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MKT 300 test 2
test 2
18
Accounting
Undergraduate 4
03/23/2013

Additional Accounting Flashcards

 


 

Cards

Term
Brand
Definition
is an identifying name, term, design, symbol, or any other feature that identifies one marketer’s product as distinct from those of other marketers
Term
Branding-
Definition
helps buyers identify and evaluate products. It also benefits sellers by facilitating product introduction; repeat purchasing, and promotional efforts
Term
Brand Elements
Definition
brand names, slogans, websites, characters, logos, color scheme
Term
The Role of Brands
Definition
1. Identify the maker
2. Create barriers to entry
3. Serve as a competitive advantage
4. Signify quality
Term
Attributes of Brands
Definition
Positioning statements help project consistent message.
Stays relevant
Priced right
Understands consumers
Term
Brand Equity
Definition
Associated with value of ownership/value of brand name
Is the Marketing and financial value associated with a brand’s strength
Brand name awareness, brand loyalty, perceived brand quality, and brand associations
Term
Brand Equity Benefits to Consumers
Definition
- search cost reducer, signal of quality, risk reducer, symbolic device
Term
Brand Equity Benefits to Companies
Definition
source of competitive advantage, predictability and security of demand, barriers to entry, financial returns
Term
Intangible value
Definition
If market value > 1 , then we’ve created intangible value aka brand equity
Term
Brand Asset Valuator
Definition
measure of brand equity and takes into account 4 different variables. Differentiation, relevance, esteem, knowledge
Term
BRANDZ Model-
Definition
Presence, relevance, performance, advantage
Term
Brand Resonance Pyramids-
Definition
how do we connect and resonant between the product and the consumer. Identity, meaning, response, relationships
Term
Interbrand’s Brand Equity Formula
Definition
brand earnings and brand strength and trust
Term
Brand personality
Definition
specific personality type traits or characteristics ascribed by consumers to different brands. Ex: Mac commercials- young, cool, and hype. So human characteristics to non human things
Term
Branding strategies
Definition
Manufacturer’- products or brands that would be found in many stores. Ex: Pepsi
• Individual Brand- Tide but parent of P&G is Manufacturer
• Family Brand- use company name to promote their products Ex: GE
• Combination Brand- company name paired with individual brand name Ex Kellogg’s Rice Krispies
Term
Private- branding strategy
Definition
• Individual Brand- WalMart brand of dog food Ol’Roy
• Family Brand- products only found out their stores Safeway Select, GAP,
• Combination Brand- family brand plus indivdual names ASU Tempe, ASU Poly
Term
Functions of packaging
Definition
Effective packaging offers protection, economy, safety, and convenience.
Term
Labeling
Definition
Labeling is used for identification, promotional, and informational and legal purposes
Labeling can be persuasive or informational
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