- Define brand resonance.
Brand resonance can be defined as the relationship that exists between a consumer and the product, especially how well he or she can relate to the product. It tends to be represented by the psychological connection of the consumer to the product and the ability to recall it in various consumption settings without reinforcement.
- Describe the steps in building brand resonance.
The first step is brand salience which involves making the consumers aware of the particular brand by creating an identity. Brand performance and imagery is the second level in building resonance. At this level the product aims to meet the consumer’s functional needs and experience. The third phase is brand judgment and feelings of the consumer about the product. This level is geared at ensuring that the customers feel the superiority and uniqueness of the product over others available in the market. The final step is resonance which occurs when a relationship based on loyalty has been built between the brand and the consumer.
- Define the brand value chain.
The brand value chain is a tactic that appraises sources and outcomes of brand equity and how marketing undertakings define brand value. It is a major contributor of brand decisions as it helps designate each team member’s role in the branding efforts.
- Contrast brand equity and customer equity.
Brand equity deals mostly with the brand’s strategic value, and customer equity is more based on the bottom-line financial value obtained from buyers. Customer equity has a spillover-effect on consumers: if they are loyal, they may buy more than one brand. On the other hand, brand equity has a narrow focus as its value is derived from only one brand.
- Identify the different types of brand elements.
Brand elements include: brand names, packaging and symbols, packaging slogans, characters, jingles, and logos. The mentioned features make a brand easily recognizable which is essential in building loyalty.
- List the general criteria for choosing brand elements.
When choosing brand elements, there are six integral criteria to consider that include memorability, meaningfulness, likability, transferability, adaptability, and protectability.
- Explain the rationale for “mixing and matching” brand elements.
The main rationale behind the “mixing and matching” of brand elements is the fact that first impressions are very important to a brand. How consumers see a product determines their possibility of purchasing it. Therefore, relevant brand names are visually represented by logos and other elements and ought to be easy to recall without reinforcement through advertisements. Therefore, the “mixing and matching” tactic ensures that the brand is memorable even without heightened marketing. Moreover, the brand elements are the primary contributors of the brand identity, and the elements ought to be well positioned to create the necessary awareness and image of the product in order to inspire customer loyalty.
- Highlight some of the legal issues surrounding brand elements.
When choosing brand elements, one of the criteria is that it ought to be competitively and legally protectable which translates to the possible presence of legal issues. A brand name can be legally termed as a conditional-type property which can only be protected after it has been used in trade to identify goods and services. Therefore, a brand becomes a trademark only after it has been used in commerce, and only then can it be protected both legally and from the competition.
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