Çağla Ekin Soysal - 13983
BP501 INDIVIDUAL ASSIGNMENT 1
Abstract
In this paper, 5 different brands in 5 different categories will be discussed based on their brand equities, brand elements, point of parities (POP) and point of differences (POD). By also analyzing their performance attributes, imagery attributes and applicable secondary associations, their reflection of the past and direction for future marketing activities would be drawn.
In order to analyze brand equity , it is necessary to know its sources: brand awareness and brand image, which are the drivers for brand knowledge. Brand awareness' two attributes -brand recognition and brand recall performance - are also going to be discussed by the perspective of 5 brands in this paper.
Automobile Tire Category - Michelin
Michelin has the second market share in Turkey in the automobile tire category after Brisa. Michelin uses its brand elements effectively. By using the slogan "A better way forward" and consistently featuring its character, Bibendum the Michelin man, Michelin succeeds getting known as one of the highest quality tires. Bibendum could also be seen in its navy logo, where navy stands for trust, control and success. As a comparison based on the brand elements to its biggest rivals, Bridgestone and Lassa, although Michelin's slogan emphasizes better quality, both Bridgestone and Lassa focus on safety. Another point is that neither Bridgestone nor Lassa have a character, and they tend to use black and red as the color of their logos, which represent strength and energy.
Building brand equity means succeeding at being memorable, meaningful, and likeable. Michelin has achieved being memorable, meaningful, and likeable at the same time by creating Bibendum and making him a hero in challenging weather conditions. It becomes easier to recognize end recall the brand by the help of Bibendum. Although