Customer-based brand equity occurs when consumer response to marketing activity differs, when consumers know the brand, and when they do not. A number of benefits can result from a strong brand, both in terms of greater revenue and lower costs. Some of the benefits to the firm of having brands with a high level of awareness and a positive brand image:
Greater Loyalty and Less Vulnerability to Competitive Marketing Actions and Crises · Larger Margins · Greater Trade Cooperation and Support · Increased Marketing Communication Effectiveness · Possible Licensing and Brand Extension Opportunities Brands with positive customer-based brand equity may provide other advantages to the firm not directly related to the products themselves, such as helping the firm to attract or motivate better employees, generate greater interest from investors, and garner more support from shareholders.
Can you think of any negatively correlated attributes and benefits? Can you think of any other strategies to deal with negatively correlated attributes and benefits?