Chapter 5 Flashcards
Definition of a brand:
It’s a name given to identify a product and differentiate it from its competitors
What are the components of a signage?
-The name;
-Brand emblems;
-Graphic representation of the brand;
-Packaging and product design.
What are the roles of the brand?
-For manufacturers–> brands have premium prices and try to stand out from competition;
-For consumers–> Brands will try to find their needs, and reassure them.
What are the legal constraints of the brand?
-Being available;
-Being distinctive (for the name);
-Not being mislead;
-Not going against public policy and morality.
Definition of the multi-brand strategy
It requires that each product offered by an organisation is branded independently of all the others
What are advantages and inconveniences of the multi-branding strategy?
-Advantages–> Saturating market;
-Inconveniences–> Cannibalisation and confusion to customers.
Definition of cash cow
A big market share but slow growth
Definition of star:
It has both market share and growth potentiel
Definition of dogs
These are products with lows market share and growth potential
Definition of question marks
They are impulsive and risky to a company
Definition of range branding
It allows the expansion into nearby territories of complementary products which support the main product’s usage
What are the advantages and inconveniences of range branding?
Advantages–> complete range of products and less expensive to get onto a market;
-Inconveniences–> Useless when there are too many products.
Definition of umbrella branding
A marketing practice which involves many related products under a single brand name
Definition of corporate brands
The at of using the brand name of the company in the advertising efforts
What are the advantages of corporate brands?
Competitive advantage, easier to launch a product and for the brand to get onto a market.
