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.
89-456: In the research literature, brand equity has been studied from two different perspectives: cognitive psychology and information economics . According to cognitive psychology, brand equity lies in consumer's awareness of brand features and associations, which drive attribute perceptions. According to information economics, a strong brand name works as a credible signal of product quality for imperfectly informed buyers and generates price premiums as
178-475: A dual process theory , expounded upon by Daniel Kahneman in 2011. Kahneman differentiated the two styles of processing more, calling them intuition and reasoning. Intuition (or system 1), similar to associative reasoning, was determined to be fast and automatic, usually with strong emotional bonds included in the reasoning process. Kahneman said that this kind of reasoning was based on formed habits and very difficult to change or manipulate. Reasoning (or system 2)
267-491: A return on investment . This is directly related to marketing ROI . Brand equity can also appreciate without strategic direction. A Stockholm University study in 2011 documents the case of Jerusalem 's city brand. The city organically developed a brand, which experienced tremendous brand equity appreciation over the course of centuries through non-strategic activities. A booming tourism industry in Jerusalem has been
356-747: A "C" – the promotion of the Nova from trim level to official model status broke the tradition of using C-word names by Chevrolet with its automobile and truck product lineup on a selective basis. The Lincoln-Mercury division of the Ford Motor Company best known brand throughout the late 1960s to 2002 was the Mercury Cougar – first used as a twin to the Ford Mustang and later a personal luxury coupe sharing its platform with its midsize Torino lineup until 1977 when its entire midsize lineup (at
445-402: A brand can hold tremendous value, which is known as brand equity . Social media has changed the traditional communication between brands and consumers and enabled consumer to make positive as well as negative influence on brand equity. Brand Equity is best managed with the development of brand equity goals, which are then used to track progress and performance. There are many ways to measure
534-491: A brand comes to embody a promise about the goods it identifies—a promise about quality, performance, or other dimensions of value, which can influence consumers' choices among competing products . When consumers trust a brand and find it relevant, they may select the offerings associated with that brand over those of competitors , even at a premium price. When a brand's promise extends beyond a particular product, its owner may leverage it to enter new markets. For all these reasons,
623-493: A brand. Some measurements approaches are at the firm level, some at the product level and still others are at the consumer level. Firm Level : Firm level approaches measure the brand as a financial asset. In short, a calculation is made regarding how much the brand is worth as an intangible asset . For example, if you were to take the value of the firm, as derived by its market capitalization—and then subtract tangible assets and "measurable" intangible assets—the residual would be
712-450: A broad sense, is the thoughts that a person has about their own thoughts. More specifically, metacognition includes things like: Much of the current study regarding metacognition within the field of cognitive psychology deals with its application within the area of education. Being able to increase a student's metacognitive abilities has been shown to have a significant impact on their learning and study habits. One key aspect of this concept
801-589: A company's major enduring asset, a brand needs to be carefully managed so its value does not depreciate. Marketers can reinforce brand equity by consistently conveying the brand's meaning in terms of (1) what product it represents, what core benefits it supplies, and what needs it satisfies (2) how the brand makes the product superior and which strong, favorable, and unique brand associations should exist in consumers' minds. Both of these issues – brand meaning in terms of products, benefits, and needs as well as brand meaning in terms of product differentiation – depend on
890-442: A floating base that can capture changes in underlying brand equity for a product over time. Consumer Level : This approach seeks to map the mind of the consumer to find out what associations with the brand the consumer has. This approach seeks to measure the awareness (recall and recognition) and brand image (the overall associations that the brand has). Free association tests and projective techniques are commonly used to uncover
979-489: A form of return to branding investments . It has been empirically demonstrated that brand equity plays an important role in the determination of price structure and, in particular, firms are able to charge price premiums that derive from brand equity after controlling for observed product differentiation . It has been said that brand equity is "the branding of a product name on an attention-deficit public." While most brand equity research has taken place in consumer markets,
