Advertising agency Young and Rubicam (Y&R) developed a model of brand equity called BrandAsset® Valuator (BAV). What is the intent of the BAV model? List and briefly characterize the four key components (pillars) of brand equity
What will be an ideal response?
The BAV model is based on research of almost 800,000 consumers in 51 countries. BAV provides comparative measures of the brand equity of thousands of brands across hundreds of different categories. There are four key components — or pillars — of brand equity. These pillars are:
1. energized differentiation — measures the degree to which a brand is seen as different from others, and its perceived momentum and leadership
2. relevance — measures the appropriateness and breadth of a brand's appeal
3. esteem — measures perceptions of quality and loyalty, or how well the brand is regarded and respected
4. knowledge — measures how aware and familiar consumers are with the brand
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Fernando is the owner of Pick Food Restaurant. He makes an oral agreement with Purple Lotus Works for the design and production of 5,000 unique custom-made dinner plates with the logo of Pick Food Restaurant on them. Purple Lotus reworks its production schedule and creates dies to add Pick Food Restaurant's logo in the designer plates. A week later, Fernando calls Purple Lotus and says that he no longer wants the plates and calls off the deal. In this scenario, it is most likely that:
A. the parties' agreement is not valid since it was only an oral agreement. B. the agreement between Fernando and Purple Lotus is unenforceable and Fernando is protected under the statute of frauds. C. the parties' agreement is at Fernando's disposal because he is the customer. D. Purple Lotus is protected by the statute of frauds exception for specially-manufactured goods.
The employer must pay to the IRS the amount owed for Social Security and Medicare by the business plus the amount withheld for the employee
Indicate whether the statement is true or false
The key for planners to remember is that the ______ perceives the wait.
a. guest b. employee c. manager d. organization
Both internal and external factors can influence the pricing decision
Indicate whether the statement is true or false