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MRKT 438 > Brand Architecture Strategies > Flashcards

Brand Architecture Strategies Flashcards

1
Q

what is brand architecture

A

relationship between brands within an organization and how they interact with one another

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2
Q

3 Steps in developing a brand architecture

A

Step 1: Defining brand potential

Step 2: Identifying brand extension opportunities

Step 3: Branding new products and services

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3
Q

3 important characteristics of defining brand potential

A
  • Brand vision (long - term view, what possibilities are) (aspirational but attainable)
  • Brand boundaries
    –>Broad brand (transferable POD)
  • Brand positioning
    –> what should you be offering
    –> think about market coverage
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4
Q

key ingredients of defining brand potential

A
  • Competitive frame of reference
  • POD
  • POP
  • Brand mantra (emotional, functional, descriptive modifiers)
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5
Q

brand equity implications of each extension needs to be understood in terms of:
(a part of identifying brand extension opportunities)

A
  • Points-of-parity
  • Points-of-difference
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6
Q

New products and services must be branded in a way to maximize the brand’s overall _________

A

clarity

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7
Q

branded house strategy

A

Umbrella corporate or family brand for all its products

–> strong master brand name along with product designation
- capitalizing on brand loyalty
- consumers care more about central brand promise than actual product/service features
- ex. FedEx

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8
Q

house of brand strategy

A

Collection of individual brands all with different names

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9
Q

sub-brands

A

Brand extension in which the new product carries both the parent brand name and a new name

  • tie back with value, message, but have own values as well
  • look at individual brands to see about own impressions of sub brand (ie Apple Watch might not have same quality impressions as iPhone)
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10
Q

brand portfolios

A

Includes all brands sold by a company in a product category

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11
Q

how is a brand portfolio judged?

A

by its ability to maximize brand equity

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12
Q

what criteria should the brands in a porfolio satsify

A
  • Any one brand in a portfolio should not harm or decrease the equity of the others
  • Ideally, each brand maximized equity in combination with all others
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13
Q

Reasons for introducing multiple brands in a category (4)

A
  • Increase shelf presence and retailer dependence in the store
  • Attract consumers seeking variety who may otherwise switch to another brand
  • Increase internal competition within the firm
  • Yield economies of scale in advertising, sales, merchandising, and physical distribution
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14
Q

what are some possible special roles of brand in the brand portfolio

A
  • To attract a particular market segment not currently being covered by other brands of the firm
  • To serve as a flanker and protect flagship brands
  • To serve as a cash cow and be milked for profits
  • To serve as a low-end entry-level product to attract new customers to the brand franchise
  • To serve as a high-end prestige product to add prestige and credibility to the entire brand portfolio
  • To increase shelf presence and retailer dependence in the store
  • To attract consumers seeking variety who may otherwise have switched to another brand
  • To increase internal competition within the firm
  • To yield economies of scale in advertising, sales, merchandising, and physical distribution
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15
Q

What are the 4 kinds of brands in a brand portfolio?

A
  • Flankers
  • Cash Cows
  • Low-End, Entry-Level
  • High-End, Prestige Brands
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16
Q

flankers

A
  • newly launched brand in an area/category where you already have a brand
  • protective or “fighter” brands
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17
Q

why are flankers introduced

A
  • introduced to try to augment market share
  • can protect companies’ existing brands’ price premiums
  • To create stronger points-of- parity with competitors’ brands
18
Q

characteristics of fighter brands

A
  • Fighter brands must not be so attractive that they take sales away from higher-priced comparison brands
  • If connected to other brands in the portfolio, must not be designed so cheaply that they reflect poorly on other brands
19
Q

cash cows

A
  • brands that have reached maturity in product life cycle but are no longer continuing to make money
20
Q

characteristics of cash cows

A
  • Despite dwindling sales, some brands are retained
    —> Due to their sustainability with virtually no marketing support
    —> cheaper to keep these brands than introducing complete new brands
    -Milked by capitalizing on their reservoir of existing brand equity
21
Q

low-end, entry level brands

A

Role of a relatively low-priced brand is to attract customers to the brand franchise

22
Q

high-end, prestige brands

A
  • Role of a relatively high-priced brand
  • To add prestige and credibility to the entire portfolio

-halo effect

23
Q

levels of a brand hierarchy from top to bottom (5)

