MGMA01H3 Chapter Notes - Chapter 9: Brand Valuation, Brand Equity, Brand Management
Document Summary
Chapter 9 p. 301-305 branding strategy: building strong brand. Brands represent consumers" percepions and feelings about a product and its performance. Brand equity is the diferenial efect that knowing the brand name has on customer response to the product and its markeing. ( can be +/-ve) A measure of the brand"s ability to capture consumer preference and loyalty. Oten obtained not only by unique products/services but also by deep connecions with customers. Four consumer percepion dimensions: difereniaion (what makes the brand stands out); relevance (how consumers feel it meets their needs), knowledge (how much consumers know about the brand) and esteem (how highly consumers regard and respect the brand) In fact that a brand is highly difereniated doesn"t necessarily mean that consumers will buy it. Brand valuaion is the process of esimaing the total inancial value of a brand. High brand equity provides a company with many compeiive advantages.
