This Blog has been created as a forum for Milwaukee School of Engineering, Rader School of Business students to comment on various issues related to the subject matter of our class. The class, "Strategic Branding" is an elective class in the graduate management program. The views expressed are those of the students individually and not of the professor or the university.
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posted by Gene A. Wright @ 9:07 AM
This Blog has been created as a forum for Milwaukee School of Engineering, Rader School of Business students to comment on various issues related to the subject matter of our class. The class, "Strategic Branding" is an elective class in the graduate management program. The views expressed are those of the students individually and not of the professor or the university.
2 Comments:
At its most basic, brand equity, according to noted authority David Aaker is the set of assets and liabilities linked to a brand that add to or subtract from its value to the customer and to the business. Getting true picture of that equity, as he detailed in his Classic Brand Equity, involves identifying the brand associations and levels of customer awareness and loyalty that differentiate it from competitors. This makes interesting and less actionable for day to day strategic decisions and management. Getting there requires a more strategic approach to traditional brand equity tracking. At its basis is the objective of creating an in-depth profile of a brand that, through quantitative modeling, allows for the identification and better understanding of its strategic drivers. In turn, this allows the organization to leverage the brand’s most business relevant aspects better to help drive improved financial performance.
The customer is the key to success. Brand identity must resonate with the consumer. It must deliver on the expectation of the consumer. The identity is how the consumer thinks about the brand. Ideally they will just refer to the product by the brand such as Apple rather than indicating I need a computer. The identity becomes automatic with the consumer, a part of their subconscious.
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