MKT 510 Chapter Notes - Chapter 4: Brand Equity, Morpheme, Cybersquatting
21 Oct 2016
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Chapter 4: choosing brand elements to build brand equity. Brand elements/identities: the trademarkable devices that serve to identify and differentiate the brand. Customer-based brand equity model suggests that marketers should choose brand elements: to enhance brand awareness, facilitate the formation of strong, favourable, and unique brand associations, elicit positive brand judgments and feelings. A brand element that provides a positive contribution to brand equity conveys or implies a certain valued associations or responses. Memorability: brand elements that promote the goal of achieving high awareness are inherently memorable and attention-getting, and therefore facilitate recall or recognition in purchase or consumption settings. Meaningfulness: brand elements may take on all kinds of meaning, with either descriptive or persuasive content: general information about the function of the product or service, specific information about particular attributes and benefits of the brand. Adaptability: because of changes in consumer values and opinions, or simply because of a need to remain contemporary, most brand elements must be updated.
