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Marketing > Branding L5 > Flashcards

Branding L5 Flashcards

1
Q

What are the key questions and issues regarding branding?

A
  • How important are brands?
  • History of brands
  • Managerial significance
  • What makes branding strong?
  • How do brands fit together?
  • Social and cultural significance
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2
Q

Where do brands originate from?

A

The Norwegian work Brandr = to burn, water/printer marks, 1920s mass production, railways, newspaper industry

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3
Q

What is significant about the 2018 Interbrand Best Global Brand Rankings?

A

Car companies continue to fall down the global rank and tech companies now dominate the top 10.

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4
Q

Are brands important today?

A
  • Brands can be products, services, people or places
  • Branding permeates all aspects of society
  • Must be added value
  • Signifies relationship
  • Provide an emotional relationship
  • Influence taste perception
  • Important for backlash
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5
Q

What makes a strong brand?

A
  • Quality product
  • Being 1st in the market
  • Unique positioning
  • Strong communication
  • Respect for stakeholders
  • Time and consistency
  • Authenticity
  • Respect for the environment
  • Relationship with consumers
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6
Q

What is the paradox between brands having a functional benefit and a symbolic meaning?

A

Brands are symbols and marketing is becoming the process of adding, maintaining and enhancing symbolic meaning and of turning products into brands as the ultimate source of competitive advantage

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7
Q

How does Brakus et al (2009) define a brand?

A

A label, designating ownership by a firm, which we experience, evaluate, have feeling towards and build associations with to perceive value

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8
Q

What is the brand equation?

A

Brand = product/service + attributes + values + experience

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9
Q

What is changing about branding?

A

Era of customisation, consumers can get exactly what they want and when they want

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10
Q

What does the strategic development of a brand. involve?

A

Having an idea, forming a tone of voice that evokes brand values and identifying the brand role to put out the brand belief

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11
Q

What is a brand image?

A

A set of mental representations, both cognitive and affective, that a person or group of persons hold toward a brand

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12
Q

What is the difference between brand image and brand identity?

A

The sender holds the brand identity and a signal is transmitted e.g product/communication, other sources might influence this as well as competition and noise and then the receiver gets the brand image

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13
Q

What is the definition of brand identity?

A
  • Represents the true self of the brand
  • Based on the brand’s vision, aim and nature
  • Included in a document i.e brand charter which defines what must stay and what is free to change
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14
Q

What is Kapferer’s (1986) brand identity prism?

A

Picture of sender at the top, picture of receiver at the bottom, externalisation on one side and internalisation on the other.

Physique, Personality

Relationship, Culture

Reflection, Self Image

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15
Q

How do functional and symbolic brands sit in terms of cognitive/emotional and high/low involvement?

A

Symbolic brands have high involvement and are more emotional than cognitive.

Functional brands have low involvement and are more cognitive than emotional

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16
Q

What is Keller’s Brand Equity Model?

A

A pyramid with resonance at the top representing relationships, judgements and feelings representing response, performance and imagery representing meaning, salience representing identity

17
Q

What caused the rise of brand?

A
  • 1980s recession

- Phillip Morris buys Kraft, Nestle buys Rowntree’s (1988)

18
Q

What is the function of brands within companies?

A
  • Source of value
  • Less risky if brand is strong: potential for future profits, comp adv, premium pricing, loyalty
  • New Product Develop allows for brand/line extensions
  • Saves searching time
  • Brand symbolism and social role of brands
19
Q

What are the characteristics that define a strong brand?

A
  • Emotion level
  • Esteem
  • Relevance
  • Differentiation (all communicated through positioning)
  • Risk reduction (awareness/quality)
20
Q

What are the classic models of consumer behaviour?

A

Evaluation of alternatives: look to reduce cognitive effort and use decision heuristics

Purchase: extent of planning, choice of outlet

Outcome of purchase: expectancy disconfirmation model (Szymanski and Henard, 2001), how much we learn from a purchase outcome will depend on our motivation and cognitive bias

21
Q

How do consumer’s view brands?

A

Stella (inspiring, distinctive, relevant, credible)

Good

The Rest

22
Q

What is the cultural impact of brands?

A
  • They are cultural shortcuts
  • Replaced traditional artefacts
  • They fit and adapt to lifestyles
  • Erosion of boundaries between the arts and commercialism
  • Brand saturated nature of popular culture
  • Social meaning
23
Q

What is brand attitude and how is it calculated?

A

Increasingly recognised as important element. Expectancy-value model of attitude:

Attitude to object = sum of all things they believe about it x how important each thing is to them

A = ∑ab

24
Q

Who controls brands?

A

Difficult as customers have a degree of control e.g Chavs buying Burberry

25
Q

What are anti brand activists according to Holt (2003) and Thompson et al (2006)?

A
  • They raise consumer consciousness about excesses and exploitations of corporate capitalism
  • They create brand image that directly competes with corporate brand image
  • Critical light shed on marketing practices
26
Q

How has branding changed to become what it is today?

A
  • Now an individualistic culture
  • Consumer democracy focuses on self
  • Blurring of public/private sector
  • Must be relevant, differentiated and engaging
27
Q

What is brand positioning?

A

Who you arena what you stand for

28
Q

What are brand extensions?

A
  • Use of established brand names to enter new product categories or classes (Keller and Aaker, 1995)
  • Two types of brand extensions: vertical (same category)/horizontal (different category)
29
Q

What are vertical brand extensions (Sullivan, 1990)?

A
  • Where a product is introduced into the same category

- Normally at a different price/quality point

30
Q

What are horizontal brand extensions (Sullivan, 1990)?

A

Where an existing brand introduces a new product in a similar or completely new category

31
Q

What is the brand extension matrix?

A

Line extension (existing brand name, existing product)

Brand extension (existing brand name, new product)

Multibrands (new brand name, existing product)

New brands (new brand name, new product)

Marketing (11 decks)

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