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C onsumer expertise ( includes both the cognitive structures e.g., beliefs about product attributes and cognitive processes e.g., decision rules for acting on those beliefs) required to perform product-related tasks successfully )
is distinguished from product-related experience ( advertising exposures, in f ormation search, interactions with salespersons, choice and decision making, purchasing, and product usage in various situations. )
5 distinct dimensions of expertise :
cognitive effort (automatic detection)
cognitive structure (size and structure of consideration set, attributes and catgorization)
a nalysis (from analytic, rule-based to holistic, similarity-based processing)
Elaboration (less reliance on generalizations, infer benefits more easily, deep structure problems)
C ustomer-based brand equity is defined as “ the differential effect that brand knowledge has on consumer response to marketing activity (price, promotion, advertising etc) for that brand. ” If it is positive, consumers react more favorably to marketing mix activity for the brand, c o mp ared to when the same marketing activity is attributed to a n unnamed version .
Manipulating brand equity results in
the ability to command larger margins from consumers,