Branding

Question 1

What are the stages of a product’s life cycle?

Answer 1

1. Introduction
2. Growth
3. Maturity
4. Decline

Question 2

What does branding seek out to do?

Answer 2

-move a product away from being a commodity to extent that consumer will want to buy even if costs more than min possible price
-eg Cloudy Bay and savvy b
-consumer chooses CB as specifically want to buy what CB represents

Question 3

Substance

Answer 3

-consistently deliver same quality and style
-eg champagne houses and NV house style wine

Question 4

Consumer Trust

Answer 4

-buy their fave wine as trust
-important in success of sm own brandCo

Question 5

Consumer Engagement

Answer 5

-c’s will feel brands marketing aimed directly at them
-‘closeness’ of relationship = smallest change= risk of alienating customers

Question 6

Brand Story

Answer 6

-emtional attachment

Question 7

-Price Premium

Answer 7

-higher prices= c’s think as guarantee of quality

Question 8

Longevity

Answer 8

-leading brands in existence for long time
-champagne houses

Question 9

Strong brand name

Answer 9

-must be easy to remember and easy to pronounce in other countries
-make sure not offensive, eg Mist in German (shit)
-reference to geographical features eg Blossom Hill Cloudy BAy= gives sense of place
-name of company founder= heritage and longevity (Taylor’s Port, Krug)

Question 10

Brand Positioning

Answer 10

1. Value
2. Standard
3. Prem
4. Super Prem

-positioning usually set at launch, intended to hit particular price point
-if competition increases= may have to lower price