Keller (1993): Conceptualizing, Measuring, and Managing Customer-Based Brand Equity
24 important questions on Keller (1993): Conceptualizing, Measuring, and Managing Customer-Based Brand Equity
What is provided by the paper of Keller (1993)?
From wich perspective is brand equity conceptualised?
What is the Associative Network Memory Model and how does it look?
It shows the components of Brand Knowledge and further.
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How is brand equity defined?
Of which two components exists Brand Knowledge in the Associative Network Memory Model? And what do they entail?
- Brand Awareness: Relates to brand recall and recognition performance by customers. This is related to the strength of the brand node.
- Brand Image: Perceptions about a brand as reflected by the brand associations held in consumer memory.
Of which two components exists Brand Awareness? And what do they entail?
- Brand Recall: Consumers’ ability to retrieve the brand when given the product category, the needs fulfilled by the category, or some other type of probe as a cue.
- Brand recognition: Requires that consumers correctly discriminate (differentiating) the brand as heaving been seen or heard previously.
When is a brand said to have positive customer-based brand equity? And when negative?
- Positive: When consumers react more favourably to an element of the marketing mix for the brand then they do to the same marketing mix element when it is attributed to a fictitiously named or unnamed version of the product or service.
- Negative: When the consumer is familiar with the brand and holds some favourable, strong, and unique brand associations in memory.
Brand awareness plays an important role in consumer decision making role for three major reasons. Which ones?
- It is important that consumers think of the brand when they think about the product category
- Brand awareness can affect decisions about brands in the consideration set
- Brand awareness affects consumer decision making by influencing the formation and strength of brand associations
Brand associations vary according to the ...? (4 dimensions of Brand Image)
- Types
- Favorability
- Strength
- Uniquenss
What are the two motivations for studying brand equity?
- Financially based motivation: Estimate the value of a brand more precisely
- Strategy-based motivation: Improve marketing productivity. Firms seek to increase the efficiency of their marketing expenses
What are the 3 dimensions of Types of Brand Associations (categories of increasing scope)?
- Attributes: Descriptive features that characterise a product or service
- Non-product-related: External aspects related to purchase/consumption
- Product-related: Ingredients necessary for performing of product/service
- Benefits: The personal value consumers attach to the product or service attributes
- Functional: Problem removal/ avoidance
- Experiential: What it feels like to use the product or service
- Symbolic: Social approval or personal expression
- Attitudes: Consumers’ overall evaluations of a brand, that are the basis for behaviour
What is required for building customer-based brand equity?
How can customer-based brand equity be built?
- Choosing brand identities (brand name, logo)
- Easy/familiar or distinctive brand name
- Integration of brand identities in the supporting marketing program
- Familiarity lead to ability to recognize and recall
- Leveraging secondary associations
- Create favourable, strong and unique brand associatons
Brand equity should be thought of as a multidimensional concept that depends on.....?
What are brand identities?
the goods or services and differentiate the seller from the competitors.
- The totality of these identities are called “the brand”.
What is meant by congruence of brand assocations?
Which 2 things shoud the congruence of brand associatons affect?
- How easily existing associations can be recalled
- How easily additional associations can become linked to the brand node in memory.
Choosing to emphasise the company on a particular person, place, or event, should be based on what?
Choosing to emphasise the company on a particular person, place, or event, should be based on what?
By which other sources of influence are beliefs about the brand created?
- Reference groups or publicity
- Direct experience with the brand itself
- Inferences (conclusies) from existing brand associations
What are the two ways of measuring customer-based brand equity? And what do they entail?
- Indirect approach: Assess potential sources of customer-based brand equity by measuring brand knowledge
- Direct approach: Assess the impact of brand knowledge on consumer response to different elements of the firm’s marketing program
What are the two ways of measuring customer-based brand equity? And what do they entail?
- Indirect approach: Assess potential sources of customer-based brand equity by measuring brand knowledge
- Direct approach: Assess the impact of brand knowledge on consumer response to different elements of the firm’s marketing program
What are the 6 guidelines for managing customer-based brand equity?
- Adopt a broad view of marketing decisions
- Define knowledge structures they would like to create in the mind of consumers
- Evaluate the increasingly large number of tactical options available to create these knowledge structures
- Take a long-term view of marketing decisions
- Employ tracking studies to measure consumer knowledge structures over time to detect any changes in the different dimensions of brand knowledge, and suggest how these changes might be related to the effectiveness of different marketing mix actions.
- Evaluate potential extension candidates for their viability and possible feedback effects on core brand image
What is the goal of the paper by Keller (1993)?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
