ADPR 3100 Lecture Notes - Lecture 6: Brand Equity, Regional Policy Of The European Union, New Idea

• School: University of Georgia
• Department: Advertising and Public Relations
• Course: ADPR 3100
• Professor: Evans

Document Summary

Why are brands valuable: they differentiate and give us instant recognition. The most important factor in determining the actual value of a brand. It is the value that stakeholders (consumers, distributors, salespeople, etc. ) think and feel about a brand relative to the competition. Strategic planning: key parts: brand equity audit analysis. What/where is our brand now: strategic options and rec. How do we change our brand to achieve our goals: brand equity research. What specific aspects of the brand do we want to change: creative brief. Advertising in this stage introduces an idea that makes previous concepts appear dated/antiqued. Until people appreciate the fact that they need it, a product is in the pioneering stage. Communications objective: create awareness, educate consumers, show that a product exists. Once they accept the product, they will attract the competition. Superiority over other brands needs to be established to gain preference. Products reaching maturity and wide scale acceptance may enter this stage.