MKT 510 Chapter Notes - Chapter 7: Brand Equity

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Ida Berger

Document Summary

Chapter 7: leveraging secondary brand associations to build brand. Brands themselves may be linked to other entities that have their own knowledge structures in the minds of consumers. Because of these linkages, consumers may assume or infer that some of the associations or responses that characterize the other entities may also be true for the brand. I(cid:374) effe(cid:272)t, the (cid:271)ra(cid:374)d (cid:862)(cid:271)orro(cid:449)s(cid:863) so(cid:373)e (cid:271)ra(cid:374)d k(cid:374)o(cid:449)ledge a(cid:374)d, depe(cid:374)di(cid:374)g o(cid:374) the (cid:374)ature of those associations and responses, perhaps some brand equity from other entities. This indirect approach to building brand equity is leveraging secondary brand associations for the brand. Commonality: leveraging strategy makes sense when consumers have associations to another entity that are congruent with desired brand associations. Three main branding options exist for a new product: create a new brand, adopt or modify an existing brand, combine an existing and a new brand.