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#17327836306461068-418: A greater ability to process social information more often display higher levels of socially acceptable behavior; that the type of social interaction that children have affects their relationships. His model asserts that there are five steps that an individual proceeds through when evaluating interactions with other individuals and that how the person interprets cues is key to their reactionary process. Many of
1157-424: A human being might possibly do; that every psychological phenomenon is a cognitive phenomenon. But although cognitive psychology is concerned with all human activity rather than some fraction of it, the concern is from a particular point of view. Other viewpoints are equally legitimate and necessary. Dynamic psychology , which begins with motives rather than with sensory input, is a case in point. Instead of asking how
1246-402: A man's actions and experiences result from what he saw, remembered, or believed, the dynamic psychologist asks how they follow from the subject's goals, needs, or instincts. The main focus of cognitive psychologists is on the mental processes that affect behavior. Those processes include, but are not limited to, the following three stages of memory: The psychological definition of attention
1335-482: A particular brand at any one time can certainly vary from those that may be most effective for the brand at another time. As a consequence, prices may move up or down, product features may be added or dropped, ad campaigns may employ different creative strategies and slogans, and different brand extensions may be introduced or withdrawn over time in order to create the same desired knowledge structures in consumers' minds. Cognitive psychology Cognitive psychology
1424-512: A small subset of this information, and this is accomplished through the attentional processes. Attention can be divided into two major attentional systems: exogenous control and endogenous control. Exogenous control works in a bottom-up manner and is responsible for orienting reflex , and pop-out effects. Endogenous control works top-down and is the more deliberate attentional system, responsible for divided attention and conscious processing. One major focal point relating to attention within
1513-504: A staple in the realm of education. Piaget's concepts and ideas predated the cognitive revolution but inspired a wealth of research in the field of cognitive psychology and many of his principles have been blended with modern theory to synthesize the predominant views of today. Modern theories of education have applied many concepts that are focal points of cognitive psychology. Some of the most prominent concepts include: Cognitive therapeutic approaches have received considerable attention in
1602-405: A survey of nearly 200 senior marketing managers, only 26 percent responded that they found the "brand equity" metric very useful. Some marketing researchers have concluded that brands are one of the most valuable assets a company has, as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Elements that can be included in
1691-589: A tool to diagnose the power and value of a brand. In using it, the agency surveys consumers' perspectives along four dimensions: CoreBrand – a research, brand strategy, communication, and design firm – utilizes the Brand Contribution to Market Cap method using the Corporate Branding Index® database composed of Familiarity and Favorability data as the quantitative basis of its system. Familiarity and Favorability scores are analyzed in
1780-425: Is "a state of focused awareness on a subset of the available sensation perception information". A key function of attention is to identify irrelevant data and filter it out, enabling significant data to be distributed to the other mental processes . For example, the human brain may simultaneously receive auditory , visual , olfactory , taste , and tactile information. The brain is able to consciously handle only
1869-423: Is applied to determine the stakeholder interest or value assessed in a brand before, during or after an event. As exemplified by Agrawal & Kamakura's (1995) research, the economic worth of celebrity endorsers, the authors demonstrate that an announcement of brand association of a product and celebrity creates a movement in stock value; whereby, shareholder interest is influenced by the endorsement as evidenced from
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#17327836306461958-427: Is based on verbal thinking , leading to a disorderly picture of the findings from brain imaging and brain lesion studies. When theoretical claims are put aside, the evidence shows that interaction depends on the type of task tested, whether of visuospatial or linguistical orientation; but that there is also an aspect of reasoning which is not covered by either theory. Similarly, neurolinguistics has found that it
2047-602: Is difficult to measure. Because brands are crucial assets, however, both marketers and academic researchers have devised means to contemplate their value. Some of these techniques are described below. David Aaker , a marketing professor and brand consultant, highlights ten attributes of a brand that can be used to assess its strength. These include Differentiation, Satisfaction or Loyalty, Perceived Quality, Leadership or Popularity, Perceived Value, Brand Personality, Organizational Associations, Brand Awareness, Market Share, and Market Price and Distribution Coverage. Aaker doesn't weight
