Key values of brand
- Brand associations refers to a set of information nodes held in memory that form a network of associations and are linked to a key variable. For example, variables such as brand image, brand personality, brand attitude, brand preference are nodes within a network that describes the sources of brand-self congruity. In another example, the variables brand recognition and brand recall form a linked network that describes the consumer’s brand awareness or brand knowledge.
- Brand attitude refers to the “buyer’s overall evaluation of a brand with respect to its perceived ability to meet a currently relevant motivation.”
- Brand awareness refers to the extent to which consumers can identify a brand under various conditions.Marketers typically identify two distinct types of brand awareness; namely brand recognition and brand recall.
- Brand equity Within the literature, it is possible to identify two distinct definitions of brand equity. Firstly an accounting definition suggests that brand equity is a measure of the financial value of a brand and attempts to measure the net additional inflows as a result of the brand or the value of the intangible asset of the brand.A different definition comes from marketing where brand equity is treated as a measure of the strength of consumers’ attachment to a brand; a description of the associations and beliefs the consumer has about the brand.[