管理品牌资产外文翻译.docx
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管理品牌资产外文翻译.docx
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管理品牌资产外文翻译
标题:
ManagingBrandEquity
LEVERAGINGANDMEASURINGBRANDEQUITY
原文:
4.1Leveragingbrandequity
Therearethreewaystoleveragebrandequity:
firstlybuildingit,secondlyborrowingit,orthirdlybuyingit.Increasingly,”building”brandequityisnoteasy–giventheproliferationofbrandsandtheintensecompetitionthatisprevalentinmanyindustries.Withinagivenindustry,theretypicallyexistmanyhighqualityproductsandhighlevelsofadvertising,makingitdifficulttointroducesuperiorqualitybrandandshapeperceptionsthroughadvertising.Thus,thealternativetobuildingbrandequityisbyborrowingorbuyingit.(Farquhar1990,RC10–RC11)
4.1.1Buildingbrandequity
Brandequityisbuiltfirstly,bycreatingpositivebrandevaluationswithaqualityproduct,secondly,byfosteringaccessiblebrandattitudestohavethemostimpactonconsumerpurchasebehaviour,andthirdly,bydevelopingaconsistentbrandimagetoformarelationshipwiththeconsumer.(Farquhar1990,RC8–RC10)Ofthesethreeelements,positivebrandevaluationmaybeconsideredthemostimportant,anditisbasedonaqualityproductthatdeliverssuperiorperformance.
Thefirstelementinbuildingastrongbrandisapositivebrandevaluation.Qualityisthecornerstoneofastrongbrand.Afirmmusthaveaqualityproductthatdeliverssuperiorperformancetotheconsumerinordertoachieveapositiveevaluationofthebrandintheconsumer’smemory.
Threetypesofevaluationscanbestoredinaconsumer’smemory:
1)affectiveresponses,2)cognitiveevaluationsand3)behaviouralintentions.Affectiveresponsesinvolveemotionsorfeelingstowardthebrand(e.g.,thebrandmakesmefeelgoodaboutmyself,thebrandisafamiliarfriendorthebrandsymbolisesstatus,affiliationoruniqueness).Cognitiveevaluationsareinferencesmadefrombeliefsaboutthebrand(e.g.,thebrandlowerstheriskofsomethingbad).Behaviouralintentionsaredevelopedfromhabitsorheuristicinteresttowardthebrand(e.g.,thebrandistheonlyonemyfamilyusesorthebrandisonsalethisweek).Effortstocreatepositivebrandevaluationsareusuallyaimedatoneofthesetypes.(Farquhar1990,RC8–RC9)
Thesecondelementinbuildingastrongbrandisattitudeaccessibility.Itreferstohowquicklyanindividualcanretrievesomethingstoredinmemory.Storedevaluationscanberetrievedfrommemoryintwoways.Automaticactivationoccursspontaneouslyfrommemoryuponthemereobservationoftheattitudeobject.Controlledactivationrequirestheactiveattentionoftheindividualtoretrieveapreviouslystoredevaluationortoconstructasummaryevaluationoftheattitudeobject.
Thethirdelementinbuildingastrongbrandistohaveaconsistentbrandimage.Consistencyofthebrand’simageisapartofmanagingtherelationshipbetweentheconsumerandthebrand.Arelationshipdevelopsbetweenthepersonalityofthebrandandthepersonalityoftheconsumerwitheachpurchase.
Buildingbrandequityrequiresthecreationofafamiliarbrandthathasfavourable,strong,anduniquebrandassociations.Thiscanbedoneboththroughtheinitialchoiceofthebrandidentities,suchasthebrandname,logo,orsymbol,andthroughtheintegrationofthebrandidentitiesintothesupportingmarketingprogram.Thejudiciouschoiceofbrandidentitiescancontributesignificantlytobrandequity,buttheprimaryinputcomesfromsupportingmarketingactivitiesforthebrand.Theproductorservicespecificationsthemselvesaretheprimarybasisfortheproduct-relatedattributeassociationsanddetermineaconsumer’sfundamentalunderstandingofwhattheproductorservicemeans.Similarly,thepricingpolicyforthebranddirectlycreatesassociationstotherelevantpricetierorlevelforthebrandintheproductcategory,aswellasitscorrespondingpricevolatilityorvariance,e.g.,intermsofthefrequencyandmagnitudeofdiscounts.Themarketingcommunicationeffortsbythefirm,incontrast,affordaflexiblemeansofshapingconsumerperceptionsoftheproductorservice.Marketingcommunicationmayalsobehelpfulinincreasinguserandusageimageryattributes.Word-of-mouthandothersocialinfluencesalsoplayanimportantrole,especiallyforuserandusageimageryattributes.(Keller1993,9–10)
Investmenttobuildormaintainstrongbrandscanbedifficultorimpossibletojustifywhenconsideringtheshort-termfinancialoutlook.Itisrequiredavisionandabeliefthatsuchinvestmentswillpayoff.Akeytodevelopingavisionandhavingfaithinitistounderstandthewaysinwhichabrandcangeneratecompetitiveadvantage.Withavisionestablished,itisnecessarytobevigilantwithbrands.Thetemptationisputapriorityinotherareas,suchastocorrectamarket-shareproblemortopursueacostreductionprogram.Asaresult,brandequityistemporarilyputonhold.Thistemptationisparticularlystrongwhentheorganisation’sstructureandrewardsystemsdonotprotectbrandequity.(Aaker1992,32)