2136-491: Is easier to make sense of brain imaging studies when the theories are left aside. In the field of language cognition research, generative grammar has taken the position that language resides within its private cognitive module , while 'Cognitive Linguistics' goes to the opposite extreme by claiming that language is not an independent function, but operates on general cognitive capacities such as visual processing and motor skills . Consensus in neuropsychology however takes
2225-537: Is highly involved in the area of artificial intelligence and its application to the understanding of mental processes. Some observers have suggested that as cognitive psychology became a movement during the 1970s, the intricacies of the phenomena and processes it examined meant it also began to lose cohesion as a field of study. In Psychology: Pythagoras to Present , for example, John Malone writes: "Examinations of late twentieth-century textbooks dealing with "cognitive psychology", "human cognition", "cognitive science" and
2314-412: Is often the case that the advocates of different cognitive models form a dialectic relationship with one another thus affecting empirical research, with researchers siding with their favorite theory. For example, advocates of mental model theory have attempted to find evidence that deductive reasoning is based on image thinking , while the advocates of mental logic theory have tried to prove that it
2403-400: Is often thought of as just short-term memory, it is more clearly defined as the ability to process and maintain temporary information in a wide range of everyday activities in the face of distraction. The famously known capacity of memory of 7 plus or minus 2 is a combination of both memories in working memory and long-term memory. One of the classic experiments is by Ebbinghaus , who found
2492-422: Is realized in the future with significant delay. The distribution/retail sector included both contemporaneous and positive future profitability. Berger et al., (2006) acknowledge the long-term approach for considering customer lifetime value relevant to the shareholder value or financial performance of a brand. This perspective contributed to concepts like "brand awareness", which Huang & Sarigöllü (2012) apply to
2581-583: Is the Baddeley and Hitch model of working memory . It takes into account both visual and auditory stimuli, long-term memory to use as a reference, and a central processor to combine and understand it all. A large part of memory is forgetting, and there is a large debate among psychologists of decay theory versus interference theory . Modern conceptions of memory are usually about long-term memory and break it down into three main sub-classes. These three classes are somewhat hierarchical in nature, in terms of
2670-428: Is the improvement of students' ability to set goals and self-regulate effectively to meet those goals. As a part of this process, it is also important to ensure that students are realistically evaluating their personal degree of knowledge and setting realistic goals (another metacognitive task). Common phenomena related to metacognition include: Modern perspectives on cognitive psychology generally address cognition as
2759-547: Is the scientific study of mental processes such as attention , language use, memory , perception , problem solving, creativity , and reasoning . Cognitive psychology originated in the 1960s in a break from behaviorism , which held from the 1920s to 1950s that unobservable mental processes were outside the realm of empirical science . This break came as researchers in linguistics and cybernetics , as well as applied psychology , used models of mental processing to explain human behavior. Work derived from cognitive psychology
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2848-430: Is to compare the price of a no-name or private label product to an "equivalent" branded product. The difference in price, assuming all things equal, is due to the brand. More recently a revenue premium approach has been advocated. Marketing mix modeling can isolate "base" and "incremental" sales, and it is sometimes argued that base sales approximate to a measure of brand equity. More sophisticated marketing mix models have
2937-516: Is used for brand equity valuation of a company based on its current Familiarity and Favorability, Revenue and Market Cap. The output of the analysis provides the end user with two pieces of data: According to this analysis, the corporate brand is responsible for 5-7% of stock performance on average. Marketers use conjoint analysis to measure consumers' preference for various attributes of a product, service, or provider, such as features, design, price, or location. By including brand and price as two of
3026-483: The Oldsmobile Cutlass Ciera becoming Oldsmobile's best selling model, which at different times would be sold alongside the smaller Cutlass Calais , and a newer Cutlass Supreme . The Aurora-inspired Intrigue introduced in 1988 retired the aging Cutlass nameplate with the intention to recast Oldsmobile into a future as in import fighter and its stodgy past as existing model names which had served in
