Are you an EPFL student looking for a semester project?
Work with us on data science and visualisation projects, and deploy your project as an app on top of GraphSearch.
Concept
Brand awareness
Summary
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but they must be able to recall enough distinguishing features for purchasing to proceed. Creating brand awareness is the main step in advertising a new product or bringing back the older brand in light.
Brand awareness consists of two components: brand recall and brand recognition. Several studies have shown that these two components operate in fundamentally different ways as brand recall is associated with memory retrieval, and brand recognition involves object recognition. Both brand recall and brand recognition play an important role in consumers’ purchase decision process and in marketing communications. Brand awareness is closely related to concepts such as the evoked set and consideration set which include the specific brands a consumer considers in purchasing decision. Consumers are believed to hold between three and seven brands in their consideration set across a broad range of product categories. Consumers typically purchase one of the top three brands in their consideration set as consumers have shown to buy only familiar, well-established brands.
As brands are competing in a highly globalized market, brand awareness is a key indicator of a brand's competitive market performance. Given the importance of brand awareness in consumer purchasing decisions, marketers have developed a number of metrics designed to measure brand awareness and other measures of brand health.
Official source
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.
Related concepts (13)
Brand awareness
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category.
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands.
Consumer behaviour
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics (especially behavioural economics).
Related courses (4)
MGT-401: Strategic marketing & technology commercialization
This course teaches students the power of building and implementing marketing strategies in order to help businesses to commercialize successfully their technological innovations.
It offers a large
It offers a large
MGT-411: Innovation management
This is a collection of lectures on "structured innovation systems," codified approaches to stimulating and managing the process of innovation. Some of the systems to be covered may be Design Thinking
DH-406: Machine learning for DH
This course aims to introduce the basic principles of machine learning in the context of the digital humanities. We will cover both supervised and unsupervised learning techniques, and study and imple