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Brand equity. Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands. [ 1][ 2][ 3][ 4]
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. [1] Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. [2] It is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to ...
Brand extension is the system of employing a current brand name to enter a different product class. Having a strong brand equity allows for brand extension; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc ...
Brand relationship. A consumer-brand relationship, also known as brand relationship, is the relationship that consumers think, feel, and have with a product or company brand (Fournier, 1998; Veloutsou, 2007). For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand ...
That gives the platform a sense of purpose summed up by its brief mission statement: Keep commerce human. “Behind every item you buy on Etsy is a real person with a real human touch ...
In marketing and consumer behaviour, brand loyalty describes a consumer 's persistent positive feelings towards a familiar brand and their dedication to purchasing the brand's products and/or services repeatedly regardless of deficiencies, a competitor 's actions, or changes in the market environment. It can also be demonstrated with other ...
Co-brandingis a marketing strategythat involves strategic allianceof multiple brand names jointly used on a single product or service. [1] Co-branding is an arrangement that associates a single productor servicewith more than one brand name, or otherwise associates a product with someone other than the principal producer.
Umbrella branding (also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products. [1] [2] Umbrella branding is mainly used by companies with a positive brand equity (value of a brand in a certain marketplace). [3] All products use the same means of identification and ...