BM Resonance and Value Chain

Question 1

4 Steps to building a strong brand

Answer 1

1. Ensure identification of the brand with customers and an association of the brand
2. Firmly establish the totality of brand meaning in the minds of customers
3. Elicit the proper customer responses to the brand.
4. Convert brand responses to create brand resonance and an intense, active loyalty relationship between customers and the brand.

Question 2

Brand Resonance pyramid

Answer 2

Top: Resonance (Loyalty, Attachment, Community, Engagement)

Tier 2:
Judgement (Quality, credibility, consideration)
Feeling (Warmth, fun, excitement)

Tier 3:
Performance (price, primary characteristics, durability)
Imagery (values, history, heritage, user profile)

Tier 4:
Salience
(Category Identification, Needs Satisfied)

Question 3

Sub-dimensions of Brand Resonance Pyramid (Stages of Brand Development)

Answer 3

Bottom to top:

Identity: Who are you?

Meaning: What are you

Response: What about you?

Relationship: What about you and me?

Question 4

Sub-dimensions of Brand Resonance Pyramid (Branding Objective at Each stage

Answer 4

bottom to top

Depp, broad, brand awareness

points of parity and difference

positive, accessible reaction

intense, active loyalty

Question 5

Brand Salience

Answer 5

How easily and often the brand is evoked under various situations or circumstances

Breadth and depth of awareness:
Gives a product identity by linking brand elements to:
 The product category
 The associated purchase
 The consumption or usage situations

Question 6

Strategic implications of brand salience

Answer 6

Brand needs to be top-of-mind and have sufficient mind share:

But also must do so at the right times and places

Question 7

Brand performance

Answer 7

Describes how well the product or service:
o Meets customers’ more functional needs
o Rate on objective assessments of quality
o Satisfies utilitarian, aesthetic, and economic customer needs and wants in the product or service category

Question 8

Attributes that often underlie brand performance?

Answer 8

o Primary ingredients and supplementary features
o Product liability, durability, and serviceability
o Service effectiveness, efficiency, and empathy
o Style and design
o Price

Question 9

Brand Imagery

Answer 9

Brand imagery depends on the extrinsic properties of a product or service

Question 10

4 main kinds of intangibles thatcan be linked to the brand?

Answer 10

1. User profiles
2. Purchase and usage situations
3. Personality and values
4. History, heritage, and user experiences

Question 11

User imagery

Answer 11

One set of brand imagery associations is about the type of person or organization who uses the brand
 Gender
 Age
 Race
 Income

Question 12

Purchase and usage imagery

Answer 12

Associations that tell consumers under what conditions or situations they can or should buy and use a brand

Question 13

Brand personality and values

Answer 13

Through consumer experience or marketing activities, brands may take on personality traits or human values

Question 14

5 Dimensions of brand personality

Answer 14

SECSR

Sincerity
 Down-to-earth, wholesome, cheerful, honest
 E.g., Patagonia

Excitement
 Daring, spirited, up to date
 E.g., tiktok

Competence
 Reliable, successful
 E.g., Amazon, Apple, BMO

Sophistication
 Upper-class and charming
 E.g., Nespresso, any luxury brand

Ruggedness
 Outdoorsy and tough
 E.g., Jeep, MEC, Nalgene

Question 15

Brand Judgment

Answer 15

Customers’ personal opinions about and evaluations of a brand

Consumers form judgments by putting together all the different brand performance and imagery associations

Question 16

Brand Quality

Answer 16

Defined by specific attributes and benefits of a brand

Consumers can hold a host of attitudes toward a brand:

But the most important relates to its perceived quality

Perceived quality measures are inherent in many approaches to brand equity

Question 17

Brand Credibility

Answer 17

Judgments about the company or organization behind the brand

Perceived expertise
 Competence, ability to be a leader, innovative

Trustworthiness

Likability
 Fun and interesting brand

Question 18

What makes up brand credibility?

Answer 18

Perceived expertise
 Competence, ability to be a leader, innovative

Trustworthiness

Likability
 Fun and interesting brand

Question 19

Brand considerations

Answer 19

Unless a consumer gives serious consideration to purchasing, how highly they regard the brand is of little importance

Depends on the extent to which strong and favourable brand associations can be created

Question 20

Brand Superiority

Answer 20

Measures extent to which customers view the brand as unique:
 And better than other brands

Question 21

Brand Feelings

Answer 21

Customers’ emotional responses and reactions to a brand

Brand feelings relate to the social currency evoked by the brand

Feelings can be:
- Experiential and immediate, increasing in level of intensity
- Private and enduring, increasing in level of gravity

Question 22

6 Types of Brand-building feelings

Answer 22

WEFSSS

1. Warmth
2. Fun
3. Excitement
4. Security
5. Social approval
6. Self-respect

Question 23

Brand Resonance

Answer 23

Ultimate relationship and level of identification that a customer has with a brand

Question 24

4 categories of brand resonance

Answer 24

1. Behavioral loyalty
2. Attitudinal attachment
3. Sense of community
4. Active engagement

Question 25

Behavioural Loyalty

Answer 25

Repeat purchases and the amount or share of category volume attributed to the brand

Question 26

Attitudinal attachment

Answer 26

Resonance requires a strong personal attachment
- Going beyond having a positive attitude:
o Viewing the brand as something special

Question 27

Sense of community

Answer 27

Brand may take on a broader meaning by conveying a sense of community

Social phenomenon in which customers feel a kinship or affiliation with others associated with the brand

Question 28

Active engagement

Answer 28

Perhaps the strongest affirmation of brand loyalty

Willing to invest time, energy, money, or other resources beyond those expended during purchase or consumption

Question 29

Brand Building Implications

Answer 29

Marketers can assess their brand’s progress in their brand-building efforts through the brand resonance model:

Question 30

Brand Value Chain

Answer 30

A structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value

1. Marketing program investment

Program quality multiple

2. customer mind-set

marketplace conditions multiplier

3. Market performance

investor sentiment multiplier

4. shareholder value

Question 31

Marketing program investment

Answer 31

Any marketing program investment that can contribute to brand value development

Question 32

Program quality multiplier

Answer 32

DRIVE

o Distinctiveness
o Relevance
o Integrated
o Value
o Excellence
`

Question 33

Customer mind-set

Answer 33

Includes everything that exists in the minds of customers with respect to brand:
- Brand awareness
- Brand associations
- Brand attitudes

Question 34

Marketplace conditions multiplier

Answer 34

Extent to which value created depends on factors beyond the individual customer:
o Competitive superiority
o Channel and other intermediary support
o Customer size and profile

Question 35

Market performance

Answer 35

• Price premiums
• Price elasticities
• Market share
• Brand expansion
• Cost structure; reduced marketing program expenditures
• Brand profitability

Question 36

Investor sentiment multiplier

Answer 36

Financial analysts and investors arrive at their brand valuations and investment decisions through the following:
- Market dynamics
- Growth potential
- Risk profile
- Brand contribution

Question 37

Shareholder value

Answer 37

Financial marketplace formulates opinions and assessments
- Direct financial implications for brand value

Question 38

The brand value chain implications

Answer 38

Value creation begins with the marketing program investment

Value creation requires more than an initial marketing investment

Band value chain provides a detailed road map for tracking value creation