1. What is difference between (a) Brand Image (b) Brand Identity (c) Brand Personality (d) Brand Salience and (e) Brand Leverage? Support each concept with an example? a. Brand Image : Desired outcome of effective positioning is a distinctive image that a brand occupies in consumer consumer minds. It is the essence of the brand Due to extensive number of brands fulfil consumer needs, they rely on the brand image and claimed benefits in the purchase decisions. Ex. Research in Motion’s BlackBerry devices had an image of work phone and suffered lost sales due to people’s preferences for exciting smartphones. b. Brand Identity: It can be defined as how an organisation wants itself to be seen by its consumers. It can be built by analysing itself and the industry environment, determining the key business goals, identifying its customers, and determining the personality and message it wants to communicate. Ex. If asked about Bose Corporation, most people would reply with headphones, which is their major business line. c. Brand Personality: is a set of human characteristics attributed to a brand name. It is something to which the consumers can relate. The personality is a qualitative value add that a brand gains, in additional to its functional benefits. It can also be defined as a framework that helps an organisation shape the way people feel about its product, service or mission. There are majorly 5 types of brand personalities; excitement, sincerity, ruggedness, competence and sophistication. Ex. The automobile company Jeep exhibits a ruggedness and excitement personality due to its ability to manoeuvre all terrains while Rolex has a sophisticated personality.
d. Brand Salience: is the degree to which your brand is thought about or noticed when a customer is in a buying situation. It is different from top of the mind awareness in the sense that while top of the mind awareness comes into play when a consumer is asked about brands in general, brand salience comes into play when a consumer has a set parameter of brands which will be considered. Ex. People when purchasing diapers almost instantly think of Pampers due to the salience it has established in the minds of the consumer. e. Brand Leverage: uses the power of existing brand to support company’s en trance into a new product type which is related to the existing product. It communicates important communication about the product. It is important as it provides a sense of familiarity to the customer. Instant recognition of the brand is established as well. Ex. Bic is known for its excellent plastic products at a low cost. It started with pens. It was well positioned to introduce products that capitalised on these strengths and launched cigarette lighters and disposable razors as well Q2. Explain Keller’s Brand Equity Model and how is it different from Aaker’s Brand Equity model. Discuss both models by selecting an appropriate brand? Keller’s Brand Equity model , better known as Customer based brand equity model
states that in order to build a strong brand, you must shape how customer thinks and feels about your product. It states that it is equally important to have rational and emotional judgement to reach resonance which creates strong brand equity. This leads to more purchases from consumers, they will spread positive word of mouth, and you are less likely to lose them.
Ex. If we take the example of Barbie, we can see the Keller’s brand equity model at work through the following way: Resonance: Role model for girls aged 3-6 through the years Feelings: Judgements: Parents are now made aware what children think while playing “You can be anything campaign ” with a Barbie Performance: Playtime for girls after Imagery: Barbie for every segment, every school hours. Worked on safety hazards ethnicity. after reports of chemicals posed risks Rational Route Emotional Route Brand Salience: Barbie is evoked whenever doll is mentioned
Aaker’s Model on the other hand, defines brand equity as the set of brand assets and liabilities linked to the brand – its name and symbols – that add value to, or subtract value from, a product or service. It also propagated the theory that brad equity is a combination of brand awareness, brand loyalty, brand associations, which add up to give the value a product or service provides.
Brand Equity
B. Loyalty
B. Awareness
Perceived Quality
B. Associations
Other Proprietary Assets
Ex. Brand Equity of Taj Mahal Hotel is unparalleled in India and can be explained through the parameters: Brand Loyalty: One of the aspects of Brand Loyalty is that there is not much expenditure on advertising. There was only one advertisement by Taj Hotel when it relaunched the Taj Mahal Hotel post the Mumbai terror attack in 2008. Brand Awareness: Taj Mahal Hotel is one of the first names in brand awareness when it comes to luxury hotels in India. Perceived Quality: The name of Tata is associated with Taj Mahal Hotel and in India, that name stands for quality and trustworthy products. Brand Associations: The attributes which come to mind about Taj Mahal Hotel is that of unparalleled luxury, Indian pride and the customer experience of the people who have stayed there.
Q3. What is difference between Name, Brand and Power Brands? Support each concept with practical example? Name = Recognition + Awareness Brand = Name + Tangible benefits + Intangible Benefits+ Premium Prices Power Brands = Brands + Personality + Presence. All the above concepts can be explained with the example of Barbie Dolls.
Q4. What is Brand Resonance in Marketing? Explain with an example? Brand Resonance refers to the relationship a consumer has with the relationship and ho well he can relate with it. The resonance is the intensity of consumers’ psychological connection with the brand and the randomness to recall brand in different consumption situations.
As seen above in Keller’s Brand Equity Model, Brand Resonance can be built through two routes: the rational path (Salience the emotional path (Salience
Performance Judgement Resonance)
or
Imagery Feelings Resonance).
An example of Brand Resonance can be taken of BMW which has established a resonance within the premium segment of passenger vehicles. The diagram below explains the rational and emotional paths to brand resonance for BMW.
Resonance: Attachment , loyalty , Sense of Community
Judgements: High
Feelings: Sense of
Performance, Prestige Unparalleled
Achievement, confidence, sense of
quality
superiority
Performance: High
Imagery: Elegance,
safety features, powerful engines,
Luxury, Leader , Heritage
refined interiors.
Salience: Premium luxury car manufacturer with a logo that commands 45 % Top of mind awareness and 100 % brand recognition
