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Chapter 6

BUSI 3503U Chapter 6: E-Marketing 2013 - Chapter 6

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BUSI 3503U
Cuiping Chen

Chapter 6: Online Branding EMarketing Brand name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition Brand Equity set of assets and liabilities linked to brands name and symbol that add to or subtracts from the value provided by a product or service to a firm or that firms customers internet retailers with strong customer awareness, such as Amazon,com and CDNow, were able to charge prices that are 712 higher than those lessknown retailers Same compact car would have a market value of approximately 5 more if it carried the Mitsubishi than Dodge During the mid1990s, IBM was able to command 339 over similarly equipped unbranded clones, Dell 320 According to a study of the relationship between cumulative advertising investments in the US tobacco industry between 1967 and 1989 and market share, Marlboro would have had a market share of approximately 14 if it were a average brand Executives at coke, are fond of saying that if all the firms physical assets were destroyed, they would be able to borrow 100 billion to rebuild the company easily Firms Perspective o Brand can be sold o Strong brands attract new customers and keep old ones o Strong brands charge a price premium for the same product o Strong brands capture large market share o Strong brands is capable of extending to new products and markets o Strong brands affect a companys profitability Customers perspective o Customerbased brand equity is defined as the differential effect of brand knowledge on consumer response to the marketing of a brand o Differential effects: Product evaluation, purchasing rates, quality perceptions, product line extensions Product associations, resistance to negative events Price sensitivity, advertising recall, advertising response o Exists when customers react preferentially to the product because of favourable, unique, and strong brand associations o Reflection of a connection between the customer and the brand o Implies that consumers are emotionally and psychologically attached to the brand o Lies entirely in the minds of consumers if the consumer forgets the brand, its value is lost Kellys CustomerBased Brand Equity Framework Four stages of building customerbased brand equity o Establishing the proper brand identity deep, broad brand awareness o Creating appropriate brand meaning pointsofparity and difference o Eliciting the right brand responses positive, accessible reactions o Forging appropriate brand relationships with customers intense, active loyalty Online Branding Presence reinforce Brand Salience Exposure to web advertising animated banner ad or rich media Exposure to the web site stimulated by brand advertising Presence among the results from word search Brand Identity and Doman Name Domain names: hierarchical o Primary .com, .edu o Secondary google, uoit o Third www., nyc.citiybank.com, organization structure Domain name strategy connects closely to an organizations branding and positioning o Reinforce branding, build traffic, anticipate consumer behaviour and mistakes Domain Name Memorable Obtain a category domain name Avoid domains challenging to encode
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