MKT 510 Lecture Notes - Lecture 13: Brand Architecture, Sodium Bicarbonate, Arm And Hammer
Document Summary
Marketers must actively manage brand equity over time by reinforcing the brand meaning and, if necessary, by making adjustments to the marketing program to identify new sources of brand equity. We generally reinforce brand equity by marketing actions that consistently convey the meaning of the brand to consumers in terms of brand awareness and brand image. Brand meaning in terms of products, benefits, and needs and in terms of product differentiation depends on the firm"s general approach to product development. The most important consideration in reinforcing brands in consistency in the nature and amount of marketing support the brand receives. Consistency in critical in maintaining the strength and favourability of brand associations. Inadequate marketing support is an especially dangerous strategy when combined with price increases. Managing brand equity with consistency may require numerous tactical shifts and changes in order to maintain the strategic thrust and direction of the brand.
