Please pick one specific brand in each of the following product categories below and discuss the sources of brand equity for each.
- Fruit juice (Tropicana)
- Shampoo (Pantene)
- Sport shoes (Nike)
- Smart phone (Lenovo)
Through desk and online research and examining marketing communication activities of the brands you have picked, identify the brand elements and performance and imagery attributes of the brands
In your discussion, make reference to POPs (Point of Parity) and PODs (Point of Difference) of these brands as well as their brand elements and any secondary associations they might have as you have identified through your research.
Solution
Introduction
Every company establishes the brand image, which can enable the growth and sustainability of the brand in the competitive market. Customers in the competitive market intend to perceive the brand to make buying decisions. Brand equity is the value of the brand, which has been perceived by the customer. Different elements of brand play a crucial role in making the brand successful and lucrative. The consideration of brand attributes, performance, the point of difference, and point of parity is effective for the brand management, which ensures the success of the brand.
Tropicana Brand Equity
Tropicana brand is in the limelight due to its high-quality fruit juices. The management of the company has derived the value of this brand through high-quality ingredients. People usually perceive that all ingredients in different beverages are original, and it justifies the brand equity in the competitive market. The prominent source regarding the brand equity is the design of different juices, which enables the positive brand equity in the competitive market (Garrun, 2013).
Pentene Brand Equity
P&G has created the prominent brand, called pentene. The main source of the brand equity is different, marketing activities by the management of the company participate in different events, sponsorships, public relations, and event marketing are some key sources, which helped the company to contain the positive brand equity. The most important thing for the brand management is to shape the customer thinking in an effective manner, which leads towards the brand equity (Kchangc, 2016).
Nike Brand Equity
There are several sources regarding the brand equity. Nike depicts some sustainable products for customers around the globe, which leads towards the positive brand equity. For Instance, the company is producing the highest quality and durable products to increase the athletic performance. This customer’s thing that they can become more active when using Nike products in several sports activities. It has ensured the positive brand equity (Yang, 2017).
Lenovo Brand Equity
Lenovo brand has also been triggered by the positive brand equity in the competitive technology market. The value has been created by the company through extraordinary features in different technology products at the lowest prices as compared to other competitors. Mobile phones, laptops, and many other products are emerging due to these differentiated features for customers. Thus, the customer thinks about this brand positively, which ensures the brand equity.
Brand Elements and Performance
Tropicana contains different brand elements. For Instance, the prominent brad element is the brand identity. Tropicana management aims to come up with the attractive packaging and pricing, which can help customers to remember the brand. Also, according to the customer perception, Tropicana contains the high quality and attractive packaging. It enables the brand image, which seems high as compared to another brand. The performance of the brand is exceptional in the presence of different substitutes. The performance of the brand is sustainable a due to customer’s buying behavior and assertiveness in the fruit beverages. Thus, the performance is good, which depicts the growth of the brand as well (Chevalier & Mazzalovo, 2012).
Pentene brand is triggered by the brand positioning, which has been emerging as a key brand element. The company intends to position better in the minds of customers through targeting and segmentation. For Instance, different pentene products have been designed for different customers for different purposes. Customers make decisions according to their needs and requirements. The performance of the brand is remarkable. This brand element makes people loyal to the competitive market.
Regarding Nike brand, brand equity and brand experience are two important elements. For Instance, customers in the competitive market intend to relate different things with Nike brand. The value has been created the through high quality and some strategic benefits for athletes. Obviously, for many years, the experience of the brand is in the limelight, which depicts the good performance (Keller, Parameswaran, & Jacob, 2011).
Relative to the Lenovo brand, pertinent elements are the brand extension and brand differen5tiation. Through different features of different technology products, the company has made different things different from other substitutes. Also, the company, after laptops, is looking to expand in its product line, which can improve the performance.
Imagery Attributes of the Brands
The brand attribute is the essence of the brand, and these entire four brands contain different brand attributes. For Instance, pentene brand contains the unique attribute. Pentene brand can help the customers increase the beauty of hairs, it seems a feature or quality, which can be considered as a brand attributes. Nike attributes are the comfort, as people seem comfortable when wearing and running. Tropicana’s attribute is the taste, which fascinates customers. Interestingly, customers in the market make buying decisions due to the taste. Lenovo’s attribute is the user experience, which is differentiated. Due to high-quality user experience, customer depicts preferences. Thus, these are some attributes of these different brands. However, it seems necessary for the management of these brands to evolve with the passage of the time, as far as these attributes are concerned (Johansson & Carlson, 2014).
Point of Parity (POPs)
The Tropicana brand intends to come up with the same quality and ingredients, which have been used by its competitors such as Nestle and many other companies. Regarding the segmentation and pricing, similar prices and segmentation have been depicted by the company, which justifies the point of parity. On the other hand, pentene brand justifies the point of parity through its quality in the different product line. At the same price, the company offers the same quantity. Nike’s point of parity is the innovation. Like other competitors such as Adidas and Puma, the company offers the same innovative approaches to increase the customer experience. Lenovo’s point of parity is its feature (Bulik, 2012). For Instance, in Lenovo products, the customer van observed many features, which have been observed in Apple Inc products (Kapferer, 2012).
