on competition
Packaging innovations
can lower costs and can improve demand for a product
Package design has become a more spohisticate dprocess
Specialized package designers bring artistic techniques and scientific skills
Refers to “
shelf impact
” of a package
Packaging changes can be expensive
However, can be cost-effective compared with other marketing communication costs, because:
It signals a higher price, or to more effectively sell products through new or shifting distribution channels
When a significant product line expansion wiuld benefit from a common look
To accompany a new product innovation to signal changes to consumers
It helps when old package looks outdated
Conclusion
Each brand element can play a different role in building brand equity
Marketers
“mix and match”
to maximize brand equity
Brand identity is the entire set of brand elements; contributions of all brand elements to awareness and image