BU470 Lecture Notes - Lecture 3: Brand Equity
Document Summary
Company capabilities: positioning: for each target segment companies determine a value position the way it will deliver value for its targeted segment of customers. A products position is the way the product is defined by consumers on key attributes as compared to its competitors: which attributes are important (and therefore deserve measurement) varies by category. It"s tempting to focus on price but it"s not always a focal attribute (or key differentiator) Most organizations don"t post them: but since positioning is an act of communicating a distinctive space relative to competitors you should be able to derive a company, product or brands positioning by how it looks, acts and communicates. Brand elements: trade markable devices that serve to identify and differentiate the brand, names, logos, symbols, urls, characters, spokespeople, packaging, slogans, sounds (jingles, smells, colours, fonts, places (stores websites) Criteria for brand elements: memorability, meaningfulness, likability, transferability, adaptability, protect ability.
