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Brand Management Flashcards

(49 cards)

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1
Q

loyalty programs: different advantages

A
  1. Increased customer
    satisfaction
  2. Reduced Customer churn
  3. Increased attraction of
    new customers
  4. Improved profitability
    (cross/up-selling)
  5. Improved profitability
    (reduction in benefit
    expenditure)
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2
Q

Increased customer satisfaction

A
  • Simple/responsive access to the program geared towards target customers
  • Improved platform with
    value-driving functions
  • Prioritized access and
    additional contact points
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3
Q

Reduced Customer churn

A
  • Advantages for loyal
    policyholders
  • Targeted direct contact with insured persons through
    personalized message
  • Special offers for target
    customers or customers
    willing to switch
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4
Q

Increased attraction of
new customers

A
  • Easy access even for non-
    customers and direct
    points of contact for
    switching insurance or
    insurance models
  • Attractive incentive
    system (set of rewards or benefits designed to encourage desired behaviors)
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5
Q

Improved profitability
(cross/up-selling)

A
  • Specific range of additional products tailored to customer needs
  • Direct contact with customers to promote the conclusion of product deals
  • Discounting of additional
    products
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6
Q

Improved profitability
(reduction in benefit
expenditure)

A
  • Incentives for health-
    conscious behavior and
    regular participation in
    preventive medical check-ups
  • Customer management via
    targeted information on
    service providers
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7
Q

a brand

A

is understood as “a name,
term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers

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8
Q

The brand is the only sustainable
source of..

A

competitive advantage

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9
Q

BtoB brands

A
  1. stores
  2. brand assets
  3. Touchpoints
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10
Q

What is a brand?

A
  1. Name & Visual identity
  2. Reputation & Trust
  3. Values & Purpose
  4. Consumer Experience
  5. Brand Equity
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11
Q

Brands are mental images in the heads of the stakeholder groups that take on…

A

an identification and differentiation function and shape choice behavior

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12
Q

Can there be a product without a brand?

A

Yes, a product can exist without a brand, but in modern markets, it is rare
example : Generic Products (flour), Raw Materials & Commodities (wheat, oil)

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13
Q

Brand equity refers to..

A

the difference that customers
would pay for a branded product vs. a non-branded
product

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14
Q

Benefits of brand equity

A
  • Be perceived differently and produce different interpretations of product performance
  • Enjoy greater loyalty and be less vulnerable to competitive marketing actions
  • Command larger margins and have more inelastic responses to price increases
  • Receive greater trade cooperation and support
  • Increase marketing communication
    effectiveness
  • Yield licensing opportunities
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15
Q

Brands are intangible assets

A

–> they can show up on the balance sheet

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16
Q

Financial Brand Equity

A

The monetary value a brand adds to a company, often reflected in financial metrics such as market
share, price premium, revenue, and firm valuation

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17
Q

Financial Brand Equity: measurement

A

Typically assessed using financial
models, brand valuation methodologies (e.g., Interbrand, BrandZ), and accounting measures like goodwill

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18
Q

Behavioral Brand Equity

A

The consumer-based perception of a brand, including attitudes, loyalty, awareness, and associations that drive consumer behavior

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19
Q

Behavioral Brand Equity: Measurement

A

Often assessed through surveys,
brand tracking studies, and consumer engagement metrics

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20
Q

How much is a brand worth today, based on its future financial contributions?

Study These Flashcards
A

–> use the discounted cash flow (DCF)

21
Q

Discounted Cash Flow (DCF) method: definition

Study These Flashcards
A

to calculate the financial value of a brand

22
Q

Discounted Cash Flow (DCF): calcul

Study These Flashcards
A

Brand value : - initial investement + somme Expected Cash flow t - Expected Cash Outflows t / 1 + Discount Rate t

23
Q

t

Study These Flashcards
A

The year of the cash flow forecast, ranging form 1 to n, where n is the last year of the forecast

