Topic 1: Brand Value
Traditional vs. Integrative Advertising
A Basic One-Way Communication Model Basic Two Way Integrative Communication Models
Brand Loyalty:
A consumer's commitment using or advocating a brand.
What is advertising?
Advertising is a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future.
Difficulties in Measuring Marcom Effectiveness: Choosing a Metric
Change in brand awareness Improvement in attitudes toward the brand Increased purchase intentions Larger sales volume
Alternative Brand Equity Model: Brand Asset Valuator
Differentiation Relevance Esteem Knowledge
Effects of Brand Equity Increases
Higher market share Increased brand loyalty Premium pricing Revenue premiums
Integrated Marketing Communications (IMC)
IMC is a communications process for planning, creation, integration, and implementation of diverse forms of marcom delivered to a brand's targeted customers and prospects. IMC should help create and enhance brand value.
Brand concept
Is the specific meaning that brand managers create and communicate to their target market: Functional needs Symbolic needs Experiential needs
Return on Marketing Investment (ROMI)
Measures the effect of marcom, or of its specific elements such as advertising, in terms of whether it generates a reasonable revenue return on the marcom investment.
The Tools of Marketing Communications
Media Advertising Direct Response and Interactive Advertising Place Advertising Store Signage and Point-of-Purchase Advertising Trade- and Consumer-Oriented Promotions Event Marketing and Sponsorships Marketing-Oriented Public Relations and Publicity Personal Selling
Leveraging Brand Meaning from Various Sources
People (employees, endorsers) Places (channels, origin of country) Things (events, third party endorses) Other Brands (related brands)
Evaluating Advertising Effectiveness
Perceive/Perception Believe/Persuasion Undertstand/Cognition Feel/Emotion Connect/Assoication Act/Behaviour
Brand image associations that build brand equity
Positive Attributes Perceived Benefits Favorable Attitude
Dimensions of Brand Personalities developed by Jennifer Aaker
Sincerity Competence Ruggedness Sophistication Excitement
Alternative Brand Equity Models Brand Halo
Small to big Tangible attributes Symbols Benefits Personality Values
Enhancing Brand Equity
Speak-for-Itself Message-Driven Leveraging
Example of Brand Equity Model: The Brand Awareness Pyramid
Top: Top of mind Brand Recall Brand Recognition Bottom: Unaware of Brand