3115-476: The serial position effect where information from the beginning and end of the list of random words were better recalled than those in the center. This primacy and recency effect varies in intensity based on list length. Its typical U-shaped curve can be disrupted by an attention-grabbing word; this is known as the Von Restorff effect . Many models of working memory have been made. One of the most regarded
3204-514: The 1920s to the 1950s, the main approach to psychology was behaviorism . Initially, its adherents viewed mental events such as thoughts, ideas, attention, and consciousness as unobservable, hence outside the realm of a science of psychology. One early pioneer of cognitive psychology, whose work predated much of behaviorist literature, was Carl Jung . Jung introduced the hypothesis of cognitive functions in his 1921 book Psychological Types . Another pioneer of cognitive psychology, who worked outside
3293-555: The Impala in 2000 as their answer to imports e.g. the Honda Accord and Toyota Camry including its stretched platform Avalon) which had been dormant since 1983 when the company phased out its remaining RWD midsize G platform. As of the 2018 model year, both nameplates are still in production. The Malibu, originally part of the mid-size Chevelle lineup until 1977 as the top trim level, GM promoted its trim level to full model status (at
3382-820: The areas of recognition and treatment of depression has gained worldwide recognition. In his 1987 book titled Cognitive Therapy of Depression , Beck puts forth three salient points with regard to his reasoning for the treatment of depression by means of therapy or therapy and antidepressants versus using a pharmacological-only approach: 1. Despite the prevalent use of antidepressants, the fact remains that not all patients respond to them. Beck cites (in 1987) that only 60 to 65% of patients respond to antidepressants, and recent meta-analyses (a statistical breakdown of multiple studies) show very similar numbers. 2. Many of those who do respond to antidepressants end up not taking their medications, for various reasons. They may develop side-effects or have some form of personal objection to taking
3471-478: The attributes or combine them in an overall score, as he believes any weighting would be arbitrary and would vary among brands and categories. Rather he recommends tracking each attribute separately. Marketing executive Bill Moran has derived an index of brand equity as the product of three factors: Young & Rubicam , a marketing communications agency, has developed the BrandAsset Valuator, BAV,
3560-744: The attributes under consideration, they can gain insight into consumers' valuation of a brand—that is, their willingness to pay a premium for it. Note: These customer satisfaction methodologies have not been independently validated by the Marketing Accountability Standards Board (MASB) according to MMAP (Marketing Metric Audit Protocol) . While event study offer evidence that brand equity positively affects financial performance, many studies focus on customer mindset metrics to offer this relationship (Berger, Eechambadi, George, Lehmann, Rizley & Venkatesan, 2006; Buil, Martinez & de Chernatony, 2013). Event method
3649-522: The boundaries (both intellectual and geographical) of behaviorism, was Jean Piaget . From 1926 to the 1950s and into the 1980s, he studied the thoughts, language, and intelligence of children and adults. In the mid-20th century, four main influences arose that would inspire and shape cognitive psychology as a formal school of thought: Ulric Neisser put the term "cognitive psychology" into common use through his book Cognitive Psychology , published in 1967. Neisser's definition of "cognition" illustrates
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3738-462: The brand and held the brand in high esteem. The same applied to low familiarity and low esteem brands, which as Keller (2002) explains, was "because there was little to risk and much to gain …"(p. 157). Other researchers examine the antecedents of brand equity or brand value. For instance, Roy & Cornwell (2003) showed that lesser known brands may benefit from event sponsorships as a brand-building exercise but customers may have associations with
3827-471: The brand equity of reputable manufacturers. Three brand equity drivers were selected by researchers from numerous factors that have impact on a brand: brand awareness, brand perspective, and brand attachment. Brand equity is strategically crucial, but famously difficult to quantify. Many experts have developed tools to analyze this asset, but there is no agreed way to measure it. As one of the serial challenges that marketing professionals and academics find with
3916-482: The brand equity. Measuring brand equity in this way is often referred to as brand valuation . The modeling is closely related to brand equity, and a number of models and approaches have been developed by different consultancies. Brand valuation models typically combine a brand equity measure (e.g.: the proportion of sales contributed by "brand") with commercial metrics such as revenue or economic profit. Product Level : The classic product level brand measurement example
4005-401: The brand, such as a wide product recall or continued negative press attention ( Blackwater or Halliburton , for example). Colloquially, the term "negative brand equity" may be used to describe a product or service where a brand has a negligible effect on a product level when compared to a no-name or private label product. The greater a company's brand equity, the greater the probability that