A
  • Corporate or Company Brand Level
  • Family Brand Level
  • Individual Brand Level
  • Modifier Level
  • Product Descriptor
24
Q

corporate or company brand level

A
  • Highest level of hierarchy
  • Corporate image:
  • **Consumer associations to the company or corporation making the product or providing the service
  • ** Relevant when the corporate or company brand plays a prominent role in the branding strategy

not always present in branding

25
Q

family brand level

A

Used in more than one product category
* But is not necessarily the name of the
company or corporation
* Also called a range brand or umbrella brand

  • If the corporate brand is applied to a range of products, then it functions as a family brand too
  • If products linked to a family brand are not carefully considered, the associations to the family brand may become weaker
26
Q

individual brand level

A
  • Restricted to essentially one product category
    –> * Although multiple product types may differ
  • Customization of the brand and all its supporting marketing activity
  • If a brand runs into difficulty or fails, risk to other brands and the company is minimal
  • Disadvantages of difficulty, complexity, and expense of developing separate marketing programs

**each brand has dominant position in its own category

27
Q

Modifier level

A

Must further distinguish brands according to different types of items or models
*Modifier
* Designate a specific item or model type or a particular version or configuration of the product

  • Function of modifiers is to show how one brand variation relates to others in the same brand family
  • Help make products more understandable and relevant to consumers
28
Q

product descriptor

A
  • Helps consumers understand what the product is and does
    –> Helps define relevant competition in consumers’ minds
  • In the case of a truly new product, introducing it with a familiar product name may facilitate basic familiarity and comprehension
29
Q

what are the 5 challenges in setting up a brand hierarchy? ( ie what do you have to decide)

A
  • Specific products to be introduced for any one brand
  • Number of levels of the hierarchy to use
  • Desired brand awareness and image at each level
  • Combinations of brand elements from different levels of the hierarchy
  • Best way to link any one brand element to multiple products
30
Q

Guidelines for Brand Hierarchy Decisions (ie which principles to consider): 1. Decide on which products are to be introduced

A
  • Principle of growth: Invest in market penetration or expansion versus product development according to R O I opportunities.
  • Principle of survival: Brand extensions must achieve brand equity in their categories.
  • Principle of synergy: Brand extensions should enhance the equity of the parent brand.
31
Q

Guidelines for Brand Hierarchy Decisions (ie which principles to consider): 2. Decide on the number of levels.

A
  • Principle of simplicity: Employ as few levels as possible.
  • Principle of clarity: Logic and relationship of all brand elements employed must be obvious and transparent.
32
Q

Guidelines for Brand Hierarchy Decisions (ie which principles to consider): 3. Decide on the levels of awareness and types of associations to be created at each level.

A
  • Principle of relevance: Create abstract associations that are relevant across as many individual items as possible.
  • Principle of differentiation: Differentiate individual items and brands.
33
Q

Guidelines for Brand Hierarchy Decisions (ie which principles to consider): 4. Decide on how to link brands from different levels for a product.

A
  • Principle of prominence: The relative prominence of brand elements affects perceptions of product distance and the type of image created for new products.

–> visibility

34
Q

Guidelines for Brand Hierarchy Decisions (ie which principles to consider): 5. Decide on how to link a brand across products.

A
  • Principle of commonality: The more common elements products share, the stronger the linkages.
35
Q

corporate image dimensions

A
  • Common Product Attributes, Benefits, or Attitudes
  • People and Relationships
  • Values and Programs
  • Corporate Credibility (trustworthiness, likeability)
36
Q

components of managing the corporate brand

A
  • Corporate Social Responsibility
  • Corporate Image Campaigns
  • Corporate Name Changes
37
Q

brand product-matix and brand hierarchy help businesses to do what:

A
  • Evaluate and create structures in business’ portfolios
  • Gain a clearer overview of their brands and future brand extension
  • Assess the brand’s key features and differentiations with the competitors, and given room for improvement for further product development
  • Prevent brand-clash, in which businesses are offering the similar features or PoDs of a product or service of an already existing brand
38
Q

what is the main difference of different brand architectures

A

dominance and emphasis of parent brand

39
Q

what is a problem with the branded house strategy

A
  • dilution
  • whenever have problems with one are, more spillover, the whole branded house pays the price (this doesn’t really happen with sub-brands)
40
Q

what to think about when deciding positioning/category for brand extensions

A

want to minimize overlap while also maximizing market coverage

–> each brand should have its own target market and positioning

41
Q

to which kind of brand architecture is central brand promise very important

A

branded house

MRKT 438 (12 decks)

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