MODULE-4

BRAND AWARENESS
Brand awareness is a measure of how well consumers know and recognize the
brand. It is a fundamental part of any marketing strategy. It refers to the familiarity
of consumers with a particular product or service.
Brand awareness is the beginning of a consumer’s interest in a product or service.
It is the first step on the path to purchase, as well as the starting point of their
relationship with a brand. Brand awareness, or recognition, refers to customers’
ability to recognize a product or service by name.
A business’s brand is much more than just a logo or a tagline. It’s a combination of
what products they sell, how they tell their story, their aesthetic, the customer
experience they deliver, what the company stands for, and more.
Types of brand awareness
These are different ways to help your customer identify your brand. Here are the
different and common types of brand awareness.
1. Brand recall
Brand recall is defined as a customer’s ability to elicit a brand name from their
memory as a result of a prompt by a product category. If a consumer hears the
word “airlines” (a product category in this case), it should bring specific brand
names to mind.
For example, in the non-alcoholic beverage category, three likely brand recalls
would be Coke, Pepsi, and Sprite. The effectiveness of branding depends on
marketing strategy, advertisements, and the catchiness of phrases, product
visibility and brand ambassadors.
2. Brand recognition
While walking around in the supermarket, consumers immediately distinguish
between products and choose the one they want to buy; that is brand recognition.
Brand recognition is an indication of the fact that a brand is reaching its target
market. A larger number of customers could easily recognize a brand when aided
when compared to accurately remembering a brand name when they only have the
product category.
3. Top-of-mind awareness
 What exactly is top-of-mind brand awareness? This is defined as the first brand
that comes to a customer’s mind when they are asked an unprompted question
about a product category. It is a response that is “off the top of your head”.
When the same concept is applied to a larger group of consumers, it is then
referred to as the most remembered or most recalled brand name. Sometimes, there
can be many recalled brand name.

4. Brand dominance
When consumers can recall only one trademark in any product category, It is
called the top of the mind awareness. With such market dominance, consumers
associate the entire product category with the brand, and the brand becomes the
product.
For example, when it comes to Jeans, the only brand most people can recall is
Levis. Most would know its brand ambassador, the advertisements, and even the
song played in the ad It indicates that consumers trust that brand. That is brand
dominance.
BRAND IMAGE
Brand image is an impression, view or a perspective the customers form about a
particular brand in their mind which is developed over a certain time period
through product experience and the brand identity created by companies. Brand
image can be defined as how existing or potential customers view the brand and
associate with it. It is something that eventually forms in the mind of the customer
and may be same as brand identity or may be totally opposite.
Brand image depends upon how customer forms it in his or her mind. It may
depend on internal as well as external factors. It may or may not be necessary to
actually buy that particular product or directly visit the brand store to form the
brand image. It can be influenced by other people and their experiences as well.
Brand image is dependent on time also but can be altered based on a single
experience which may be very good or the opposite. Mostly brand image is formed
over a period of time through multiple experiences, views, opinions and facts.
Types of Brand Association
1) Association based on attributes
 A descriptive feature of a brand or a product or service which characterizes it is
called an association based on attributes. It is this feature or attributes that the
company promotes heavily and stands out against the competition. This, in turn,
helps the customers in brand recall and helps them to associate with the product in
the market which further, in turn, has an upper hand in making the purchase
decisions.
For example, the slogan of M and M which is “It melts in your mouth and not in
your hand.” Or “Take Care” of Garnier. The description of the specifics helps
customers to associate with the brand with its primary characteristics and creature
long-lasting association in their minds. if the brand association is successful the
customers remember and recall the specific brand quality even years after this
login was popularized in the market.
2) Brand Association based on benefits
As the name describes it is the benefits of the product or the brand that associates
customers with it. These benefits can be functional which relate to specific product
or service or they can also be experimental in nature which is describing feelings
of customer wise using the product or service.

