Final Exam Flashcards
Brand Awareness
function of recognition and
recall
Advantages of Brand Awareness
Learn Advantages, Consideration Advantages, Choice Advantages
Establishing Brand Awareness
Brand Elements; a brand name, symbol, logo, character, packaging, or slogan – including advertising and promotion, sponsorship and event marketing, publicity, and public relations (PR), and outdoor advertising
Brand Image
reflects the associations consumers hold
for the brand in memory
Strength of Brand Associations
Personal Relevance, Consistency over time
Favorability of Brand Associations
Marketers create favorable brand associations
by convincing consumers that the brand
possesses relevant attributes/benefits and satisfies needs and wants
Uniqueness of Brand Associations
brand has a sustainable competitive
advantage or “Unique Selling Proposition” that gives consumers a compelling reason why they should buy
Brand Building Blocks
1) brand salience,
2) brand performance,
3) brand imagery,
4) brand judgments,
5) brand feelings,
6) brand resonance
Brand Salience
aspects of awareness of the brand
Brand Performance
This relates to ways in which product / service meets customers’ needs
Brand Benefits
personal value and meaning that consumers
attach to the product or service attributes
Brand Judgements
The customers’ personal opinions and evaluations with regard to the brand
Brand Feelings
The customers’ emotional responses and reactions with respect to the brand
Brand Resonance
The ultimate relationship &
level of identification that the
customer has with the brand
Customer Relationship Management
Uses a company’s data systems and
applications to track consumer activity and
manage customer interactions with the
company.
Customer-Based Brand Equity (CBBE)
when the consumer has a high level of awareness and familiarity with the brand and holds some strong, favourable, and unique brand associations