MKTG - Brand Equity Concept .docx - F. THE BRAND EQUITY...

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F. THE BRAND EQUITY CONCEPTDefinition of Brand EquityRepresents the “added value” endowed to a product as a result of past investment in themarketing for the brandDefinition of Customer-Based Brand EquityThe differential effect that brand knowledge has on consumer response to the marketing of thebrand.Sources of Brand EquityBrand IdentityoTreated as internaloUniqueness of the companyoDictated or set by the managers and employees within the companyBrand Knowledge.Consumer’s understanding of a brand.oBrand Awareness.Related to the strength of the brand node or trace inmemory, as reflected by consumers’ ability to identify the brand under differentconditions.Brand Recognition.The ability of consumers to confirm prior exposureto the brand
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