MGMC11H3 Chapter Notes - Chapter 13: Brand Equity, Market Failure, Umbrella Brand
Document Summary
Mgmc11 chapter 13: managing brands over time: Consumer response to past marketing activity brand knowledge consumer response to current marketing activity changed brand knowledge consumer response to future marketing activity. Marketing actions that consistently convey the meaning of the brand to consumers in terms of brand awareness and brand image. Depends on the firm"s general approach to product development, branding strategies, and other strategic concerns. One rule for modern branding: brands can never stand still must constantly move forward. Maintaining brand consistency: critical to maintain the strength and favourability of brand associations, market leaders and failures. Inadequate marketing support dangerous when combined with price decreases. Repositioning or change ad agencies too often can lead to consumers questioning the brand and product: consistency and change. May require numerous tactical shifts and changes in order to maintain the strategic direction of the brand.
