Brand Equity Model
The brand equity generates a type of added value for products which help with companies’ long term interests and capabilities. Brand equity is generally accepted as a critical success factor to differentiate companies and service providers from its competitors. Brands with high levels of equity are associated with outstanding performance including sustained price premiums, inelastic price sensitivity, high market shares, and successful expansion into new businesses, competitive cost structures and high profitability all contributing to companies’ competitive advantage. Brand equity models are designed to establish the way in which brand value is created for a brand. Each of the brand equity models offers a deep insight into the brand value concept and the ways to evaluate it. Brand equity models are used to design marketing strategies at various stages. Some of the significant actions that can be taken by using these brand equity models are to improve the perception of a product, to get more loyal customers, to get a competitive edge, etc.
Types of Brand Equity Models – Aaker Model, Keller’s Model, Brand Asset Valuator Model, Brandz Model. Aaker Model defines brand equity as a group of assets and liabilities that can be directly associated with the brand and that which adds value to the product. Aker model consists of 5 components – Brand Loyalty, Brand Awareness, Perceived Quality, Brand Associations, Proprietary Assets. Keller’s Model defines brand as an effect that emerges out of a favorable association with a brand. When the customer is in a good relationship with the brand, they often make repeated purchases and become loyal customers. Brand Asset Valuator Model is a brand equity model that gives the brand equity value of many brands and helps to compare brand equity across many brands. As per the this model, collecting consumer insights will help to improve brand health and the future of a brand. Brandz Model is a tool the is used to diagnose and predict brand equity. In this model, data is collected with the help of interviews and publicly available data. Consumers of different brands are asked questions about the brand that they know. When customers are able to identify the brand, they start connections and slowly build a strong bond with better performing products. Ultimately the focus of every brand equity model is to increase the brand equity of an organization.
Brand Equity Model template is made in a bright color scheme and has a lot of infographics and tables. This template will be primarily useful for marketers and advertising professionals. You can use this template when preparing your product promotion marketing strategy. Also, this template will be useful for companies that work in the fashion industry. All slides in the template have all the necessary tools to build a professional Brand Equity Model. For example, the first slide gives you an opportunity to present the main brand measures and brand objectives of your company. Also, this template will be useful for startups and companies that want to launch branded products on the market. The Brand Equity Model template will be a great addition to your marketing presentations.