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Juridik > Brands > Flashcards

Brands Flashcards

1
Q

Branding is:

A
  • Association
  • Anticipation
  • Differentiation
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2
Q

4 academic oriented definitions of what a brand is:

A

(Legal) “the brand as a set of signs certifying the origin of a product

(Business) “The brand as a source of competitive advantage”

(Psychological/social) “The brand as a representation of commonly held perceptions and beliefs”

(Finance/auditing) “The brand as a valuable financial asset”

These are different perspectives of what a brand is

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3
Q

Keller’s definiton of a brand

A

“A brand is a set of mental associations, held by the consumer, which add to the perceived value of a product or service” - Keller

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4
Q

Kapferer’s definition of a brand

A
  1. A brand is a name with the power to influence buyers
  2. A brand is a shared desirable and exclusive idea embodied in products, services, places and/or experiences.
    - Kapferer
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5
Q

Name three evaluation dimensions of a brand

A

Strength

Favourability

Uniqueness

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6
Q

Name some examples of association content (for evaluating a brand)

A

Level of quality

Attributes

Typical user

Usage situation

Benefits

Values

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7
Q

What is a brand touchpoint?

A

”Anything you might interact with that features some recognizable part of the brand’s identity.”

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8
Q

Why does brands matter?

A
  • Source of differentiation
  • Legal protection
  • Customer retention and loyalty
  • Source of competitive advantage
  • Leverageable resource (enables new business opportunities)
  • Sustainable resource (brands outlive product cycles)
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9
Q

Why does brands matter, from a consumer’s perspective?

A

Simplification

Risk reduction

Emotional trigger

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10
Q

What are the three valuation approaches for brands?

A

1 Cost approach

2 Market approach

3 Income approach (most commonly used)

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11
Q

What is a distinctive mark?

A

A distinctive mark is a semantic or graphical representation for distinguishing a brand.

A distinctive mark is also for claiming which functions, benefits and values will become experiences associated with it.

It is to distinguish the product from other similar products and create a position in the mind of the consumer.

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12
Q

What is a descriptive concept?

A

It is a noun or a descriptive phrase that is used in relation to a specific brand to categorise it and define what the brand is.

Descriptive term to categorize and define from a branding perspective what the product “is”. Important for new and innovative technology.

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13
Q

Examples of descriptive concepts?

A

A sports utility vehicle

A portable media player

A netbook

A hybrid (electric vehicle)

A platform for mobile devices.

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14
Q

What is the practical impact of descriptive concepts?

A
  1. They define business boundaries of trademarks.
  2. They protect against trademark degeneration
  3. They signal the intended utility or usage
  4. They define segments and competition
  5. Strengthen the customer perceived differentiation.

(1 is pure legal, 5 is pure business, and there is a fading scale between them)

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15
Q

What are brand values?

A

Value words capturing the essence of the brand’s current status and position, or aspiration.

Going against the brand’s or its customer’s values destroys the brand.

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16
Q

What is a brand position?

A

“Positioning is about a brand’s territorial rights: claiming, establishing and maintaining a product/ market space in the target market segment, and a mind space in the consciousness of the target audience.” - Dahlén 2010

“A brand’s positioning articulates who should be targeted for brand use, the goal that a target consumer will achieve by using the brand, and explains why it is superior to other means of accomplishing this goal.” - Kapferer, 2005

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17
Q

How do you position a brand?

A

Positioning rests on analysis and understanding of three main subjects:
company assessment
competitor assessment
customer assessment

A good tool is a positioning matrix

A positioning statement is a good tool for creating a clear vision:

  • Briefly describe the targeted consumers
  • Describe the category, frame of reference
  • Describe why the brand is superior to alternatives within the frame of reference
  • Describe the evidence that supports your claims of above
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18
Q

What is brand touchpoints?

A

”Anything you might interact with that features some recognizable part of the brand’s identity.”

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19
Q

What is brand awareness?

A

Brand awareness relates to the strength of the brand in memory, as reflected by consumers’ ability to recall or recognize the brand.

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20
Q

What is (brand) awareness depth?

A

The likelihood of and ease of recall and recognition of a brand.

Recalling the brand from a given cue.

Recognising it from a given cue.

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21
Q

What is (brand) awareness breadth?

A

The range of purchase and usage situations where the brand comes to mind.

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22
Q

What is a brand identity?

A
  • The brand owner’s intention of what the brand should be
  • Company-projected
  • Active, forward-looking

compare with brand image

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23
Q

What is a brand image?

A
  • Perceptions about a brand as reflected by the brand associations held in consumer memory
  • Consumer-negotiated
  • Passive, backwards-looking

Compare with brand identity

Very connected with brand ethics

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24
Q

What is Neumeier’s definition of a brand?

A

”A brand is a person’s gut feeling about a product, service, or company. It’s not what you say it is. It’s what THEY say it is.” - Neumeier

25
Q

What is a genericised trademark?

A

A ‘genericized trademark’ has moved from distinguishing a specific brand to become the generic description for, or synonymous with, a product or service.

26
Q

What is brand equity?

A

Two main perspectives:

  1. Financial brand equity: how much financial value the brand holds. The net DCF attributable to the brand.
  2. Consumer-based brand equity: the value added by the brand: how much premium price can you get. The differential effect that consumer’s brand knowledge has on their respones to the marketing of that brand.
27
Q

What are some easy attributes to segment customers by?

