MGMC11H3 Chapter Notes - Chapter 3: Brand Awareness, Brand Equity, Social Currency

59 views10 pages
School
Department
Course
MGMC11 – Chapter 3: Brand Resonance and the Brand Value Chain:
-Brand resonance model – considers how brand positioning affects what consumers think, feel, and do and the
degree to which they resonate or connect with a brand
oHow to create intense, active loyalty relationships with customers
-Brand value chain (BVC) model – marketers can trace the value creation process for their brands to better
understand the financial impact of their marketing expenditures and investments
oOffers a holistic, integrated approach to understanding how brands create value
4 Steps of Brand Building:
- Each step is contingent on successfully achieving the objectives of the previous one:
oEnsure identification of the brand with customers and an association of the brand in customers’ minds
with a specific product class, product benefit, or customer need  brand identity
oFirmly establish the totality of brand meaning in the minds of customers by strategically linking a host of
tangible and intangible brand associations  brand meaning
oElicit the proper customer responses to the brand  brand responses
oConvert brand responses to create brand resonance and an intense, active loyalty relationship between
customers and the brand  brand relationships
-Branding ladder – from identity to meaning to responses to relationships
oCannot establish without a created identity
oResponses cannot occur unless we have developed the right meaning
oCannot forge relationships unless we have elicited the proper responses
- Brand building blocks:
oBrand salience – measures various aspects of the awareness of the brand and how easily and often the
brand is evoked under various situations or circumstances
Brand awareness  customers’ ability to recall and recognize the brand under different
conditions and to link the brand name, logo, symbol, etc. to certain associations in memory
Depth of brand awareness  measures how likely it is for a brand element to come to
mind, and the ease with which it does so
Breadth of brand awareness  measures the range of purchase and usage situations in
which the brand element comes to mind and depends to a large extent on the org of
brand and product knowledge in memory
Product category structure  how product categories are organized in memory
Products are grouped at varying levels of specificity and can be organized in a
hierarchical fashion
(low to high) brand info  product type info  product category info  product class info
Plays an important role in brand awareness, brand consideration, and consumer
decision making
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 10 pages and 3 million more documents.

Already have an account? Log in
Depth of brand awareness  influence the probability that the brand comes to mind
Breadth of brand awareness  describes types of situations in which the brand might
come to mind
Strategic implications  may be harder to try to change existing brand attitudes than to remind
people of their existing attitudes toward a brand in additional, but appropriate, consumption
situations
oBrand performance – how well the product/service meets customers’ more functional needs
Primary ingredients and supplementary features
Some attributes are essential necessary for a product to work
Supplementary features allow for customization and more versatile, personalized usage
Product reliability, durability, and serviceability
Reliability  the consistency of performance over time and from purchase to purchase
Durability  expected economic life of the product
Serviceability  ease of repairing the product if needed
Service effectiveness, efficiency, and empathy
Service effectiveness  how well the brand satisfies customers’ service requirements
Service efficiency  the speed and responsiveness of service
Service empathy  extent to which service providers are seen as trusting, caring, and
having the customer’s interests in mind
Style and design
Design  functional aspect in terms of how a product works that affects performance
associations
Sensory aspects beyond functional ones
Price
Creating associations in consumers’ minds about relative expensiveness and frequency
with discounts
Consumers may organize product category knowledge in terms of price tiers
oBrand imagery – how people think about a brand abstractly; more intangible aspects of the brand
User profiles
Type of person or org who uses the brand
Customers’ mental image of actual users or more aspirational, idealized users
Base associations of a typical or idealized brand user on descriptive demographic factors
or more abstract psychographic factors
oDemographic factors: gender, age, race, income
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 10 pages and 3 million more documents.

Already have an account? Log in
oPsychographic factors: attitudes toward life, careers, possessions, social issues
Purchase and usage situations
Type of channel of distributions
Associations for usage situations
Type of activity (formal vs. informal)
Personality and values
oSincerity  down-to-earth, honest, wholesome, cheerful
oExcitement  daring, spirited, imaginative, and up-to-date
oCompetence  reliable, intelligent, successful
oSophistication  upper class and charming
oRuggedness  outdoorsy and tough
Any aspect of a brand may be used by consumers to infer brand personality
Marketing communications and advertising  inferences consumers can make from
user/usage situation depicted/reflected in an ad
Personality is developed  difficult for consumers to accept info they see as inconsistent
with that personality
Brand personality and user imagery can be less closely related in some cases (i.e. food)
If user/usage imagery is important  brand personality and imagery are more likely to be
related
History, heritage, and experiences
Recall distinctly personal experiences and episodes or past behaviours and experiences
of friends/family/others
Highly personal and individual or more well-known and shared by many people
Types of associations can create strong PODs
Draws more specific and concrete examples that go beyond generalization to form
usage imagery
Extreme case: iconic brand by combining all types of associations
Depends on the extrinsic properties of the product/service  how it meets customers’ needs
3 important dimensions: strength, favourability, and uniqueness  brand responses
Brand responses – what customers think or feel about the brand
Brand judgments or brand feelings (from the head or heart)
oBrand judgments – customers’ personal opinions about and evaluations of the brand by putting
together all the different brand performance and imagery associations
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 10 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+
$10 USD/m
Billed $120 USD annually
Homework Help
Class Notes
Textbook Notes
40 Verified Answers
Study Guides
Booster Classes
Class+
$8 USD/m
Billed $96 USD annually
Homework Help
Class Notes
Textbook Notes
30 Verified Answers
Study Guides
Booster Classes