MKT 510 Lecture Notes - Lecture 5: Interbrand, Brandz

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Ida Berger

Document Summary

Set of research that is designed to provide timely, accurate & actionable info. For marketers so they can make best possible tactical decisions in short run & lng run. Brand audits: comprehensive, systematic, independent, objectives, strategies, periodic examination, exploratory- what our consumers think. Collected on routine basis over time: often done on continuous basis, provide descriptive & diagnostic info. Research is intimately involved, results are subjective. Large samples to produce generalizable results (bav) young & rubican"s brand asset valuator- 4 components. Function of marketing vs. asset = generating money; short term or long term expense. Differentiation/energy (1: uniqueness of brand relative to competition. Relevance (2: evaluatio(cid:374) of (cid:271)ra(cid:374)d"s attri(cid:271)utes relative to (cid:272)o(cid:374)su(cid:373)er (cid:374)eeds, reliable, intelligent, trustworthy. Esteem (3: overall evaluation of brand, best, leader, worth more, respect, forgiveness & loyalty. After looking at all 4 variables, company combines them, more differentiated= stronger the brand, knowledge & esteem more favourable & known, the higher the status.