CMHT 3950_Exam 4

Brand Identify: 5. *Brand vs. Identity vs. Logo*

"As described before, the three major aspects used to understand brand identity are brand perceptions and its conceptual identity translated into its simplest form as a logo"(?)

Horizontal Brand Extension: Reading 2: "The Makings of the Shinola Hotel" 5.*Explain the Shinola Hotel as a successful brand extension strategy.*

"As genuine as the Shinola team aims for its project to be and as much as it believes the city needs a property such as this at this moment, the hotel may still seem like a leap for a brand that's established itself in the fashion and consumer goods space." "The conception of the project, however, goes back even further. Conversations began just a few years after Shinola founder, Tom Kartsotis, the Texas businessman behind watch company Fossil Group Inc., and brand development firm Bedrock Manufacturing Co. — not to be confused with Detroit-based, Dan Gilbert-led commercial real estate firm firm and Shinola Hotel partner, Bedrock Detroit — launched a renewed version of the brand in 2011."

Brand Identify: 8. *Corporate Image-*

"Corporate image" was once advertising jargon but is today a common phrase referring to a company's reputation. (online def)

Brand Orientation: 3. *Well-positioned brands make consumer products and services competitive by ___________________*

Well-positioned brands make consumer products and services competitive by *offering unique experiences that differentiate them from their competitors*

Brand Relevancy: 1. *How was the Lego brand able to stay relevant all these years?* 2. *Examples of how Lego extended its brand*

- The Lego brand illustrates how a brand stayed relevant by extending its cultural relevancy. - Lego adapted to consumer engagement in digital environments by understanding how consumers were assigning hedonic value to engaging in "experiences." To meet this challenge, Lego bought film and TV franchises and brought to life characters and places such as Star Wars, Batman, Harry Potter, and Ghost Busters - all built from Legos. Moreover, Lego created experience centers as destinations for families. These are brick-and-mortar stores where children could immerse themselves in a total Lego experience. These experience centers are located across the U.S. and abroad in malls, theme parks such as Disneyland, and in stand alone Lego destination centers. Lego is an exemplary example of retaining relevancy in the consumer experience.

Horizontal Brand Extension: Reading 2: "The Makings of the Shinola Hotel" 6.*Explain how the hotel incorporate the original Shinola brand values.*

"We here at Shinola talk about values like community, tenacity, humility, and humor. All of the things that we try to apply to our culture and our people, whether those folks are building watches, creating leather goods, or defining an outstanding hospitality experience, those values don't change. The product might, but the values stay the same."

Brand Identify: 4.*Understand how Consumer Habits play a Role in Determining a good Logo.*

"When viewing a brand, consumers have an attention span of about 2 seconds. Thus, it is important to have a visual representation of a brand that quickly relays its attributes"??

Brand Orientation: 2. define *Consumer Brand Orientation -*

(????????) Consumers are more brand oriented than ever before. A brand is not easily copied so this offers companies an exclusive strength. Well-positioned brands make consumer products and services competitive by offering unique experiences that differentiate them from their competitors. Thus, consumer brand orientation is an important asset to companies whose brands have achieved a high affinity (liking) by consumers.

Brand Orientation: 4. *The specific Advantages of Effective Branding include* (3)

*-* Attracts a Wider Population of Customers *-* Increases Patronage *-* Supports Targeted Customers

Brand Awareness: 2. *How do consumers' perceptions generate brand awareness?* (6)

*-* Credibility *-* Relevance *-* Brand Associations - positive or negative relationships with the brand - feelings toward the brand *-* Functional Benefits of Brand - brand personality - organizational values - of the brand company (e.g., Patagonia values sustainability) *-* Self-expressive Benefits - emotional benefits - social benefits *-* Customer Loyalty

Brand Positioning: 2. *Identify the Categories for Positional Rankings of Brands.* (7)

*-* Products *-* Services *-* Sales Revenue (national and international) *-* Market Share *-* Most Valuable *-* Global Impact *-* Innovation

Brand Personality: 3. *A Brand Personality promotes Brand Differentiation using Human Characteristics such as: __________* (4) (U,P,C,C)

*-* Uniqueness *-* Power *-* Competence *-* Creativity

Brand Identify: 3. *What are 6 Reasons a Logo is important?*

*?????*

Brand Strategy: *3. Identify the Top 8 Attributes of a Successful Brand:*

*???????* ?Examples of brand attributes include concepts such as personality, value, trust, sophistication, and durability."

