6: Marketing Strategy Toolkit: Branding

Question 1

Physical positioning

Perceptual positioning

Answer 1

Assessing product offering based on a set of physical characteristics

Includes product presentation, past experience and opinions of others

value proposition

Question 2

Deciding on positioning

Answer 2

Based on gap in the market

Based on strengths and capabilities: what do I have to deliver to the market?

Question 3

Positioning statement

Answer 3

Overview consisting of brand name, category(product/industry), main segment, key benefit.

Nutrigrain is a breakfast cereal for YA males that are looking for sustained energy

Question 4

Global branding

Answer 4

Can be consumed differently all around the world. E.g. red bull: stay awake, illegal, partying.

Reasons: economies of scale, decrease marketing costs, power and scope, consistency in brand images, ability to leverage good ideas, uniformity of marketing practices

Question 5

Reasons to local brand

Answer 5

Differences in: 
Consumer wants and needs
Response to marketing mix elements
Brand and product development and competitive environment 
Legal environment
Marketing institutions
Admin procedures

Question 6

Private local branding

Answer 6

Your product and another companies label. Advantages: improved quality of private label products, development of premium private label product, shift in retailer power, expansion to new product categories, economic downturn, internationalisation of retail chains

Question 7

Brand extension

Answer 7

Using established brand name/trademark on new products, so to increase sales.

Can reduce risk perception, decrease costs, increase efficiency of promotion, avoid cost of new names, etc.

Question 8

Strategic market plans

Answer 8

Offensive: invest to grow, improve position, new market entry. Earlier stages of life cycle.

Defensive: protect position, optimise/monetise position, harvest/divest. Later stages.

Question 9

Product life cycle: intro

Answer 9

Pioneer or follower? Pioneers have first mover advantage (100% market share, no competition, high price/margins, educating the market, potential barrier to entry)
Risks: poor market response, expensive, legislative

Question 10

Advantages to brand strategy

Answer 10

Financial advantages - Highest sales, high margins, guarantee of future income

Strategic advantages – position in relation to competition/trade

Relevance of the labour market

Management advantages – extension/endorsement (amazon kindle), global branding

Question 11

Customer based brand equity

Answer 11

For a brand to have value:

Differential affect

Customer brand knowledge

Customer response to brand marketing

Question 12

Brand creation

Answer 12

Brand elements (name, logo, slogan, characters)

Secondary associations (other brands we associate ourselves with)

Standard marketing communications