Branding Flashcards
It is the name, design, color, symbol quality, features, or a combination of these elements
Brand
A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers
Brand
Endorsing products and services with the power of a brand
Branding
A strategy designed by organizations to help people to quickly identify and experience their brand and give them a reason to choose their products over the competitors
Branding
It is a marketing practice that means launching a new product or even a product line under a famous brand name
Umbrella Brand Approach
Give advantages of the Umbrella Brand Approach
- The success of a popular product gives credibility to the new product
- It decreases advertising costs
- Gain loyal customers
- Significantly increase sales
Give disadvantages of Umbrella Brand Approach
- Clients expect Hugh quality products
- One mistake can ruin the business
3 benefits of house brand approach
Reach, safety net, and shield
it is how your customers “see” your prodct
product identity
home to numerous brands, each independent of one another, and each with its own audience, marketing, look and feel (P&G, Unilever)
House brand approach
house brand benefit: greater target audiences and broaden a brand’s demographic_____
Reach
house brand benefit: companies can take more risks with new offerings, knowing they have strong, tested brands to fall back on if necessary
Safety Net
house brand benefit: in the case of bad press, the individual brand can take the heat while keeping the company’s reputation secure
Shield
