Lecture 6 : Branding Flashcards Preview

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Flashcards in Lecture 6 : Branding Deck (15):
1

branding definition

a nam, term, or design ot combination of these that identifies the pdtcs or services of one seller or group of sellers and differentiates them fro; those of competitors. includes name, logo, slogan...

2

consumer brand equity definition

the incremental value added by a brand on to a pdt. amount someone is willing to pay for a certain brand.

3

brand value measures

total financial value

4

positive brand equity create

more favourable reaction than generic brand

5

4 dimensions of brand equity

brand awareness (brand recall, brand recognition)
brand associations (brand positioning/personality)
perceived quality(see next one)
brand loyalty

6

perceived quality of brand equity (5)

reliability
assurance
tangibles
empathy
respons

7

types of loyaltiness

true loyalty
latent loyalty
spurious loyalty
no loyalty

8

benefits of brands for buyers

brand as decision making heuristic
psychological rewards via brand engagement on social media
brand as social signalling via conspicuous consumption (snob effect or Bandwagon effect)

9

Bandwagon effet

fitting in

10

benefits of brands for sellers

brand as differentiation between functionally equivalent products and services
brands as trademarks to provide legal protection
brands as a basis of entering new markets
branding help sellers segment the market

11

brand strategy decision

brand positioning
brand name
brand sponsorship
brand development

12

brand sponsorship options

manufacturer brand
licensing
co-branding
store brands

13

types of store brands

generics
copycat brands
house brands
exclusive designer brands
fascia brands (identifies all pdts sold as private brands)

14

differetial adv with target consumers in developing brands

brand domain
brand heritage
brand value
brand assets
brand personality
brand reflection

15

managing brands

brand extension
brand stretching
global branding
pdt based co branding
common based co-branding
parallel co-branding
ingredient co-branding