Brand Equity From The Customers Perspective Flashcards
What is the customers choice process?
Awareness-> retrieval -> consideration-> purchase/choice
What is customers decision making process?
Need recognition-> information search-> alternative evaluation-> product choice-> post-purchase behavior
What is involvement?
The level of perceived personal importance and/or interest evoked by a stimulus within a specific situation
- aspects of the product and aspects of the situation determine how likely a consumer is to process information related to the purchase
What are the perceived risks in consuming for the consumer? (5 things)
- functional
- social
- time
- physical
- financial
What are they individual level of influences?
- Motivation (what drives us)
- Learning ( how we process information)
- Attitudes and beliefs ( our overall evaluation of an object or an idea)
- Perception (how we select, organize and interpret stimulus)
What do we mean by brand knowledge?
Brand knowledge= brand awareness + brand image
Brand awareness: the strength of the brand mode or trace in memory, as reflected in consumers ability to identify the brand under different conditions
- awareness is necessary but not sufficient
to achieve strong brand knowledge
Brand image: perceptions about a brand as reflected by the associations held in memory
What is the difference between brand recognition unprompted recall and brand recall?
Brand recognition:
“A consumer can recognize a brand when prompted”
Brand recall:
“ a consumer can retrieve a brand from memory when given a product category, needs fulfilled, purchase situations etc.”
Unprompted recall:
“ might be regarded as stronger test of awareness than prompted recognition”
- brand recognition might be more important when logos are displayed and brand recall when no logos are represented
How can brand awareness be established?( 4 things)
- marketing communications
- repetition
- linking with situations when the brand is consumed
- cues, jingles, slogans, which link a brand with a situation
- associations with events which share an association with the brand
How do you establish brand Image? (5 things)
- linking favourable associations and feelings to brand in memory (coca-cola)
- consistency in message (IMC)
- recognises the needs of customers and communicates this
- presents the relevance of the brand to the consumer
- and its uniqueness
What does brand equity relate to in the CBBE model?
The lowest level, called salience.
- Identity: who are you?
- Deep or broad brand awareness
What is brand salience?
The degree to which your brand is thought about or noticed when a customer is in a buying situation.
- is the brand easily recalled ?
What is the difference between breadth versus depth salience/awareness?
Breadth: the brand is recalled/recognized across a number of categories (virgin)
Depth: the brand is strongly associated with a particular category
What is brand meaning(performance), relating to the second lower level of the CBBE model (performance and imagery)?
- the way in which a brand tries to meet customers functional needs
What are the typical brand performance attributes? (5 things)
- Primary ingredients and supplementary features
- Reliability, durability, serviceability
- Service effectiveness, efficiency, empathy
- Style and design
- Price
What is brand meaning(imagery), relating to the second lower level of the CBBE model (performance and imagery)?
- the intangible aspects of the brand, how it meets psychological or social needs
- what type of people use this brand?
- purchase and usage situations
- personality and values ( brand personality)
- history heritage and experience
