1.3.2 branding and production Flashcards
branding definition
the process of creating a distinctive and lasting identity in the minds of consumers
brand definition
a characteristic, name or symbol that differentiates it from competitors
types of branding
>individual brand >own brand >brand family >manufacturer/corporate branding >generic brand
individual brands
where each product is promoted as a standalone brand e.g. marmite
own brands
a product that is made for a store and has the stores name on it e.g. sainsburys own brand
brand family
a range of products with the same brand name made by a particular company, AKA an umbrella brand e.g. Cadburys’
manufacturer/corporate branding
promoting the brand name of a corporate entity, as opposed to the specific products or service it sells e.g. nestle
generic brand
the name of the product rather than a particular brand e.g. foil, carrots
benefits of strong branding
> increase added value
charge premium prices-brand loyalty
reduce price elasticity of demand
combat the discounters-week brands get squeezed out
+&- of corporate brand
+ everything the company does is attributed to its brand
- everything the company does is attributed to its brand
+&- of individual brand
+ each product stands alone so failures do not affect the entire company or other products
- each product will require its own marketing strategy and budget, with no synergy possible between products. Successes will not be directly attributed to the company’s brand
+&- of family brand
+ each product contributes to the shared value offered to the customer.
- specific benefits of one product may become less obvious
+&- of own brand
+ control over product and cost
- yours might not be the only product being made
+&- of generic brand
+ lower price, less promotional costs
- no USP
rebranding definition
a new name, term, symbol, design or combination is created for an established brand
ways to build a brand
> USP- differentiate and stand out from the crowd
Advertising- introduce a new brand, remind customers, spread the word
Social media-place adverts in strategic places on sites such as Facebook/instagram
factors affecting how a business builds a brand
> type of product or service
the market it operates in and its place in the market
target market
brand image
promotion definition
all the marketing activity that communicates information about a product to the customer
4 objectives
2 categories
> reassure
inform
persuade
remind
> short term
long term
promotional mix definition
the different types of promotion used in a marketing campaign
above the line definition
advertising in the media
below the line definition
any promotion that doesn’t involve advertising
+&- of television promotion (above the line)
+ mass audience
+ demonstrates use of product
- expensive
- some viewers avoid TV ads
+&- of newspaper and magazine promotion (above the line)
+ tangible (you can tough it)
+ no time limit
- black and white
- no movement/sound- not very eye-catching
+&- of cinema promotion (above the line)
+ longer time than TV
+ sound and movement
- no mass audience
- can only been seen once
+&- of radio promotion (above the line)
+ constant
+ cheap production
- no pictures/videos
- may be ignored
+&- of outdoor-poster,billboards,vehicles promotion (above the line)
+ mass audience
+ large
- cant put much information on it because people drive by quickly
+&- of digital promotion (above the line)
+ can be sent to phones
+ accessible
- people can find it annoying
- technical problems
+&- of sales promotion e.g. free gifts, coupons, BOGOF offers (below the line)
+ high success rate
+ improves sales in the short term
- only short term
- customers not willing to pay full price
+&- of public relations promotion e.g. press releases, press conferences, sponsorship, donation (below the line)
+ long term
+ cheap way to promote
- sponsorships can be expensive
+&- of direct marketing promotion e.g. junk mail, spam (below the line)
+ cheap to set up and send
+ easy to target specific customers
- customers find it annoying
- may damage the brand
+&- of personal selling promotion e.g. door to door, exhibition (below the line)
+ cheap
+ you can demonstrate the product
- depends on how good the personal selling team are
- door to door doesn’t have good reputation
factors affecting a business’s choice of promotion
>cost >type of market >type of product >stage in the product life cycle >what competitors are doing > legal factors
