Global Brand Management: Strategies for Building Brand Equity

This study focuses on global brand management for BNP Paribas. Learn about the strategies for building brand equity using Keller Model and Aakar Model. Discover how to establish brand loyalty and raise brand image.

GLOBAL BRAND
MANAGEMENT

Executive Summary
The above study it is based on the Global Brand management for the company BNP
Paribas. The company is moving froward for creating the brand equity among the customers. It
can be done with the help of Keller Model and Aakar Model by which company can easily
establish the brand loyalty among consumers and raise the company's brand image in the
marketplace. The company increase their profit and sales by organizing the global brand
management program.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Global brand management is basically the planning and creation of various strategies for
the promotion of brand across the world. BNP Paribas is primarily the banking group operating
internationally being established in 1848 and headquartered in Paris, France. This report gives a
brief about developing global marketing programme for building brand equity.
MAIN BODY
In order to build the effective brand marketing programme which will increase the brand
equity, BNP Paribas can follow certain strategies which will help them in establishing position in
market. Brand equity is basically the value premium which the company generates and builds
from a particular product along with recognizable name in comparison to other equivalent
companies. The most recognizable model which the organization can use in their marketing
programme for building brand equity is Keller Model.
Keller model
Through this model, BNP Paribas can generate brand equity within the minds of
consumers for their brand and will help them to make their brand marketing programme a
success.
Brand identity
This is the first stage and the element of the pyramid which BNP Paribas which shows
the way customers look towards the brand. This basically distinguishes the company from other
organizations and makes a unique position in market. In this stage, BNP Paribas can make their
products ans services more differentiated which will help them to increase brand awareness
among the customers (Ramirez, Albert and Merunka, 2019). The main work which company
world have to do in this stage is building the powerful brand identity for attracting more and
more customers. BNP Paribas can spend a huge amount on advertising as well as promotion of
their services like free credit facilities. A high amount of advertising and promotion of the
services will make the customers aware of the company and thus will build a sense of brand
identity within them. Along with this, organization a massive and big marketing program will be
highly valuable in the beginning which will make the customer's ware of the brand and its
associated values.

Brand meaning
Once the brand identity is being build, the next element within the pyramid of this model
constitute brand meaning. After making the customers aware of the brand, next step which the
company can move forward is giving more information about the brand to the customers. The
customers always remains curious of knowing about the company, brand, products services,
facilities etch and thus spend a long time in gathering the information about it. They want to
know whether the brand is good and reliable or not and whether it will be worth spending on it.
Thus, in this stage BNP Paribas can tell the customers about two of the main aspects which are
brand performance and brand imagery. Within brand performance, the company can compare the
physical features of their services and products with other companies. For example BNP Paribas
can compare the interest rates which being charged by them in comparison to other banks which
will help customers to understand the performance of brand. In brand, imagery company can
design a great image for their brand in the eyes of customers. For example the brand image of
BNP Paribas which the customers have in their mind is associated with large financial institution
working globally (Schroeder, Borgerson and Wu, 2016). Thus, company can make use of word
of mouth which will help them to increase brand imagery for next five years.
Brand response
After purchasing the products and services, customers builds some form of expectations
towards brand. The expectation are fulfilled when the product matches exactly their demands and
wants and thus this arises a positive feeling within minds and heart of customers for that brand.
This positive experience will lead to more visit of customers to the organization. Thus, in this
stage BNP Paribas can make focus more on post sale services which will increase the satisfaction
level of customers and thus will help them to increase brand equity in the upcoming five years.
This bank need to maintain a periodic contact with their customers for assuring them that they
have made the right decisions. For example- BNP Paribas can guide their sales department to
remain in touch with the customers like who have taken loan from their bank for increasing their
feeling towards the brand.
Brand resonance
This is the last step in brand equity model which helps the organizations to maintain a
strong relationship with the customers and hence advocate their brad in their eyes. This is
generally the stage within which the organizations connects with the customers psychologically

