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Marketing Management > Branding > Flashcards

Branding Flashcards

1
Q

4 Brand Levers

A
  • Ad impact
  • Differentiation (uniqueness)
  • Quality (perceived)
  • Value (quality and price)
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2
Q

Mental availability

A

Probability of consumer noticing, recognising, and thinking of your brand in a buying situation (greater MA means brand is easier to access in consumer memory)

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3
Q

Physical availability

A

How much product you are supplying in different areas at different times - breadth and depth of distribution in time and space

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4
Q

Brand definition

A

Specific name, symbol or design (or combination of these) that is used to distinguish a particular seller’s product

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5
Q

Distinctive Assets (DAs)

A

Elements that unconsciously trigger the brand for category buyers (sensory cues):
- Logos, taglines, slogans, characters, ad style, shapes, fonts, music/jungles/sounds, colour…

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6
Q

Importance of DAs

A
  • Decision-making process (considering and filtering brands)
  • Build both mental and physical availability through easier branding cut-through
  • Make branding easier
  • Knowing your DAs helps you know which elements to keep and which to change
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7
Q

DAs to build mental availabiity

A
  • Attaching brand to relevant category entry points (Starbucks = coffee)
  • DAs should help us notice both the brand and the message
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8
Q

Benefits of DAs for mental availability

A
  • More variety in branding
  • Wider reach of brand to low literacy/other languages
  • Better execution of creative messages (advertisement)
  • Connect advertising done in various platforms
  • Connect campaigns
  • Connect brand out-of-store with in-store
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9
Q

DAs to build physical availability

A
  • Retail environments are very cluttered, DAs help stand out

- Helps brand be easy to buy

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10
Q

Do successful brand attract higher loyalty levels?

A

Do attract very slight loyalty levels

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11
Q

Do different brands appeal to different customers?

A

Appeal to similar customers because competitors are similar

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12
Q

Are brand-loyal customers more valuable?

A

No, brand loyal buyers are no attractive marketing targets. These consume only half as much as non-loyal.

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13
Q

Realities of brands and loyalty

A
  • Brands succeed because they’re similar
  • Similar brands attract similar levels of loyalty
  • Different brands appeal to same consumers
  • Brand-loyal buyers tend to be light buyers (of a category)
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14
Q

Why are brands valuable or important?

A
  • Great brands generate added value and higher profits (sell more, charge more, do both)
  • Brand guarantees to deliver promise every time (people like consistency, reliability)
  • Decision making: allows customers to cut through risks and complex choices
  • Offer avenues for further growth (facilitate adoption and awareness of brand/line extensions)
  • Virtuous circle of brand building (satisfy - profit (re-invest) - consistency - improve satisfaction)
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15
Q

Brand building blocks

A
  1. Essence
  2. Personality
  3. Values of users
  4. Emotional rewards
  5. Functional benefits
  6. Physical attributes
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16
Q

Why is niche an attractive strategy?

A
  • limited resources to invest
  • no competition from incumbents
  • company has special skills/competencies that fit one segment
17
Q

Line extensions

A

New products introduced into existing product category and under existing brand name (e.g. Diet Cola, Cherry Cola)

18
Q

Multi-brands

A

Brands in same product category, but with different brand identities

19
Q

Brand extensions (Umbrella branding)

A

Same brand name, successfully established in one market, to enter others (Soft drink brand producing a line of juices)

20
Q

Physical Attributes (Brand building blocks)

A

Rational product features

21
Q

Functional benefits (Brand building blocks)

A

Rational expectations as result of use

22
Q

Emotional rewards (Brand building blocks)

A

Emotional benefits expected from use

23
Q

Values of users (Brand building blocks)

A

What the users of the brand care about the most

24
Q

Personality (Brand building blocks)

A

Image of brand, expressed in human characteristics

25
Q

Essence (Brand building blocks)

A

Enduring soul of brand, single idea that fuses key emotional and functional roles of the brand (the only element of the brand that persists/doesn’t change)

26
Q

Strategic challenges of Branding

A
  • Build mental availability
  • Build physical availability
    End goal: Growing the customer base (people that are not aware of brand and thus screen out the brand during purchase decisions)
27
Q

Importance of brand consistency

A

Inconsistency leads to uncertainty, uncertainty hurts trust, lack of trust undermines brand power.

28
Q

Distinctive assets grid

A

Brand has a set of DAs…

Each DA ideally needs both fame and uniqueness (ensure that they score 100% in both axes)

Marketing Management (5 decks)

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