Brand Promise: 1.*Explain Brand Promise as a Value Proposition.*

*A brand offers consumers a value proposition which is the promise of what the brand will deliver.* When consumers engage with a brand they gain value. *The promise is the expected outcome of the consumer's experience with a brand.*

Brand Promise: 4. *Relate Benefit to Brand Promise:*

*A brand promise is a conceptual idea of the benefit that is offered by a brand to the consumer.*

Brand Promise: 3.*Consumer Expectation is formed by __________*

*A consumer's belief in the brand's promised value forms the consumer's expectation.* Thus, the value proposition becomes the basis for assessing how well the brand promise was realized in the overall consumer experience.

Brand Positioning: 1. *Brand positioning is ______________*

*A marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.* Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. *Once a brand is positioned, it is very difficult to re-position it without destroying its credibility.* Also called product positioning. (Def)

Co-Branding: 1. *Explain Co-Branding*

*Combining multiple brands to form a new product line is called co-branding.* - This is an advanced strategy that uses creative collaboration to increase growth of a company. - A co-branded relationship needs to offer benefits to each brand. EX: - Taco Bell + Doritos - Nike + Apple - The Force (Star Wars) + CoverGirl

Brand Equity: 5.*. Understand how Brand Equity can be an Asset or Liability.*

*Depending upon acceptance, a brand can be characterized as either an asset or a liability to a company.* The value of the brand is greatest when is a long-term asset. Successful brands are important assets and are vigorously protected by their companies.

Brand Promise: 6. *Relate Brand Promise to Business Success:*

*Fulfilling a brand promise is the gauge for how successful the brand is when engaging with consumers.* While a brand's value proposition or "promise" may vary from brand to brand, product to product, and service to service, the consumer's expectation that the brand will meet its performance expectation promise during engagement is constant along the dynamic path to purchase.

Horizontal Brand Extension: 1.*Explain the outcome of a Horizontal Brand Extension.*

*Horizontal extension applies an existing brand name to a new product or service.* Examples: *-* Fashion apparel designers to home furnishing - Ralph Lauren - Tommy Hillfiger *-* Fashion product brands to service products - Shinola (watches) to Shinola (hotels) *-* Fashion designers to hotel designers - Armani - Bulgari - Missoni - Versace

Brand Promise: 5. *A company determines how a promise is met by __________*

*In order to determine if the promise is being met, a company must be able to "measure" that promise through some metric.*

Brand Strategy: *2. The 3 Distinct Characteristics of a Product/Service:* (I,A,B)

*Intangible* - is something that cannot be directly observed or measured, i.e. it is a concept. *Attribute* - The qualities of a brand and what it offers to a consumer are measured indirectly by attributes. *Benefit* - Attributes are inherently present and they provide benefits to the consumer.

Brand Strategy: Table 1: Brand Elements - Recognize and apply 5. *Brand Concept*

*The emotional perception of a corporate image as a whole.* A brand is a complicated core concept which stands for the fundamental idea of a brand. It includes the attributes that define the brand idea and reflects everything a company stands for including its values and purpose.

Brand Strategy: 7. *Logo*

*The mark, icon or trademark in its simplest form that identifies a business.* A logo (mark, icon, of trademark) is a symbol of the entire brand and its identity. Logos are used for identification via a mark, flag, symbol or signature. Its meaning comes from the quality of the thing it symbolizes. It does not explain what the thing is. A logo identifies a company brand as something that is recognizable and memorable.

Brand Emotion: 4.*The objective of an Optimal Consumer Experience is:*

*The objective of an optimal consumer experiences is to engage a consumer in a product or service experience that exceeds the customer's expectations.* When this happens, the consumer's emotional involvement with that total experience may be so powerful that affect is evident. This technique is often used in advertising which shows customers with expressions of "joy" or "happiness" in a consumption situation.

Brand Equity: 1.*Brand Equity-*

*The value of a brand is referred to as brand equity.*

Brand Strategy: 6. *Brand Identity*

*The visual aspects that contribute to the overall brand concept.* A brand identity is *built around visual devices including color palettes, fonts, layouts, and measurements.* Generally, a company has rigid guidelines which must be adhered to when creating a visual identity. Consistency in a brand and how it is presented is critical to consumers continuing recognition and involvement with the brand.

