Exam 3 - Chapter 14 Flashcards
Manufacturers Brands
initiated by producers to ensure that producers are identified with their products at the point of purchase ex: Coke, Doritos, Harley
Brand Recognition
the degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if their preferred brand is unavailable
Packaging Criticisms (4)
1) functional issues 2) costs 3) safety issues 4) deceptive packaging
6 Reasons of Value of Branding to Buyers
1) identifies specific product 2) reduces purchase time 3) provides a form of self-expression 4) helps evaluate quality 5) reduces perceived risk i purchase 6) offers potential psychological reward
Universal Product Code (UPC)
bar code a series of electronically readable lines identifying a product and containing inventory and pricing info
Zero Moment of Truth
people are more thoughtful about products because it’s easier to find information ex: RedScan
Brand Preference
the degree of brand loyalty in which a customer prefers one brand over competitive offerings
6 Reasons of Value of Branding to Sellers
1) identifies the firm’s products 2) makes repeat purchasing easier 3) assists in new product introduction 4) assists in promotional efforts 5) fosters brand loyalty 6) increases profitability
Individual Branding
a branding strategy in which each product is given a different name ex: Marlboro, Benson, and Hedges all made by the same co.
6 Ways of Packaging Strategically
1) altering the package 2) secondary-use packaging 3) category-consistent packaging 4) innovative packaging 5) multiple packaging 6) handling improved packaging
Branding a Service
1) service brand and company name are usually the same 2) uses symbol and name for distinction 3) one name many service products
Brand Insistence
the degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute
Family Packaging
using similar packaging for all of a firm’s products or packaging that has one common design element ex: Campbell’s Soup
Brand Equity
the marketing and financial value associated with a brand’s strength in a market
Trade Name
the full legal name of an organization ex: The Coca Cola Company
Family Branding
branding strategy all firm’s products with the same name or part of a name ex: Lay’s Potato Chips and Lay’s Tortilla Chips
Trademark
“registered” or TM a legal designation of exclusive use of brand
Selecting a Brand Name
1) easy to say/spell/recall 2) indicate major benefits/uses 3) distinctive 4) avoid negative connotations
4 Functions of Packaging
1) protects/preserves product 2) offers convenience to customer (size/shape) 3) promotes/advertises the product 4) evokes emotional response
Generic Brands
brands indicating only the product category (rare) ex: Cola
Brand Loyalty
a customer’s favorable attitude toward a specific brand
Brand Name
the part of the brand that can be spoken, including letters, words, and numbers
Co-Branding
using two or more brands on one product ex: Betty Crocker brownie mix w/ Hershey chocolate
Labeling
providing identifying, promotional, or other info on a package label
Brand Mark
the part of a brand that is not made up of words such as a symbol or design
Protecting a Brand (names)
most protectable to least protectable: 1) fanciful (Exxon) 2) arbitrary (Dr. Pepper) 3) suggestive (Spray ‘n Wash) 4) descriptive (Minute Rice) 5) generic/descriptive/ geographic/functional (aluminum foil)
