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1409315388 Brand Equity Essay

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From Products to
- Creating Brand Equity

From Products to Brands

What is a brand?

“What’s in a name? that which we call a rose
By any other name would smell as sweet.”
- William Shakespeare, Romeo and Juliet

“Shakespeare was wrong. A rose by any other name would not smell as sweet … which is why the single most important decision in marketing of perfume is the name.”
- Al Ries and Jack Trout

Brand Equity: Key Elements &

Key elements of brand equity
– Brand name: Awareness and associations
– Perceived quality – actual quality:
• A brand conveys information about the product
– Brand loyalty

What is the value of brand equity in the market?
– Product differentiation
– Price premium over unbranded alternatives
– Barriers to entry
– Ability to extend brand name to other categories
– Leverage in distribution channels


A name, term, sign, symbol
or design, or a combination of them,
intended to identify the goods
or services of one seller or group
of sellers and to differentiate
them from those of competitors.

An Effective Brand Name
 Is easy to pronounce
 Is easy to recognize and remember
 Is short, distinctive, and unique
 Describes the product, use, and benefits
 Has a positive connotation
 Reinforces the product image
 Is legally protectable

Attributes of Strong Brands
• Excels at delivering
desired benefits
• Stays relevant
• Priced to meet
perceptions of value
• Positioned properly
• Communicates
consistent brand

• Well-designed brand
• Uses multiple
marketing activities
• Understands
• Supported by
• Monitors sources of
brand equity

The Role of Brands
Identify the maker
Simplify product handling
Organize accounting
Offer legal protection

The Role of Brands

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