CHAPTER: 7 LEVERAGING SECONDARY BRAND ASSOCIATIONS TO BUILD BRAND EQUITY
Company

Existing brands can be related to a corporate or family brand

A corporate or family brand can be a source of brand equity or may not be useful
Country of Origin or Geographic Location

Can be linked to the brand to generate secondary associations

Consumers choose brands originating in different countries based on: Their beliefs about the quality of certain types of products from certain countries

The image that these brands or products communicate

Can create strong points-of-difference
Channels of Distribution

Retail stores can indirectly affect brand equity through an “image transfer” process

Retailers have their own brand images in consumers’ minds due to the following associations

Product assortment

Pricing

Credit policy

Quality of service

Customer base can be expanded by tapping into new channels of distribution
Co-branding
When two or more existing brands are combined into a joint product or are marketed together in some fashion
- Betty Crocker paired with Sunkist Growers to market a lemon chiffon cake mix
Ingredient Branding
Creates brand equity for materials, components, or parts that are contained within other branded products
often a signal of quality
Licensing

Creates contractual arrangements whereby firms can use: o Names, logos, and characters of other brands to market their own brands for some fixed fee o Can also provide legal protection for trademarks o Risk - A trademark may become overexposed if marketers adopt a saturation policy

Corporate trademark licensing
Licensing of company names, logos, or brands for use on variou may license corporate trademarks to:

Generate extra revenue and profits. Protect their trademarks

Increase their brand exposure

Enhance their image

Risk - Product may not live up-to the image established by the brand
Celebrity Endorsement

Rationale

A famous person can: o Draw attention to a brand o Shape brand perceptions, by virtue of consumers perceptions of the famous person

Celebrity endorsers should have:

A rich set of potentially useful associations, judgments, and feelings
Sporting Cultural or Other Events
Have their own set of associations that may become linked to a sponsoring brand under certain conditions. Contribute to brand equity by: 1.Becoming associated to the brand and improving brand awareness 2.Adding new associations 3.Improving the strength, favorability, and uniqueness of existing associations
Third Party Sources
Involves linking the brand to various third party sources
Example - Grey Goose's eventual success was a taste-test result from the Beverage Testing Institute that ranked Grey Goose as the number-one imported vodka

CHAPTER:
8
DEVELOPING A BRAND EQUITY MEASUREMENT AND MANAGEMENT SYSTEM
Conducting Brand Audits
Brand audit : Comprehensive examination of a brand to discover its sources of brand equity
Marketing audit : Independent examination of a company’s marketing environment, objectives, strategies, and activities

Agreement on objectives, scope, and approach data collection
 report preparation and presentation
Brand Inventory

Comprehensive profile of how all the products and services of a company are marketed and uires marketers to catalogue


Visual and written form for each product or service sold distribution policies
Brand Positioning and the Supporting Marketing Program
Ideal brand positioning aims to achieve congruence between:
1.
What customers currently believe about the brand
2.
What customers will value in the brand
3.
What the firm is currently saying about the brand
4.
Where the firm would like to take the brand
Establishing a Brand Equity Management System
Brand Charter
Brand Equity Report
Brand Equity Responsibilities
Brand Charter
Formalizes the company view of brand equity into a document

Provides relevant guidelines to marketing managers and key marketing partners

Should be updated on an annual basis to provide decision makers with a current brand profile
Brand Equity Report
Contents
Dashboards
Brand Equity Responsibilities
Overseeing Brand Equity

Organizational Design and Structures
Managing Marketing Partners

CHAPTER:
9
MEASURING SOURCES OF BRAND EQUITY: CAPTURING CUSTOMER MINDSET
Qualitative Research Techniques
1.
Free Associations Projective Techniques
2.
Zaltman Metaphor Elicitation Technique (ZMET)
3.
Neural Research Method
4.
Brand Personality and Value
5.
Ethnographic and Experiential Methods
Free Associations

Powerful way to profile brand associations

Without any specific probe, consumers narrate:

What comes to their mind when they think about the brand or the associated product category

Help form a rough mental map for the brand

Indicate the relative strength, favorability, and uniqueness of brand associations
Projective Techniques

Diagnostic tools to uncover the true opinions and feelings of consumers when: o They are unwilling or unable to express themselves o Present consumers with ambiguous stimulus and ask them to make sense of it
Types of Projective Techniques

Completion and Interpretation Tasks

Comparisons Task

Archetypes
Zaltman Metaphor Elicitation Technique (ZMET)

Uncovers hidden thoughts and feelings which can be expressed using metaphors

Elicits interconnected constructs that influence thought and behaviour

Construct- An abstraction to capture common ideas or themes expressed by customers

Metaphor

Defining one thing in terms of other

Represents thoughts that are tacit, implicit, and unspoken
Neural Research Methods
Neuromarketing - indicates that consumer buying decision is an unconscious habitual process
Brand Personality and Values
Brand personality - Human characteristics or traits that consumers can attribute to a brand
The big five- Brand personality scale used to measure:

1.
Sincerity
2.
Excitement
3.
Competence
4.
Sophistication
5.
Ruggedness

CHAPTER:
10
MEASURING OUTCOMES OF BRAND EQUITY: CAPTURING MARKET PERFORMANCE
Comparative Methods
1.
Brand-Based Comparative Approaches
2.
Marketing-Based Comparative Approaches
3.
Conjoint Analysis
Brand-Based Comparative Approaches

Competitive brands used as benchmarks by consumers

Exemplar: Category leader or some other brand that consumers feel is representative of the category, like their most preferred brand

Applications

Critique
Marketing-Based Comparative Approaches
Hold the brand fixed and examine consumer response based on changes in the marketing program
Conjoint Analysis
Survey-based multivariate technique that enables marketers to profile the consumer decision process