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Chapter 10

Chapter 10 - Measuring Outcomes of Brand Equity

2 Pages
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Department
Marketing
Course Code
MKT 510
Professor
Ida Berger

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Wk. 6 – Chapter 10 – Measuring Outcomes of Brand Equity Lecture on: October 18, 2012 Comparative methods  Research studies or experiments that examine consumer attitudes and behavior toward a brand to directly estimate the benefits arising from having a high level of awareness and strong, favourable, and unique brand associations o Brand-based comparative approaches  Holds all aspects of the marketing program fixed, hence isolates the value of a brand in a very real sense o Marketing-based comparative approaches  Main advantage is ease of implementation  We can compare virtually any set of marketing actions for the brand  Main drawback is that it may be difficult to discern whether consumer responses to changes in the marketing stimuli are caused by brand knowledge or more generic product knowledge o Conjoint analysis: survey based multivariate technique that enables marketers to profile the consumer decision process with respect to products and brands  By asking consumers to express preferences or choose among a number of carefully designed product profiles, researchers can determine the tradeoffs consumers are making between brand attributes, and this the importance they are attaching to them  Main advantage: allows us to study different brands and different aspects of the product or marketing program simultaneously The science of branding – understanding how brands affect consumer behaviour  There are theoretical mechanisms which explain why strong brands for which have high brand knowledge. Can classify the mechanisms in three different stages of consumers’ creation and use of brand knowledge: o Attention and learning – the building of brand knowledge structures o Interpretation and evaluation of marketing information or brand alternatives, that is, the use of brand knowledge o Actual choice process – the application of brand knowledge Holistic Methods  We use comparative methods to approximate specific benefits of brand equity. Holistic methods place an overall value on the brand in either abstract utility terms or concrete financial terms  Residual approach: examines value of the brand by subtracting consumers’ preferences for the bran
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