MKT 510 Lecture Notes - Lecture 4: Brand Equity
24 Feb 2017
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Segmentation- which grouping are you going to target? e. g. age 18-24. Steps: identify and establish brand positioning & values, plan & implement branding marketing programs, measure & interpret brand performance, grow & sustain brand equity. Developing new products that command price premium. Resources on advertising the new products to create awareness and demand. Spend more resources to ensure the new product is front & centre in retail locations everywhere. Intermediation importance of last mile: connectivity importance of wom, customization i(cid:373)porta(cid:374)(cid:272)e of (cid:862)me(cid:863, convergence importance of meaning, empowerment importance of relationship, fragmentation importance of conversation. How to proceed to build customer-based brand equity: ti(cid:272)k to first pri(cid:374)(cid:272)iples (cid:271)ut realize the (cid:374)ew (cid:373)arket realities, brand knowledge structures depend on: The initial choices for the brand elements. The supporting marketing program and the manner by which the brand is integrated into it. Other associations indirectly transferred to the brand by linking it to other entities.
