Branding week 5

Question 1

Brand knowlegde =

Answer 1

The personal meaning about a brand, stored in the consumer memory, that is, the cognitive representation of the brand.

Question 2

All different kinds of information may become linked to a brand:

Answer 2

• Awareness
  o Category identification and needs satisfied by the brand
• Attributes
  o Descriptive features that characterize the brand name product either intrinsically (product performance) or extrinsically (brand personality/heritage)
• Benefits
  o Personal value and meaning that consumers attach to the brand’s product attributes (e.g. functional, symbolic or experiential consequences from the brand’s purchase or consumption)
• Images
  o Visual information, either concrete or abstract in nature
• Thoughts
  o Personal cognitive responses to an brand-related information
• Feelings
  o Personal affective responses to any brand-related information
• Attitudes
  o Summary judgment and overall evaluations to any brand-related information
• Experiences
  o Purchase and consumption behaviors and any other brand-related events.

Question 3

Brand-leveraging process =

Answer 3

The effects on consumers of linking/associating the brand to a different person, place, thing or brand as a means of building new or affecting exitsing brand knowledge

Question 4

3 important factors in predicting the extent of leveraging secondary knowledge that might result from linking a brand to another entity:

Answer 4

1. Knowledge of the entity
   a. What knowledge exists about the entity and has the potential to transfer to the brand?
2. Meaningfulness of the knowledge of the entity
   a. To what extent might this knowledge be deemed meaningful for a brand?
3. Transferability of the knowledge of the entitiy
   a. To what extent will this knowledge actually become linked to the brand or affect existing knowledge?
   b. Does any of this knowledge affect what consumers think about a brand when it becomes linked to or associated with this other entitiy?

Question 5

brand elements =

Answer 5

Trademarkable visual or verbal information that identifies and differentiates a product/service

Question 6

6 criteria for choosing brand elements (first 3 build brand equity, last 3 are more defensive and concern how to leverage/preserve brand equity):

Answer 6

Memorability:
- Recall/recognition
* Recall/recognition of brand element (at both purchase and consumption?)
Meaningfulness:
- product category
- attributes/benefits
* Is the brand element credible, persuasive, and how suggestive is it of its product category?
Likability:
- visual/verbal imagery
- aesthetic/sensory experience
* Is the brand element aesthetically appealing, fun and interesting?
Transferability:
- Regions/product categories
* Can brand elements also be used in new products in the same or different categories?
* Can it cross geographic and cultural boundaries?
Adaptability: is the brand element flexible and easy to update?
- flexibility
- over time
Ability to be protected: can the brand element legally be protected and shielded from competition to retain trademark rights and not become generic or being copied?
- legal
- competition

Question 7

3 main sets of brand equity drivers:

Answer 7

1. • The product and service and all accompanying marketing activities/programs such as pricing, distribution and communication strategies.
2. • The choices for the brand elements or identities (primary brand elements)
3. • Other associations marketers indirectly transfer to the brand by linking it to another person, place or thing

Question 8

Credibility (5):

Answer 8

• Attractiveness
• Trustworthiness
• Similarity
• Expertise
• Likability

Question 9

Greenwashing:

Answer 9

Misleading communications and practices that intentionally or not reduce false positive perceptions of an organization’s environmental performance.

Question 10

Commonality leveraging strategy:

Answer 10

The more consumers see similarity between the brand and entity, the more likely they will transfer their knowledge of the entity to the brand