MKT 510 Lecture Notes - Lecture 5: Brand Equity, Chocolate Syrup, Tiger Woods

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Marla Spergel

Document Summary

Linking the brand to some other entity may create a new set of associations from the brand to the entity, as well as affecting existing brand associations. Linking the brand to another entity can also affect existing brand associations. 3 important factors in predicting the extent of the leverage from linking the brand to another entity: awareness and knowledge of the entity, meaningfulness of the knowledge of the entity, transferability of the knowledge of the entity. When tiger woods" was signed by buick people didn"t see the link between a golfer: risky marketers gives up some control of the brand image and a car, ex. Tiger woods" sex scandal was bad associations for buick and nike: managing that only the relevant secondary knowledge becomes linked to the brand is difficult. Company: branding strategies are an important determinant of strength of association from the brand to the company and any other existing brands.