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