Branding_Flashcards
(28 cards)
What is a brand?
A brand is a customer experience represented by a collection of images, ideas, and associations. It includes symbols like names, logos, slogans, and designs. (AMA, 2016)
Who defines a brand as ‘a set of expectations, memories, stories, and relationships’?
Seth Godin
Define Brand Equity.
The added value a brand provides to products or services, influencing how customers think, feel, and act. (Kotler & Keller, 2016)
What are the three types of Brand Equity?
- Customer-Based Brand Equity (CBBE) 2. Financial Brand Equity 3. Employer Brand Equity
What is Customer-Based Brand Equity (CBBE)?
The differential effect brand knowledge has on consumer response to the marketing of that brand. (Keller, 1993)
Name the stages of Keller’s CBBE Pyramid.
Salience, Performance/Imagery, Judgments/Feelings, Resonance
What is Financial Brand Equity?
The differential effect of a brand on the financial value of a business (e.g., Interbrand valuation).
What is Employer Brand Equity (EBE)?
The differential effect of the brand on current or potential employees, influencing attraction, loyalty, and performance.
What are the key factors in building strong brand equity?
Consistency, relevance, emotional connection, differentiation, and authenticity.
Who shapes brand meaning?
Firms, Influencers, Popular Culture, and Users. (Holt, 2003)
Name a company that exemplifies positive brand equity.
Apple or Amazon
Give an example of a brand that lost equity due to a crisis.
Volkswagen (Emissions Scandal), United Airlines (Guitar Incident)
What is brand salience?
The degree to which a brand is noticed or thought about in buying situations; top-of-mind awareness.
What is brand resonance?
The level of deep, psychological bond customers have with a brand, leading to loyalty and advocacy.
What is brand positioning?
The act of designing a brand’s offer and image so it occupies a distinct place in the consumer’s mind.
Define brand consistency.
Ensuring all brand communications, actions, and experiences are aligned over time.
What is brand relevance?
The extent to which a brand meets the evolving needs and desires of its target market.
What is brand loyalty?
A customer’s commitment to repurchase or re-engage with a brand, despite situational influences or competitors’ marketing.
What is the Interbrand Brand Valuation model?
A financial brand equity model that values brands based on financial performance, brand strength, and the role of brand in purchase decisions.
What are the benefits of strong brand equity?
Customer loyalty, reduced marketing costs, trade leverage, premium pricing, resilience to crises.
What is the process of value co-creation in brand communities?
Social networking, impression management, community engagement, brand use, and marketplace immersion. (Schau et al., 2009)
What is the impact of culture on branding?
Culture shapes how brand messages are encoded and decoded; marketers must adapt to cultural values (Hofstede’s dimensions).
What is standardisation in global advertising?
Using the same message, creative idea, and media globally.
What is adaptation in global advertising?
Modifying advertising content and execution to fit local cultures and markets.
