REC101 Lecture Notes - Lecture 7: Brand Equity

• School: University of Waterloo
• Department: Recreation and Leisure Studies
• Course: REC101
• Professor: Luke Potwarka

Document Summary

Customer base brand equity: there is assumed value in a well-known brand (thus more potential for profit). A lot of companies strive to have a well-known brand. People invest thousands of dollars just to get a well-known franchise: the differential effect of brand knowledge on a consumer response to the marketing of that brand, more than being well known. Helps consumers make decisions if there"s something unique. If we don"t deliver or exceed costumer expectations, we aren"t getting loyalty people aren"t going to come back: we build relationships with staff, trainers, people who help facilitate all of that. This all helps create the company and the relationships and loyalty. We must remember: staff members are critical to the success of the service encounter, front-line staff provide a critical link between the provider and the client, staff put a human face to the organization and its program. It is staff who create value for the client.