Textbook Notes (368,241)
Canada (161,733)
Marketing (884)
MKT 510 (65)
Ida Berger (52)
Chapter 8

Chapter 8.docx

3 Pages
148 Views
Unlock Document

Department
Marketing
Course
MKT 510
Professor
Ida Berger
Semester
Fall

Description
Chapter 8— developing a Brand equity Measurement & Management System  CBBE is the differential effect that knowledge about the brand has on customer response to the marketing of that brand, 2 basic approaches to measuring brand equity o Indirect approach: can assess potential sources of CCBE by identifying & tracking consumers brand knowledge  Thoughts, feelings, images, perceptions, beliefs linked to the brand o Direct approach: can assess the actual impact of brand knowledge on consumer response to different aspects of the marketing program  Brand equity measurement system: is a set of research procedures designed to provide marketers with timely, accurate, & actionable info on brands so they can make the best possible tactical decisions in the short run & strategic decisions in the long run  Brand value chain: means by which marketers can trace the value creation process for their brands to better understand the financial impact of their marketing expenditures & investments The new Accountability  Virtually every marketing dollar spent today must be justified as both effective & efficient in terms of “return of marketing investment” (ROMI).  Some observers believe that up to 70% (or even more) of marketing expenditures may be devoted to programs & activities that cannot be linked to short-term incremental profits, but yet can be seen as improving brand equity. The brand value chain  Broader perspective than just the CBBE model  Brand value chain: a structured approach to assessing the sources & outcomes of brand equity & the manner by which marketing activities create brand value. Marketing Program Investments  Any marketing program that can be attributed to brand value development  the ability of a marketing program investment to transfer or multiply farther down the chain depends on qualitative aspects of the marketing program & the program quality multiplier Program Quality Multiplier  The ability of the marketing program to affect customer mindset Customer Mind-set  In what way have customers been changed as a result of the marketing program?  Brand value is created at this stage when customers have o Deep, broad brand awareness o Appropriately strong, favourable, & unique POP & POD o Positive brand judgements & feelings o Intense brand attachment & loyalty o A high degree of brand activity  The ability of this customer mindset to create value at the next stage depends on marketplace conditions Marketplace conditions multiplier  The extent to which value created in the minds of customers affects market performance Market performance  How do customers respond in the marketplace?  Brand profitability: combination of price premiums, price elasticity, market share, brand expansions, cost structure  The ability of the brand value created at this stage to reach the final depends on the investor sentiment Investor sentiment multiplier  The extent to which the value generated through brand market performance is manifested in shareholder value Shareholder value  Based on all available current & forecasted info about a brand, the financial marketplace formulates opinions & assessments that have very direct financial implications for the brand value Brand Equity Measurement System  A set of research procedures that is designto provide timely, accurate, & actionable info for marketers so that they can make the best possible tactical decisions in the short run & strategic decisions in the long run  Brand tracking o Info collected from consumers on a routine basis over time o Often done on a continuous basis o Provide d
More Less

Related notes for MKT 510

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit