branding Flashcards
(47 cards)
What is a brand from a product-centric perspective?
A brand is more than a product; it has dimensions that differentiate it from other products designed to satisfy the same need. These differences can be rational (functional performance) or irrational (symbolic, emotional, experiential).
What is a brand from a consumer-centric perspective?
A brand exists in the minds of consumers. It is their perception, experiences, and associations with the product/company.
What is the difference between brands and products?
A product is anything that can be offered to a market to satisfy a want or need, while a brand is a name, term, sign, symbol, design, or combination of these intended to identify the goods/services of one seller and differentiate them from competitors.
Why do brands matter to consumers?
- Identifies source
- Reduces risk
- Simplifies decision-making
- Symbolizes status
- Self-expression
Why do brands matter to companies?
- Identifies goods
- Means of legal protection
- Signifies quality
- Creates barrier to entry
- Source of competitive advantage
- Source of financial returns
What are brand elements?
- Names
- URLs
- Logos
- Symbols
- Characters
- Spokespeople
- Slogans
- Jingles
- Packaging
- Signage
What is brand image?
Consumers’ perceptions of a brand as reflected by the brand associations held in consumer memory. These associations can be strong, favorable, and unique.
What is brand equity?
The commercial value that comes from consumer perception of the brand name of a particular product or service rather than from the product or service itself.
What is the Customer-Based Brand Equity (CBBE) Model?
The differential effect that brand knowledge has on consumer response to the marketing of that brand.
What are the components of brand awareness?
- Brand Recognition
- Brand Recall
What is brand positioning?
The act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s mind.
What are Points of Parity (PoPs)?
Attributes or benefits that consumers view as essential for a legitimate and credible offering within a certain product or service category.
What are Points of Difference (PoDs)?
Attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand.
What is a brand mantra?
A short, three-to-five word phrase that captures the irrefutable essence or spirit of the brand positioning.
What is the purpose of the Customer-Based Brand Equity (CBBE) Pyramid?
A framework to build a strong brand, showing the sequential steps to create brand equity.
What are the four steps to building brand equity according to the CBBE Pyramid?
- Identity (Who are you?)
- Meaning (What are you?)
- Response (What about you?)
- Relationships (What about you and me?)
What is brand salience?
How often and easily the brand is thought of, ensuring customers think of the brand in the right situations.
What is brand performance?
How well the product/service meets customers’ functional needs.
What is brand imagery?
How customers think about the brand abstractly, focusing on extrinsic properties that meet psychological or social needs.
What are brand judgements?
Customers’ personal opinions and evaluations about the brand.
What are brand feelings?
Customers’ emotional responses and reactions to the brand.
What is brand resonance?
The ultimate goal of brand building; refers to the nature of the relationship customers have with the brand.
What are the key dimensions of brand resonance?
- Behavioral Loyalty
- Attitudinal Attachment
- Sense of Community
- Active Engagement
What is integrated marketing communications (IMC)?
The process of coordinating all marketing communication messages and tools to present a consistent and unified brand image across all touchpoints.