Horizontal Brand Extension: Reading 1: "How Shinola Uses Community to Take Their Global Brand" 3.*Understand authenticity from the Shinola perspective.*

*To us, authenticity means transparency.* That's something we like to think we set the bar for. That's the most important thing for us going forward - continuing to show people where their product comes from. For instance, we recently launched our Snapchat with the theme of "Factory Chat Fridays." To us, it's another way to show exactly what's happening within our factory walls. Another reason our content is so authentic is that our in-house content studio truly doesn't sit in a silo. Here at Shinola, we sit in the middle of the room: we've got our creative team in front of us, marketing on one side, and the audio factory is down the hall. I wouldn't have it any other way - you can get ideas from anywhere.

Brand Value: 3. *Relate Utilitarian and Hedonic Values to brands*

*Value is created* when purchasing a product or service *fulfills a consumer's need (utilitarian)* or *want (hedonic)* by meeting a stated personal need or want.

Vertical Brand Extension: 1.*Explain Vertical Brand Extension* 2.*Relate how a Vertical Brand Extension is Differentiated through a Life Cycle.*

*Vertical brand extension is associated with the introduction of a new product line under the same brand name.* - The brand is differentiated in the new product on various attributes such as price points, quality level, or life cycle. - GAP's BabyGap and GapKids are examples of a life cycle in a vertical extension.

Brand Emotion: 1. *Describe Universal Brand Expectations*

- 21st century consumers are developing universal expectations for differentiated branded products and services. Their brand expectation relates to levels of quality and/or uniqueness that distinguishes between branded and non-branded products and services. *Universal Expectations:* an expectation that affects or is done by all people in the world or in a particular group of people; a universal case is applicable to everyone in the group. (Def)

Brand Personality: 2. *A Brand Personality Promotes ______________________________________________________.

- A brand personality *promotes Brand Differentiation* using human characteristics such as uniqueness, power, competence, and creativity.

Brand Equity: 3.*Brand Equity influences Perceptions of Brand Value through ____________* (3) (L,V,A)

- Brand Loyalty - Brand Visibility - Brand Associations

Brand Extension: 3. *The 5 Elements associated with Successful Brand Extensions:*

- Brand Strength - Brand Image - Fit between Parent and Extension Brand - Type of Products and Services - Number of Established Competitors

Brand Transparency: 2.*Explain the relationship between Globalization and Brand Transparency.* 3. *How did the former give rise to the latter?*

- Globalization of consumer goods and services has created new areas where trust needs to be built. - Country variations in sourcing standards has given rise to consumer interest in the concept of brand transparency. Transparency is a consumer response to concerns about value-sensitive production of products related to sustainability, business ethics, and responsible practices.

Brand Distancing: 1.*Distancing-* 3.*Relate Distancing to Vertical Brand Extension.*

- Often a distancing technique is *used to increase or decrease the perceived separation between a core brand and a vertical brand extension.* - In "distancing" the relationship between the core brand and the extended brand is determined by whether they are tied together linguistically (e.g., name) or graphically (e.g., logo). - The greater the distancing of a brand extension by using graphical or linguistic methods, the less likelihood there will be brand dilution in the core brand.

Private Brands: 1.*Explain the purpose of private brand development.*

- Private label brands are *developed to meet the needs and wants for specific product attributes that are known to resonate with the customers of a specific business.* - They are produced exclusively for a retailer and may carry that retailer's name. - Generally, a private label brand is less expensive than a national (independent) brand. - While in the past consumer perceptions of private brands may have attributed lower quality to a brand, that perception is changing.

Brand Emotion: 5. *The impact of Undifferentiated Brands on consumers is ____________*

- When a brand is undifferentiated from other brands, *this negatively impacts the consumer's experience with the brand.* - It *may also limit long-term brand engagement.* - This translates into a consumer who is *less likely to have brand loyalty* which leads to *fewer or no repeat purchases.*

Brand Orientation: 1. *Describe Consumer Affinity for Brands*

- When consumers develop an affinity for a brand *it indicates they like and value it.* - This affinity *leads to repeat purchases, trust, and a brand orientation* which *further strengthens the value a consumer assigns to a brand.*

Brand Identify: 2. *How do well designed logos engage consumers? (6 strategies)*

1. *Grabbing Attention* 2. *Telling the story* (authenticity) of the brand identity 3. *Triggering emotional recall* of brand memories 4. Identifying the brand through a *visual symbol* 5. Differentiating the brand's uniqueness by *communicating company's background and mission* 6. Fostering *brand loyalty* which drives trust

Brand Personality: 5. *The 5 Epic Brand Attributes associated with Personalities :*

1. *Positioning the Brand* - Who are you? - What do you do? - How are you better? - Who is your target market? 2. Delivering *Benefits consumers want* 3. Presenting *Consistent Messaging* 4. Aligning *Pricing with Consumer Value Perception* 5. *Building Brand Equity* through appropriate marketing activities.

