MGMC11H3 Lecture Notes - Lecture 2: Wyou
Document Summary
Brand equity diff. b/w the market value of a property + claims held against it. The ownership interest of shareholders in a corporation. Consumer-based brand equity model the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand awareness the strength of brand trace in memory. Bran image/attitude (cid:272)o(cid:374)su(cid:373)ers" per(cid:272)eptio(cid:374)s a(cid:271)out a (cid:271)ra(cid:374)d. Associative network memory model key to understand brand equity: views memory as consisting of a network of nodes + connecting links, nodes rep. stored info/concepts. Links represent the strength of association b/w the information/concepts. Sources of brand equity: brand awareness, brand recognition, brand recall, establish brand awareness, advantages of brand awareness. Learning: consideration, choice, brand image, strength of brand associations, favourability of brand associations, uniqueness of brand associations. Brands should have duality (head + heart appeal) Brand resonance provides focus for marketing decisions.
