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Brand Equity

Let us first look at how brands work. We have identified several key components: at the heart lies the consumer needs brands are trying to fulfill. So for example, when buying yourself a special treat and seeking self-indulgence perhaps only a Magnum ice cream would do. However, if you were seeking love from the family then you may serve some ice cream from a large tub but with some special personal touches. Understanding how different brands meet different needs depending on the context, will enable you to plan a brand portfolio strategy designed to meet all the important needs in the category.

Marketers will also decide on the personality which the brand is to project. It is important to ensure that the brand elements (such as the mood or tone of the advertising, the media used, the shape and design of the packaging, the retail channels used and so on) align with the overall architecture of the brand.

Lastly, brands are built around benefits, which are of a different nature; either functional, how the brand delivers on tangible dimensions, or emotional, how the brand delivers on ‘softer’/intangibles issues. This is what drives the equity of the brands on a given market.