4.1.2Borrowingbrandequity
Manyfirmsborrowonthebrandequityintheirbrandnamesbyextendingexistingbrandnamestootherproducts.Twotypesofextensionscanbedistinguished:
alineandacategoryextension.Thelatterisfrequentlyalsocalledbrandextension.Alineextensioniswhenacurrentbrandnameisusedtoenternewmarketsegmentintheexistingproductclass.Acategoryextensioniswhenthecurrentbrandnameisusedtoenteradifferentproductclass.(Aaker–Keller1990,27–28;Farquhar1990,RC10;Farquhar–Herr–Fazio1990,856;Hankinson–Cowking1993,74–75;Keller1998,67)
Alineextensionoccurswhenacompanyintroducesadditionalitemsinthesameproductcategoryunderthesamebrandname.Alineextensionofteninvolvesadifferentsize,colour,flavouroringredient,adifferentformoradifferentapplicationforthebrand.Productsinlineextensionsaretechnicallycongruent,i.e.,similarinmanyattributes.Theybelongtothesameproductcategoryorsubclass.Thevastmajorityofnew-productactivityconsistsoflineextensions.Excessmanufacturingcapacityoftendrivesacompanytointroduceadditionalitems.Thecompanymightwanttomeettheconsumers’desireforvariety.Thecompanymayrecognisealatentconsumerwantandtrytocapitaliseonit.Thecompanymaywanttomatchacompetitor’ssuccessfullineextension.Manycompaniesintroducelineextensionsprimarilytocommandmoreshelfspacefromresellers.Lineextensionsinvolverisks.Thereisachancethatthebrandnamewillloseitsspecificmeaning.Thisiscalledtheline-extensiontrap.Theotherriskisthatmanylineextensionswillnotsellenoughtocovertheirdevelopmentandpromotioncosts.Furthermore,evenwhentheysellenough,thesalesmaycomeattheexpenseofotheritemsintheline.Alineextensionworksbestwhenittakessalesawayfromcompetingbrands,notwhenitcannibalisesthecompany’sotherproducts.(Keller1998,455–469;Kotler1994,452–454;vanRaaij–Schoonderbeek1993,482)
Acategoryextensionoccurswhenacompanydecidestouseanexistingbrandnametolaunchaproductinanewproductcategory.Categoryextensionscapitaliseonthebrandimageofthecoreproductorservicetoefficientlyinformconsumersandretailersaboutanewproductorservice.Thepotentialbenefitsofcategoryextensionsincludeimmediatenamerecognitionandthetransferenceofbenefitsassociatedwithafamiliarbrand.Awell-regardedbrandnamegivesthenewproductinstantrecognitionandearlieracceptance.Itenablesthecompanytoenterintonew-productcategoriesmoreeasily.Moreover,categoryextensionseliminatethehighcostsofestablishinganewbrandandoftenreducethecostsofgainingdistribution.Categoryextensionsalsoinvolverisks.Thenewproductmightdisappointbuyersanddamagetheirrespectforthecompany’sotherproducts.Thebrandnamemayloseitsspecialpositioningintheconsumer’smindthroughover-extension.Branddilutionissaidtooccurwhenconsumersnolongerassociateabrandwithaspecificproductorhighlysimilarproducts.Companiesthataretemptedtotransfertheirbrandnamemustresearchhowwellthebrand’sassociationsfitthenewproduct.Thebestresultwouldoccurwhenthebrandnamebuildsthesalesofboththenewproductandtheexistingproduct.Anacceptableresultwouldbewhenthenewproductsellswellwithoutaffectingthesalesoftheexistingproduct.Theworstresultwouldbewhenthenewproductfailsandhurtsthesalesoftheexistingproduct.(Farquhar–Herr–Fazio1990,856;Hankinson–Cowking1993,74–82;Keller1993,15–16;Kotler1994,454–455;Loken–John1993,79–83)
Therelationshipbetweenthecoreproductandtheextendedproductmaybebasedontechnicalattributes,benefits,orvaluesandlifestyles.First,productsmaybetechnicallyrelated,basedonphysicalattributes.Extensionsbasedontechnicalattributesareoftensuccessful,iftheproductshavealargesetofsimilarattributes.Second,theextensionmaybebasedonproductbenefits,ifabrandoffersclearanddistinguishingbenefits.Theseextensionsmayhavedissimilarattributes,buttheyaresimilarforoneormorebenefits,e.g.,quality.Third,well-knownbrandnameswithagoodreputationmayextendtonewproductsbasedontheirassociatedvalueandlifestyle.Thepreconditionisthatthebrandisalreadyassociatedwithaclearsetofvalues.Theseextensionsmaybecompletelydissimilarinatechnicalsense,butsimilarinvaluesandlifestyleforthetargetgroupandforusagesituations.Thecoreoftheseextensionsisthesetofvaluesandthelifestyleofthetargetgroup.Thesebrandnamesoftenhaveaconnotationofhighclassorluxury.Thenewproductmay
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