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Marketing Programs To Build Brand Equity

This document discusses strategies for building brand equity through marketing programs. It explains how marketing activities like product, pricing, and distribution strategies can enhance brand awareness, image, responses, and resonance. It then discusses new perspectives in marketing like digitalization, customization, and industry convergence. Some implications for brand management are that marketers are moving from mass-market strategies to more personalized approaches. Relationship marketing, one-to-one marketing, permission marketing, and experiential marketing are discussed as ways to actively involve consumers with a brand. The document concludes by discussing how to integrate the brand into supporting marketing programs through product, pricing, and distribution strategies.

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Mainak Biswas
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120 views20 pages

Marketing Programs To Build Brand Equity

This document discusses strategies for building brand equity through marketing programs. It explains how marketing activities like product, pricing, and distribution strategies can enhance brand awareness, image, responses, and resonance. It then discusses new perspectives in marketing like digitalization, customization, and industry convergence. Some implications for brand management are that marketers are moving from mass-market strategies to more personalized approaches. Relationship marketing, one-to-one marketing, permission marketing, and experiential marketing are discussed as ways to actively involve consumers with a brand. The document concludes by discussing how to integrate the brand into supporting marketing programs through product, pricing, and distribution strategies.

Uploaded by

Mainak Biswas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Marketing programs to build

brand equity
• How do marketing activities in general—and
product, pricing, and distribution strategies in
particular—build brand equity?
• How can marketers integrate these activities
to enhance brand awareness, improve the
brand image, elicit positive brand responses,
and increase brand resonance?
New Perspectives on Marketing
• The strategy and tactics behind marketing programs have changed
dramatically in recent years as firms have dealt with enormous
shifts in their external marketing environments:
• Digitalization and connectivity (through Internet, intranet, and
mobile devices)
• Disintermediation and reintermediation (via new middlemen of
various sorts)
• Customization and customerization (through tailored products
and ingredients provided to customers to make products
themselves)
• Industry convergence (through the blurring of industry
boundaries)
Implications for the Practice of Brand
Management
• They have a number of implications for the
practice of brand management.
• Marketers are increasingly abandoning the
mass-market strategies that built brand
powerhouses in the 1950s, 1960s, and 1970s to
implement new approaches.
• Even marketers in staid, traditional industries
are rethinking their practices and not doing
business as usual.
Personalising marketing
• Relationship marketing has become a powerful
brand-building force.
• Can slip through consumer radar
• May creatively create unique associations
• May reinforce brand imagery and feelings
• Nevertheless, there is still a need for the control
and predictability of traditional marketing activities.
• Models of brand equity can help to provide
direction and focus to the marketing program
Personalizing Marketing Concepts

• Experiential marketing

• One-to-one marketing

• Permission marketing
Reconciling the New Marketing Approaches

• One-to-one, permission, and experiential


marketing are all potentially effective means
of getting consumers more actively involved
with a brand
One-to-One Marketing: Competitive
Rationale
• Consumers help to add value by providing
information.
• Firm adds value by generating rewarding
experiences with consumers.
• Creates switching costs for consumers
• Reduces transaction costs for consumers
• Maximizes utility for consumer
One-to-One Marketing: Consumer
Differentiation
• Treat different consumers differently
• Different needs
• Different values to firm
• Current
• Future (lifetime value)
• Devote more marketing effort on most
valuable consumers (and customers)
One-to-One Marketing: Five Key Steps

• 1.Identify consumers, individually and


addressably
• 2.Differentiate them by value and needs
• 3. Interact with them more cost-efficiently
and effectively
• 4. Customize some aspect of the firm’s
behavior
• 5. Brand the relationship
Permission marketing
• Marketing to consumers only after gaining
their express permission
• “anticipated, personal and relevant” - Godin
Experiential Marketing
• Focuses on customer experience
• Focuses on the consumption situation
• Views customers as rational and emotional
elements
• Uses electric methods and tools
Five Steps in Permission Marketing
.

1.Offer the prospect an incentive to volunteer.

2.Offer the interested prospect a curriculum over time , teaching consumers


about the product.
.

3.Reinforce the incentive to guarantee that prospect maintains the


permission.

4. Offer additional incentives to get more permission from the consumer.

5. Over time, leverage the permission to change


consumer behavior toward profits.
Integrating the Brand
Into Supporting Marketing Programs

• Supporting marketing mix should be designed


to enhance awareness and establish desired
brand image.

• Product strategy
• Pricing strategy
• Channel strategy
Product strategy
• “At the heart of a great brand is invariably a
great product”
• How do consumers form their opinions of the
quality and value of a product?
• How can marketers use the relationship
marketing perspective in formulating product
strategy and offerings?
Product & service benefits
• 1. Functional benefits: Product and
performance attributes
• 2. Process benefits: ease of access to product
information; broad product selection; convenient
transactions
• 3. Relationship benefits: personalized service; strong
emotional relevance; loyalty rewards

• “By improving the fuller customer experience, companies can


keep consumers happier and hold on to them longer”-Mckinsey
Perceived quality & value
Dimensions of Quality: Brand Intangibles
.• Performance • speed, accuracy,
• Features delivery and
• Conformance Quality installation,
• Reliability • courtesy, helpfulness of
• Durability Customer service and
• Serviceability training.
• Style and Design
Pricing strategy
• Consumers willing to pay price premiums ,
when there is a perceived added value =
Stronger brands
• Aspects of pricing Strategy :
• 1. Price perceptions
• 2. Setting prices
Pricing strategy
• Consumers rank brand according to prices
• Price Bands = range of acceptable prices
• price - product meaning - value and quality
they received
8 steps to better pricing
• 1. Assess what value the customer places on your
brand
• 2. Look for variation in assessing customers value
• 3. Asses customers price sensitivity
• 4. Identify an optimal pricing structure
• 5. Consider competitors reactions
• 6. Monitor prices at a transaction level
• 7. Asses customer emotional response
• 8. Analyse if the returns are worth the cost

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