BUSI 520 Chapter Notes - Chapter 11: Brand Architecture, Brand Equity, Market Power
2 Mar 2018
School
Department
Course
Professor
Document Summary
Credible brand: signals a certain level of quality so satisfied buyers can easily choose the product again. Brand loyalty: provides predictability and security of demand for the firm, and it creates barriers to entry that make it difficult for other firms to enter the market. Branding: process of endowing products and services with the power of a brand. Brand equity: added value endowed to products and services with consumers, tends to emphasize strategic issues in managing brands and creating and leveraging brand awareness and image with customers. Customer based brand equity: differential effect brand knowledge has on consumer response to the marketing of that brand, key ingredients (3, brand equity arises from differences in consumer response. Brand knowledge: all the thoughts, feelings, images, experiences, and beliefs associated with the brand. Brand promise: marketer"s vision of what the brand must be and do for consumers. Brand strength: leading indicator that predicts future growth value, combination of differentiation and relevance.
