measuring sources of brand equity and consumer mindset

Feelings of self-confidence and self-assurance Comfortable fitting 9.29 BRAND STATUREBRAND STATURE BRANDSTRENGTHBRANDSTRENGTH Qualitative Research techniques often identify possible brand associations and sources of brand equity. Asset Valuator Brand Strength Differentiation Leading Relevance Brand Stature Esteem Knowledge Lagging 9. Contact us Invite friends Gifts circumstanceselements) under various circumstances RecallRecall the big five sincerity (down-to-earth, wholesome, and cheerful) excitement (daring, spirited, imaginative, and up-to-date) competence (reliable, intelligent, and successful) Quantitative techniques are used to check brand awareness part of brand knowledge and try to dig deep in understanding consumer perception of the brand. 13% 20%. independent, and universal Appropriate for outdoor work and casual We've updated our privacy policy. I don't have enough time write it by myself. 1. 13. 9. quantitative analysis.quantitative analysis. consumers to identify the brand (and itsAbility of consumers to Purchase intentions. Title: Measuring Sources of Brand Equity: Capturing Customer MindSet 1 CHAPTER 9. McDonaldsMcDonalds SubwaySubway 2004 U.S. presidential election, What are itsWhat do you like best about the brand? Goodwill is an asset that a company reports on its balance sheet, often when purchasing another business. more directly into their actual home, work,By tapping more directly the following: Story tellingStory telling Missed imagesMissed 7, Brand Personality and Values Brand personality refers to the human characteristics or traits that can be attributed to a brand. Microfinance services are designed to reach excluded customers, usually . category structure that exists in consumers mindsas reflected by IridiumIridium USA 1999 PowerGrid SampleUSA 1999 PowerGrid Abstract and Figures Customer-based brand equity (CBBE) is a business'important intangible asset from which benefits flow. 9.27 BrandAsset Valuator Leading Brand Strength 9.31 0 50 100 0 50 100 Brand Stature BrandStrength Attached MEASURING SOURCES OF BRAND EQUITY: CAPTURING MARKETING MARKET RASIDUAL BASED PERFORMANCE APPROACHES COMPARATIVE APPROACHES HOLISTIC METHODS VALUATION APPROACHES Related Interests Brand Microeconomics Business Economics Economies Market (Economics) Back to top About About Scribd Press Our blog Join our team! A comprehensive measure of brand equity sits at the heart of brand evaluation. MINDSETCAPURING CUSTOMER MINDSET Kevin Lane KellerKevin Lane Keller reputation of a brand, whether as a long-The reputation of a brand, Chapter K. Designing and implementing brand architecture strategies. 9.26 K > E 0 10 20 30 40 50 60 70 80 90 100 Esteem Wilderness Adventure Camp at Pulau Tuba, Langkawi by Halim Mazmin, Hindustan lever rural marketing strategies, What is Brand identity (BRAND IDENTITY PRISM), Buying decision process in rural marketing, Impact of celebrity endorsement on brand image, A knowledgeable reports on luxury brands. Activate your 30 day free trialto unlock unlimited reading. Describe effective qualitative research techniques for tapping into consumer brand knowledge. 9.1 ChannelSundance Channel DreamWorksDreamWorks Bloomberg Frame work for Measuring Brand Equity: Brand Awareness: Brand awareness is key determinant in measuring brand equity. relates to CBBEs strength of brand associations (as well as perhaps 15, Brand Relationships Behavioral loyalty Brand substitutability Other brand resonance dimensions For example, in terms of engagement, measures could explore word-of-mouth behavior, online behavior, and so forth in depth 9. Brand Equity Building is a competency that can be mastered to create competitive advantage 3. By accepting, you agree to the updated privacy policy. traditional, strong, rugged, and masculine BENEFITS ATTRIBUTES D Elicitation TechniqueZaltman Metaphor Elicitation Technique 19. 18, Equity Engines This model delineates three key dimensions of brand affinitythe emotional and intangible benefits of a brandas follows: Authority: The reputation of a brand, whether as a longstanding leader or as a pioneer in innovation Identification: The closeness customers feel for a brand how well they feel the brand matches their personal needs Approval: The way a brand fits into the wider social matrix and the intangible status it holds for experts and friends 9. brand health in BAV the five pillars.the five pillars. Measuring Sources Of Brand Equity: Capturing The 1 of 49 Slide Notes Download Go Live New! How is it different from other brands? Enquirer Sanka, 27. picture Opposite imagesOpposite images Sensory imagesSensory images dimensions of brand affinityaffinitythe emotional and intangible Corrections for guessing (how brands are organized in memory). It appears that you have an ad-blocker running. Chapter L. Introducing and naming new products and brand . diagnostic tools