branding Flashcards
1
Q
benefits of strong branding
A
added value
ability to charge premium price
reduced PEOD
2
Q
ways to build a strong brand
A
USP
advertising (convey sales message to target audience)
3
Q
manufactured brands
A
created by manufactures use advertising and promotion to build brand loyalty can charge higher price consumers stay loyal repeat purchases
4
Q
own label brands
A
created by retailers good value for money high profits for retailer ties consumer to retailer gives retailer bargaining power with major manufactures to supply brands at discounted rates
5
Q
brand
A
a name, logo or symbol that differentiates the business from competitors
6
Q
added value
A
the increased worth of a product
7
Q
ways to add value
A
brand increases worth quality convenience USP speed of service design
8
Q
emotional branding
A
plays on emotions
provokes emotional response to build emotional connection with consumer
long lasting attachment = brand loyalty
9
Q
viral marketing
A
a video goes viral to draw attention to company
free marketing for company
brand awareness through word of mouth
business doesn’t have to pay for distribution of advert
