MKT 510 Chapter Notes - Chapter 7: Brand Equity, Chocolate Syrup, Q Score

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Published on 14 Nov 2012
Department
Course
Professor
Thursday September 27th, 2012
Chapter 7:
Leveraging Secondary Brand Knowledge to Build Brand Equity
Leveraging Secondary Associations:
-creation of new brand associations
-effects on current brand knowledge
-brands may be linked to other entities
Example:
Company branding strategies
Events sponsorship
Celebrity endorsements
Co-Branding:
-occurs when 2 or more brands are associated into a joint product
Example:
Sony Ericsson
Nestle Cheerios Chocolate Bar
Advantages of Co-Branding:
-reduce cost of product
-additional revenue
-expand brand meaning
Disadvantages of Co-Branding:
-loss of control
-risk of brand equity
-negative feedbacks
-lack of brand control/focus
Ingredient Branding:
-special case of co-branding that involves creating brand equity for
materials or other parts that are contained within other branded
products
Example: Betty crocker baking mixes with Hershey’s chocolate
syrup
Licensing:
-agreement where firms can use the names logos, character’s etc of
other brand for some fee
Example: television and cartoon character (the simpsons)
Example: designer and accessories (calvin klein)
Celebrity Endorsements:
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