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Brand Equity Components
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Flashcards
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Brand Loyalty
Refers to a consumer's commitment to repurchase or continue using the brand, represented by repeated buying of a product or service or other positive behaviors such as word of mouth advocacy.
Brand Awareness
The extent to which consumers are familiar with the qualities or image of a particular brand of goods or services.
Brand Associations
The mental connections that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality, as well as product features.
Perceived Quality
The consumer’s perception of the overall quality or superiority of a product or service compared to alternatives and with respect to its intended purpose.
Brand Associations
The mental links that consumers make between a brand and its key product attributes, involving anything tied to the brand's image.
Brand Experience
The sensations, feelings, cognitions, and behavioral responses evoked by brand-related stimuli that are part of a brand's design and identity, packaging, communications, and environments.
Brand Differentiation
The ability to stand out from competitors through unique branding strategies, enabling a strong brand identity that offers distinctive advantages.
Brand Communication
The various methods by which a brand conveys its brand message to customers, shaping perceptions and influencing brand equity.
Brand Valuation
A metric that quantifies the value of the brand as an intangible asset, reflecting the total financial value of the brand.
Brand Extensions
The use of an established brand name in new product categories, this can increase brand equity if the extension is successful.
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