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Brana Equity And Brand Extension Essay

2638 words - 11 pages

Brand Name or Brand Umbrella (marjonel and fatima)

Customers used to a brand would take the other product under the same of it and the same level of quality and provide similar type of satisfaction to them.

Brand

It is defined as “a set of images and associations linked to a commercial product”.

Brand Special Features

* Brand distinguishes the product from similar other products.
* Brand creates specific customer needs and expectations of their fulfillment.
* Brand can predict buyers’ behaviour of buying the product or just avoiding it.

Brand Equity

It can be defined as the “stored value built up in a brand for achieving competitive advantage.”

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Product Personality Image
* Product specifications and design
* Packaging
* Technology
* Sales team
* Advertisements
* Target market segment
* Product applications and usage

Recipe Dimension of Ragu Pasta Sauce:

* It is a rich thick sauce
* It contains only tomatoes
* It is sweet taste
* It has added spices that enhance its taste
* It uses only fresh ingredients

Character of the Sauce that can be Describe:

* It is Italian
* Experts in tomatoes make it
* The manufacturers are the pioneers in the field of sauce-making
* The sauce is considered as sophisticated and contemporary

Marketing Research Team
They use projective techniques during questionnaire filling time by giving respondents key metaphors for describing the product.

Metaphors
The application of a word or phrase to somebody or something that is not meant literally but to make a comparison, for example, “somebody is a snake”.
Metaphors are all languages that involve figures of speech or symbolism and does not literally represent the real thing.
Metaphors can be the things used or considered to represent another thing.

Projective Techniques

A method of structured disguised questions is the use of projective techniques.
In the technique, no direct questions are asked on the subject.

Summarized of Projective Technique

1. Unclear stimulus
2. Incomplete stimulus
3. Interpretation of response important
4. No direct question
5. Answer are projected in vague stimulus
6. Answer based on true beliefs, attitudes

Types of Projective Techniques

1. Comment on third person’s behaviour
2. Word association
3. Benefit stepladder
4. Sentence completion
5. Story completion
6. Story making
7. Cartoon blurbs
8. Third person technique
9. Picture response
10. Fantasy narration
11. Metaphors
12. Personification
13. Consumer drawings
14. Thematic Apperception Test
15. Problems of Projective Technique

Causes of Errors

* Mostly non-probability sample add to errors
* Respondent’s unwillingness
* Interpreter’s bias

Building Brand Loyalty

The business theory associated with building brand loyalty starts with the information about who are the customers, where is the market, what satisfaction the customers are looking for, and how much they are willing to pay for the same.

Positioning of Product in the Market Place

* Find out the right market segment for the product
* Focus the 4P’s directly towards the selected segment.
* Offering surprise gifts, extra unasked for guaranty and replicating these every time a purchase is made can strengthen brand loyalty.

Sales Promotion

It is an important role in building brand loyalty.

Activities in the Declining Stage of Brand Loyalty

Understanding the reasons for declining with the help of marketing...

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