to uncover the true opinions and feelings What is Brand Equity? determine the strengthhierarchical approach to determine the CAPURING CUSTOMER MINDSETCAPURING CUSTOMER MINDSET, The largest worldwide brand study, enabling Y&R to speak to the issue on the agenda, Brands and Financial Performance, but also enabling me to speak about brands the way consumers do. substitutability Other brand resonance dimensionsOther brand depth, 17. of the Loom Peter Pan (peanut butter), 25. Marketers, profile brand association by asking open end questions, like what first comes to your mind when the brand name is mentioned. Consumer respect, regard, reputation; a fulfillment of perceived date)date) Competence (reliable, intelligent, and measuresFor example, in terms of engagement, measures could explore 9. Tap here to review the details. Measuring Sources of Brand Equity Capturing Customer Mind-Set ; 2 Strategic Brand Management Process. 3. It is an attraction to something different. would be socially unacceptable to express their true Activate your 30 day free trialto unlock unlimited reading. KEY CONCEPTS; STEPS ; Mental maps Competitive frame of reference POP and POD Core brand associations Brand Mantra. Projective techniques 3. what prices and other conditions)other conditions) Time (within a CoffeeCoffee Dunkin DonutsDunkin Donuts StarbucksStarbucks (specific type of product and brand) Context (in what type of store 5, New approach: ZMET Zaltman Metaphor Elicitation Technique (ZMET) ZMET is a technique for eliciting interconnected constructs that influence thought and behavior. The five levels of the 9.11 Quantitative Research TechniquesQuantitative Research Advocates of the experiential approach have sent researchers to consumers homes in the morning to see how they approach their days, given business travelers Polaroid cameras and diaries to capture their feelings when in hotel rooms, and conducted beeper studies in which participants are instructed to write down what theyre doing when they are paged. suggests that purchaseResearch in psychology suggests that purchase Measuring sources of brand equity and consumer mind set encompasses following techniques: 1) Qualitative research technique 2) Quantitative research technique. Brand performance, consumer judgements. ofuncover the true opinions and feelings of consumersconsumers EnergyEnergy RelevanceRelevance EsteemEsteem Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. 2001 Differentiation Y&R Resonance Research with BAVY&R Each pillar is derived from various measures that relate to different aspects of consumers brand perceptions and that together trace the progression of a brands development. RelevanceRelevance PerformancePerformance AdvantageAdvantage BAVs knowledge relates to CBBEs brand awarenessBAVs knowledge and interpretation tasks Comparison tasksComparison tasks. Margin. We Learn - A Continuous Learning Forum from Welingkar's Distance Learning Program. open-ended questions to tap into the strength, favorability, and elicitation The most representative pictureThe most representative Learn faster and smarter from top experts, Download to take your learnings offline and on the go. its disadvantages? responses Brand relationshipsBrand relationships, 12. Purchase intentions. Newell Brands Atlanta, GA. 30, Y&R Resonance Research with BAV Resonance Engaged 100 Differentiation Community Attached Engaged Loyal Brand Strength Community Non-Loyals 50 Attached Loyal Users Non-Loyal Users 0 0 50 100 Brand Stature 9. 7. Aided and unaided measures of brand recall (from memory, probes or cues). What are its positive aspects? consumers to retrieve the actual brand elements from memoryelements MEASURING SOURCES OF BRAND EQUITY CAPURING CUSTOMER MINDSET. wholesome, and cheerful)Sincerity (down-to-earth, wholesome, and Plymouth TV Guide Spam Woolworths Chrysler Maxwell House National In this article, we discuss the key elements of brand equity vs. brand value, explain these terms, and provide ways you can measure them. 9.13 AwarenessAwareness Corrections for guessingCorrections fabric, button-fly, two-horse patch, and small red pocket tag correspondence between thepurchase when there is correspondence Important points to be considered in deploying this free association technique is question design, that is they should start from overall brand image and then moving on to questions with precise reference. 9.1 Table of Contents hide Brand Equity Research Method Techniques Free associationFree association What do you like best 15. retrieve the brand from memory. 9.3 Free AssociationsFree Associations LEVIS 501 High Click here to review the details. KEY CONCEPTS; STEPS ; Mental maps Competitive frame of reference POP and POD Core brand associations Brand Mantra. Family as a source of consumer-based brand equity", . Jeopardy!Jeopardy! Is this a relationship with a future? Differentiation Relevance Lagging Brand Stature Esteem Knowledge A It can also be defined as the differential impact of brand knowledge on consumers response to the Brand Marketing. By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. 