05 Handout 1 Brand Marketing & Management (PART 1)

brand equity

> This refers to the descriptive aspects of a brand such as symbols, imagery, or consumer associations that reflect the strength of the overall consumer perception. > Basically, it is the added value endowed to products and services with consumers.

brand knowledge

BRAND EQUITY 3 Key Elements (BrandKEP) > This creates the differential effect that drives brand equity. > It is the point of comparison among brands of the same product line or services.

associative network memory model (ANMM)

BRAND EQUITY Brand Knowledge > This involves the use of linkages of memory to influence perception. > An information stored in our memory gets associated with other information when introduced to a general concept. > These ideas form a network that establishes a general concept.

1 brand awareness 2 brand image

BRAND EQUITY Brand Knowledge > What are the 2 components of brand knowledge? (BrandAwIm)

brand image

BRAND EQUITY Brand Knowledge: 2 Components (BrandAwIm) > It is the consumer's perception of the brand and its associations. > Through repeated exposure and awareness, it leads to strong associations. > A great way to build THIS is through the use of different social media platforms. > The frequency of published content from these platforms boosts the exposure of the brand.

brand awareness

BRAND EQUITY Brand Knowledge: 2 Components (BrandAwIm) > The strength of the brand traced in one's memory. > Consumer's ability to identify and recall a brand among all other information specifically in their consideration set. > The increase in familiarity of the brand happens through repeated exposure. > The more the consumer sees, hears, thinks, and experiences the brand, the stronger it registers to the consumer's memory.

brand recognition

BRAND EQUITY Brand Knowledge: 2 Components of Brand Awareness (BrandRecoReca) > It is the consumer's ability to confirm prior exposure to the brand when given the brand as a cue. > So if an avid customer of Nike sees a shirt with the swoosh logo or the statement "just do it.", they will automatically recognize that the shirt is a product of Nike.

brand recall

BRAND EQUITY Brand Knowledge: 2 Components of Brand Awareness (BrandRecoReca) > It is the consumer's ability to retrieve the brand from memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue. > For example, if a regular Filipino household drinks coffee every morning and if the brand that pops in their head with the category coffee drink is Nescafe, then it exhibits brand recall.

choice advantages

BRAND EQUITY Brand Knowledge: 3 Advantages of Brand Awareness (LeConChoAdvantages) > Raising a strong awareness of the brand leads the brand to be the top of mind choice of the consumer among brands in the consideration set.

consideration advantages

BRAND EQUITY Brand Knowledge: 3 Advantages of Brand Awareness (LeConChoAdvantages) > Raising brand awareness will increase the likelihood for the brand to be a member of the consideration set in the mind of the consumer. > Being a part of the choices among brands strengthens the brand.

learning advantages

BRAND EQUITY Brand Knowledge: 3 Advantages of Brand Awareness (LeConChoAdvantages) > The first step of building strong brand awareness is to register the brand in the minds of the consumers. > With the proper brand elements, the building of brand awareness gets easier.

1 brand recognition 2 brand recall

BRAND EQUITY Brand Knowledge: Brand Awareness > What are the 2 components of brand awareness? (Brand RecoReca)

1 learning advantages 2 consideration advantages 3 choice advantages

BRAND EQUITY Brand Knowledge: Brand Awareness > What are the 3 advantages of brand awareness? (LeConChoAdvantages)

brand associations

BRAND EQUITY Brand Knowledge: Brand Image > Brand image relies heavily on this created with the brand. > Strong favorable, and unique relations of marketing strategies or tools with the brand highly impacts the overall brand knowledge.

brand attributes

BRAND EQUITY Brand Knowledge: Brand Image - 2 Forms of Brand Associations (BrandAtBen) > These are the descriptive features that characterize a product or service such as physical characteristics and personality.

brand benefits

BRAND EQUITY Brand Knowledge: Brand Image - 2 Forms of Brand Associations (BrandAtBen) > These are the personal values and meanings that the consumers attach to the product or service attributes. > These are the promises of the brands that sets them apart from their competition.

1 brand attributes 2 brand benefits

BRAND EQUITY Brand Knowledge: Brand Image - Brand Associations > What are the 2 forms of brand associations? (BrandAtBen)

1 brand knowledge 2 brand experience 3 brand positioning

Brand Equity > What are the 3 key elements of brand equity? (BrandKEP)

marketing tools and management endeavors

Introduction > In as much as brands are the faces of an organization, THESE are needed to bring these brands closer to their consumers.

branding, marketing, and management

Introduction > These are important tools and functions for any organization, but they have different, yet still complementary, functions.

marketing

Introduction > This answers the question "how" > It materializes the long-term strategy of a company through short-term tactics that establishes the brand to the minds of the consumers. > This is what the organization does to attract the consumers and persuade them with the brand message and promise.

branding

Introduction > This answers the question "why?" and establishes the principles and values of an organization. > It refers to the overall long-term strategy of a company. > This is who you are as an organization and your promises to the consumers. > This is the first and foremost to all the endeavors that could exist within a company.

management

Introduction > This aspect provides sustainability to the branding and marketing efforts of a company. > Having products sold on the market does not guarantee an increase in sales therefore, companies started establishing their brand to give clarity and direction to the marketing tools that will be used by the brand.