MR Unit-5
MR Unit-5
1. Brand Concepts:
Brand Identity:
This encompasses the unique set of characteristics and
associations that distinguish a brand from its competitors. It
includes tangible elements like logos, colors, and slogans, as well
as intangible elements like brand values, mission, and voice.
Example: Apple's brand identity revolves around innovation,
simplicity, and design excellence, which is reflected in its
minimalist product designs and marketing messages.
Brand Image:
Brand image refers to how consumers perceive a brand based on
their experiences, beliefs, and emotions associated with it. It can
be influenced by various factors such as advertising, word-of-
mouth, and product quality.
Example: Nike's brand image is associated with athleticism,
empowerment, and high performance, which is reinforced through
its marketing campaigns featuring athletes and slogans like "Just
Do It."
Brand Positioning:
Brand positioning is the process of establishing a distinctive place
for a brand in the minds of consumers relative to its competitors.
It involves identifying and communicating the unique value
proposition that sets the brand apart.
Example: Volvo positions itself as a brand synonymous with
safety, emphasizing features like airbags and collision avoidance
systems in its marketing to differentiate itself from other car
manufacturers.
Brand Personality:
Brand personality refers to the set of human-like traits attributed
to a brand. It helps consumers relate to and connect with the
brand on a personal level.
Example: Coca-Cola is often associated with attributes like
happiness, nostalgia, and optimism, with its branding evoking
feelings of warmth and togetherness.
Brand Promise:
The brand promise is the commitment a brand makes to its
customers regarding the benefits and experiences they can expect
from its products or services. It sets expectations and builds trust
with consumers.
Example: FedEx promises to deliver packages "Absolutely,
Positively Overnight," highlighting its commitment to fast and
reliable shipping services.
2. Brand Names:
Brand Naming:
Brand naming involves selecting a name that reflects the brand's
identity, values, and positioning while being memorable and
distinctive.
Example: Google's name is a creative play on the mathematical
term "googol," representing the vast amount of information the
search engine can access.
Brand Extensions:
Brand extensions involve leveraging an established brand name to
introduce new products or enter new markets. It capitalizes on
the equity and recognition of the existing brand.
Example: Nestlé extended its KitKat brand from chocolate bars to
ice cream, cookies, and other confectionery products.
Trademarking:
Trademarking involves legally protecting a brand name, logo, or
slogan to prevent others from using similar marks that could cause
confusion among consumers.
Example: McDonald's has trademarked its name, golden arches
logo, and tagline "I'm lovin' it" to safeguard its brand identity and
prevent competitors from imitating its branding elements.
3. Brand Power Research:
Market Share Analysis:
Market share analysis involves evaluating a brand's sales
performance relative to its competitors within a specific market
or industry.
Example: Coca-Cola and PepsiCo regularly analyze their market
share in the global soft drink industry to assess their competitive
positions and identify growth opportunities.
Brand Valuation:
Brand valuation is the process of estimating the financial worth of
a brand, taking into account factors such as brand awareness,
customer loyalty, and market position.
Example: Interbrand's annual Best Global Brands report evaluates
and ranks the world's most valuable brands based on their
financial performance and brand strength.
Brand Loyalty Studies:
Brand loyalty studies aim to measure the level of consumer
attachment and repeat purchase behavior towards a brand. This
includes assessing factors such as customer retention rates,
frequency of purchases, and brand advocacy.
Example: Amazon Prime's membership program fosters brand
loyalty by offering exclusive benefits such as free shipping,
streaming services, and discounts to its subscribers.
Brand Perception Surveys:
Brand perception surveys gather data on how consumers perceive
a brand relative to its competitors. This includes assessing brand
attributes, reputation, and emotional appeal.
Example: Samsung conducts regular brand perception surveys to
understand how consumers perceive its products compared to
rival brands like Apple and Huawei.
4. Brand Equity Survey Measurements:
Brand Awareness:
Brand awareness measures the extent to which consumers
recognize and recall a brand. It includes both brand recall
(unaided awareness) and brand recognition (aided awareness).
Example: McDonald's is known for its high brand awareness, with
its golden arches logo being instantly recognizable worldwide.
Brand Associations:
Brand associations are the attributes, values, and characteristics
linked to a brand in consumers' minds. These associations can be
positive, negative, or neutral and significantly influence brand
perception and purchase behavior.
Example: Disney is associated with values like magic, imagination,
and family entertainment, which are reinforced through its theme
parks, movies, and merchandise.
Brand Loyalty:
Brand loyalty measures the degree to which customers
consistently choose one brand over others in a product category.
It encompasses both behavioral loyalty (repeat purchases) and
attitudinal loyalty (positive attitudes and preferences towards the
brand).
Example: Apple enjoys strong brand loyalty, with many iPhone
users sticking to the brand and upgrading to newer models due to
their satisfaction with Apple's products and ecosystem.
Brand Trust:
Brand trust reflects the confidence consumers have in a brand's
reliability, integrity, and ability to deliver on its promises. It is
built through consistent product quality, transparent
communication, and ethical business practices.
Example: Patagonia has earned a reputation for trustworthiness
by prioritizing environmental sustainability, fair labor practices,
and transparency in its supply chain.
Brand Satisfaction:
Brand satisfaction measures the degree to which customers are
pleased with a brand's products or services. It reflects the gap
between customer expectations and actual experiences.
Example: Airbnb tracks customer satisfaction through post-stay
surveys and reviews, allowing hosts and guests to provide
feedback and ratings on their experiences.
5. Brand Tracking Studies:
Continuous Measurement:
Continuous brand tracking involves regularly monitoring key brand
metrics over time to track changes in brand perception, market
share, and consumer behavior. It provides insights into the
effectiveness of marketing strategies and helps identify emerging
trends.
Example: Coca-Cola conducts ongoing brand tracking studies to
monitor shifts in consumer preferences, competitive activity, and
market dynamics to inform its marketing and product
development efforts.
Competitive Benchmarking:
Competitive benchmarking compares a brand's performance with
that of its competitors across various metrics such as brand
awareness, perception, loyalty, and market share. It helps
identify areas of strength and weakness relative to rivals.
Example: Samsung benchmarks its brand performance against
competitors like Apple and Huawei to identify opportunities for
improvement and maintain its competitive edge in the global
smartphone market.
Touchpoint Analysis:
Touchpoint analysis examines the various points of interaction
between consumers and the brand throughout the customer
journey. It includes offline and online touchpoints such as
advertising, customer service, retail environments, and digital
platforms.
Example: Starbucks conducts touchpoint analysis to optimize
Advertising Research: