【文章內(nèi)容簡(jiǎn)介】 ed in the chapter? How are they similar? How are they different? Can you construct a brand equity model that incorporates the best aspects of each model? Suggested Response:Brand equity depends on three main factors: the initial choice for the brand elements or identities making up the brand, the way the brand is integrated into the supporting marketing programs。 the associations indirectly transferred to the brand by linking the brand to some other entity. Brand equity needs to be measured and managed well. Branding strategy identifies which brand elements a firm chooses to apply across the various products it sells. Brands play a number of roles within a brand portfolio: expand coverage, provide protection, extend an image, or fulfill a variety of other roles as dictated by the firm’s strategy. Their similarity rests in their execution and the overall strategic direction of the firm. Their differences lie in the “role” designated for each brand. As long as the firm identifies and maintains a consistent “role” for each of its brands, the brand portfolio will and can maximize coverage and minimize brand interactions and overlaps. If the firm does not maintain a consistent “role” for each brand it runs the risk of destroying brand integrity. A brand equity model that incorporates the best aspects of each model bees the challenge and the “art” of marketing. In such a model, each brand contains its own identity, has an integrated marketing program designed around such identity, and has the associations consistent with its identity. Additionally, the brand has a strategy that defines its positioning within the market and the firm, has a strategy that has defined its “role” within the corporate structure with a welldefined positioning statement, and maximizes coverage with minimal brand interference and cannibalization of other corporate brands. MARKETING SPOTLIGHT—Procter amp。 GambleDiscussion Questions:1) What have been the key success factors for Procter amp。 Gamble? a. The key success factors for Pamp。G have been in the areas of: customer knowledge, longterm outlook, product innovations, quality strategy, lineextension strategy, brandextension strategy, multibrand strategy, heavy advertising and media pioneer, aggressive sales force, effective sales promotions, petitive toughness, manufacturing efficiency and cost cutting, and the brandmanagement system. 2) Where is Procter amp。 Gamble vulnerable?a. Continuing to excel at and in all of these areas simultaneously and petitive threats from new emerging markets and/panies3) What should they watch out for?a. Rapid changes to their target markets (demographic changes, psychological changes, etc.) The rapidly emerging customer buying changes and the degradation of their brands4) What remendations would you make to Procter amp。 Gambles senior marketing executives going forward? a. Do not get placent or overly fortable with their successes. Continue best practices but do not overlook new smaller emerging marketing opportunities. 5) What should they be sure to do with their marketing? a. Continue to build brands through the brand management system perfected by them. Avoid temptation to rely on past consumer “capital” by not reinvesting in new products or product improvements for the brands they manufacturer. Continuously, review and explore changes in consumer buying habits and practices. DETAILED CHAPTER OUTLINE Building a strong brand requires careful planning and a great deal of longterm investment. At the heart of a successful brand is a great product or service, backed by creatively designed and executed marketing. Perhaps the most distinctive shill of professional marketers is their ability to create, maintain, enhance, and protect brands. Strategic brand management involves the design and implementation of marketing activities and programs to build, measure, and manage brands to maximize their value. The strategic brand management process involves four main steps: Identifying and establishing brand positioning. Planning and implementing brand marketing. Measuring and interpreting brand performance. Growing and sustaining brand value. Review Key Definition here: strategic brand managementWHAT IS BRAND EQUITY? The American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or a bination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of petitors.” A) A brand is thus a product or service that adds dimensions that differentiate it in some way from other products or services designed to satisfy the same need. B) These differences may be functional, rational, or tangiblerelated to the product performance of the brand.C) They may also be more symbolic, emotional, or intangiblerelated to what the brand represents.The Role of Brands Brands identify the source or maker of a product and allow consumers to assign responsibility to a particular manufacturer or distributor. A) Consumers learn about brands through past experiences with the product and its marketing program.B) Brands perform valuable functions for the firm. C) Brands can signal a certain level of quality so that satisfied buyers can easily choose the product again.D) Brand loyalty provides predictability and security of demand for the firm and creates barriers to entry for other firms.E) Branding can be seen as a powerful means to secure a petitive advantage F) To firms, brands thus represent enormously valuable pieces of legal property that can influence consumer behavior, be bought and sold, and provide the security of sustained future revenues to their owner. Review Key Definitions here: brands and brand identity The Scope Of Branding How then do you “brand” a product? A brand is a perceptual entity that is rooted in