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Cristina M. GarciaMarketing Management

Section 212 May 2010

Chapter 9: Creating Brand EquityCreating Brand EquityTop 10 Concepts with Medical

Applications

OutlineDefinition of Terms (Brand, Brand

equity, Brand promise)Creating Brand EquitySummary

Concept 1:Branding sets a product apart from the rest

Definition

Brand Elements Differences in consumer perception

KEY:

Concept 1:Branding sets a product apart from the rest

Kotler: Marshall Field’s & Macy’s;

Colonial WilliamsburgLocal: Rustan’s, ShoemartRP Medical Application: Belo Essentials,

The Medical City

Definition

Concept 2:Brand equity is the added value of a product or service

Key ingredients:

Definition

PerceptioPerceptions ns preferencpreferenceses

BRAND KNOWLEDGE

Differences in consumer response

Kotler: Apple ComputerLocal: Rustan’s, Powerplant MallRP Medical Application:

DefinitionConcept 2:Brand equity is the added value of a product or service

Concept 3:Brand promise is the vision of the brand for consumers

Brand equity is a bridge towards the brand’s promise

Definition

Kotler: Burger KingLocal: Globe TelecomRP Medical Application:

DefinitionConcept 3:Brand promise is the vision of the brand for consumers

Concept 4:Understanding consumer brand knowledge is the foundation of brand equity

BRAND

Creating Brand equity

Thoughts

Kotler: Volvo, Hallmark, Harley-DavidsonLocal: PALRP Medical Application:

Concept 4:Understanding consumer brand knowledge is the foundation of brand equity

Creating Brand equity

Concept 5:Having the right brand knowledge and right consumers builds brand equity

Creating Brand equity

Kotler: Nike, Avis, Jones Soda,

The Olive Garden, Eli LillyLocal: Shoemart, Shampoo, HavaianasRP Medical Application:

Concept 5:

Having the right brand knowledge and right consumers builds brand equity

Creating Brand equity

Concept 6:Brand equity needs to be measured to be managed well

Creating Brand equity

Brand Audit

Brand-tracking studies

Kotler: noneLocal: Superbrand AwardsRP Medical Application:

Concept 6:

Brand equity needs to be measured to be managed well

Creating Brand equity

Concept 7:Managing brand equity requires a long-term view of marketing actions

Creating Brand equity

Brand Reinforcement Brand Revitalization

Kotler: Harley Davidson, Mountain DewLocal: JollibeeRP Medical Application:

Concept 7:

Managing brand equity requires a long-term view of marketing act

Creating Brand equity

Concept 8:Deciding on how to brand new products is critical in a firm’s branding strategy

Creating Brand equity

Individual names Separate Family Names

BlanketFamily Names

Corporate+ Individual

Product Names

BRAND RELATIONSHIP CONTINUUM

Kotler: General Mills, Heinz, Sears, Kellogg’sLocal: Universal Robina Corporation,

Lamoiyan CorporationRP Medical Application:

Concept 8:Deciding on how to brand new products is critical in a firm’s branding strategy

Creating Brand equity

Concept 9:Most new products are line extensions

Creating Brand equity

Positive Feedback

New product acceptance

Kotler: Groupe Michelin, GoodyearLocal: Universal Robina CorporationRP Medical Application: UNILAB

Concept 9:Most new products are line extensions

Creating Brand equity

Concept 10:Brand portfolios maximize market coverage but minimize brand overlap

Creating Brand equity

Multiple brandsMultiple brandsMultiple segmentsMultiple segments

Kotler: ArmaniLocal: Selecta Ice CreamRP Medical Application:

Executive packages Different room rates

Concept 10:

Brand portfolios maximize market coverage but minimize brand overlap

Creating Brand equity

Great product or serviceCareful planning and long-term

commitmentCreatively designed and executed

marketing

Summary:

A strong brand commands intense customer loyalty

Summary

Cristina M. GarciaMarketing Management

Section 212 May 2010

Chapter 9: Creating Brand EquityCreating Brand EquityTop 10 Concepts with Medical

Applications