Brand Awareness – is assets that can be extremely durable thus sustainable. It can be very difficult to dislodge a brand that has achieve dominant awareness level.
Brand Loyalty - An existing base of loyal customers provides enormous sustainable competitive advantages. It reduces the marketing costs of doing business, since existing customers usually are relatively easy to hold.
Brand Associations- Anything that is directly or indirectly linked in the consumer’s memory to a brand. Product attributes and customers benefits are the associations that have obvious relevance because they provide a reason to buy.
Example:
BRAND ASSOCIATIONS
Calvin Klein, Jaguar Design
Nike The Experience
Organization Intangibles
Emotional and self-Expressive Benefits – relate to the ability of the offering to make the customer feel something during the purchase of use experience.
Safe in Volvo
Exhilarated in a BMW
Energized when watching MTV
Healthy when drinking evian
Warm when buying reading a hallmark card
Self expressive benefits – reflect the ability of the purchase and use of an offering to provide a vehicle by which a person can express him or herself to illustrate, a person might express a self-concept of being
The role of brand Identity
- The need to articulate a brand identity and position introduce discipline and clarity into the strategy formulation process. The ultimate strategy is usually more precise and elaborated as a result. However, the brand identity and position have other, more explicit roles to play.
Multiple Brand Identities
- Arbitrarily insisting that a brand identity should apply to all products or market segments can be