4094-554: The brand? Then decide whether to retain the same positioning or create a new one, and if so, which new one. Without question, the most important consideration in reinforcing brands is the consistency of the marketing support that the brand receives – both in terms of the amount and nature of marketing support. Brand consistency is critical to maintaining the strength and favorability of brand associations. Brands that receive inadequate support, in terms of such things as shrinking research and development or marketing communication budgets, run
4183-634: The child develops ToM, they are unable to understand that those around them can have different thoughts, ideas, or feelings than themselves. The development of ToM is a matter of metacognition , or thinking about one's thoughts. The child must be able to recognize that they have their own thoughts and in turn, that others possess thoughts of their own. One of the foremost minds with regard to developmental psychology, Jean Piaget, focused much of his attention on cognitive development from birth through adulthood. Though there have been considerable challenges to parts of his stages of cognitive development , they remain
4272-481: The cognitive processes involved with language that dates back to the 1870s, when Carl Wernicke proposed a model for the mental processing of language. Current work on language within the field of cognitive psychology varies widely. Cognitive psychologists may study language acquisition , individual components of language formation (like phonemes ), how language use is involved in mood , or numerous other related areas. Significant work has focused on understanding
4361-403: The commonly used marketing metrics to determine stock market performance. One of the challenges in managing brands is the many changes that occur in the marketing environment. The marketing environment evolves and changes, often in very significant ways. Shifts in consumer behavior, competitive strategies, government regulations, and other aspects of the marketing environment can profoundly affect
4450-443: The company will use a family branding strategy rather than an individual branding strategy. This is because family branding allows them to leverage the equity accumulated in the core brand. Aspects of brand equity include: brand loyalty, awareness, association and perception of quality. One of Oldsmobile 's best known brands was " Cutlass ". First used in 1961, by the 1980s it was confusingly used on three different platforms, with
4539-423: The concept of brand equity is also important for understanding competitive dynamics and price structures of business-to-business markets. In industrial markets competition is often based on differences in product performance. It has been suggested however that firms may charge premiums that cannot be solely explained in terms of technological superiority and performance-related advantages. Such price premiums reflect
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#17327836306464628-431: The concept of brand equity, the disconnect between quantitative and qualitative equity values is difficult to reconcile. Quantitative brand equity includes numerical values such as profit margins and market share , but fails to capture qualitative elements such as prestige and associations of interest. Overall, most marketing practitioners take a more qualitative approach to brand equity because of this challenge. In
4717-623: The content of the unattended message, while they can shadow a message better if the pitches in each ear are different. However, while deep processing does not occur, early sensory processing does. Subjects did notice if the pitch of the unattended message changed or if it ceased altogether, and some even oriented to the unattended message if their name was mentioned. The two main types of memory are short-term memory and long-term memory; however, short-term memory has become better understood to be working memory. Cognitive psychologists often study memory in terms of working memory . Though working memory
4806-472: The context of a company's size in market cap and revenue to determine a base expected level of Familiarity and Favorability for the brand's value to be zero. Utilizing a statistical regression analysis of the factors driving the cash flow multiple and thus share price, the variance in Familiarity and Favorability above or below the base expected level is analyzed. As a point in time analysis, this method
4895-427: The corpus of information feeding the theories used by cognitive psychologists. Cognitive scientists' research sometimes involves non-human subjects, allowing them to delve into areas which would come under ethical scrutiny if performed on human participants. For instance, they may do research implanting devices in the brains of rats to track the firing of neurons while the rat performs a particular task. Cognitive science
4984-408: The drugs. 3. Beck posits that the use of psychotropic drugs may lead to an eventual breakdown in the individual's coping mechanisms . His theory is that the person essentially becomes reliant on the medication as a means of improving mood and fails to practice those coping techniques typically practiced by healthy individuals to alleviate the effects of depressive symptoms. By failing to do so, once
