Lecture 1 - Branding basics

Question 1

What is a brand?

Answer 1

Branding signifies ownership and specific qualities and attributes eg cows

It is a mark of ownership and association that signifies differentiation in kind - a name, term, sign, symbol or design or a combination of them intended to identify the goods and services of one seller or group of sellers to differentiate them from those of competitors.

Question 2

Name an example of differentiation of the same car?

Answer 2

Cadillac vs Ford.
Cadillac - sign of masculinity, arrogance, patriarchal, dominant, success, representative of American values, patriotism.

Ford - Socialist vies, race and gender, focus on collective, same as American ideals just less self centred.

Question 3

What is relationship value?

Answer 3

Trust brand to function, build relation, treat brands as people with personalities.
eg: IBM have trust

Question 4

What is reputation value?

Answer 4

Mitigates risk, used it before, it is safe.

Question 5

What is experiential value?

Answer 5

Consumer centric, experience the meaning of the brand and world
eg: Jack Daniels

Question 6

What is symbolic value?

Answer 6

Providing identity and image of ourselves provides a blueprint for how we should live our lives, represent something.