Creating Brand Equity - Kotler - Keller Chapter Summary

Creating Brand Equity - Kotler - Keller

1.What is a brand and how does branding work?

Brand is name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

The purpose of branding is to create demand for the product that a particular firm is offering or marketing or selling. A satisfied buyer can repurchase the same product only when it is identified uniquely and branding provides the means through firms provide unique identification to their products targeted at various segments in the product or need market.

2. What is brand equity?

Brand equity brand value is associate with the customers. If more customers recognize the brand and show preference for the brand, the brand has more value. Customer-based brand equity is the differential effect brand has on consumer response to the marketing activities of that brand. A brand has positive customer-based brand equity or value when consumers react more favorably to a product's marketing activity conducted with the brand name in comparison to marketing activity conducted without disclosing the brand name.

3. How is brand equity measured and managed?

BrandAsset Valuator
Brandz
Brand Resonance Model

Brand audit
Brand tracking studies
Brand reinforcement
Brand revitalization

4. What are the important brand architecture decisions involved in developing a branding strategy?
Choosing Brand elements
Developing brand elements

Decisions to use either or combinations of - Corporate umbrella brand name - Separate product family brand names - Target offer brand name.

Creating Brand Equity - Chapter Sections

How Does Branding Work?

Defining Brand Equity

Building Brand Equity

Measuring Brand Equity

Managing Brand Equity

Devising a Branding Strategy

Customer Equity

Marketing Excellence of McDonald's

Marketing Excellence of Procter & Gamble



How Does Branding Work?

Defining Brand Equity

BrandAsset Valuator

Energized differentiation
Relevance
Esteem
Knowledge

Brandz

Power
Premium
Potential

Brand Resonance Model

4. Resonance
3. Judgments - Feeling
2.  Performance - Imargery
1. Salience

Building Brand Equity

Initial choices for brand elements

Product, service and marketing activities

Other associations

Measuring Brand Equity



Managing Brand Equity

Devising a Branding Strategy

Customer Equity

Marketing Excellence of McDonald's

Marketing Excellence of Procter & Gamble


Updated on 8 October 2019, 9 September 2019.