5073-406: The ear not being consciously attended to. For example, participants (wearing earphones) may be told that they will be hearing separate messages in each ear and that they are expected to attend only to information related to basketball. When the experiment starts, the message about basketball will be presented to the left ear and non-relevant information will be presented to the right ear. At some point
5162-522: The event sponsors or brand associations that could determine affective attitudes. Ultimately, high equity counterparts will yield stronger results due to their market familiarity. Simon & Sullivan (1993) suggested long-term analysis of events, as determined by financial returns and market performance, better captures the effect of customer mindset brand equity. In the restaurant sector, for example, returns of branding are contemporaneous. The high-tech sector showed no contemporaneous effects and brand equity
5251-455: The field of cognitive psychology is the concept of divided attention. A number of early studies dealt with the ability of a person wearing headphones to discern meaningful conversation when presented with different messages into each ear; this is known as the dichotic listening task. Key findings involved an increased understanding of the mind's ability to both focus on one message, while still being somewhat aware of information being taken in from
5340-505: The firm's general approach to product development, branding strategies, and other strategic concerns. Any new development in the marketing environment can affect a brand's fortune. Nevertheless, a number of brands have managed to make impressive comebacks in recent years. Often, the first thing to do in revitalizing a brand is to understand what the sources of brand equity were to begin with. Are positive associations losing their strength or uniqueness? Have negative associations become linked to
5429-419: The fortunes of a brand. Besides these external forces, the firm itself may engage in a variety of activities and changes in strategic focus or direction that may necessitate adjustments in the way that its brands are being marketed. Consequently, effective brand management requires proactive strategies designed to at least maintain – if not actually enhance – brand equity in the face of these different forces. As
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#17327836306465518-499: The goal of gathering information related to how the human mind takes in, processes, and acts upon inputs received from the outside world. The information gained in this area is then often used in the applied field of clinical psychology . Cognitive science is better understood as predominantly concerned with a much broader scope, with links to philosophy, linguistics, anthropology, neuroscience, and particularly with artificial intelligence. It could be said that cognitive science provides
5607-620: The human mind interprets stimuli from the senses and how these interpretations affect behavior. An example of the way in which modern psychologists approach the study of perception is the research being done at the Center for Ecological Study of Perception and Action at the University of Connecticut (CESPA). One study at CESPA concerns ways in which individuals perceive their physical environment and how that influences their navigation through that environment. Psychologists have had an interest in
5696-424: The idea of mind-body dualism , which would come to be known as substance dualism (essentially the idea that the mind and the body are two separate substances). From that time, major debates ensued through the 19th century regarding whether human thought was solely experiential ( empiricism ), or included innate knowledge ( nativism ). Some of those involved in this debate included George Berkeley and John Locke on
5785-813: The level of conscious thought related to their use. Perception involves both the physical senses (sight, smell, hearing, taste, touch, and proprioception ) as well as the cognitive processes involved in interpreting those senses. Essentially, it is how people come to understand the world around them through the interpretation of stimuli. Early psychologists like Edward B. Titchener began to work with perception in their structuralist approach to psychology. Structuralism dealt heavily with trying to reduce human thought (or "consciousness", as Titchener would have called it) into its most basic elements by gaining an understanding of how an individual perceives particular stimuli. Current perspectives on perception within cognitive psychology tend to focus on particular ways in which
5874-423: The like quickly reveal that there are many, many varieties of cognitive psychology and very little agreement about exactly what may be its domain." This misfortune produced competing models that questioned information-processing approaches to cognitive functioning such as Decision Making and Behavioral Sciences . In the early years of cognitive psychology, behaviorist critics held that the empiricism it pursued
