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Q3. What is brand equity & how does it benefit the company?
Answer. Brand equity refers to the value integral to a well-known brand. It is the
incremental value of a business above the value of its physical assets due to the
market position achieved by its brand and the extension potential of the brand. Brand
equity can be viewed from the perspective of investor, the manufacturer, the retailer
or the consumer. Brand names add value to each of these groups. Investors
Q4. Discuss three component model of Attitudes. What is the relevance of
this model to advertising objectives?
Answer. Three component model of Attitudes:
Cognitive component
Consumers beliefs about an attitude-object are the attributes they ascribe to it.
These beliefs result from an individuals cognitions or knowledge and perceptions
obtained by experience with the attitude object and allied information. For most
attitude objects, consumers have a number of beliefs and that a specific
Spring-2016