Which of the following refers to a potential customers ability to recall that the brand name is a particular type of retailer product or service?

Abstract

The author presents a conceptual model of brand equity from the perspective of the individual consumer. Customer-based brand equity is defined as the differential effect of brand knowledge on consumer response to the marketing of the brand. A brand is said to have positive (negative) customer-based brand equity when consumers react more (less) favorably to an element of the marketing mix for the brand than they do to the same marketing mix element when it is attributed to a fictitiously named or unnamed version of the product or service. Brand knowledge is conceptualized according to an associative network memory model in terms of two components, brand awareness and brand image (i. e., a set of brand associations). Customer-based brand equity occurs when the consumer is familiar with the brand and holds some favorable, strong, and unique brand associations in memory. Issues in building, measuring, and managing customer-based brand equity are discussed, as well as areas for future research.

Inhaltsverzeichnis Show

What Is Brand Awareness?
Key Takeaways
How Brand Awareness Works
Special Considerations Regarding Brand Awareness
Other Ways to Create Brand Awareness
Which of the following is a brand that indicates to consumers the type of merchandise and services offered by the retailer?
Is the customer's ability to recognize and recall the brand?
Which of the following refers to a potential customer's ability to recall that the brand name is a particular type of retailer product or service?
What do you mean by brand recall?
What refers to how quickly or easily a given brand name comes to mind when a product category is mentioned?

Journal Information

The Journal of Marketing (JM) develops and disseminates knowledge about real-world marketing questions relevant to scholars, educators, managers, consumers, policy makers and other societal stakeholders. It is the premier outlet for substantive research in marketing. Since its founding in 1936, JM has played a significant role in shaping the content and boundaries of the marketing discipline?

Publisher Information

Sara Miller McCune founded SAGE Publishing in 1965 to support the dissemination of usable knowledge and educate a global community. SAGE is a leading international provider of innovative, high-quality content publishing more than 900 journals and over 800 new books each year, spanning a wide range of subject areas. A growing selection of library products includes archives, data, case studies and video. SAGE remains majority owned by our founder and after her lifetime will become owned by a charitable trust that secures the company’s continued independence. Principal offices are located in Los Angeles, London, New Delhi, Singapore, Washington DC and Melbourne. www.sagepublishing.com

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The value that a brand image offers retailers

refers to a potential customers ability to recognize or recall that the brand name is a particular type of retailer or product

Occurs when consumers indicate they know the brand when the name is presented to them

Higher level of awareness
When consumers mention a specific brand name first when they are asked about the type of retailer, a merchandise category or a type of service

Anything linked to or connected with the brand name in a consumers memory

Set of associations that are usually organized around some meaningful themes

Integrated Marketing communication program

A program that integrates all the communication elements to deliver a comprehensive, consistent message to all customers over time, across all elements of their retail mix and across all delivery channels

Marketing that communicates directly with target customers to generate a response or transaction

Includes any brochure catalog advertisement or other printed material delivered directly to the consumer through the mail

communication process in which a sales associate helps customers satisfy their needs through face to face exchanges

Specific goals related to the retail communication mix's effect on the customer's decision making process

Based on the economic principal that firms should increase communication expenditures as long as each additional dollar spent generates more than a dollar of additional contribution

Objective and task method

Determines the budget required to undertake specific tasks to accomplish communication objectives

uses past sales and communication activities to determine the present communication budget

Retailers first forecast their sales and expenses, excluding communication expenses during the budgeting period

Percentage-of-sales method

Sets the communication budget as a fixed percentage of forecast sales

Competitive parity method

Communication budget is set so that the retailers share of its communication expenses equals its share of the market

The retailer allocates the budget to areas that will yield the greatest return

What Is Brand Awareness?

Brand awareness is a marketing term for the degree to which consumers recognize a product by its name. Ideally, consumers' awareness of the brand may include positive perceptions of the qualities that distinguish the product from its competition.

Creating brand awareness is a key step in promoting a new product or reviving an older brand.

Key Takeaways

Brand awareness refers to the familiarity of consumers with a particular product or service.
A brand awareness campaign seeks to familiarize the public with a new or revised product and differentiate it from the competition.
Social media has become an important new tool in brand awareness marketing.

How Brand Awareness Works

Products and services that maintain a high level of brand awareness are likely to generate more sales. Consumers confronted with choices are simply more likely to buy a name brand product than an unfamiliar one.

Consider the soft drink industry. Removed from their packaging, many soft drinks are indistinguishable. The giants in the industry, Coca-Cola and Pepsi, rely on brand awareness to make their brands the ones consumers reach for. Over the years, these companies have employed advertising and marketing strategies that have increased brand awareness among consumers, and that has directly translated into higher sales.

This higher rate of brand awareness for dominant brands in a category can serve as an economic moat that prevents competitors from gaining additional market share.

Special Considerations Regarding Brand Awareness

As of 2019, Internet users spent approximately 38 minutes per day on Facebook, 26 minutes on Snapchat, and 27 minutes on Instagram.

Not surprisingly, companies are now spending a great deal of energy promoting brand awareness on these platforms. This has led to new forms of promotion in which consumers themselves generate discussions about products and services that they like and use. Targeted ads on Facebook and Instagram account for a large majority of brand awareness tactics used, especially among Millennial and Gen Z audiences.

Inevitably, consumers also share unfavorable experiences, and marketers are adapting to that reality. It has become crucial for a company to respond to negative reviews and offer a solution to the customer's problem, in real-time.

But as consumers view and interact with social media posts and updates, brand awareness will increase. For brand awareness to be most productive, consumers should be able to connect to the company's website seamlessly from the social media platform.

Other Ways to Create Brand Awareness

Print media is not the force it once was, but there are still consumers who read newspapers and magazines. Advertisements placed strategically, such as in targeted locations in the appropriate section of a newspaper or in specialized publications, can attract the viewer’s attention and create brand awareness.

For example, a new company that will be trading on the forex (FX) may advertise in a magazine that focuses on global trade and currencies in order to create brand awareness among investors.

Advertising in physical locations such as inside stores is also used to create brand awareness. Impulse purchase products are well-suited for in-store distribution and advertising. A company marketing a new candy bar may distribute the product at a point-of-sale (POS) location to create brand awareness.

Event sponsorship is another effective way to create brand awareness. Charitable events, sporting events, and fundraisers allow for prominent visibility of a company's name and logo.

For example, a health insurance company may distribute complimentary company-branded health packs at a charity marathon. This associates the brand with an act of goodwill and community feeling. Awareness of the brand has increased, and its image has been burnished.

Which of the following is a brand that indicates to consumers the type of merchandise and services offered by the retailer?

name the retailer is a brand that indicates to consumers the type of merchandise and services offered by that retailers. value of a brand image offers retailers.

Is the customer's ability to recognize and recall the brand?

Brand recognition refers to the ability of consumers to recognize and identify a specific brand. Brand recognition is typically considered successful when consumers are able to recognize a brand without explicitly being exposed to its name, but merely to visual or auditory cues such as logos, packaging, or jingles.

Which of the following refers to a potential customer's ability to recall that the brand name is a particular type of retailer product or service?

Brand recognition is also referred to as aided brand recall, meaning the capacity of customers to remember a brand name off the top of their heads when told to consider a specific product category.