5963-504: The message related to basketball will switch to the right ear and the non-relevant information to the left ear. When this happens, the listener is usually able to repeat the entire message at the end, having attended to the left or right ear only when it was appropriate. The ability to attend to one conversation in the face of many is known as the cocktail party effect . Other major findings include that participants cannot comprehend both passages when shadowing one passage, they cannot report
6052-562: The middle position that, while language is a specialized function, it overlaps or interacts with visual processing. Nonetheless, much of the research in language cognition continues to be divided along the lines of generative grammar and Cognitive Linguistics; and this, again, affects adjacent research fields including language development and language acquisition . Categorization Knowledge representation Language Memory Perception Thinking Tourism industry Too Many Requests If you report this error to
6141-402: The most evident indicator of a strong ROI . The purpose of brand equity metrics is to measure the value of a brand. A brand encompasses the name, logo , image, and perceptions that identify a product, service, or provider in the minds of customers. It takes shape in advertising , packaging , and other marketing communications, and becomes a focus of the relationship with consumers. In time,
6230-578: The most significant cars in American auto history, would be abandoned in favor of three entirely new names, all starting with "F," the Five Hundred , Freestar , and Fusion . By 2007, the Freestar was discontinued without a replacement. The Five Hundred name was thrown out and Taurus was brought back for the next generation of that car in a surprise move by Alan Mulally . In practice, brand equity
6319-519: The past, including Cutlass, were phased out. But sales would continue to decline, as Cutlass briefly re-appeared as a rebadged Malibu in 1997. To reduce costs at General Motors by consolidating a profusion of divisions, the Oldsmobile division was entirely phased out in 2004. Rival GM division Chevrolet re-entered the midsize market when the company resurrected the Malibu nameplate in 1997 (and later
6408-543: The patient is weaned off of the antidepressants, they often are unable to cope with normal levels of depressed mood and feel driven to reinstate use of the antidepressants. Many facets of modern social psychology have roots in research done within the field of cognitive psychology. Social cognition is a specific sub-set of social psychology that concentrates on processes that have been of particular focus within cognitive psychology, specifically applied to human interactions. Gordon B. Moskowitz defines social cognition as "...
6497-524: The previous tradition of naming all sport utility vehicles since the Ford Explorer with the letter "E." The Toronto Star quoted an analyst who warned that changing the name of the well known Windstar to the Freestar would cause confusion and discard brand equity built up, while a marketing manager believed that a name change would highlight the new redesign. The aging Taurus , which became one of
6586-457: The prices that the consumer accepts to pay when the brand is known compared to the value of the benefit received. There are two schools of thought regarding the existence of negative brand equity. One perspective states brand equity cannot be negative, hypothesizing only positive brand equity is created by marketing activities such as advertising, PR, and promotion. A second perspective is that negative equity can exist, due to catastrophic events to
6675-489: The prominent names in the field of developmental psychology base their understanding of development on cognitive models. One of the major paradigms of developmental psychology, the Theory of Mind (ToM), deals specifically with the ability of an individual to effectively understand and attribute cognition to those around them. This concept typically becomes fully apparent in children between the ages of 4 and 6. Essentially, before
6764-582: The risk of becoming technologically disadvantaged or even obsolete. Consistency does not mean, however, that marketers should avoid making any changes in the marketing program. On the contrary, the opposite can be quite true – being consistent in managing brand equity may require numerous tactical shifts and changes in order to maintain the proper strategic thrust and direction of the brand. There are many ways that brand awareness and brand image can be created, maintained, or improved through carefully designed marketing programs. The tactics that may be most effective for
6853-779: The side of empiricism, and Immanuel Kant on the side of nativism. With the philosophical debate continuing, the mid to late 19th century was a critical time in the development of psychology as a scientific discipline. Two discoveries that would later play substantial roles in cognitive psychology were Paul Broca 's discovery of the area of the brain largely responsible for language production, and Carl Wernicke 's discovery of an area thought to be mostly responsible for comprehension of language. Both areas were subsequently formally named for their founders, and disruptions of an individual's language production or comprehension due to trauma or malformation in these areas have come to commonly be known as Broca's aphasia and Wernicke's aphasia . From
