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Brand Knowledge An ability to create a perception or an image about the brand in the consumer's mind. It is a summation of Brand awareness & Brand Image Brand Knowledge’s components Brand Awareness Brand Image
Brand Awareness The measure of how well people in your target audience are aware of your brand. It is necessary step in making brand equity It is a an important way of promoting commodity based product . Higher brand awareness = Higher sales among the competitors. e.g. Soft Drink industry
A necessary condition for inclusion in the set of brands being considered for purchase.
A sufficient condition for choice in low-involvement decision settings.
Influences the nature and strength of association.
Brand Image It is a complete bundle of thoughts in customer’s mind about a company or a product. Like: 1).How would be Product 2).Service developed through communication. 3).Experience after purchasing.
How Brand Image is reinforced? Brand image can be reinforced by brand communication such as: 1). Packaging 2). Advertising 3). Promotion 4). Customer service 5). Word of mouth 6). Brand experience
Brand Structure Brand structure is a structure of a brand which explain the application of a product. e.g.
Brand Architecture It is a relationship between the mother brand and the subsidiary brands. e.g.- NESTLE There are three types of brand structure are used by Nestle. Corporate dominant branding. Product dominant branding . Hybrid branding.
Source of information www.google.com www.Nestle.com