MKT 510 Chapter Notes - Chapter 2: Brand Equity, Brand Awareness, Competitive Advantage
Document Summary
Chapter 2 customer-based brand equity and brand positioning. Customer-based brand equity (cbbe): differential effect that brand knowledge has on consumer response to marketing of that brand. Quality of investment in brand building is most critical factor, not quantity beyond some minimal threshold amount. Brand knowledge marketers create over time dictates appropriate and inappropriate future direction for brand. Associative network memory model: views memory as network of nodes and connecting links, in which nodes represent stored information or concepts, and links represent strength of association between nodes. Cbbe occurs when consumer has high level of awareness and familiarity with brand and holds some strong, favourable, and unique brand association in memory. Strength, favourability, and uniqueness of brand association play critical role in determining differential response. Brand recognition: consumers" ability to conform prior exposure to brand when given brand as a cue.
