Chapter 4 - Chapter 4- Knowledge and Understanding Overview...

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Chapter 4- Knowledge and Understanding Overview of Knowledge and Understanding Knowledge Content- information we already have in memory Companies sometimes use marketing to change or add to consumers’ knowledge content Often, companies try to link their brands to other knowledge that consumers already have Knowledge Structure- the way in which knowledge is organized Categorization- the process of labeling or identifying an object Involves relating what we perceive in our external environment to what we already know Comprehension- the process of deepening understanding Involves using prior knowledge to understand more about what we have categorized Knowledge Content Schema- the set of associations linked to a concept Schemes, Associations, and Brand Equity Type Association Favorability Uniqueness- extent to which they are also related to other concepts Salience- how easily they come to mind Abstractness- associations in schemas can very how abstract or concrete Types of Schemas There are schemas for everything and anything Images Image- subset of associations that reflect what something stands for and how favorably it is viewed Brand Image- a subset of salient and feeling related association stored in a brand schema Image doenst represent all associations, only those that are most salient and make brand unique Brand Personality- the set of associations that reflect the personification of the brand Celebrity personality can reinforce association with the endorsed brand’s personality Brand personalities have cultural meaning and reflect cultural values o Therefore must be VERY careful with global brands to make sure you are sending acceptable message Brand personalities can be updated on consumers’ exposure to new information Marketing Implications Schemes, images, and personalities all contribute to a brand’s equity or value of the company Marketers must understand the association that consumers link to a particular product Creating New Schemes, Images, and Personalities When there is new offering, marketer must create scheme, personality, image reflects o What it is
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o What it can do for them o How it differs from competing offerings Can sometimes be created by o Licensing- when sell rights to the brand name to another company that will use the name on its product o Brand Alliance- 2 companies brand names appear together on a single product o Brand Extension- firm uses the brand name of a product with a well developed image on a product in a different category Sometimes if products are different, but have 1 similar attribute a brand extension is good because they know that the similar attribute is something they like PROBLEM May give extension to too many products that it dilutes the brand’s name Potential Problems: o Consumers develop an image for the brand by transferring to it their associations and favorable feelings from the original brand’s schema
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This note was uploaded on 02/25/2012 for the course MGMT 4375 taught by Professor Eixmann during the Fall '11 term at Texas State.

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Chapter 4 - Chapter 4- Knowledge and Understanding Overview...

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