Branding Flashcards
Brand Loyalty
Contributes to a firm’s long-term success and profitability
Brand Recognition
Consumers grow attached to certain logos
Brand Image
Signifies what the brand presently stands for others
Components of a Successful Brand
-Deliver a product that provides value
-Create a consistent brand image
-Create a consistent brand messaging
-Capture feedback
Brand Equity
Increases likelihood of consumers purchasing the firm’s brand over a competing brand
Four Dimensions of BranAsset Valuator
-Differentiation
-Relevance
-Esteem
-Knowledge
Measuring Brand Equity
-Qualitative Methods
-Quantitative Methods
Qualitative Methods for Brand Equity
-Free Association
-Projective Techniques
Quantitative Methods for Brand Equity
-Brand Recognition
-Brand recall
-CLV
Brand Strategies
-Brand Extension
-Brand Revitalization
-Cobranding
-Private Label Brands (Store brands).
Brand Extension
Profit recognition and acceptance a brand already has
Brand revitalization
Rebranding to rebuilt trust with customers
Cobranding
Leverage the equity of another firm’s brand to increase
Packaging
-Promoting brand image
-Reinforcing brand image
Customer Engagement through Social Media
-Post that showcase new products
-Posts that teach something
-Consumer seeking discounts
-Branding trough customer service