Brand Awareness: 1. *Describe the importance of Brand Visibility.*

Consumers gain awareness of a brand and its attributes and benefits, through brand visibility. *The more visible a brand is, the more likely the consumer will purchase it for a benefit*

Brand Positioning: 3. *What are the Most Valuable Brands in the World? 4. *What do they all have in common?*

3. Apple, Google, Microsoft, Amazon, & Facebook (in order) 4. All Technology companies (LOOK AT TABLE)

Brand Positioning: 6. *Individual Brands may vary in their within Categories based on the variety of criteria used to rank brands.*

?? (no idea)

Horizontal Brand Extension: Reading 2: "The Makings of the Shinola Hotel" 7.*Describe the Shinola hotel creating an exceptional brand experience?*

??? "That's what brand experience is about. It's a lot more than a watch on your wrist or a leather bag over your shoulder. It's about experience and emotional connection."

Brand Awareness: 4. *What is perceived Brand Value?*

?????

Horizontal Brand Extension: Reading 1: "How Shinola Uses Community to Take Their Global Brand" 4.*Explain how Shinola embodies their values to create exceptional brand value and overall customer experience.*

?????

Brand Extension: 2.*When extending a brand image, a company is leveraging _____________________.*

?????? "New products can be launched at a lower cost by leveraging information produced by an established brand name."

Brand Efficiency: 3.*Uniqueness might be a justification for _________*

????????

Brand Extension: 4. *Leveraging a brand extension to a new produce establishes an association with ______________ and lowers ____________________.*

??????????

Brand Communities: 1.*Describe a Brand Community*

A brand community is *created when consumers come together to share their common interest in a brand.* - Consumers might join social media sites where the brand is discussed; form clubs or associations; or attend events where the brand is featured.

Brand Strategy: *1. Brand-*

A brand is *a concept that originated as a strategy to publicize the name of a product or service.*

Brand Efficiency: 1.*Explain the relationship of Consumer Efficiency to the Decision Process.*

A brand signals unique intrinsic and extrinsic attributes about a product and service. By doing so, *it becomes part of the consumer decision process and creates consumer efficiency*. The brand *helps consumers form quick decisions regarding how well the brand fits the unique need or want that they have.*

Brand Promise: 2.*Relate Consumer Engagement to Brand Promise*

A consumer's belief in the brand's promised value forms the consumer's expectation. Thus, the value proposition becomes the basis for assessing how well the brand promise was realized in the overall consumer experience. (?)

Co-Branding: 3.*What is the Major Advantage of Co-Branding?*

A major advantage of co-branding is it *can increase consumer awareness of both brands*

Horizontal Brand Extension: 2.*Relate how Taco Bell created a Horizontal Brand Extension*

An interesting example of horizontal brand extension is The Bell. This was a Taco Bell Hotel & Resort which had a limited four-day opening in August 2019. The objective was to satisfy a Taco Bell consumer fan base who had an enduring desire for Taco Bell food. Taco Bell did this through a horizontal extension into an immersive Taco Bell hotel experience. When reservations opened up online, they sold out in 2 minutes! The Taco Bell "fan experience" integrated interior design, food, gift shop, nail art, hair styling, and musicians. (Lucas, 2019)

Brand Transparency: 1.*Relate Brand Transparency to Trust*

Another aspect of consumer value as it relates to brand value is trust. - *Consumers assign to a brand based on its promise to meet a need or want.*

Brand Identify: 7. *What is the Foundation of a Brand?

As described before, the three major aspects used to understand brand identity are brand perceptions and its conceptual identity translated into its simplest form as a logo"(?)

Brand Personality: 1. *Brand Personality-*

Brand Personality: a set of human characteristics that are attributed to a brand name. (Def) - Brand personality is *a strategy that assigns human characteristics to a brand.* - This strategy *makes it easier for consumers to relate to that brand and build trust in the brand.* - When a consumer purchases a brand, he or she is *communicating to others a personal alignment with the attributes of a brand's personality.*

Brand Transparency: 4.*Brand Transparency-*

Brand Transparency: *being upfront and honest with customers to gain consumers' trust.* (Def)

Brand Identify: 9. *What is the Identity, or Image, of a company made up of?* (may be asking what Brand Identity is?)

