BU470 Midterm: Brand Communication Notes
Document Summary
Saves consumers time, lowers search costs don"t need to recreate decision process. Creates trust or level of expectation brand promise . Provides psychological attributes you are what you wear nike. Brands the consumer we construct/express social identities through the brands we consume. Offers legal protection for unique features ex: apple store design. Creates barriers of entry for competitors - provides foundation of specialness . The differential impact of marketing that is uniquely attributable to a brand . The power of a brand lies in what customers have learned, felt, seen, and heard about the brand as a result of their experiences over time the power of a brand lies in what resides in the minds of customers. Brand has positive customer-based equity when consumers react more favourably to a product and the way it is marketed when the brand is identified than when it is not.
