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Year 1 - Introduction to Marketing > week 11 > Flashcards

week 11 Flashcards

(90 cards)

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1
Q

positioniing statemtn

A

brief desctiption of prodcut or sefice and expantino how it fulfills particular need of target maekeet

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2
Q

what is goal of position statemtn

A

align markeitng efforts w a commpanys brand and value propostiion

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3
Q

what is purpose of positionig statemtn

A

convey brands value propstion to its ideal customers

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4
Q

psiiton statement v missinos stateme

A

MS - purpose bs serves in mkt , anchor that guides eery uisiness function

MS - answers why awhils pisitonig answers what

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5
Q

value propoisiton v positiongi statemnt

A

vlaue propositon -describes what sets product or serviec apart from competitors

gives overview of beefits product or service offer

more narrow and competiong orientated

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6
Q

wats order of mission statemtn positon and value

A

mission

position

value

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7
Q

what shoud psoitingi statement include

A

who you serve - description of target market

what value you offer - target marekt needs

how you position your offer - how your bs will meet needs

why you’re in business - what diifferentiates p/s from competition

what makes you different from the competition - why consuemr in tm should believe brands claims

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8
Q

core elemtns of stragtegic marke positiong

A

tm /audience

market category

customer pains

brand promise

brand identity and values

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9
Q

what is a perceptual map

A

diagram mapping out what the customers thnk about your products and services

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10
Q

what is a psitoniig map

A

diagram compating the actua traits of a company andf its offerings

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11
Q

where should we avodi

A

areas you know what cosnuemr wants but competitor has got beter at this

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12
Q

what is a brand

A

distinctive feature liek a nam , term , design or symbol that idenitfies goods or services

anything you can legally protect , assocaited w company and adds to percetoin of company

