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Chapter 7

Chapter 7.docx

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Department
Marketing
Course Code
MKT 510
Professor
Ida Berger

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Chapter 7— Leveraging Secondary brand associations to build brand equity  Leveraging secondary brand knowledge: o Brands may be linked to other entities that have their own knowledge structures in the mind of the consumers o Consumers may assume that some associations characterize the other entities may be true for that brand o Brand borrows some brand knowledge and depending on the nature of the associations perhaps some brand equity  Secondary sources of brand knowledge (entities) o Companies branding strategies o Countries or geo areasidentification of product origin o Channels of distributionchannel strategy o Other brandsco branding o Characterslicensing o Spokespersonendorsements o Eventssponsorship o Other 3 party sourcesawards or reviews Conceptualizing the leveraging process  Linking the brand to some other entity may create a new set of associations from the brand to the entity, as well as affecting existing brand associations Creation of new brand associations  May form a mental association from the brand to this other entity, and to any or all associations, judgements, feelings, and the like linked to that entity  Affect evaluations of a new product when consumers lack either the motivation or the ability to judge product related concerns  Consumers may be more likely to make brand decisions on the basis of the secondary considerations Effects on existing brand knowledge  Linking the brand to another entity can also affect existing brand associations  3 important factors in predicting the extent of the leverage from linking the brand to another entity o Awareness and knowledge of the entity o Meaningfulness of the knowledge of the entity o Transferability of the knowledge of the entity Guidelines on leveraging  May allow marketers to create/reinforce an important POD vs. competitors; or competitive POP  When choosing a source factor marketers should take into account consumer awareness of the entity  Commonality: Choose entities for which consumers have some/a lot of similar associations o Makes sense when consumers have associations to another entity that are congruent with desired brand associations  Complementarily: entity is chosen that represent a departure for the brand few/none common associations o Critical is delivering the desired position o Ensure that the less congruent knowledge for the entity has either a direct or indirect effect on existing brand knowledge  Ex. When tiger woods’ was signed by Buick people didn’t see the link between a golfer and a car  Riskymarketers gives up some control of the brand image o Ex. Tiger woods’ sex scandal was bad associations for Buick and nike  Managing that only the relevant secondary knowledge becomes linked to the brand is difficult Company  Branding strategies are an important determinant of strength of association from the brand to the company and any other existing brands  3 branding options o Create a new brand o Combine an existing and a new brand o Adopt or modify an existing brand  Brands and companies are often unavoidably linked to the category and industry in which they compete, sometimes with adverse consequences Country of origin and other geographic areas  Many countries have become known for expertise in certain product categories or for conveying a particular type of image o Consumers can pick and choose brands originating in different countries o Based on perceived quality and image  Ex. Italian suits, Japanese mp3 players, German cars  A number of brands are able to create a strong POD because of consumers identification of the country of origin o Gucci Italy; ChanelFrance  Marketers can establish a geographic association in different ways o Embed the location in the brand nameIrish spring soap o Make the location the dominant themecoor's beer  Events or actions associated with the country may color people’s perceptions o Connections to a country may pose problems if the firm desires to move production elsewhere  Patriotic appeals have been the basis of marketing strategies all over the world o Lack uniqueness and overused Channels of distribution  Retailers have their own brand images in consumers mind  Retailers create these associations through the products and brand they stock and the means by which they sell them o Many retailers aggressively advertise and promote directly to consumers  A consumer may infer certain characteristics about a product on the basis of where it is sold o Ex. If it’s sold by Nordstrom it must be good quality  For many high-end brands, a natural growth strategy is to expand the customer base by tapping new channels of distribution o Going/distributing to the mass markets Co branding  Co-branding: 2+ existin
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