Chapter 14: Branding

Question 1

What are Direct to Consumer brands (DTC)?

Answer 1

DTC brands sell directly to consumers without involving retailers, primarily using digital and social media for branding. Once they scale, they may adopt traditional branding methods like TV ads and retail presence.

Question 2

What is the definition of a Brand according to David Ogilvy?

Answer 2

David Ogilvy, known as the “Father of Advertising” defined a Brand as “the intangible sum of a product’s attributes”

Question 3

How does the dictionary define Brand?

Answer 3

The dictionary defines Brand as “a person’s perception of a product, service, experience, or organization”

Question 4

According to the textbook, What is a Brand?

Answer 4

A Brand is a name, term, symbol, design, or combination of these that identifies and differentiates a firm’s products.

Question 5

What are Brand Marks (aka Logos)?

Answer 5

Brand Marks are elements of a brand, not expressed in words, that a consumer recognizes.

Question 6

What is an Important Note about Brands?

Answer 6

Brands are everything a product means to you

Question 7

What is Brand Loyalty?

Answer 7

Brand Loyalty is a consumer’s allegiance to a brand, shown by repeated purchases.

Question 8

What is Brand Recognition?

Answer 8

Brand Recognition is the degree to which customers can identify a brand.

Question 9

What is Brand Image?

Answer 9

Brand Image is the unique set of associations made with a brand.

Question 10

What is the first key to a successful brand?

Answer 10

Deliver a product that provides value

Question 11

What is the second key to a successful brand?

Answer 11

Create a consistent brand image

Question 12

What is the third key to a successful brand?

Answer 12

Create consistent brand messaging

Question 13

What is the fourth key to a successful brand?

Answer 13

Capture feedback

Question 14

What is Brand Equity?

Answer 14

Value a firm gets from consumers’ positive perception of products.

Question 15

What are the benefits of Brand Equity?

Answer 15

1) Improves success vs. competitors
2) Expand into new products
3) Consumers have positive perceptions
4) Consumer Trust

Question 16

What are the two methods of measuring Brand Equity?

Answer 16

1) Qualitative
2) Quantitative

Question 17

What Qualitative methods are used to measure Brand Equity?

Answer 17

1) Free Association
2) Projective

Question 18

What does Free Association do?

Answer 18

involves asking consumers what comes to mind when they think about the brand, and whether those associations are consistent with the firm’s MKT-mix strategies

Ex: “what comes to mind when you hear Beats?”

Question 19

What do Projective Techniques do?

Answer 19

tools used to uncover the true opinions and feelings of consumers when they are unwilling or otherwise unable to express themselves; can involve asking a consumer to compare a brand to a person, animal, car, or country

Ex: “If Microsoft was a car, what kind of car would it be?”

Question 20

What Quantitative methods are used to measure Brand Equity?

Answer 20

1) Brand Recognition
2) Brand Recall

Question 21

What does Brand Recognition do?

Answer 21

helps marketers understand:
1) which brands stand out in a consumer’s mind/memory
2) the strength of a consumer’s association with the brand

Question 22

What does Brand Recall measure?

Answer 22

Ability to identify brand under a variety of circumstances

Ex: “When you think of great pizza, what brands come to mind?”

Question 23

What are Brand Strategies?

Answer 23

aim to maximize equity without diluting profits or damaging the brand; they align with the overall marketing strategy

Question 24

What is Brand Extension?

Answer 24

the broadening use of a current brand to include new products in a different product category.

Ex: A beverage brand launching a snack line

Question 25

What is **Brand Revitalization**?

Answer 25

a strategy to recapture brand equity and identify & establish new sources of brand equity, such as rebuilding trust and investment in the brand

Question 26

What is **Co-branding**?

Answer 26

a strategy in which two or more companies issue a single product to capitalize on the equity of each company’s brand

Question 27

What are **Private-Label Brands**?

Answer 27

are products developed by a retailer & sold only by that specific retailer; also referred to as *store brands*

Question 28

What is **Packaging**?

Answer 28

the design & production of a container for a product; it communicates the quality of the product

Question 29

How does packaging promote brand image?

Answer 29

**Packaging** provides marketers with an opportunity to promote the image they want others to associate with the brand.

Question 30

How can Packaging **reinforce brand image**?

Answer 30

Marketers can utilize **Packaging** to reinforce their brand image with consumers For instance, the demand for environmentally friendly packaging has changed the marketing landscape for U.S. consumer goods

Question 31

Why do consumers *engage* with a **Brand**?

Answer 31

- seeking discounts - entertainment - looking for new products - posts that teach something - information research - engaging with customer service

Question 32

What are the **Social Media Branding Goals**?

Answer 32

Social media can support the goal of building a successful brand by: 1) allowing firms to build deeper relationships with consumers 2) generating positive word-of-mouth

Question 33

Why is it important to **Monitor Social Media Presence**?

Answer 33

It helps marketers recognize potential threats to brand equity quickly and develop solutions if needed

Question 34

How does **Monitoring Social Media** help marketers?

Answer 34

Marketers who monitor their brands can facilitate ongoing dialogue with customers, strengthening brand loyalty over time.

Question 35

What is the benefit of **Integrating Communication on Social Media**?

Answer 35

Firms that monitor their social profiles and integrate various communication methods can successfully leverage social media to build a successful brand.

Question 36

What are the **key stakeholders** in *Nonprofit Branding*?

Answer 36

The key stakeholders include: - donors - staff - volunteers - beneficiaries - partners

Question 37

What are the **characteristics** of an *effective Nonprofit Brand*?

Answer 37

An **effective Nonprofit Brand** should be: - unique - pleasing to the eye and ear - easy to remember - reflective of the organization's work

Question 38

Why is a **strong Brand Image** important for a *Nonprofit Organization*?

Answer 38

A *strong Brand Image* helps align supporters with the organization’s mission and deepens their commitment as donors, volunteers, and advocates.

Question 39

How are **Nonprofit Organizations** *different* than for-profit organizations?

Answer 39

**Nonprofit Organizations** have: - complex missions that are hard to achieve - difficult to measure directly - typically require a number of partners

Question 40

What does **high Brand Equity** do for *Nonprofit Organizations*?

Answer 40

A *Nonprofit Organization* with **high Brand Equity** can use the value stakeholders associate with the organization to raise the funds and support its needs to accomplish its mission