Term
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Definition
Brand name
Logo
Symbol
Character
Packaging
Slogan |
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Term
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Definition
Consumer perceptions of and preferences for a brand
Brand associations held in memory
Performance-related
Imagery-related attributes |
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Term
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Definition
| Consumers ability to recal or recognize the brand under different conditions |
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Term
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Definition
| High level of awareness + familiarity, strong, favorable, unique associations |
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Term
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Definition
1. Greater loyalty
2. Less vulnerability to competitive marketing actions
3. Less vulnerability to marketing crises
4. Larger margins
5. more price inelasticity to price increases
6. More elastic to price decreases
7. Greater trade cooperation and support
8. Increased marketing communication effectiveness
9. Possible licensing opportunities
10. Additional brand extension opportunities |
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Term
| 7 Deadly sins of Brand Management |
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Definition
1.Failure to fully understand the meaning of the brand
2.Failure to live up to the brand promise
3.Failure to adequately support the brand
4.Failure to be patient with the brand
5.Failure to adequately control the brand
6.Failure to properly balance consistency and change with the brand
7.Failure to understand the complexity of brnad equity measurement and management |
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Term
| High-tech product branding guidelines |
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Definition
1. Establish brand awareness and image
o Not enough to build a great product
2. Credibility associations
o Since products and specs change fast, consumers have to trust brand
3. Leverage secondary associations of quality
o Endorsements or reviews to reduce risk for consumers
4.Acoid overbranding
o Too long names, "Indigo IMPACT Solid" -> "Solid"
5.Selectively introduce new products as new brands
oTo indicate departure from past specs |
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Term
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Definition
1. Choice of brand elements
2. Marketing activities, marketing program
3. Leverage of secondary associations that link the brand to other entities like a company, geographic region, other brand, person, or event.
4. Complementarity and Consistency |
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Term
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Definition
Measure sources and outcomes
Brand equity measurement system:
1. Brand audits
2. Brand tracking studies
3. Brand equity management system |
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Term
| managing Brand Equity components and criteria |
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Definition
1. Take broad, long-term perspective of brands
2. Brand hierarchies must define common and distinct brand elements among various products |
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Term
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Definition
Maximize brand equity for individual products with little regard to other brands of the firm
Ignores possible synergies between brands |
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Term
| Top down brand management |
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Definition
1. Takes advantage of synergies and advertises several brands together
2. Seperate marketing programs only where dictated by consumer or competitive environment |
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Term
| Criteria for choosing brand elements |
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Definition
1. Memorability
2. Meanignfulness
3. Likability
4. Transferability
5. Adaptability
6. Protectability |
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Term
| Changing slogans criteria to address |
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Definition
1. Recognize how slogan contributes to brand equity
2. Decide how much of this equity enhancement is still needed
3. Retain needed or desired equities while providing whatever new twists of meaning are necessary to contribute to equity in other ways |
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Term
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Definition
1. Focus on individual consumers (databases)
2. Consumer dialogue
3. Customize products and services
4. Consumers do not always want to repeat behavior |
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Term
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Definition
Connecting brand with unique experiences
Especially important nowadays and in the future |
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Term
| Tips for loyalty programs |
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Definition
1. Know your audience: target customers whose purchasing behavior can be changed by the program
2. Change is good: update the program to stay unique and attract more customers
3. Listen to your best customers:
4. Engage people: easy to sign up and use, immediate rewards; birthday greetings, special offers, etc. |
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Term
| Value based pricing, 8 steps |
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Definition
1. Determine value to customer
2. Customize prices to take advantage of different valuations by different customers
3. Price sensitivity
4. Optimal pricing structure
5. Avoid price wars, think about competitors reaction
6. Monitor prices realized at transaction level
7. Emotional response from customers
8. Customer profitability analysis |
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Term
| Channel design, direct and indirect |
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Definition
Selling through personal contact
Vs. Sell indirectly through third parties (agents, retailers, distributors, etc.) |
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Term
| Services provided by channel members, and Figure 7 |
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Definition
| Marketing research, communications, contact, matching, negotiations, physical distribution, financing, risk-taking, service |
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Term
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Definition
| All products sold under a particular brand |
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Term
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Definition
| Set of all brands and brand lines offered to buyers in a particular category |
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Term
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Definition
| Group of products within a category that are closely related |
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Term
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Definition
| All product lines and items a particular seller makes available to buyers |
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Term
| Breadth & Depth of Product Mix |
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Definition
In expanding into new categories/markets (breadth) consider:
• aggregate market factors (growth, size, noncyclical…)
• Category factors: porters 5 forces
• Environmental: technology, regulation etc.
Depth: the length of the product line |
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Term
| Fighter brands, Flanker brands |
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Definition
| Build Points of parity with competitors so flagship brands can maintain positioning |
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Term
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Definition
| Milk them, no marketing effort needed |
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Term
| Guidelines for brand hierarchy decisions |
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Definition
1. Decide on number of levels
2. Levels of awareness and types of associations to be created at each level
3. Which products are to be introduced
4. How to link brands from different levels for a product
5. How to link a brand across products |
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Term
| 3 Objectives for building customer based brand equity |
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Definition
1. Building awareness of the company and the nature of its business
2. Building company trustworthiness and credibility
3. Creating corporate image associations that can be leveraged by product-specific marketing |
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Term
| Benefits of corporate social marketing (CSM) |
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Definition
1. Building brand awareness
2. Enhancing brand image
3. Establishing brand credibility
4. Evoking brand feelings
5. Creating a sense of brand community
6. Eliciting brand engagement |
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Term
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Definition
1. Differences in consumer needs, wants, and usage patterns for products
2. Differences in consumer response to marketing mix elements
3. Differences in brand and product development and the competitive environment
4. Differences in the legal environment
5. Differences in marketing institutions
6. Differences in admin procedures |
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Term
| Advantages of Global Marketing Programs |
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Definition
1. Econs of scale
2. Lower marketing costs
3. Power and scope
4. Consistency in brand image
5. Ability to leverage good ideas quickly and efficiently
6. Uniformity of marketing practices |
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Term
| Standardization vs. Customization |
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Definition
| Need to balance because standardization lowers costs, but different geographies might have different preferences... |
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Term
| Ten Commandments of global branding table and discussion |
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Definition
1. Understand similarities and differences in the global branding landscape
2. Don't take shortcuts in brand building
3. Establish marketing infrastructure
4. Embrace integrated marketing communications
5. Cultivate brand partnerships
6. Balance standardization and customization
7. Balance global and local control
8. Establish operable guidelines
9. Implement a global brand equity measurement system
10. Leverage brand elements |
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