as well as socially. In this stage, for establishing the brand equity for the next five years, BNP
Paribas can maintain a strong relationship with their loyal customers. It can send personalized
messages and mails to them on weekly basis regarding appreciating their loyalty, new offers,
cashback etc (Heding, Knudtzen and Bjerre, 2015). This will ultimately help the company to
capitalize on the customers for the upcoming customers and hence build brand equity for
forthcoming years.
Aaker's brand equity model
This is the another most important model which the organizations uses in order to build
brand equity and for establishing the position in market. Thus, this is one of the most important
model which will help BNP Paribas to build brand equity among consumers and thus make their
presence successful for the forthcoming five years.
Brand loyalty
This is basically the extent and degree to which the customers are loyal to a particular
brand and always prefer that specific brand over others. Brand loyalty forms the most important
competent of this model and thus helps the organization to attract customers. Loyalty is hard to
gain and BNP Paribas need to focus on this for building brand equity in the upcoming five years.
Company can bring a high degree of differentiation within their services like charging less fee
for lockers. Besides this, charging fewer rates will attract the loyal customers as it is more
beneficial to hang on loyal customers despite new customers (John and Torelli, 2017).
Brand awareness
This is the another most important component of brand equity model which basically
addresses the degree to which brand places its position and is known among people. The various
parameter will help BNP Paribas to build brand awareness among the customers and thus attract
them to their bank. Company can make their brand familiar to the customers by comparing the
services and features of their product with other companies. For example when BNP Paribas
will compare their low interest rates with other banks then this will make the customers aware of
their brand and thus they will make a positive attitude towards the bank. Besides this, bank can
also assure the great customer services which will increase the commitment of customers
towards brand (Steenkamp, 2017).

Perceived quality
This is the extent and level to which the customers perceive products of a particular brand
as good in terms of quality, price and other attributes. Developing a great quality will help BNP
Paribas to build brand equity among customers for the next five years. Each and every customer
is concerned of the quality of product which they are purchasing and thus wants best in each and
every terms. They base their searching on the level of quality and reliability which the companies
are providing thus in this context for building brand equity, BNP Paribas need to focus their
efforts on the type of quality. They can train their employees and thus shape their skills for
serving customers better. Thus, they can raise the quality of their employees (Romaniuk, Wight
and Faulkner, 2017).
Brand association
This is the last component in this model which usually addresses the extent and level to
which customers associate a particular brand psychologically. This is basically how the
customers associate a specific brand with their needs and demands and hence their expectations.
This is the most significant element which BNP Paribas can use for sustaining their position in
the upcoming five years and for expanding in wider geographies. Here company can extend their
supply chain as well as sales channels through which the customers can easily get the high
quality services and will increase their perception towards the brand (Bartsch and et.al.,2016).
Besides this, BNP Paribas can also extend their product line and thus expand their business
through which they will be able to reach more and more customers and fulfil their needs and
demands. Hence, these all strategies will assist BNP Paribas to establish a great brand equity
among customers for next five years and thus gain competitive advantage.
CONCLUSION
It has been summarized that in order to establish position within market and for building
the brand equity among customers, organizations takes the help of various brand equity model
which are Aaker model, Keller model. These model have various advantages and thus helps the
organizations to gain competitive advantage and attract customers.

REFERENCES
Books & Journals
Bartsch, F and et.al.,2016. Global brand ownership: The mediating roles of consumer attitudes
and brand identification. Journal of Business Research.69(9). pp.3629-3635.
Heding, T., Knudtzen, C.F. and Bjerre, M., 2015. Brand management: Research, theory and
practice. Routledge.
John, D.R. and Torelli, C.J., 2017. Strategic brand management: Lessons for winning brands in
globalized markets. Oxford University Press.
Ramirez, R.H., Albert, N. and Merunka, D., 2019. Are global brands trustworthy? The role of
brand affect, brand innovativeness, and consumer ethnocentrism.
Romaniuk, J., Wight, S. and Faulkner, M., 2017. Brand awareness: revisiting an old metric for a
new world. Journal of Product & Brand Management, 26(5), pp.469-476.
Schroeder, J., Borgerson, J. and Wu, Z., 2016. A brand culture perspective on global brands. In
The Routledge Companion to Contemporary Brand Management (pp. 185-195).
Routledge.
Steenkamp, J.B., 2017. Global Brand Equity. In Global Brand Strategy (pp. 243-273). Palgrave
Macmillan, London.