Point of Difference (PODs)
Tropicana’s point of differences is designing and packaging. The company is making the products different from its competitors to enhance the visibility of uniqueness and attractiveness. Moreover, Nike’s point of difference is the Nike ID. For Instance, the customer can customize its products regarding the size, color, and design. It has not been adopted by other competitors. Furthermore, the point of difference of pentene brand is the care of different hair types. Exceptionally, the brand is triggered by different types of hairs, and accordingly, provides the suitable process to customers. Lenovo’s point of difference is quite visible in the global market. The company is offering the highest quality features a for customers in the low process, which seems rare, as far as Apple Inc and Samsung companies are concerned (Chevalier & Mazzalovo, 2012).
Linking with Brand Positioning and Brand Resonance Models
Customers of these entire brands depict some attachments due to different factors. Collectively, customers contain the unique impression in mind; For Instance, the brand has been positioned in the minds of customers due to high quality and extraordinary benefits for customers.
Customer-Based Brand Equity Model
Also, the customer-based brand equity model is linked to all these brands. First, these companies contain the brand awareness; after this, the company depicts some point of parity and point of difference to position better in the minds of customers. It forces customers to demonstrate emotional reactions. In the end, the brand loyalty can be attained. Brand awareness shapes the brand salience. POP and POD shape the performance and image, and it seems quite visible in Nike & Lenovo. Tropicana observes the customer feeling and judgment through emotional reactions. Pentene depicts the brand loyalty, which is integrated with the customer brand resonance (Kapferer, 2012).
Brand Equity Models
Brand Asset Valuator
Tropicana contains the four pillars of the brand, which are differentiation, esteem, relevance, and knowledge. In different advertisements on different media channels, Tropicana is looking to differentiate through depicting or visualizing the unique packaging. The image has been sustained through esteem, as customers give value to this brand due to its design quality and image.
AAKER Model
Quality, awareness, loyalty, brand associations, and other proprietary assets are five categories, which come under this brand equity model. Interestingly, Nike brand is experiencing the customer loyalty, awareness, and associations. Nike focuses on the performance, and it has been depicted in different advertisements. Containing the celebrity endorsements and expressing their experiences is a good approach, which creates the positive perceptions. In end, customers become loyal. Due to perceived performance, the customer contains the emotional and sentimental associations as well.
BRANDZ
This model indicates several steps to build the brand. Interestingly, the main focus of the Lenovo brand is on the image, for Instance, in different steps of the brand building process such as presence, relevance, performance, advantage, and bonding. The image of this brand has been sustained by through providing the advantages. Commercials of different media channels show that how a user can get several advantages when using the Lenovo products as compared to other brands.
Brand Resonance
Regarding pentene brand, the brand resonance equity model is quite pertinent. The brand image has been sustained through building the specific product class. For Instance, Pentene demonstrates the specific product in different commercials, which is design to strengthen hairs. Customer perceives the value because the brand ensures the long and strong hairs in different commercials. Through these advertisements or commercials, the customer response in terms of feeling and judgment has been observed. Based on the specific product feature, these feeling and judgment can be evolved (Keller, Parameswaran, & Jacob, 2011).
Conclusion
In the end, it is to conclude that the brand management makes different strategies to make the brand successful and lucrative in the competitive market. In the modern business era, the most important thing for the management of the company is the evolvement, as it helps to integrate with some new trends in the market. The success of the brand is based on the positive brand equity, and it is justified in all elaborated brands.
References
Bulik, B. S. (2012, January 9). What Do You Do When Your Business Outpaces Your Brand? Lenovo May Soon Have The Answer. Retrieved from http://adage.com/article/cmo-interviews/lenovo-increasing-brand-awareness/231929/
Chevalier, M., & Mazzalovo, G. (2012 ). Luxury Brand Management: A World of Privilege. John Wiley & Sons.
Garrun, D. (2013, May 12). Pulling off a packaging redesign: learning from Innocent and Tropicana. Retrieved from https://www.packaging-gateway.com/features/featurepackaging-redesign-innocent-tropicana-branding/
Johansson, J. K., & Carlson, K. A. (2014 ). Contemporary Brand Management. SAGE Publications.
Kapferer, J.-N. (2012 ). The New Strategic Brand Management: Advanced Insights and Strategic Thinking. Kogan Page Publishers.
Kchangc. (2016, April 23). How P&G Develop Its Brand Equity? Retrieved from https://mpk732t12016clusterb.wordpress.com/2016/04/23/how-pg-develop-its-brand-equity/
Keller, K. L., Parameswaran, M. G., & Jacob, I. (2011). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson Education India.
Yang, Q. (2017, September 10). Nike: Building Brand Equity Globally. Retrieved from https://medium.com/global-threads/nike-brand-equity-1651a18d8996
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