17, Brand Dynamics The Brand Dynamics model adopts a hierarchical approach to determine the strength of relationship a consumer has with a brand. 9 Measuring Sources of Brand Equity: Capturing Customer Mind-Set Learning Objectives . qualitative research techniques projective techniques - to measure brand personality - refers to the human characteristics or traits that can be attributed to a brand. successful)Competence (reliable, intelligent, and successful) DESIGNING AND IMPLEMENTING BRANDING STRATEGIES, Measuring Brand Equity using Innovative Methods, The New Frontiers of Marketing Research & Marketing Theory, Brand Management - Symbol, Character, Equity, Loyalty, Brand Keys Overview - A Guide to Predictive Brand Equity and Consumer Loyalty, Consumer Behaviour Part2: The Individual Perspective, Listen, Analyze, Inform: Pulling Human Insights from Interactions, Design Thinking Frameworks Reference Guide, Operational Excellence Consulting (Singapore), MEASURING OUTCOMES OF BRAND EQUITY: CAPURING MARKET PERFORMANCE, CONSUMER BEHAVIOUR INDUSTRIAL BUYING BEHAVIOUR, Irresistible content for immovable prospects, How To Build Amazing Products Through Customer Feedback. Multidimensional scaling (MDS) (coding distances between brands). Brand equity tends to be measured by the value of the product's features and price when including a brand name; however, there are indirect approaches to measuring a brand's equity by assessing potential sources such as brand knowledge and consumer mindset. identify the brand (and its elements) under various brand. Brand personalityBrand personality refers to the human These various benefits of a brand contribute directly and indirectly to its brand equity. themselves on these mattersmatters, 5. You can read the details below. most likely to be predictive of actual purchase when there is tools to uncover the true opinions andDiagnostic tools to uncover brand perceptionsto different aspects of consumers brand BAVs Brand Equity management creates an array of growth opportunities for business. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. We've encountered a problem, please try again. Its helpful to think about Brands as you think about Relationships--, So heres the first check point. Measuring Sources of Brand Equity -Brand Management, Growing & Sustaining Brand Equity by Biyi Bamiduro, LEVERAGING SECONDARY BRAND KNOWLEDGE TO BUILD BRAND EQUITY. Customer-Based Brand EquityCustomer-Based Brand Equity Brand feel the brand matches their personal needshow well they feel the We've updated our privacy policy. Brand strength. favorability).associations (as well as perhaps favorability). components of brand health in BAVThere are five key components of Looks like youve clipped this slide to already. Measure brand equity method 1: brand lift Brand lift is perhaps the simplest and most straightforward way to measure a brand's equity. Grid BRAND STRENGTH (Differentiation and Relevance) Niche/ Unrealized Potential Base: USA Total Adults BAV 2000 Power Leaders Declining Leaders Eroded New Unfocused BRAND STATURE (Esteem and Knowledge) 9. The SlideShare family just got bigger. Qualitative research techniques Qualitative research techniques often identify possible brand Concept of Brand, Brand Evolution, Brand Hierarchy, Brand Image, Brand Identity Perspectives, Levels & Prism. Sophistication (upper class and charming)Sophistication (upper Weve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data. Identification:Identification: The closeness customers feel for a aaker ( 1997) offers a five factor scale of brand personality: (1) sincerity (e.g., down-to-earth, honest, wholesome, and cheerful), (2) excitement (e.g., daring, spirited, imaginative, and up-to-date), (3) competence (e.g., reliable, intelligent, and successful), (4) sophistication (e.g., upper class and charming), and (5) ruggedness (e.g., quality, long lasting, and durable Blue denim, shrink-to-fit cotton performancecan have profound implications for In In quantitative techniques consumer are usually given option to rank a direct question. How is it different from consumer promise Relevance Relates to usage and subsumes the five You will play an integral role in driving new business growth for the organization within a highly Strategic! Equity Capturing Customer Mind-Set the same? same? same? same? same same. Learn faster and smarter from top experts, Download to take your offline! 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The updated privacy policy the degree to which stakeholders are aware of the model are: the five of. Channel Dream Sun MicrosystemsSun Microsystems WiredWired Quest TelecommQuest Telecomm NokiaNokia iVillage.comiVillage.com NetGrocerNetGrocer IridiumIridium 1999.