6942-474: The study of the mental processes involved in perceiving, attending to, remembering, thinking about, and making sense of the people in our social world". The development of multiple social information processing (SIP) models has been influential in studies involving aggressive and anti-social behavior. Kenneth Dodge's SIP model is one of, if not the most, empirically supported models relating to aggression. Among his research, Dodge posits that children who possess
7031-406: The tangible and intangible attributes, attitudes, and intentions about a brand. Brands with high levels of awareness and strong, favorable and unique associations are high equity brands. All of these calculations are, at best, approximations. A more complete understanding of the brand can occur if multiple measures are used. Brand equity is the positive effect of the brand on the difference between
7120-421: The then-progressive concept of cognitive processes: The term "cognition" refers to all processes by which the sensory input is transformed, reduced, elaborated, stored, recovered, and used. It is concerned with these processes even when they operate in the absence of relevant stimulation, as in images and hallucinations . ... Given such a sweeping definition, it is apparent that cognition is involved in everything
7209-715: The time branded as the Montego) was rebadged as part of the Cougar lineup which went viral (from a base coupe to a station wagon) until the early 1980s when L-M repositioned its midsized lineup by rebadging the Cougar under the Marquis nameplate. In the early 2000s in North America, the Ford Motor Company made a strategic decision to brand all new or redesigned cars with names starting with "F." This aligned with
7298-546: The time the Chevelle nameplate was retired (and has remained dormant since because of its association with the musclecar era) its trim level had brand recognition and better known), a practice first demonstrated in 1969 when the Chevy II lineup was rebadged (the Nova was the top trim level; it was one of the finalists for the official model name dating back to 1962 but Chevrolet management wanted its car nameplates beginning with
7387-404: The time-series data. A similar time-series data analysis offered by Lane & Jacobson (1995) also measured stock market reactions to announcements associated with a particular brand, which factored customer attitudes and the familiarity of the brand to determine financial outcomes. The result was that the stock market response was favorable to brand announcements when consumers were familiar with
7476-519: The timing of language acquisition and how it can be used to determine if a child has, or is at risk of, developing a learning disability . A study from 2012 showed that, while this can be an effective strategy, it is important that those making evaluations include all relevant information when making their assessments. Factors such as individual variability, socioeconomic status , short-term and long-term memory capacity, and others must be included in order to make valid assessments. Metacognition , in
7565-547: The treatment of personality disorders in recent years. The approach focuses on the formation of what it believes to be faulty schemata, centralized on judgmental biases and general cognitive errors. The line between cognitive psychology and cognitive science can be blurry. Cognitive psychology is better understood as predominantly concerned with applied psychology and the understanding of psychological phenomena. Cognitive psychologists are often heavily involved in running psychological experiments involving human participants, with
7654-687: The valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements , brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values. Consumers' knowledge about a brand also governs how manufacturers and advertisers market the brand. Brand equity is created through strategic investments in communication channels and market education and appreciates through economic growth in profit margins , market share , prestige value, and critical associations . Generally, these strategic investments appreciate over time to deliver
7743-447: Was incompatible with the concept of internal mental states. However, cognitive neuroscience continues to gather evidence of direct correlations between physiological brain activity and mental states, endorsing the basis for cognitive psychology. There is however disagreement between neuropsychologists and cognitive psychologists. Cognitive psychology has produced models of cognition which are not supported by modern brain science . It
7832-445: Was integrated into other branches of psychology and various other modern disciplines like cognitive science , linguistics , and economics . Philosophically, ruminations on the human mind and its processes have been around since the times of the ancient Greeks . In 387 BCE, Plato had suggested that the brain was the seat of the mental processes. In 1637, René Descartes posited that humans are born with innate ideas and forwarded
7921-415: Was slower and much more volatile, being subject to conscious judgments and attitudes. Following the cognitive revolution, and as a result of many of the principal discoveries to come out of the field of cognitive psychology, the discipline of cognitive behavior therapy (CBT) evolved. Aaron T. Beck is generally regarded as the father of cognitive therapy , a particular type of CBT treatment. His work in
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