Chapter 2: Strategic Brand Management – Flashcards
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Associative Network Memory Model
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Network of nodes and links! Accurately portrays in detail all salient (important, noticeable) brand associations and responses for a particular target market. Can create a mental map by asking consumers for their top-of-mind brand associations (e.g., "When you think of this brand, what comes to mind?"): Performance (product-related), Imagery (non-product-related).
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Node
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Stored information or concepts.
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Link
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Strength of the association between nodes.
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Recall
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Based on the concept of spreading activation.
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Positioning
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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.
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Components of Brand Knowledge
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Brand Awareness, Familiarity through repeated exposure (IMC), Use lots of comm. options (Ads, PR, SM), Depth vs. Breadth of Awareness.
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Brand Awareness
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Strength of the brand node or trace in memory. Brand Recall and Brand Recognition.
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Brand Recall
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Retrieval given need, product category or some cue. Key: linkages to Product Category, Purchase Situation, or Usage Situation.
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Brand Recognition
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Confirms prior exposure.
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Brand Image
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Consumer perceptions of the brand as reflected by the associations held in memory.
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Brand Meaning
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Based on the number and content of nodes that are connected to the brand in memory.
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2 Needs for Competitive Advantage
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Favorable (based on consumer needs), Unique (associations not shared by competitors)
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Brand Equity
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The difference between the value of the brand to the consumer and the value of the product without that branding
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Customer Based Brand Equity (CBBE)
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The differential effect that brand knowledge has on consumer response to the marketing of the brand.
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Basic premise of CBBE model
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The power of a brand lies in what customers have learned, felt, seen and heard about the brand as a result of their experiences.
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The challenge for marketers with CBBE
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In building a strong brand is ensuring that customers have the right type of experiences with products and services and the marketing programs so that the desired thoughts, feelings, images, beliefs, perceptions opinions become linked to the brand.
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When does a brand have + CBBE
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When consumers react more favorably to a product and the way it is marketed when the brand is identified than when it is not!
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Implications of + CBBE
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Customers are: more accepting of a new brand extension, less sensitive to price increases and withdrawal of advertising support, more willing to seek the brand in a new distribution channel.
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Positioning Model
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Describes how to establish competitive advantages in the minds of consumers.
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Resonance Model
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Describes how to take the competitive advantages and create loyal relationships with customers for brands.
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Value Chain Model
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Describes how to trace the value creation process to better understand the financial impact of the marketing expenditures to create the loyal customer and the strong brand.