Brand identity is a positioning strategy for developing brand awareness among consumers(?)

Brand Transparency: 5. *Describe how Blockchain addresses Brand Transparency. Examples?*

Brand transparency is the driving force behind the blockchain concept. - This is *an emerging effort by companies for tracking the impact of production processes on people, places, environment, animals, and cultures.* - In this context, a *consumer's assignment of brand trust is dependent upon how well a company reveals each step of the sourcing pipeline in the production process.* -Consumer products companies use blockchain on product labels to quickly show value concepts to which the company and its product adhere. For example, blockchain would provide label information on production processes such as "sustainable forestry." "no child labor," and "no animal testing."

Brand Emotion: 6. *Affect" evident in a consumer experience though physical changes associated with:* (3) (V,G,E)

Branding produces affect in the consumer. As an emotional state of being, affect can be directly observed through a range of changes in the consumer. They include physical changes such as: - Voice - Gestures - Expressions

Brand Efficiency: 2.*What is the Outcome of Reducing the Complexity of a Decision Process?* (3)

By reducing the complexity of the decision process, the consumer is more efficient as he/she can save: - Time - Energy - Resources (e.g., money).

Brand Awareness: 3. *Why is Consistency Important?*

Consistency in a brand and how it is presented is *critical to consumers continuing recognition and involvement with the brand.*

Private Brands: 4. *Relate Consumers' Personal Values to Private Brands.*

Consumers are attracted to private-label brands when they perceive the brand's close alignment with their personal values. This builds trust in the brand relationship.

Brand Emotion: 2.*Explain the Importance of a Brand Creating an Emotional Connection with the Consumer* 3.*Relate Emotional Connection to Brands:*

Emotional connections are at the very essence of a brand. Brands are primarily about an emotional (hedonic) connection with the consumer. This connection is essential in the overall consumer experience whether it is with a brand product or service. Brands which meet a consumer's expectation through engagement will have connected with the customer on an emotional level. Thus, consumers gain hedonic value when the brand experience produces an emotional outcome.

Brand Strategy: 4. *Identify Brand Attributes and How they can Improve a Brand.*

Examples of brand attributes include concepts such as personality, value, trust, sophistication, and durability. Consumers realize benefits when the branded product or service meets their personal expectation that the brand fulfills a defined need or want.

Brand Communities: 2.*Explain Harley Davidson as a Brand Community*

Harley Davidson is a very successful brand that has created a community. It has the distinction of being an authentic brand. This intangible attribute differentiates it by signaling Harley Davidson is iconic and an original American brand. Harley has retained its original brand attributes and values over time even though the product is constantly redesigned and improved. Harley has never left its original concept of freedom on the road. Its branding statement "All for Freedom. Freedom for All." links Harley Davidson directly to its consumer experience concept "Free[er] to Discover."

Brand Equity: 4.*Apply concepts of Brand Loyalty, Brand Visibility and Brand Associations to Brand Equity and Brand Value* (Table 3)

How brand equity builds brand value: *Brand Loyalty:* - Reduces marketing costs. - Attracts new customers through awareness and reassurance. - Gives time to respond to competitive threats. *Brand Visibility:* - Anchors brand to other associations. - Leads to liking through familiarity. - Brings opportunity for consumer consideration. - Signals signs of commitment. *Brand Associations:* - Helps communicate information. - Differentiates positions. - Gives reason to buy. - Creates positive attitudes and feelings. - Gives basis for extensions.

Brand Equity: 2.*Brand Equity Creates ____*

It represents to how successful a brand is in *creating and maintaining positive consumer acceptance.*

Lifestyle Brands: 2. *Explain what makes Target a private lifestyle brand.*

Its unique lifestyle brands resonate with its customers. Consumers are attracted to private-label brands when they perceive the brand's close alignment with their personal values. This builds trust in the brand relationship. (Repeated content)

Lifestyle Brands: *1. Relate Lifestyle Brands to Consumer Consumption Patterns.*

Lifestyle reflect consumer preferences for the activities, products and services that they desire to be part of their life. This includes a wide range of consumer consumption patternsthat reveal: - personal preferences - situational differences - economic resources - life stages - brand affinities - social identities

