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Seminar One Homework 2

Seminar One Homework 2 - of brand equity Favorable brand...

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Seminar One Homework 2 Due: Tuesday Points Possible: 25 Homework Assignment 2: Brand Management and Brand Loyalty How does advertising affect brand management and development? If building brand loyalty is a goal, can you identify several examples of businesses that have successfully used advertising campaigns to create strong brand equity? How does advertising affect brand management and development? Exposure will lead to increased awareness and familiarize people with the brand. advertising does is to help control the acquisition of value, and give it direction Advertising can make positive brand evaluations and attitudes readily accessible in memory and it is crucial to the development
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Unformatted text preview: of brand equity. Favorable brand attitudes will only guide perceptions and behavior if those attitudes can be instantly evoked. A product is “something that offers a functional benefit”. A brand, on the other hand, is “a name, symbol, design, or mark that enhances the value of a product beyond its functional value”. The premium prices enjoyed by many brands have often been identified with brand equity (Aaker, 1991; Farquhar, 1989). Holden (1992) maintains that brand equity arises from greater brand choice probability by consumers and is reflected in willingness to pay premium prices....
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