Branding

Question 1

What is a brand?

Answer 1

A brand is a product or service that has a unique and immediately recognizable identity that distinguishes itself from others in its industry

Question 2

What is brand identity?

Answer 2

Features of a brand that makes it recognizable
eg: design element
statement
application

Question 3

What is brand management?

Answer 3

It is a function in markeitng which uses techniques to increase the perceived value of a brand over time

Question 4

What does a brand manager do?

Answer 4

Ensures innovation of the brand
Creates brand awareness

Question 5

What is brand equity?

Answer 5

The value a company gains from from its name recognition enabling popularity among consumers

Question 6

What is brand awareness?

Answer 6

It is the ability of the consumer to identify the brand under different conditions

Question 7

What are the two elements of brand awareness?

Answer 7

Brand recognition
Brand recall

Question 8

What is brand recognition?

Answer 8

Consumers ability to confirm the brand when a cue is given without exposure

Question 9

What is brand recall?

Answer 9

Consumers ability to retrieve the brand when given the product category, needs or some other probe

Question 10

What is the importance of brand awareness?

Answer 10

Helps to enhance brand image in the eyes of the consumer

Increases the likelihood that consumers will keep the product on top if their mind when thinking abt that particular product group

Increases the likelihood that they will make a purchase decision

Question 11

What is the brand awareness pyramid?

Answer 11

No Awareness
Recognition
Recall
Top of mind

Question 12

What is brand association?

Answer 12

It is all the thoughts, feelings, perceptions, images, experiences, beliefs, attitudes linked to the brand

Question 13

What are the two models of Brand Associations?

Answer 13

BrandDynamics Model
Brand Resonance Model

Question 14

What is the Brand Dynamics model?

Answer 14

It maintains 3 types of brand associations which are crucial for building customer pre-disposition
- meaningful
- different
- salient

Question 15

What are the 3 outcome measures of brand dynamics model?

Answer 15

Power: prediction of the brands volume share
Premium: brand’s ability to command a price premium
Potential: probability that a brand will grow value share

Question 16

Draw the diagram of the Brand Dynamics model

Question 17

What is the Brand resonance model?

Answer 17

It views brand building as ascending steps from bottom to top

Question 18

What are the advantages of Brand Resonance model?

Answer 18

Ensures that consumers identify the brand
Firmly establishes the brand meaning in consumer minds
Elicits proper consumer responses
Converts customer responses to brand loyalty

Question 19

Draw the Brand Resonance model?

Answer 19

Identity - Meaning - Response - Relationship

Question 20

What is the difference between brand awareness and saliency?

Answer 20

Brand awareness only represents how much your product is on a consumer’s mind when thinking about a general category.

Brand salience means that your market has specific reasons to prefer your brand over another when they actually hand over their hard earned money.

Question 21

What are secondary associations?

Answer 21

When brands are linked by:

The company itself
Country or geographical region
Channels of distribution
Other brands (co branding)
Characters
Spokespeople
Sporting or cultural events
Third party sources like awards/review

Question 22

What is brand perception?

Answer 22

How a consumer perceives a brand and what the brand signifies for them

Question 23

What is brand loyalty?

Answer 23

Once consumers have a favorable opinion they tend to develop strong loyalty towards it

Question 24

How can we measure brand perception and loyalty?

Answer 24

Sureys
Brand audits
Monitor online activities

Question 25

What are brand elements?

Answer 25

Devices which can be trademarked to identity and differentiate the brand

Question 26

What are the 6 criteria for choosing brand elements?

Answer 26

memorable
meaningful
likable
(brand building)

transferable
adaptable
protectable
(help leverage and preserve brand equity)