Consists of activities and processes that help inform and inspire employees about brands

Bitcoin,1,Brand,19,Brand Architecture,2,Brand Elements,1,Brand Equity,13,Brand Equity Analysis,1,Brand Equity Models,1,Brand Extension,1,Brand Loyalty,1,Brand Portfolios,1,Brand Protection,1,Brand Resosnance Model,1,Brand Strategy,2,Brand Value Chain,1,Brand Worth,1,BRANDASSET® VALUATOR,1,brands,1,BRANDZ,1,BRICS Development Bank,1,Consumer Markets,2,consumer preferences,1,Counterfeit Products,1,cryptocurrency,1,Demand Forecast,1,Digital Business,3,Digital Marketing,3,Distribution Channels,4,Effective Segmentation,1,Emerging Markets,3,fake replicas,1,Franchise,1,Franchise Opportunity,1,Franchise Ownership',1,Franchiser,1,Franchising,1,Innovation,1,innovation culture,1,Know Who Based Innovation,1,Levels of Distribution Channel,1,List of Emerging Markets,1,managment of innovation,1,marketing,1,Measuring Brand Equity,3,permanent innovation,1,Positioning Differentiation,4,Pricing Strategy,1,Segmentation,5,SWOT analysis,1,Targeting,2,The New Development Bank (NDB),1,Types of Distributions,2,Types of Marketing Channels,2,Types of wholesale market,1,Wholesealers,1,

CHAPTER 8 ASSIGNMENT1.Provide a definition for the following terms:Brand, Branding, Brand equity, Brandelements, Integrated marketing, Internal branding, Brand portfolio, Flankers, Cashcows, Low-end entry level, High-end prestige.

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Internal brandingis activities and processes that help to inform andinspire employees.Brand bondingoccurs when customers experience the company asdelivering on its brand promise.The brand promise will not bedelivered unless everyone in the company lives the brand.One of the most powerful influences on brand perceptionistheis theexperience customers have with company personnelexperience customers have with company personnel.Companies need to engage in continual open dialogue withemployees.HolisticmarketersmustgoevenfurthertotrainandencourageHolistic marketers must go even further to train and encouragedistributors and dealers to serve their customers well.distributors and dealers to serve their customers well.8-21

Designing Holistic Marketing Activities•Personalization—ensuring that the brandand its marketing are as relevant as possibleto as many customers as possible.•Integration—mixing and matching marketingactivities to maximize their individual andcollective efforts.•Internalization—ensuringemployeesandmarketing partners understand basic brandingideas and know how they can help (or hurt)brand equity.8-22

8-23Designing Holistic Marketing ActivitiesPersonalizationIntegrationInternalization

3- Leveraging Secondary Associations•The third and final way to build equity is, in effect, to “borrow it.”(Secondary Sources of Brand KnowledgeSecondary Sources of Brand Knowledge). That is, brand associationsmay themselves be linked to other entities that have their ownassociations,creating “secondary” brand associationscreating “secondary” brand associations.•The brand may be linked to certain source factors:The company—through branding strategies.Countries or other geographical regions—identification of product originChannels of distribution—channel strategy.Other brands—ingredient or co-branding.Characters—licensing.Spokespeople—endorsements.Sporting or cultural events—sponsorships.Other third party sources—awards or reviews.8-24

8-25Secondary Sources of Brand Knowledge

Measuring and Managing Brand Equity•Given that the power of a brand resides in the minds of consumers andhow it changes their response to marketing, there are two basicapproaches to measuring brand equity.Anindirect approach—assessespotentialsourcesofbrandequityassesses potential sources of brand equityby identifying and tracking consumer brand knowledge structuresby identifying and tracking consumer brand knowledge structures.Adirect approach—assesses the actual impact of brand knowledgeassesses the actual impact of brand knowledgeon consumer response to different aspects of the marketingon consumer response to different aspects of the marketing.•There are important factors marketers should know about brand equity:1.Fully understand the sources of brand equity and how they affect outcomes ofinterest.

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What does brand equity consist of?

What is a means of understanding where and how in what ways brand value is being created to facilitate day to day decision making?

What is brand salience?

What is it called when a firm uses an established brand to introduce a new product?