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9 Cards in this Set
- Front
- Back
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Brand Equity Elements
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1. Brand Loyalty
2. Brand Awareness 3. Perceived Quality 4. Brand Associations 5. Other Proprietory Brand Assets |
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What is "Brand Equity"?
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=> Provides value to Customer by enahcning Customer's
* Interpretion / Processing of Info. * Confidence in the purchase decision * User satisfaction => Provides value to Firm by enhancing * Efficiency and effectiveness of marketing programs * Brand loyalty * Price / Margins * Brand extensions * Trade leverage * Competitive advantage |
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Brand Loyalty
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=> Reduced marketing cost
=> Trade leverage => Attracting new customers * Create awareness * Reassurance => Time to respond to competitive threats |
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Brand Awareness
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=> Anchor to which other associations can be attached
=> Familiarity-liking => Signal of sustance / commitment => Brand to be considered |
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Perceived Quality
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=> Reason-to-buy
=> Differentiate / Position => Price => Channel member interest => Extensions |
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Brand Associations
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=> Help process / retrieve information
=> Reason-to-buy => Create positive attitude / feelings => Extensions |
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Brand Associations
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=> Help process / retrieve information
=> Reason-to-buy => Create positive attitude / feelings => Extensions |
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Other Proprietary Brand Assets
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=> Competitive advantage
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Why Is It Hard to Build Brands?
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1. Pressure to compete on price
2. Proliferation of competitors 3. Frabmenting markets & media 4. Complex brand strategies & relationships 5. Bias toward changing strategies 6. Bias against innovation 7. Pressure to invest elsewhere 8. Short-term pressures |
