Professional Documents
Culture Documents
What is a brand?
The American Marketing Association: a 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
What is a brand?
A brand identifies the seller or maker. Under trademark law, the seller is granted exclusive rights to the use of the brand name in perpetuity . Brands differ from other assets such as patents and copyrights, which have expiration dates.
Brand equity
Brands vary in the amount of power and value they have in the marketplace. At one extreme are brands that are not known by most buyers. Then there are brands for which buyers have a high degree of brand awareness.
Brand equity
Beyond brand awareness there are brands with a high degree of brand acceptability Then there are brands that enjoy a high degree of brand preference Finally, there are brands that command a high degree of brand loyalty
Brand roles
Practical role Emotional role Social role
Loyalty segments
The Steadfast Loyalty Minimizers Category Contingents Image Rejectors
Connect or disconnect
Brand loyalty can not be taken for granted. It is important for marketers to understand what helps a brand make a connection with consumers, and what causes consumers to disconnect. In other words, What builds or breaks the brand bond.
Connect or disconnect
Nostalgia Keep up with the times Clubs
Connect or disconnect
Quality
Brand hierarchy
Pinnacle brands Premium brands Middle class brands Quality no-name brands Cheap stuff
Conclusion
Keep up the quality of your product or service. Be patient. Keep up the brand image through quality, advertising, and public relations efforts. Start with youth in building brands. The brands that make an impression on children, teenagers, and young adults will often be selected by them as adults.
Conclusion
Appeal to nostalgia. Be timely and timeless;innovative while keeping the brand character. Many opportunities still exist to revive dead or moribund brand names from the past. Create good price/value relationships at all price levels. Customers pay more for quality if they feel they are getting something in return
Conclusion
Make customer service be a customer connect and reconnect by showing genuine interest in customer satisfaction. At the pinnacle and the premium levels, give consumers reasons to buy--quality, style, craftsmanship--dont make them feel look as if they are just paying for the name.
Conclusions
Dont take customers loyalty for granted. Dont think that long-term relationships are fixed for life. Even the Steadfasts will walk away if the quality drops or the new advertising alienates them.