3) Attitudes based Brand Association

The brand attitudes are determined by customers after the overall evaluation by
them. This association is quite abstract and more often than not, can be related to
the product attributes including the benefits. These attitudes can also be linked to a
specific lifestyle such as fitness oriented, environmentally conscious or a celebrity
in sports or entertainment.
The best example would be Nike which is a fitness-based apparel company that
uses endorsements from celebrities to establish a brand association for the different
product lines in the minds of the customers.
4) Brand Association by interest
Interest is used as an association factor by many companies for their customers. It
is the basic parameter that is used and appeals intellect or consciousness of the
customers. The primary objective of the company is used to generate interest in the
minds of the customer and Page 7 of 12 positions the brand accordingly which in
turn would mean that the brand is of interest for the customer.
5) Brand association by celebrity
This is the most common type of brand association used to promote the products.
The image of a celebrity is used to push the products in the minds of the customer
and thus it helps to sell your product. Careful selection of celebrities is done to
associate with a particular brand.
For example, a beauty brand would always be associated with a female actress of a
younger age while a product like a wrinkle lift creams would be associated with a
celebrity who is relatively older. Similarly, a sports brand would be associated with
sports person or a fitness celebrity or some other model. On the other hand, brands
like Rolex would be associated with business tycoons or celebrities who are in the
business field for a long time.

MODULE-5
Brand Equity
Brand equity refers to a value premium that a company generates from a product
with a recognizable name when compared to a generic equivalent. Companies can
create brand equity for their products by making them memorable, easily
recognizable, and superior in quality and reliability. Mass marketing campaigns
also help to create brand equity.
When a company has positive brand equity, customers willingly pay a high price
for its products, even though they could get the same thing from a competitor for
less. Customers, in effect, pay a price premium to do business with a firm they
know and admire. Because the company with brand equity does not incur a higher
expense than its competitors to produce the product and bring it to market, the
difference in price goes to their margin. The firm's brand equity enables it to make
a bigger profit on each sale.
Customer based Brand Equity
Customer-based brand equity (CBBE) is built on the concept that to build a strong
brand – it is important to understand how the customers think and feel about your
product. For a customer to love your product, you must build pleasant experiences
around your brand. If they experience positive thoughts, opinions, feelings, and
perceptions about your product, then it signals positive brand equity.
Customer-based brand equity shows the power of a customer’s attitude towards a
brand, and how it can lead to the success or failure of a brand. It emphasizes laying
a strong foundation that can create a positive attitude towards a brand.
Customer-Based Brand Equity Model (Keller Model)
The most popular CCBE model is the Keller Model, which was designed by Kevin
Lane Keller, Professor of Marketing, and was published in his book, Strategic
Brand Management.
The CBBE model is based on a pyramid that explains ways to build strong brand
equity by focusing on understanding customers and designing their strategies based
on customers. When there is a strong connection between a brand and its
customers, it gives rise to positive brand equity.

Level 1: Brand Identity

This is the first stage where you need to create brand awareness. In this stage,
people do not identify your brand and cannot distinguish your brand from other
brands. Hence it is necessary to build a strong identity by telling people about your
brand.
Level 2: Brand Meaning
After a brand has been able to capture the attention of the consumers, it is the next
step for the brand to provide more information about the product to its users.
Consumers want to know more about the usage, the problems that it can solve,
how to use the product, etc. In this stage, the customer wants to know more about
the brand.
Brand performance and brand imagery are the two parts of brand meaning.

Brand performance is the most important aspect that can break or build a brand.
Many famous brands, such as Apple, Google, Bosch, etc. have built great brand
equity due to their extraordinary performance.
Level 3: Brand Response
Customers have a certain expectations from a brand, and when it meets
expectations, the customer is happy and shows positive feelings. In case the brand
is able to go beyond the expectations of a customer, the brand will be able to create
delight in the mind of customers. This will lead to recommendations that will
spread the word in the market.

Level 4: Brand Resonance

The final and the most difficult stage is brand resonance. This is a stage where the
brand the customer has built a strong relationship. This is a stage where customers
are highly engaged with the brand, and they are ready to participate in online
forums, social media, similar communities, and any events relating to the brand.
For example, people who use Apple products do not switch to any other brand as
they feel deeply associated with it. Even when the prices are high, they still stick to
their favorite brand and advocate the brand.
BRAND EXTENSION
Brand extension is a strategy where a company creates a new product category
under its well-known brand name. It helps launch new products easily, obtain
higher profit, reduce costs necessary to launch a new business, and meet
customers’ needs and wants.
Why is brand extension important?
Increasingly competitive markets make it impossible for a company to stay ahead
if it doesn’t present something new to its target audience. Entrepreneurs consider
brand extension strategies to increase their market share, become more innovative,
and create a new product category. It’s a critical step that helps boost their business
and engage new leads.
To successfully implement this technique, brands must study and analyze new
trends. With the help of research, companies try to figure out the wants and needs
of their prospective customers to create a product that will satisfy these
requirements. Afterward, they strive to create a product that will be sold under an
established company’s name and remain in high demand.