Brand Equity Concept
Brand Equity Concept MKTG 3104
Popular in Marketing Management
Popular in Marketing
This 1 page Class Notes was uploaded by Abby Butterfield on Tuesday May 3, 2016. The Class Notes belongs to MKTG 3104 at Virginia Polytechnic Institute and State University taught by Donna Wertalik in Spring 2016. Since its upload, it has received 34 views. For similar materials see Marketing Management in Marketing at Virginia Polytechnic Institute and State University.
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Date Created: 05/03/16
Brand Equity Concept Sources 1. Strength 2. Favorability 3. Uniqueness Outcomes 1. Larger margins 2. Loyalty 3. Stability between competitors 4. Inelastic against prices 5. Licensing 6. Opportunities Elements of a Brand 1. Position a. Target audience 2. Promise a. One more important thing delivered every time 3. Personality a. Reputation/traits that comes to mind when thinking about brand Brand Story – Simple summary leads to trial/purchase (Ex. Nike’s “listen to the voice of athlete”) Associations – Logos, Name, Colors, Taglines, Fonts, Imagery Dilution – Keeping it ‘core’ while expanding; Refraining from over-extending name (Ex. Starbucks and Seattle’s Best) Other options: Co-branding: Panera/Chipotle company Ingredient branding: Intel processors, Oreo at DQ Brand licensing
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