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19 Cards in this Set
- Front
- Back
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Leveraging Secondary Associations
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A step in building customer-based brand equity to create/add awareness, meaningfulness and transferability
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Results
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1. Creation of new brand associations
2. Effects on existing brand knowledge a. Awareness and knowledge of the entity b. Meaningfulness of the knowledge of the entity c. Transferability of the knowledge of the entity |
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Guidelines
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a. Commonality – congruent with desired brand association
b. Complementarity – few common or similar associations with the entity |
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Ways to create secondary associations
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i. Companies (branding strategy)
ii. Countries or other geographic areas (product origin) iii. Channels of distribution (channel strategy) iv. Other brands (co-branding) v. Characters (licensing) vi. Spokespersons (endorsement) vii. Events (sponsorship) viii. Other third-party sources (awards, reviews) |
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i. Companies (branding strategy)
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a. Create a new brand
b. Adopt or modify existing brand c. Combine existing with new |
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ii. Countries or other geographic areas (product origin)
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a. Leveraging on the image of the area or expertise
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iii. Channels of distribution (channel strategy)
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a. Leveraging on the image of the store/retailer etc
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iv. Other brands (co-branding)
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• Linking to another brand
• Two or more existing bands combined into a joint product or marketed together a. Advantage b. Disadvantages c. Guidelines d. Ingredient branding |
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a. Advantage
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• Borrow needed expertise
• Leverage equity that you don’t have • Reduce cost of product introduction • Expand brand meaning into related category : broaden meaning & increase access points • Source of additional revenue |
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b. Disadvantages
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• Loss of control
• Risk of brand equity dilution • Negative feedback effects • Lack of brand focus and clarity • Organizational distraction |
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c. Guidelines
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• Both have adequate brand awareness
• Strong favourable unique associations • Positive consumer J & F • Both have potential brand equity • Logical fit (complementing) |
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d. Ingredient branding
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• Creates brand equity for materials, components, or parts that are necessarily contained within other branded products (Dolby)
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v. Characters (licensing)
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a. Contractual agreements whereby irms can use names, logos, characters etc of other brands to market their own brands for some fixed fee
b. Corporate trademark licensing c. Benefits: • Lucrative for the licensor • Legal protection for trademarks d. Risk: • Overexposure • Consumer confusion when they can’t make connection • Product fails |
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vi. Spokespersons (endorsement)
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a. Using well-known and admired people to promote products
b. They can draw attention and shape perceptions c. Transfer of fans from endorser to brand d. Reason e. Potential problems f. Guidelines |
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Reason
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• Celebrity must be well enough known
• High level of visibility • Set of potentially useful associations, J&F • Credible in expertise, trustworthiness and likeability/attractiveness |
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Potential problems
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• Celebrity endorses too many (dilution)
• Reasonable match between celebrity & product • Celebrity gets into trouble or loses popularity • Endorsing only for money • Celebrities are bastards and ******* • Celebrity may distract attention (video vampire) • Brand over-relying on celebrity |
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Guidelines
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• Celebrities must be relevant
• Logical fit between brand and person • Creatively use celebrity to highlight association and encourage transfer of popularity • Marketing research to identity potential endorser |
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vii. Events (sponsorship)
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• Transfer from event to brand in terms of credibility
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viii. Other third-party sources (awards, reviews)
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• Transfering ‘endorsement of quality’ from credible sources (eg magazines, etc)
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