24
Q

Expected Cashflow t

Study These Flashcards
A

Estimated cash flow (revenue) for the year t

25
Expected Cash Outflows t
Estimated expenses for the year t
26
Discount Rate
The chosen discount rate, expressed as a decimal (e.g., 0.005 for 5%)
27
Brand identity
- Self-perception of the internal target group
28
Brand image
- External image of the external target group
29
When brand image changes brand identity
1. Consumer driven Repositioning 2. Crisis and Scandal 3. Cultural or Market Evolution 4. Unintended Brand Associations
30
Brand asset use what?
- colors - Logo and Symbols
31
Brand architecture
1. Umbrella Brand strategy 2. Sub-branding strategy 3. Endorsement strategy 4. Product branding --> increasing independence --> Decreasing synergy
32
Umbrella brand strategy
- One name – one visual system - Features/benefits of product or service are less important than brand promise - Consumers trust the brand
33
Sub-branding strategy
- Subbrands are brands connected to a master brand that augment or modify the associations of the master brand - The link between sub-brands and the master brand is closer than between endorsers and endorsed brands - Subbrands use certain elements of the parent brand
34
Endorsement branding strategy
- The brands are independent. However, they are endorsed by another brand, usually by the corporate brand - Although these sub-brands are obviously distinctly different, they each retain an association with the endorser parent brand through visual reference (i.e., the parent brand mark) - This architecture strategy leverages the brand equity, reputation, and credibility of the parent brand while enjoying independent positioning, visual identity, personality and messaging - Three different forms: strong endorsement, token endorsement, linked name
35
Product branding strategy
Strategy 1 : Individual Product Branding Strategy 2: Family Branding Strategy 3: Private Label Branding (Store Brands) Strategy 4: Co-Branding Strategy 5: Ingredient Branding
36
Competing goals of brand architecture design
1. Dominance of the umbrella brand (“branded house“) 2. Dominance of the product brand (“house of brands“)
37
Why do some brands launch new offerings as own brands and others don‘t?
--> launch new offereing as own brands 1. Strong Brand Equity & Trust 2. Lower Marketing Costs 3. Faster Market Entry 4. Consistent Brand Identity --> launch new offering as separate brands 1. Different Target Market 2. Risk Management (If the new product fails, it won’t damage the reputation of the existing brand) 3. Premium vs. Budget Positioning 4. Flexibility in Marketing & Strategy
38
Brand building metric
1. Brand awareness 2. Brand image 3. Customer loyalty 4. Share of Voice 5. Brand Equity
39
Brand awareness
Measures the extent to which the target audience recognizes and recalls the brand. This can be assessed through surveys, recall studies, and social media analytics
40
Brand image
Evaluates how the target audience perceives the brand in terms of values, attributes, and associations. It often involves qualitative research, surveys, and sentiment analysis
41
Customer loyalty
Assesses the level of repeat business, customer satisfaction, and advocacy. Metrics may include customer retention rates, Net Promoter Score (NPS), and customer lifetime value
42
Share of Voice
Analyzes the brand's visibility and presence in the market compared to competitors, providing insights into its prominence within the industry
43
Brand Equity
Measures the perceived value and strength of a brand in the marketplace, taking into account factors like brand loyalty, perceived quality, and associations
44
Performance marketing metrics
- Click-Through- Rate (CTR) - Conversion rate - Return on ad spent (ROAS) - Cost per Click (CPC) - Cost per Acquisition (CPA)
45
Click-Through- Rate (CTR)
Measures the percentage of users who clicked on an ad, indicating the ad's effectiveness in generating interest
46
Conversion rate
Reflects the percentage of users who completed a desired action, such as making a purchase or filling out a form, showcasing the success of the campaign in driving conversions.
47
Return on ad spent (ROAS)
Compares the revenue generated from a campaign to the cost of the ads, helping assess the profitability of the marketing investment
48
Cost per Click (CPC)
Represents the average cost incurred for each click on an ad, providing insights into the efficiency of the advertising budget
49
Cost per Acquisition (CPA)
Measures the cost of acquiring a customer through a specific marketing channel, indicating the effectiveness of customer acquisition efforts

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