Chapter 3: Managing & Expanding brands Flashcards
(23 cards)
Hierarchy of brand levels
1) Corporate brand
2) Umbrella brand
3) Sub brand
4) Product brand
Brand architecture
combination of brand levels and brand names in an organisation
Branded house architecture
a strategy where more than one company’s products are sold under one name/branding umbrella
Endorsed brand architecture
a branding strategy in which different product or service brands are positioned individually from a parent company while maintaining an association, or endorsement, with the parent brand
Types of brand architecture
- branded house
- endorsed brand architecture
- sub-brand architecture
- house of brands
Sub-brand architecture
a branding strategy where a secondary brand within its own brand.
House of brands
a strategy where each brand has its own brand identity, often representing a separate demographic, need, or occasion.
Forms of co-branding
- product level
- communication level
- distribution level
Criteria which should be met for Product co-branding
1) Brands are owned by different companies or business units
2) Brands are used independently of eachother
3) Mutually beneficial (added value of alliance)
Advantages co-branding
- Joined R&D
- Brand image transfer
- Potential new target groups
- Reduce cost of product introduction and marketing investments
- New distribution channels
- Expand brand meaning
- Additional revenue
Disadvantages co-branding
- loss of control
- risk of brand equity dilution
- lack of brand focus & clarity
- strategy & profitability in the long run
- organizational distraction
Ways to develop brand (managing)
1) Maintain brand consistency
2) Protect sources of brand value/equity
3) Reinforce marketing programs to support your brand
4) Revitalise brands
5) Enlarge brand awareness & usage
6) Reposition your brand
7) New market entrances
How to maintain brand consistency
- repetition of key elements
- evolution, not revolution
- brands often use origin/heritage
How to protect sources of brand value/equity
core products used in marketing programs/communication/etc to strengthen the brand equity
How to reinforce marketing programs to support a product & performance related brand
need for PRODUCT INNOVATIONS
How to reinforce marketing programs to support a non-product related & more emotional brand
user image COMMUNICATION & EVENTS
How to revitalise brand
- Back to the basics: going back to the roots of a brand
- Re-invent: changing the meaning & positioning of the brand
How to enlarge brand awareness & usage
1) Increasing quantity & frequency of consumption (HOW MUCH & HOW OFTEN)
How to reposition your brand
- Product performance
- new usage moments
- new packaging
- broader target group
How to enter new markets
- based on socio-demographic criteria
- Identifying neglected & promising segments of market
Ways in which you can expand your brand
Product development:
- Line extensions
- Brand or category extensions
- Product acquisitions
Market development:
- New channels & outlets
- New geographies
How many POD’s should a company at least have nowadays?
3 POD’s
True or False: The more POD’s, the higher the order promise
True
