Management and Organizational Studies 3322F/G Chapter Notes - Chapter 3: Brand Equity, Brand Management, Peer Pressure

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3322F/G
• Professor: Tsorng- Yeh Lee

Document Summary

Brand name: that part of a brand that can be spoken. Brand logo: a symbol that plays a key role in branding and creating an image. The design of the product or packaging along with a colour scheme also play a role in creating brand image. The brand name must be distinctive and meaningful. Whenever and wherever a consumer is choosing between alternatives brands play a role in the decision making process. While brands provide customers with an assurance of quality they also express a set of values that customers can identify with. Brand loyalty (figure 3. 4 on page 71: brand loyalty: the degree of attachment to a particular brand expressed by a consumer. Brand recognition: customer awareness of the brand name and package. Brand preference: the situation where a brand is perceived as an acceptable alternative by a customer and will be purchased if it is available.