BU470 Lecture Notes - Lecture 2: Unicef, Kraft Dinner, Open Happiness
Document Summary
Brand equity: the differential impact of marketing that is uniquely attributable to a brand. Influence on brand awareness and brand associations have on consumer response to marketing of that brand: equity links brand to performance. Getting to the top of the pyramid is just the first victory. Example: naming all the brands of soft drinks you can think of. Depth - ability of people who recalled a brand they know. Breadth the cues that lead to brand recall (cues can include subcategories, consumption occasions, places, etc) Example: walmart meets the needs of consumers through product breadth and depth, especially emphasizing on low prices. Awareness ability to access the brand in memory; measured through brand recall or brand recognition. Depth of awareness ease with which a brand name comes to a consumer"s mind. Breadth of awareness range of situations and occasions where the brand comes to mind. Performance what the brand does to meet customers" more functional needs.