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13
Q

what is amrekting becoming

A

managmen process of adding , maintaing and enhancing symbolic meaning

tur

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14
Q

what 3 things does a brand sreaggy have to have

A

brand name and logo

brand sponsorships

brand extensions

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15
Q

brand name should indicate 1

A

benefits and cahracterstics

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16
Q

brand name should be easy to 2

A

pronounce

recognise

remember

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17
Q

brand should be 3

A

distinctive

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18
Q

brand name should be 4

A

extendable

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19
Q

brand name should be easy to 5

A

transalte into toerh lanuages and be culturaly appropriate

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20
Q

brand name should be capable of what protections

A

registration and legal protections

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21
Q

how can we check if a brand name is culturally appropriate

A

check w

local
mkt
consumers
agencires

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22
Q

how have brand names evolved 3 steos

A

from

quirky , memborable e.g. yahoo

to

trade mark proof made up names e..g astrazeneca and accenture

to

simple names w real meaning

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23
Q

what is bran dsponsorhsip

A

way we own the brand

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24
Q

in the traditional vew what are the 3/4 types of brand sponsorship

A

manufacturer/national brand

store/private brand

licensing

co branding

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25
what is manufacturer/national brand sponsorship
cadbury have own facturiers and producing own chocolate so sell under own branding
26
what is store/private brand
store owned e.g tesco mily bar
27
what is licensicin brand ownership
e..g paying to be able to put something on a product e,g,g stranger things on a mug
28
what is cobranding and what is it not equal
lcnesicng brands contribute equally to ifnal product -e.g. upside down whopper by burger king and stranger things
29
what is digital manufacturee/ national branf
nbc producing they're own shows
30
what is digital store/private brand
having netflix orgiinals - just digitla version of store/private brand
31
what is ewhat is licensing digital version
nbc prodiugin own shows and licensing it to other platforms e.g. office on netgflix
32
what is brand extension
extending an existing brand name to new product categories
33
expland brand extensions i.e. taking your name thats recognisable
name recognisdasbel so create new product w simlar bransin so peopel are more liekly to biu it
34
when will there be a faillure w brand extension
when you go for a product unrealted to what brand naem stands for e.g. colgate toothpaste trying to step into colgate lasagne failure - as there is not much link
35
whatare bands assessed on
brand equity
36
what is brand equity formula
brand awareness + brand image
37
brand value and brand equity are not the
same
38
what is brand value
finacial term - what we put on the financial shet
39
How do we remeber brand value
value - numbers
40
what is brand equity
how brand if percieved
41
you cant have an opinion of brand if you dont know it x
exists
42
brand awareness - depth
how easilt customers can recall or recognize brand
43
brand awareness - breadth
the range of purchases and consumption situations where the brand comes to mind
44
give example of brand w good breadth when we say fast food
mcdonalds
45
when we say breadth how would we think about mcdonalds
sit in order online going w family going when drink
46
brand image
consumer interpreations of you company and its producs and services set of mental representations both cognitive and affectrive , that a person or group of perople hold towards a brand
47
brand image is a what type of assessment too
emotional
48
trust is a concept so we are talking about
perceptions
49
most trusted not the same as
most valued
50
brand equity aka
the differntial effect brand name has on cusomrer repsonse to product or its marketing
51
brand equity can be what or what
positive or negative
52
when get rand equity when we have
brand awareness
53
excplain the case where we haev negative bran dequity and hihg bran dvalue
bp negative brand equity brand value v positive and hgh
54
functio of brands w in companies - brands aare a source o what for commpany
value
55
functio of brands w in companies whhy do analysts prefer companies w strong brands
they less risky
56
functio of brands w in companies - brands provide potetnialf for future x and long term x
future provits long term cashflows
57
functio of brands w in companies - what do brands create between rival products
differential advantages between rival products
58
functio of brands w in companies why can they charge premiu pricing
branc consciosu consuerms less price sesntives
59
functio of brands w in companies brands helps secure what
shelf space - also in terms of distribution
60
functio of brands w in companies how are brands a source of otalty
retentyion cheape rthna acquisition
61
functio of brands w in companies - what do brand allow for
brand/line extensiosn - brand stretching
62
expand on - functio of brands w in companies as a source of value - like how is it a source of value
recongisbale brand and psoitive bran deuqiyt - put on baalnce sheet , this is ipmportant for company growth, mergers and acquisitions
63
what are teh 4 steps to building a brand
brand identity brand meaning brand relationships brand repsonses
64
what isbrand identity to do w - qhat s the uestipn
who are you
65
what si brand ideentity similar to
missino statemt what do you wanna do and what is the big thing you are addressing
66
what is the question for brand meanig
what are you
67
brand menaing is mroe ,, expan
more practical , what you actually doing does brand explaina nd reflect your value peopeosiiton
68
what is brand relationship
what kind of association an how much of a connection woudl customers liek to have w you assocaiteion and connections customer make w brand
69
what is brand repsonses
what does customer feel or thignk about you feeligns customer have towards your brand
70
brand meaning is made up of what 5 thigns
primary charactersitics and supplpemetary featurees product reliability , durability and serviceabilitity service effectveness , efficient and empathy style and design price
71
brand identity is split into what and shoudl be relfective of what
values mission reflective of bigger goal
72
how do we build a brand right side
we have brand awareness the instil a perception of quality then do a more complicated brand positioning
73
how to build a brand left side
risk reduction differentiation relevance esteem emotinal brand
74
why do brannds become weak
fall out of favour casue of social eprceptions failure to innovate
75
sowhat we know about brand and brand image is what for who
risk reduction for consumers if dont know anything about phones and had to make decision purely on data - this si cognitive heavy
76
what is relevance
whether brands relative to you or not as this is reduced cgnitive load i,e, if dont care about cyber securtiy - so only looka t thing such as qual of camera allows us to immeiatley sif tout brands
77
expain differntiaion in - how to build a brand
when brand got strong image we can tell whihc is better and which we prefer
78
what is esteem
gernal perception of a brrand strong brands always have hgih esteem in a consumers mind
79
what is emotional bond
cusotmer develops emotional bond w brand usually dont knwo how they got to this poitn - from i like it cause of practical outcomes to i just like the brand thats in my mind
80
what factor on teh left side of teh how to build a brand weak brand to strong brand is the jey and why
emotionalbond as how we build the stronges custoemr loyalty and associatino - where we go from weak bran dto strong brand everyone knows
81
functional v symbolic brand s
functinoal - fast moving consumer goods symbolic - hgih dashion , like it casue o symbolism brand represents and you beloing to a certain type of consumer
82
and emotional bran d is
about content and what makes you fell good
83
whaat are the axis for functional v symbolic brand
high involvement - low invovlement cognitive - emotional
84
what is utlity brands
high involvement cogntive
85
what is functional brands
low involvemetn cognitive
86
what is symbolic brand
high involvment emotionl
87
what is emotinal brands
emotional low involvement
88
what shoud we do w utlity brajds
practical advertise lots and more factual adv on soecifc ffeature snad hihg utlity - amek this on cheat sheet
89
a symbolic brand is about
status perception consumer lifestyle
90
bruh right the importance bit on hte cheat sheet
week 11 lst slie

Year 1 - Introduction to Marketing (15 decks)

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