Strategic Brand Management: Objectives, Equity, and Audits
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Planning Objectives
- Objectives: Financial, efficiency, position, CSR, share value, markets
- Policies: Low price, quality, promotion, ethical, usefulness
- Processes: Specific action, staff evaluation, quality control, cost control, purchasing, stock inventory
- Rules: Define response, safety, sick leave, punctuality
- Budget: Cash flow, income, expenses (not always in euros)
Brand Equity
- Core: What is the customer really buying?
- Actual: Characteristics, features, quality level, name, packaging
- Augmented: Additional services
Evaluation of Brand Equity
- Cost approach
- Market approach
- Income approach
Managing Brand Equity
- Leadership: Be a dominant force
- Stability: Ability to survive
- Market: Growth prospects, volatility
- Geographic spread
- Trend: Ability to remain relevant
- Support
- Protection: