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Marketing (Fach) / Leveraging Secondary Brand Associations to Build Brand Equity (Lektion)

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• Conceptualising the leverage process ·         brands may be linked to entities that have their own knowledge structures in the minds of consumers ·         consumer assume or infer that some of the associations that characterize the other entities may also be true for the brand ·         the brand borrows brand knowledge and perhaps brand equity from other entities                   →  Secondary brand associations may be quite important to creating strong, favorable and unique associations if existing brand associations or responses are defined in some way → It can also be an effective way to reinforce existing associations and responses in  a new way
• eight main ways to leverage secondary associations > Third-party sources  > Events  > Spokes-persons  >Characters  >Other brands  >Channels of distribution  >Countries or other geographic areas  > companies 
• Creation of New Brand Associations ·         by making a connection between a brand and another entity, consumers form a mental association, judgements, feelings from the brand to this other entity ·         secondary brand associations may affect evaluations of the new product (when lacking either the motivation or ability to judge product-related concerns)
• Effects on existing Brand Knowledge ·         Basic mechanism: Consumers have some knowledge of an entity; when a brand is identified as linked to that entity, consumers infer that some of the associations, judgments, or feelings that characterize the entity may also characterize the brand ·         Cognitive consistency: What is true for the entity must be true for the brand ·         Three factors in predicting the extent of leverage of the brand’s linkage with another company: Awareness, meaningfulness and transferability of the knowledge of the entity → What does others think about the entity? Does any of the affect our brand?
• Transfer of Brand Knowledge Some types of entities are more likely to inherently create or affect certain kinds of brand knowledge than others: ·         events: the creation of experiences ·         people: elicitation of feelings ·         other brands: establishing attributes and benefits
• Guidleines 1. consider consumers awareness of that entity and how the associations judgements or feelings for it might become linked to the brand or affect existing brand associations  2. Choose entities for which consumers have some or even a great deal of similar associations  3. design a commonality leveraging strategy when consumers have associations to another entity that are congruent with desired brand associations  4. Practice complementary branding strategies that can help deliver the desired brand position 
• Secondary association- Company Main branding options exist for a new product: 1.       Create a new brand 2.       Adopt or modify an existing brand 3.       Combine an existing and a new brand                 → existing brands can be related to corporate or family brand → a corporate or family brand can be a source of brand equity → leveraging a corporate brand may or may not be useful
• secondary association - Country of origin and other geographic areas ·         Consumers choose brands originating in different countries based on their beliefs about the quality of certain types of products from certain countries or the image that these brands or products communicate ·         Gucci, Barilla: Italy, Levi’s: US, Chanel: France, BMW: Germany
• secondary association - channels of distribution ·         retail stores can indirectly brand equity through an image transfer process as consumers make associations with these ·         retailers have their own brand images in consumers’ minds because of associations to: Product Assortment, Pricing, Credit Policy, Quality of Service ·         5 central dimensions of a retailers image: Access, store atmosphere, price and promotion, cross-category assortment, within-category assortment
• secondary association: co-branding When two or more existing brands are combined into a joint product or are marketed together in some fashion, for example in food (Milka and Philadelphia), credit card market (Shell and Visa)
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• adv. and disadv of co-branding Adv:  > borrow needed expertise  > leverage equity you do not have  > reduce cost of product introduction  > expand brand meaning into related categories  > broaden meaning  > Increase access points  > source of additional revenue Dis:  > loss of control  > risk of brand equity dilution  > neg. feddback effects > lack od brand docus and clarity  > organizational distraction 
• Ingredient Branding ·         Ingredient branding creates brand equity for materials, components or parts that are contained within other brand products ·         Branded ingredients as a symbol of quality ·         Uniformity and predictability of ingredient brand can reduce risks and reassure consumer ·         can become industry standards and consumers will not want to buy a product that does not contain the ingredient
• Adv / Disadv. of ingredient branding adv:  > greater sales at a higher margin  > more stable and broader customer demand  > better long-term supplier-buyer relationships enhanced revenues > from the standpoint of the manufacturer of the host product the benefit is in leveraging the equity from the ingredient rand to enhance its own brand equity  Dis:  > costs of a supporting marketing communication programs can be high  > loss of control, bc marketing programs for the supplier and manufacturer may have different objectives  > sustainability of the competitive adv. may be uncertain since brands that follow may benefit from consumers increased understanding of the role of the ingredient 
• Ingredient branding must accomplish four tasks 1. con. must perceive that the ingredient matter to the performance and success of the end product  2. consumers must then be convinced that not all ingredients brands are the same and that the ingredient is superior  3. A distinctive symbol or logo must be designed to clearly signal to consumers that the host product contains the ingredient  4. a coordinated program must be put into place so that con. understand the importance and adv. of the branded ingredient. 
