B Equity

Question 1

What is brand equity

Answer 1

It is a set of assets and liabilites linked to a brands name and symbol that adds to or subtracts from the value provided by a product service to a firm and or that firms customers.
Creates value for the firm and customer

Question 2

What are the major asset categories? (4) (BNA-BL-PQ-BA)

Answer 2

1. Brand name awareness
2. Band Loyalty
3. Perceived quality
4. Brand Associations

Question 3

what is Recognition?

Answer 3

It is simply remembering that there was a past exposure to the brand
Can lead to more positve feeling toward anything.

Question 4

What is Brand Recall?

Answer 4

You have recall if your brand comes to mind when its product class is mentioned.

Question 5

Graveyard model Important things to know

Answer 5

High recognition is not necessarily the mark of a strong brand, it is associated with weak ones as well.

2. Movement toward the graveyard is associated with sliding sales and market share.
3. recall is as important as recognition.

Question 6

What is brand name dominance?

Answer 6

Where in a recall task, most customers can only provide the name of a single brand, A1 steak sauce, kleenex, jell-o, This can be fatal if it’s not patented.

Question 7

What is perceived quality?

Answer 7

Is often the key positioning dimension for corporate brands and other brands that range over product classes. Its often the defining point of differentiation.