There Are Six Criteria Used in Creating Brand Elements

question 81

Essay

There are six criteria used in creating brand elements. The first three can be characterized as "brand building" in terms of how brand equity can be built through the judicious choice of a brand element. The latter three are more "defensive" and are concerned with how the brand equity contained in the brand element can be leveraged and preserved in the face of different opportunities and constraints. List and briefly characterize the six criteria.

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Definitions:

Prices

The amount of money required to purchase goods or services, typically determined by factors such as demand, supply, and production cost.

Demand Curve

A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at that price.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in the quantity of output sold.

Average Revenue Curve

Represents the relationship between the price of a product and the quantity sold, showing how revenue changes with varying levels of output.