Brand Knowledge Week 2

Brand Knowledge

• Brand knowledge is comprised of brand awareness and brand image.

Brand Awareness

• Heightening brand awareness provides the advantage of increased consumer preference and loyalty.
• Brand awareness can be built through advertising, promotions, and sponsorship.

Choosing a Brand for the Brand Audit Project

• Students should consider the following when choosing a brand: accessibility, relevance, and competition.
• Avoid choosing a brand that is too narrow or too broad.

Definition of a Brand

• A brand is a unique set of associations that a product or service has in the minds of customers.

Brand Equity

• Brand equity refers to the value that a brand generates beyond the functional value of a product or service.
• In a blind test, brand equity manifests as a difference in consumer perception or preference between a branded product and an unbranded product.

Brand Image

• Brand image is stored in consumer memory through a network of associations.
• Unique associations should be chosen to enhance brand image and differentiate it from competitors.
• Secondary associations should be chosen to add depth and meaning to the brand image.
• Unique associations should be chosen to increase brand liking and create an emotional connection with the consumer.

Unique Selling Proposition (USP)

• The unique selling proposition of a product is the unique benefit that it offers to customers.

Brands Mentioned

• The brand that focuses on environmental awareness and against animal testing is Lush.

Test your brand knowledge and learn how information is stored with this quiz! Explore various towel, shampoo, shower, and soap brands and discover how they store important information. Take the quiz now to expand your brand knowledge!