APPLE -BRAND EQUITY MODEL - Applying the Model – Apple-

 

APPLE -BRAND EQUITY MODEL - Applying the Model – Apple-

Salience

When I hear the word “Innovation”, Apple is the first brand that comes in mind. Apple also provides such brand which is unique and innovative. It is mostly considered as the luxury brand worldwide by customers.

Performance & Imagery

In terms of brand performance, I think Apple has set the highest benchmark for others to follow. Their products are of very high-quality offering very good options, ease of use and beautiful designs. This is the reason that they charge a premium for their products. Apple products are in line with its competitors. But when it comes to supplementary features, I think Apple has gone many steps ahead and has provided users with something revolutionary every time. In terms of reliability, durability and serviceability, I think there isn’t any company even close to the level of Apple. The Apple brand is associated with sophistication and technology. Apple products are generally bought by computer and fashion savvy customers rather than the usual computer user. This is because they are looking for something more than functionality and Apple delivers that little extra in a very distinctive manner. The multi-coloured logo itself depicts that Apple is for all races and creeds. The meaning of the name also gave the company a “friendly and shine” and warm based personality.

Brand Judgments & feelings

Customer judge the apple by keeping the view 4 things, quality, credibility, consideration and superiority. Products of apple have good quality and it is one of the most trusted brands in the world. Being innovative is its core competency and it has definitely caught the attention of the customer. Apple as a brand is very close to its customers and has been able to give them what they want with very close accuracy. This has created a high level of consideration for the brand with the customers. And it is also the most superior brand in the world. The Apple brand spread out feelings of fun, excitement and pride. People who own Apple products always look forward to using them with a lot of enthusiasm. The brand through its advertising has created an image of being diverse and colourful. This has been deeply etched in the minds of the customer.

Resonance

Apple customers relate to the brand very intimately. Repeat purchases are very common. They feel a very strong attachment towards the brand because it portrays a very different image. The person who uses the Apple are feeling satisfy and feel good and elite by using the Brand. The Apple experience has created deeper attitudinal attachment in the minds of the customer

Financial Brand Based Equity of Apple

The value of Apple (at this time) is $703.5 B, and the value of the brand $234 B (according to Interbrand), so 30% of the total value of the company comes from the Apple brand and all their sub-brands (iPhone, Mac, iCloud, etc.)

That $234 B brand value means that Apple would lose nearly half of its value overnight if some bizarre trademark dispute meant that Apple could no longer sell under the name “Apple,” use the logo, similar graphics, or the apple.com website, and not use any other brands as well.

Theoretically, Apple could sell its brand for $234 B to Microsoft, Facebook, or any business with that much cash or stock.

Granted, it would be hard to separate the Apple brand from the rest of the company. Brand equity is entwined with every other component of a company’s value. Companies are gestalt; they are their complete whole, inherently indivisible. The intertwined nature of brands doesn’t stop companies from licensing their brand, which can have good and bad consequences (brand dilution).

It’s also interesting to note that Apple spends $1.8 B a year in advertising. That may seem like a large number, but it is not that much consider the brand is worth $234 B, only 0.8%.

Because Apple’s brand is so valuable and so well love, they generate a lot of interest from a small investment in advertising. One of the benefits of having a valuable brand is your advertising dollars go further because ads from a well-known / well-loved brand get more attention from viewers.

 

 

 

 

 

A)    Brand Audit

A brand audit is a check-up that evaluates your brand's position in the marketplace, its strengths and weaknesses, and how to strengthen it. A brand audit should cover three areas: Internal branding — your brand values, mission and company culture. Brand audits help a business to recognize its strengths and weaknesses, create opportunities for improvement, and find new ways to help the business stay relevant and move forward. It also helps to determine how you can sharpen your image so that you stand out among your competitors. A brand audit should cover three areas:

1. Internal branding — your brand values, mission and company culture
2. External branding — your business logo, print and online advertising and marketing materials, public relations, website, social media presence, email marketing and content marketing
3. Customer experience — your sales process, customer support and customer service policies

 

 

B)Brand tracking study

 

Brand tracking refers to the marketing efforts used to quantify the effects of brand building campaigns on sales and conversions.

More and more, marketing teams are building campaigns that are focused on emphasizing unique brand attributes, rather than just products. The goal of these campaigns is to establish a relationship with the brand’s core audience and build associations between the brand and certain ideals.

Proctor and Gamble is a strong example of a brand that leverages brand-building campaigns. As ongoing sponsors of the Olympics, they released the “Proud Sponsors of Moms” ad, which rather than emphasizing one specific product, tied the entire brand back to empowering moms. 

C)                        Interbrand brand valuation methodology

Interbrand’s brand valuation methodology seeks to provide a rich and insightful analysis of your brand, providing a clear picture of how your brand is contributing to business growth today, together with a road map of activities to ensure that it is delivering even further growth tomorrow.

D)                        Brand activation roadmap

Valuation analysis is also used to support the business case for Iconic Moves, combining market research with financial modelling to quantify potential impact, investment and ROI.

 

E)Brand Z brand valuation methodology

 

The brands that appear in this report are the most valuable in the U.S. They were selected for inclusion in the BrandZ™ Top 100 Most Valuable U.S. Brands based on the unique and objective BrandZ™ brand valuation methodology that combines extensive and on-going consumer insights with rigorous financial analysis.

The BrandZ™ valuation methodology can be uniquely distinguished from its competitors by the way we use consumer viewpoints to assess brand equity, as we strongly believe that how consumers perceive and feel about a brand determines its success and failure. We conduct worldwide, on-going, in-depth quantitative consumer research, and build up a global picture of brands on a category-by-category and market-by-market basis.

Globally, our research covers 3.2 million consumers and more than 100,000 different brands in over 50 markets. This intensive, in-market consumer research differentiates the BrandZ™ methodology from competitors that rely only on a panel of “experts”, or purely on financial and market desktop research.