Chapter 2: Customer Based Brand Equity and Brand Positioning

Positioning

Defining our desired or ideal brand knowledge structures and establishing points of parity and points of difference to establish the right brand identity and brand image

Customer Based Brand Equity

The differential effect that brand knowledge has on customer response to the marketing of that brand

Associative Network Memory Model

Memory as a network of nodes and connecting links, in which nodes represent stored information or concepts, and links represent the strength of association between the nodes.

Brand Awareness

The strength of the brand node or trace in memory, which we can measure as the consumer’s ability to identify the brand under different conditions

Brand Image

Consumers’ perceptions about a brand, as reflected by the brand associations held in consumer memory

Brand Recognition

Consumers’ ability to confirm prior exposure to the brand when given the brand as a cue

Brand Recall

Consumers’ ability to retrieve the brand from memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue

Consideration Set

Brands that receive serious consideration for purchase

Heuristic

A mental shortcut that allows consumers to make decisions quickly based on simplified judgments rather than in-depth analysis.

Brand Attributes

Descriptive features that characterize a product or service

Brand Benefits

The personal value and meaning that consumers attach to the product or service attributes

Brand Positioning

The “act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s mind

Market

The set of all actual and potential buyers who have sufficient interest in, income for, and access to a product

Market Segmentation

Divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior, and who thus require similar marketing programs and tactics

Points of Difference

Attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand

Reasons to Believe

Points of Parity

Attributes that are not necessarily unique to the brand but may, in fact, be shared with other brands

Category Points of Parity

necessary—but not necessarily sufficient—conditions for brand choice

Competitive Points of Parity

associations designed to negate competitors’ points-of-difference

Correlational Points of Parity

Potentially negative associations that arise from the existence of other, more positive associations for the brand

Laddering

Reacting

Means End Chains

Brand Mantra

a short, three- to five-word phrase that captures the irrefutable essence or spirit of the brand positioning

Brand Functions

the nature of the product or service or the type of experiences or benefits the brand provides

Descriptive Modifier

Clarifies its nature

Emotional Modifier