MKT 100 Study Guide - Brand Equity, Business Process

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Finlayson

Document Summary

Module 6 brand management and product development. Brand: a set of associations linked to a name, mark or symbol associated with a product or service, much like a reputation. Brand equity: the value of the brands name, it"s worth as an asset to the company, also called good will. hard to get brand equity from baby boomers , boomer children, all grew up with conveniences, hard to impress. Brand loyalty: the repeated purchase of the same brand of product or service over time. high brand loyalty leads to more distribution reach and distributor support. brand reputation built in a primary market helps a brand when entering a secondary market (called brand extension) Brand preference customers are committed to buy further purchase. Brand awareness the product name comes into the mind first, when thinking about a product category www. notesolution. com. Brand association the use of favorable images, celebrates, geographic regions.