Leaders Do Things Differently
AT&T Universal Card Services entered the credit card market at a time when the market was mature and there were numerous retail banking companies dealing with credit cards. In such a situation, the company chose to introduce their credit card with a competitive edge over competition. Against a market where in customers were paying huge […]
Catch Them Young and Watch Them Grow: CSR Initiatives in Primary and Secondary Education
CSR Initiatives in Primary and Secondary Education CSR or Corporate Social Responsibility initiatives can extend to the realm of primary and secondary education. This entails close engagement and involvement of corporates in the schools, colleges, and universities where the corporates provide for funds, training, and associated programs with a view to educate the future workforce […]
The Need for Product Management in Organizations
More often than not, organizations spend a fortune on marketing and product development separately. This is the case with many companies that have different departments dealing with marketing and product development without any coordination. It is left to each of the departments to try and understand what the others are saying to form a cohesive […]
Integrating Marketing Communication to Build Brand Equity
Marketing programs play an important role in building up of brand equity. These marketing programs are related to product, price and distribution channels. And these programs are necessary to create brand image and also to build brand awareness. This task is done through medium of marketing communication, in its most form is advertising. Marketing communication […]
Corporate Reputation Management in the Post Truth Era and the Age of Fake News
What is Fake News and What is Post Truth We live in times that have been called the Era of Post Truth and the Age of Fake News where facts are facts only in the sense that they are believed by individuals alone and it does not matter whether such facts are made up, debunked […]
Brand awareness is the probability that consumers are familiar about the life and availability of the product. It is the degree to which consumers precisely associate the brand with the specific product. It is measured as ratio of niche market that has former knowledge of brand. Brand awareness includes both brand recognition as well as brand recall.
Brand recognition is the ability of consumer to recognize prior knowledge of brand when they are asked questions about that brand or when they are shown that specific brand, i.e., the consumers can clearly differentiate the brand as having being earlier noticed or heard.
While brand recall is the potential of customer to recover a brand from his memory when given the product class/category, needs satisfied by that category or buying scenario as a signal.
In other words, it refers that consumers should correctly recover brand from the memory when given a clue or he can recall the specific brand when the product category is mentioned. It is generally easier to recognize a brand rather than recall it from the memory.
Brand awareness is improved to the extent to which brand names are selected that is simple and easy to pronounce or spell; known and expressive; and unique as well as distinct. For instance - Coca Cola has come to be known as Coke.
There are two types of brand awareness:
The relative importance of brand recall and recognition will rely on the degree to which consumers make product-related decisions with the brand present or not. For instance - In a store, brand recognition is more crucial as the brand will be physically present. In a scenario where brands are not physically present, brand recall is more significant (as in case of services and online brands).
Building brand awareness is essential for building brand equity. It includes use of various renowned channels of promotion such as advertising, word of mouth publicity, social media like blogs, sponsorships, launching events, etc.
To create brand awareness, it is important to create reliable brand image, slogans and taglines. The brand message to be communicated should also be consistent. Strong brand awareness leads to high sales and high market share.
Brand awareness can be regarded as a means through which consumers become acquainted and familiar with a brand and recognize that brand.
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