Brand equity refers to the value of a brand, which can be retrieved from its awareness, the consumers’ perceptions and the associations that come in mind when thinking of the brand, attributing the value to the brand itself, being “the owner’s claim on the business”, rather than to the specificities of the product (Kapferer 508). For Colgate brand, the brand equity translates through a global awareness of the product, which is associated with dental protection, with the dental medical recommendation or with oral hygiene, as it advices consumers to brush (using Colgate three times per day). The bellow print screen (taken from a Colgate ad) suggests precisely the idea of brushing three times per day, with Colgate, and it is induced from an early age, considering the fact that the targeted group of this ad are the children (“Colgate. A Different Story”):
Nevertheless, Colgate’s target market is not solely represented by children, but it targets people throughout the world, regardless their age, gender, social status, profession, racial or ethnical group belonging. This is why Colgate is using an integrated promotion strategy, combining the ATL (aired commercials, printed or online banners) with in – store promotions and BTL activities meant to attract more consumers, directly competing for market share with other similar brands. Its creative approach is to spot all the dental and horal hygiene problems that it solves, indicating its competitive advantage, as being the single toothpaste brand that can accomplish these assets (“Colgate Total Toothpaste”).
Brand positioning refers to “measuring the perceptions that buyers hold about alternative offerings” (Beri 469). From analyzing Colgate’s advertisements, it can be understood that compared to alternative offerings, this brand is positioned in association with its protection value.
For Leo Racicot Chrysler Dealership, the brand equity means defining the brand as associated with its owner, Leo Racicot. Its image of a local mobster, with high influence upon the local communities in his nearby proximity, showing a protectionist and benevolent air is his defining characteristic and it is what his service’s brand equity stands for.
His target market is represented by the adults who need automobiles and who know the industry inside and out, and this is why his ads are directly oriented towards this kind of people, who also have a particular sense of humor, who are positively impacted by Leo Racicot’s shocking appearances, as they are different, original and crazy. The reference to the fact that he always has his cards on the table, plus, the message: “Never gamble when you deal with me” (“Racicot Chrysler Commercial”) shows his correctness, which is a highly valuable asset, which customers are looking for. In fact, this is the creative approach of Leo Racicot Chrysler Dealership commercials, as it determines the targeted market to create mental associations with these features when they think of Leo Racicot Chrysler. By acquiring this brand, the consumers feel like resonating with these features and the purchasing is like a statement for the values that they stand for, values that the brand promotes.
Regarding its promotion strategies, besides the little advertisements available, there are not many details available for defining the methods used for approaching the targeted market. Judging by the fact that it is a local brand, one can consider that the promotion strategy mostly focuses on direct marketing or word of mouth strategies. Compared to similar products, the brand is positioned as a good deal, making the offer one cannot refuse.
Beri, G C/ Marketing Research 4E. New Delhi. Tata McGraw – Hill Publishing Company Limited. 2008. Print.
Colgate Total Toothpaste Advert. Accessed on 11 June, 2013. Retrieved from http://www.youtube.com/watch?v=99T-iGcii8U. N.d. Web.
Colgate. A Different Story. Accessed on 11 June, 2013. Retrieved from http://www.youtube.com/watch?v=uexC3_f8avw. N.d. Web.
Kapferer, Jean, Noel. The New Strategy Brand Management: Creating and Sustaining Brand Equity Long Term. London. Kogan Page. 2008. Print.
Racicot Chrysler Commercial CBET. Accessed on 11 June, 2013. Retrieved from http://www.youtube.com/watch?v=NQZMboUO6n4. N.d. Web.