Brand Identify: 10. *What is a Logo used for?*

Logos are used to engage consumers and differentiate a business and create emotional recall with consumers (my words)

Brand Personality: 4. *Relate Brand Personality to the Nike and Dove examples.*

NIKE - the Nike's swagger and "Just Do It" messaging suggest confidence which is a human trait. Consumers who purchase the Nike brand may feel empowerment to act - just as the message "Just Do It" suggests. Successful brands such as Nike understand their customers on an emotional level. DOVE - Dove "Campaign for Real Beauty." It addressed the unrealistic beauty standards imposed on women by society. Dove used the tag line "hey, we get it, and we support you" along with a photo of a super model in daylight without the advantage of full makeup, lighting and Photoshop. The Dove example shows how a brand dismissed an ideal concept of "beauty" as not being "real beauty." The Dove campaign championed new consumer experiences with beauty products. In this new experience, women were empowered to celebrate their own beauty as a unique and personal experience.

Private Brands: 2.*Explain Target's strategy in its success in Private Brands.* 3. *Relate how Target private labels make this retailer competitive.*

Target has disrupted the Big Box retailer concept with its designer influenced private label brands. Its unique lifestyle brands resonate with its customers. Consumers are attracted to private-label brands when they perceive the brand's close alignment with their personal values. This builds trust in the brand relationship. See Table 6 for examples of Target private brands.

Brand Positioning: 5. *Understand the Role of Technology in Brand Positioning.*

Technology has emerged as a foundation of nearly all consumer brand experiences. In the Forbes 2019 report on the most valuable brands in the world, the top five were technology brands.

Brand Identify: 6. *Who "Makes" a Brand?*

The consumers make the brand what it is with differentiation and loyalty(?) (my words)

Co-Branding: 2.*What situation would cause a Brand to Lose Value?*

The use of co-branding must be carefully examined to ensure the attributes associated with each brand are aligned and complementary to each other. Otherwise, consumers will be confused and both brands may lose value.

Brand Distancing: 2.*Explain Brand Dilution*

The greater the distancing of a brand extension by using graphical or linguistic methods, the less likelihood there will be brand dilution in the core brand. GAP is a good example of how a brand has avoided brand dilution. Founded in 1969 in San Francisco, GAP is the largest U.S. specialty retailer. Besides GAP, BabyGap and GapKids, its brand extended to Banana Republic (1978) a global lifestyle brand; Old Navy (1994) a value apparel concept; Athelta (2009) a woman's high-performance athletic wear; and Hill City (2018) a men's high-performance active wear.

Brand Value: 1. *Brand Value:*

The value assigned to a brand (?) A branded product or service achieves value when a consumer purchases it. Value is created when purchasing a product or service fulfills a consumer's need (utilitarian) or want (hedonic) by meeting a stated personal need or want.

Brand Value: 2. *Relate Brand Value to Context and Situation*

Value is a dynamic concept. Evidence of *value varies by context and situation.* Thus, *value in one situation may change dramatically when there is a change in any of the situational contexts* where the value was assigned.

Brand Extension: 1.*Relate Brand Extension to a Brand's Core Image.*

When a core brand name is applied to new products or services it creates a brand extension. Attributes of the newly extended brand may either be consistent with or inconsistent with the core brand's image.

Brand Identify: *1. What is the Consumer Attention Span when viewing a brand?*

When viewing a brand, consumers have an attention span of about *2 Seconds*

Brand Equity: 6.*When Brand Equity is Intangible it creates a favorable image by:* (3)

While brand equity is intangible, its favorable image will: *-* Add Value or Goodwill *-* Give an Impression of D\][ifferentiation *-* Strengthen Consumer Attachment

Brand Efficiency: 4. *Relate Consumer Efficiency to a Strategy for Ruth's Chris Steak House.*

With the added cost of a non-alcoholic beverage, a single consumer's meal will most likely exceed $80.00. For most consumer a meal at Ruth's Chris would not be a rationale choice weekly, monthly or even annually. However, Ruth's Chris could be positioned and marketed as a destination for celebrating life events such as anniversaries, birthdays, and significant accomplishments with memorable meals. The experience at Ruth's Chris would add value to the total consumer experience because it added uniqueness to the event. This suggests Ruth's Chris Steak House focus on the consumer experience as a hedonic value gained by being in a destination for memorable occasions. The consumer could rationalize the hedonic value of Ruth's Chris Steak House as a counter-balance to the meal's expense.