Theme 1.3.2: Part Two Promotion Flashcards
Product Branding
A single product recognised under one name e.g jacuzzi
Multiple Branding
A business that uses a number of different brand names for its products e.g Unilever with their huge product portfolio
Umbrella Branding
A business that uses the same brand name but for a range of different products e.g Samsung with phones to washing machines
Corporate Branding
The name of the business is itself the brand e.g Facebook, Snapchat
Own Label Branding
Common amongst supermarkets to compete with names brands e.g ASDA smart price
Personal Branding
Individuals who themselves become a brand e.g Georgio Armani, Ted Baker
Added Value
The difference between selling price and the cost of its input material in terms of the value a consumer places on it
Brand Loyalty
Consumers have associated trust with a certain brand which usually means they are willing to pay more for their products
What gives consumers brand loyalty?
. Reputation
. Reliability
. Style
What does strong branding lead to?
. Premium Pricing - More profitability
. Reduces PED
. Customer satisfaction
Unique Selling Point
A distinctive feature(s) that no competing product has making the product in question stand out to consumers
Is a USP always a physical feature?
No - can simply be a perception developed through clever marketing e.g Red Bull perceived as better than other energy drinks despite little to no difference
How does sponsorship effect Branding?
Gives a positive perception of a certain brand in terms of ethics and social impact
How do adverts impact a brand?
Reinforce a positive outlook on the business
Viral Marketing
Strategy that encourages individuals to pass on a marketing message to another individual
