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MGMC11H3 Final: MGTC21 Study Notes - CH 2.docx

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School
UTSC
Department
Management (MGM)
Course
MGMC11H3
Professor
Bill Mc Conkey

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Document Summary

What resides in mind of customers: customer-based brand equity differential effect that brand knowledge has on consumer response to the marketing of the brand. Brand equity provides marketers w/ a vital strategic bridge from their past to their future. Brands as a reflection of the past the quality of the investment in brand building is the most critical factors. Brands as direction for the future the true value & future prospects of a brand rest w/ consumers & their knowledge about the brand. Brand knowledge is the key to creating brand equity bc creates differential effect that drives brand equity. Need insightful way to represent how brand knowledge exists in consumer memory. Associative network memory model - views memory consisting of network of nodes. & connecting links: nodes - stored information, concepts, links - strength of association between info or concepts.

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Related Questions

3. Which of the following best describes the production orientation? a) Manufactured goods would sell regardless of their quality, because they were in short supply. b) Businesses have one or more departments specifically designed to understand consumers' needs and readily share this knowledge across departments. c) Production capabilities exceeded regular demand, competition increased and reaching new markets became more complex. d) It uses customer relationship management software. e) It uses production management software

5. Many major corporations have turned to social marketing as a tool to reach out to their consumers in a more informative and casual manner. Some are turning to official corporate blogs because: a) Blogs are personal, interactive and allow for open dialogue with customers b) They legitimize the "chief blogger" role: a trend that has been slowly emerging as an official job title not merely c) They can be a side-task for an executive d) Blogs are increasingly becoming a legitimate means of sharing information e) Both a) and c)