Marketing Communications – Meaning and its Process
Marketing communications is essentially a part of the marketing mix. The marketing mix defines the 4Ps of marketing and Promotion is what marketing communications is all about. It is the message your organization is going to convey to your market. You need to be very particular about different messages you are going to convey through […]
Product Management vs Brand Management
Often, people get confused with the concepts of brand management versus product management. They tend to think that both are the same since they deal with a specific product being marketed and hence managed from incubation to sales. However, there are crucial differences in the way product managers and brand managers operate. For instance, brand […]
B2B Exchanges Evolved Over Time
We are all familiar with the online buying on the internet. In fact with most people in developed countries, ordering groceries, online shopping as well as payment of utility bills and online banking has become a part of life. Internet we can say is a virtual global market. There are several types of businesses that […]
Customer Life Cycle
If in an organization, many customers diverge their way to other organizations and customer acquisition program shows less aggressiveness then the organization faces terrible cash flow problems. This is the time when tracking the number of customers in each stage of customer life cycle becomes essential. This helps the organization to determine the purchasing power […]
Technology Competence – Meaning and its Features
Introduction Technology is a term that is frequently used in the business world. It is a term habitually related to science. But there is a significant difference between the two. Science comprises of outcomes of basic academic studies whereas technology infers to the relevant application of science. This difference is critical when it is to […]
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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