Branding Flashcards
Combination of a name and logo to allow consumers to identify the goods and services of one seller and differentiate from other sellers
Branding
Important in the longevity of the company (part of branding)
name
Brand name/mark, logo, and slogan. Most successful is a seamless combination of all elements. Ex. the Nike swoosh (represent speed), name, and “just do it”
Product of brand identity
6 elements of __ __.
Memorable: say to say/read/spell/remember
Meaningful: suggests key category, ingredient, type of customer, purpose
Likable: creates positive feelings about the brand using the color, size, mark, name, or font
Transferable: to new products (brand extensions), across geographic borders and market segments
Adaptable: Not easily dated or limited regional meaning
Protectable: ability to defend name, mark, color, or character (red soles of Christian liboutuni)
Brand Elements
Brand ___. 3 things: brand culture, brand equity, and brand value
How do brands function? (how do brand bring benefits to companies?
Brand function. 1/3. Brand ____ Shared, taken for granted brand stories and associations. It evolves as four authors who create stories involving the brand: The firm, Pop culture, influencers, and customers
Brand culture
Brand function. 1/3. Brand ____. The set of assets linked to a brand’s name that adds to or subtracts from the value of that product or service. Non name brand vs name brand , see how the customers react. Creating strong pos brand ____ is the goal of brand management.
Brand equity
Components of brand ___. A) brand awareness B) perceived quality C) brand associations D) Brand loyalty
Components of brand equity
Brand architecture. ____. One brand across many types of products. “A branded house.”
Standardize
Brand architecture. ____. One company owning several different brands (of same/different products) with their own identity. House of brands
Diversify
Standardize: Brand ___. Different products under the same name. Create a new product because it fits with the specific skills of an existing brand. Leveraging their already existing brand identity to promote other products. CAT making machines, and boots that are strong and tough just like the machines. Law& Order, SVU
Brand extension
Brand architecture. ____. Good for smaller companies, efficient in terms of marketing mix/consistent image. Cons: limits a company’s ability to target a wide audience, product expansion, can tarnish reputation with one bad product
Standardize
Brand architecture. ____. Pros: create distinct brand lines, target brand consumer audiences, ability to dominate a product category (Procter and Gamble, owns Joy, Dawn, and Ivory). Confuse customers trying to boycott. Cons: risk cannibalizing the products own individual market shares, requires greater resources to manage a diverse product portfolio with multiple product images and accurate messaging. (need to hire specific people and events for each product)
Diversitfy
Six control our ___. GE, NewsCorp, Disney, Viacom, Time Warner, CBS. No representation, these people dictate the programming/messaging. it is powerful/scary how only a few people control this
Media
Brand architecture solution. Many brands empty ___/___ ___ strategies. Disney expanded its G-rated movie focus to an R rated audience through buying Touchstone and Miramax, Google bought youtube but kept YT’s brand though all of google’s products are very google branded
Hybrid/house blend
__-_____. Frito-Lay sells chips flavored with KC Bbq sauce, Breyers sells ice cream that incorporates Resee’s Penut butter cups
co-branding
___ brands. Similar to co-branding. “intel inside” or additive like NutraSweet within other branded products
Ingredient brands
the “__ _____” brand. Generic products, no official name, plain labels, no advertisitng to support the product. Pharmaceutical industry: have the “store brand” next to the branded version, with similar packaging
The “no brand” brand
___ brands/ ___ label products. Wholesalers/retailers sell their own brand on the shelf, less expensive than national brands. Manufacturers supply the same product to retailers and branded companies, so the “wegmans brand” version of an item could be from the same place
Private brands/private label
__ brands’ competitive edge. Today, consumers believe that the ___ brand version is the same level of quality, with better value. This is a win win for shoppers and retailers
Private brands
Case study: ___ ___. Only the consumer brand, small store, prestige, “healthy, luxurious, and good quality”, no choice/competition (only their brand is sold in their store) – no mass market brand, no coupons/scanner card/weekly sales, instead has a “daily low price” strategy. “funky shop around the corner” enthusiastic workers in hawaiian shirts.
Trader Joe’s
Case study: ___ ___. Outsourcing competetors – Stacey’s Pita chips creats for them but two dollars cheaper, they don’t have a choice bc they wouldn’t be making money off of __ anyways, __ can change distributors at any time, __ keeps this secret and it is in __ packaging.
Trader Joes
Case study: Pros/Cons. P: no advertising for the house brand, eliminators of in-store competitors (loyalty to private brand), outsourcing to major brands = an assured popularity of a product. Cons: transparency issues (organic stores, origin of food), potential brand contamination if outsource has recall
Trader Joes
Case Study: creating a pos image for their private brand that is high qulaity, organic but inexpenseive
Targeted a high income, niche group
Offering a limited-selection, high turnover model, traded selection for value
Outsources private brand from competitors
to maintain brand loyalty to house brand
elminiate competion
keeps consumers int he dar about the source of its house brand = can change manufacturers and reduce costs
TJ
