Transcript Document 7157679

Brand Knowledge
vs. Brand Equity:
What’s the Difference?
Brand Knowledge
 “is
a function of awareness, which relates
to consumers’ ability to recognize or
recall the brand, and image, which
consists of consumers’ perceptions and of
associations for the brand.”
Keller 1998
Consumer-Based Brand Equity
 “…the
differential effect that brand
knowledge has on customer response
to the marketing of that brand.”
Positive brand equity results in:
Greater perceived differentiation
 Stronger brand loyalty
 Larger profit margins
 Higher trade support
 Increased marketing communication
effectiveness
 Opportunities to extend and license brand
name
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What are the unique features of
the brands you buy most often?
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Amazon.com
Dunkin’ Donuts
Yahoo!
Costco
Gap
Supercuts
Coke
Choosing elements to
build brand equity: elements should be:
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memorable, easy to recognize or recall
meaningful or descriptive, persuasive, fun and interesting, rich
in visual and verbal imagery
transferable within and across product categories and across
geographical and cultural boundaries
adaptable or flexible and capable of being updated over time
protectable, both legally and competitively