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Brand equity Within the literature, it is possible to identify two distinct definitions of brand equity. Firstly an accounting definition suggests that brand equity is a measure of the financial value of a brand and attempts to measure the net additional inflows as a result of the brand or the value of the intangible asset of the brand. [48]
Personal branding is a strategic process aimed at creating, positioning, and maintaining a positive public perception of oneself by leveraging unique individual characteristics and presenting a differentiated narrative to a target audience. [1]
In layman's terms, brand preference relates to the psychological phenomenon where people have 'a favourite brand.' This can be driven by factors including a preference for the taste of the product or other sensory qualities; because the packaging may be appealing, or because the product was recommended by another.
Many examples exist of social marketing research, with over 120 papers compiled in a six volume set. [14] For example, research now shows ways to reduce the intentions of people to binge drink or engage in dangerous driving. Martin, Lee, Weeks and Kaya (2013) suggests that understanding consumer personality and how people view others is important.
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. [1] Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. [2] It is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to ...
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name.The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands.
For example, playing somber music with images of people struggling without the product would create an irrational connection to the product by playing on the consumer's sadness. In one way, the brand creates a positive connotation with itself, in another, the brand creates a negative connotation of life without the product.
When we say that a brand has a positive brand-image, it means that the brand has established some strong, favorable and unique associations with the consumer's self-image [8] (e.g. iPods have a strong and explicit image of being trendy, fashionable and high-tech, a combination of brand image that is unique and valued by young people). These ...