Brand equity is a financial valuation of the firm’s brand contribution to profit. Most brand equity valuation firms – such as Millward Brown (as discussed in the link below) – look at brand equity on economic use basis. So what is an economic use basis? Economic use in the brand equity valuation is the proportion … Read more…
When it comes to brand development, there are four main brand approaches, as shown in the following diagram. As you can see, this diagram is a matrix built around the two attributes of existing/new product category and existing/new brand name. This then determines one of the four boxes, namely: Product line extension Multi-brand Brand extension … Read more…
Selecting a brand name One of the key decisions when bringing a new product to market, particularly if it is going to be under the umbrella of a new brand, is the brand name selection. There are two approaches to brand name selection. The first approach is to have a brand name that is somehow … Read more…
Definition of a brand A brand can be defined as a name, sign, logo, or design of a product/ service or a firm designed to identify ownership and to differentiate the offering in the marketplace. What are brand elements? Most products and/or firms will have some sort of brand identity materials. The elements of a … Read more…
In modern-day marketing, brand equity is generally highly sought-after. Brand equity can deliver financial benefits to the firm – primarily through greater market share, price premium, and increased customer loyalty. There are multiple decisions to be made however, when introducing a new product into the marketplace. This particular article provides an overview of this process, … Read more…
Customer journey mapping is techniques that relies upon identifying and sequencing the touchpoints (exposures and interactions) that consumers (potential customers) and actual customers have with the brand. Therefore, as a simple definition for what is a brand touchpoint? A brand touchpoint can be considered as any interaction or exposure that a consumer has with a … Read more…
Customer journey mapping is a visual technique designed to outline how: The brand reaches a consumer’s consideration (evoked) set How the consumer progresses through the buying decision process and selects a suitable brand, and The consumer progresses through consumption and/or use of the product or service. When to use customer journey maps? Because of … Read more…
The following is a list of possible brand touchpoints for Apple. Brand touchpoints are a key aspect of understanding the customer journey and creating a customer journey map. In recent years, Apple has become one of the strongest brands in the world. Understanding brand touch points and customer journey mapping a helpful techniques to … Read more…
Brand touchpoints can be defined as the interactions and exposures that a consumer can have with a brand. Brand touchpoints are very broadly defined and include both deliberate communications from a firm/brand and communications and interactions that the consumer will have with the brand as part of their everyday life. They are often used in … Read more…
