Chapter 9 Flashcards
What is a brand?
A name, symbol, icon, design, or combination that identifies the maker or marketer of a product
What are some of the advantages that branding gives marketers?
- Brand name becomes basis on which a whole story can be built about a product’s special qualities
- Brand name & trademark provide legal protection for unique product features that otherwise might be copied by competitors
- Branding helps marketers segment markets
What is a trademark?
Can be names, symbols, characters, and shapes (i.e. Coca Cola bottle)
What is the key to communicating a brand meaning?
Get consumers to associate your brand with one word (ex: Volvo owns the word safety)
What is a logo?
Designs that represent a brand that may or may not incorporate their name (ex: Nike Swoosh)
What is brand personality?
Sum total of all attributes of a brand, and the emotions it inspires in the minds of consumers
What is brand equity?
Dollar amount attributed to the value of a brand, based on all the intangible qualities that create that value
What are the 4 consumer perception dimensions?
- Differentiation
- Relevance
- Esteem
- Knowledge
What is customer equity?
The value of customer relationships that the brand creates
What is a national brand?
A brand created and owned by the manufacturer of a product
What are private brands?
Brand names applied by a marketer to products manufactured for them under a contract
What is licensing?
Buying and selling of rights to use a brand name, logo, character, icon, or image
What is co-branding?
Occurs when two established brand names of different companies are used on the same product (two brands must be complimentary)
What are the 3 options a company has when it comes to developing brands?
- Can create line extensions or brand extensions
- Pursue multi brand strategy
- Create entirely new brands
What are line extensions?
Occur when a company extends existing brand names to new forms, colours, sizes, ingredients, or flavours of an existing product category (ex: Honey Nut Cheerios are extension of Cheerios product line)
What are the risks involved with line extensions?
- Overextended brand name might lose specific meaning
2. Sales of extension may come at the expense of other items in line
What are brand extensions?
Extend a current brand name to new or modified products in a new category
What is multi branding?
A brand development strategy in which the same manufacturer produces many different brands in the same product category
What is a major drawback of multi branding ?
Each brand might obtain only a small market share
What is one of the most important marketing management roles?
Brand manager
What is brand communications?
Focuses on communicating brand positioning, or image, rather than on product features
What are touch points?
Advertising, marketing, communications, personal experience with the brand, word of mouth, social media, company and brand websites, store displays, and anything else that brings consumers into contact with the brand
What are the 4 dimensions of a brand experience?
- Sensory
- Affective
- Behavioural
- Intellectual
What are brand icons?
Objects with distinct shapes, colours, or patterns that are associated with the brand
