3 - Brand Management

Question 1

trademark

Answer 1

any sign that distinguishes goods/services from competitors

requisites:

• distinctiveness
• novelty
• legality (registered)

Question 2

brand

Answer 2

an asset defined by consumer’s:

1. tangible association: brand visual language and signs (logo, colours, name)
2. emotional associations: values and benefits as perceived by consumers

Question 3

brand management in fashion is about…

Answer 3

brand identity definition

brand equity improvement

customer + competitive intelligence

collection structure management

business performance evaluation

line development/licensing

Question 4

brand identity drivers

Answer 4

heritage
stylistic identity
retail identity
communication identity

Question 5

reasons to extend lines/brands

Answer 5

increasing competition

similarity of brands’ offers attributes

reaction to declining markets

decreasing brand loyalty

costs + risks associated in launching a new brand

community’s demand for short term results

Question 6

two types of extensions

Answer 6

line extension - target different market segments

brand extension - different product categories

Question 7

main reasons for brand extension

Answer 7

complete product range

‘go retail’ - cross selling + trading up

enrich brand equity

Question 8

main benefits of brand extension

Answer 8

strengthen brand image
increases efficiency of communication costs
opens up for new customers
reduce financial risks
covers wider market
gives brand new vitality

Question 9

brand community

Answer 9

formed on the basis of attachment to a product/brand

• group that shares a system of values, standards and representations
• focuses on connections b/w consumers (bonds of membership)

Question 10

reasons to build a brand community

Answer 10

members can become the best promoters

exclusive communities help influencers build relationships

helps brands collect important data
- insights can be used in CRM

deepens customer relationships

Question 11

nation branding

Answer 11

image + reputation of a nation

• based on history, culture, values…
• coutry-of-origin is important for the company’s image

Question 12

emotional associations of a brand

Answer 12

functional - when i use it i obtain…

experiential - when i use it i feel…

meaning - when i brand this i am…