• Licensing ·         creates contractual arrangements whereby firms can uses names, logos and characters of other brands to market their own brands for a fixed fee ·         has gained importance in recent years an can be quite lucrative for the licensor ·         can provide legal protections for trademarks as licensing the brand for use in certain product categories prevents other firms from legally using the brand names to enter those categories ·         ex. Walt Disney on of the strongest brands in the world (Disney Toys, Fashion, Food, Stationery)
• Risks of licencing > a trademark may become overexposed if marketers adopt a saturation policy  > consumers may not know the motivation or marketing arrangements behind a product and can become confused if the brand is licensed to a product that seemingly bears no relation  3. id the product fails to live up to consumer expectations the brand name could become tarnished 
• Guidelines: Steps firms should take to protect themselves in licensing agreements 1. obtain licensing rights to a broad range of licensed entities to diversify the risk  2. Develop unique new products and sales and marketing approaches so that sales are not merely a function of the popularity of other brands  3. conduct marketing research to ensure that proper match of product and licensed entity or to provide more precise sales forecasts for effective inventory management 
• Corporate Trademark Licensing ·         licensing of company names, logos or brands for use on various, often unrelated products ·         firms may license corporate trademark to generate extra revenue and profits, protect their trademarks, increase their brand exposure, enhance their image ·         risks: Product may not live up-to the image establishing by the brand inappropriate licensing can dilute brand meaning with consumers and marketing within in the organization
• g. Celebrity Endorsement ·         Celebrity endorsement refers to the use of well-known and admired people to promote products. ·         draws attention to a brand and shape the perception of the brand, by virtue of the inferences that consumers make based on the knowledge they have about the famous person ·         a famous person can draw attention to a brand and shape brand perception by virtue of consumers perceptions of the famous person ·         celebrity endorsement should have a high level of visibility and a rich set of potentially useful associations, judgements and feelings ·         ex. Oprah Winfrey: one of the most successful and valuable person brands in the world ·         Factors in order to choose a celebrity endorser: Match with audience, match with product, image, cost, trust, risk, familiarity, likeability
• Q Srore > measure consumer appeal of performers, brand ambassadors, influencers, characters, licenced properties and brands % of respondents who indicate that a person is one my favourites / % of "" who indicate that they have heard of that person 
• Problems of using celebrities ·         celebrities can endorse many products, lack of specific product meaning ·         must be a reasonable match ·         can lose popularity or just fail to live up the expectations ·         consumers may feel that celebrities are doing the endorsement only for the money and do not believe in or use the brand ·         ex. Tiger Wood numerous endorsements, Kate Moss was dropped by a number of companies and brands when seen consuming drugs
• . Sporting, cultural or other events ·        events have their own set of associations that may become linked to the sponsoring brand they contribute to brand equity by becoming associated to the brand and improving brand awareness adding new associations and improving existing associations ·        credibility ·         ex. Qantas major sponsor of sport events
• i. Third party source ·         Creation of secondary associations by linking the brand to third-party sources ·         The company that makes the product, where the product was made, where the product is purchased, related people places or things ·         the extent to which an entity can be leveraged as a source of equity depends on consumer knowledge of the entity and how easily the appropriateness associations or responses to the entity transfer to the brand ·         ex. Grey Goose, Fly Beyond (world’s best taste vodka)
• Guidelines celebrity spokespeople 1. choose a well-known and well-defined celebrity whose associations are relevant to the brand and likely to be transferable  2. make sure that there is a logical fit btw the brand and the person and that the celebrity is not linked to too many other brands  3.  the advertising and communication program should use the celebrity in a creative fashion that highlights the relevant associations  4. marketing research must help identify potential endorser candidates, facilitate the development of the marketing program, and track its effectiveness 

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