Strategic Brand MGT Exam 1

the “Brand”

the complete mental representation of all that is associated with an attitude object (any entity that can be branded – product, place, person, group, etc.).

branding elements

all aspects of the brand that are used to identify and differentiate the “Brand.”

Functional risk

The product does not perform up to expectations.

Physical risk

The product poses a threat to the physical well-being or health of the user or others.

Financial risk

The product is not worth the price paid.

Social risk

The product results in embarrassment from others.

Psychological risk

The product affects the mental well-being of the user.

Time risk

The failure of the product results in an opportunity cost of finding another satisfactory product.

Customer-Based Brand Equity

Differential effect in customer response to the brand

Brand knowledge

A result of consumers’ knowledge about the brand

Associations

nodes of information

Memory Traces

linkages between nodes

Brand resonance

when consumers feel that they are “in synch“ with a brand

Salience

Depth and breadth of brand awareness

Performance

What the brand does to meet customers’ more functional needs.

Imagery

How people think about a brand abstractly rather than what they think the brand actually physically

Judgments

Consumers overall brand evaluations

Feelings

Consumers emotional responses and reactions to the brand

Experiential (brand feelings)

immediate, short-lived during purchase/consumption

Enduring (brand feelings)

private, possibly part of day-to-day life

Behavioral Loyalty

Customers’ repeat purchases and the amount or share of category volume attributed to the brand

Attitudinal Attachment

When customers view the brand as being something special in a broader context

Active Engagement

When customers are willing to invest personal resources on the brand – time, energy, money, etc. –beyond those resources expended during purchase or consumption of the brand

Sense of community

When customers feel a kinship or affiliation with other people associated with the brand.

Mental availability

build strong memory structures

Physical availability

distribution (creates behavioral loyalty)