MKT 510 Chapter Notes - Chapter 2: Brand Equity, Sales Promotion, Critical Role

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Marla Spergel

Document Summary

Customer based brand equity model (cbbe) incorporates theoretical advances and managerial practices in understanding and influencing consumer behavior. Cbbe model provided unique point of view as to what brand equity it and how it should be built, measured and managed the model approaches brand equity from the perspective of consumers (individuals or an organization) The basic premise of the model is the power of a brand that lies in what customers have learned, felt, seen and heard about the brand as a result of their experience. Challenge for marketers is to build a strong brand, ensure that customers have the right type of experience with products and service so that the desired thoughts, feeling, image, beliefs, perception becomes linked with the brand. 3 key ingredients to the definition: differential effect: differences in consumer response, brand knowledge: result of consumers knowledge about the brand, consumer response to marketing: choice of brand, response to a sales promotion etc.