A

CULTURAL

  • culture
  • subculture
  • social class

SOCIAL

  • reference groups
  • roles and status

PERSONAL

  • age/life-cycle stage
  • occupation
  • economic circumstances
  • lifestyle/personality

PSYCHOLOGICAL

  • motivation
  • perception
  • beliefs/attitudes.
28
Q

What are the two axises of Kapferer’s identity prism?

A

Y: Sender / Recipient (sender high)

X: Externatilisation / Internalisation (in. –>)

29
Q

What is market segmentation?

A

Segmentation is the process of dividing a varied and differing group of potential buyers into smaller groups, within which broadly similar patterns of buyer needs exist.

Good segments are:
identification (it is distinguishable)
substantial (sales potential is large)
accessible (easy target)
stable (predictable)
30
Q

What is a brand promise?

A

The promise is the brand’s commitment to creating value
The promise defines three things
what it is
what it does or doesn’t do to create value
why this matters.

Violating the brand’s promises destroys the brand

Intended to be directed internally, and to be practically used. Important that it has clear meaning to the organization.

31
Q

What is Keller’s brand equity model?

A 
Customer based brand equity model (CBBE)
1 - who are you? 
2- what are you?
3- what are you about?
4- what about you and me?

CBBE is about shaping the customer’s perception of the brand, making them want to like it.

A good brand is: 
o Offensive:
• Memorability
• Meaningfulness
• Appeal

o Defensive
• Transferability
• Adaptability
• Protectability

32
Q

What are the components of technology innovations?

A

4 intersecting Venn circles:

Brand / concept

Customer Utilities and values

Technical function

Control

33
Q

What are the broad outlines of brand elements?

A

What brand elements construct the

customer experience?

What is the experience?

And how can you control that experience?

34
Q

What legal control can you have of a brand?

A

Trademark

Company name (firma)

Design right

Copyright

Domain name

Patents

Trade secret

Marketing law

Contractual agreements

35
Q

What are the pros with having the same brand in the same product category?

A
  • Leveraging, enforcing and improving the brand
  • Easier to launch new product
  • Brand and product infrastructure in place
  • Efficient in promotion
  • Developing the brand and offering consumers variety
  • Attracting new consumers to the brand
36
Q

What are the cons with having the same brand in the same product category?

A
  • Can confuse the consumer
  • Poses a risk to the brand if it fails
  • Can cannibalize the head brand
  • Can dilute the brand identity
37
Q

What are the cons with having the same brand in a new product category?

A
  • Can even more confuse the consumer
  • Poses an even greater risk to the brand if it fails
  • Can cannibalize the head brand
  • Can dilute the brand identity
38
Q

What are the pros with having the same brand in a new product category?

A
  • Leveraging, enforcing and improving the brand
  • Easier to launch new product
  • Brand and product infrastructure in place
  • Efficient in promotion
  • Developing the brand and offering consumers variety
  • Attracting new consumers to the brand
  • Increasing the market
39
Q

What are the cons with having a new brand in the same product category?

A
  • No leveraging of one brand
  • Confusing to the informed customer
  • Loosing out on the benefits of building one large, strong brand identity
40
Q

What are the pros with having a new brand in the same product category?

A
  • Chance to diversify to different target groups and target markets
  • Little confusion – separate brands in the average consumer’s view
41
Q

What is franchising?

A
  • The brand concept is licensed, but also distribution channels are extended,
  • Essentially all brand elements are licensed out to capture the concept
  • IPRs, primarily trademarks, copyright and design rights.
  • But also other unprotected elements (format)
  • Both entitles and obligates the franchisee to apply the whole concept
42
Q

What different kinds of franchising are there?

A

Product or trade name franchising
(car dealer)

Manufacture franchising
(soft drinks)

Business format franchising
(McDonalds)

43
Q

What legal fields does franchising touch upon?

A 
IP law
Competition law
Contract law
Marketing law
Company law
Consumer law
Labour law
44
Q

What is a good selection strategy for descriptive content?

A
  1. Use an already existing term
  2. Modify an already existing term
  3. Create a completely new term
  4. Avoid using descriptive content alltogether

The pros and cons with the different ways can be evaluated from three viewpoints:

  • Differentiating support
  • Market existence
  • Customer reification of the product/brand
45
Q

What are the legal requirements for getting a trademark registered?

A

Represented graphically and distinguishing the brand.

46
Q

What is brand storytelling?

A

Storytelling is a powerful technique for building relationships.Contrary to popular belief, brand storytelling is not about your company. It’s about your customers and the value that they get when engaging with your product or service.

47
Q

Name three brand development strategies

A

Innovation analysis

Customer analysis

Competitive landscape analysis

48
Q

What is innovation analysis?

A

(it is a brand development strategy)

It features introduction to the innovation, its distinctive features, and its performance

49
Q

What is customer analysis

A

(it is a brand development strategy)

• Segmentation of market, primary target segment(s)

• Buying-process type of product, basis for making decisions, who makes/influences purchase
decision, geographical differences

50
Q

What is competitive landscape analysis?

A

(it is a brand development strategy)

  • Competitive landscape look like, players, compare to existing alternatives
  • Positioning of main competitors, gaps to be exploited
  • Distinctive term selection, norms or trends to influence, categorization of competing offers
51
Q

What is ingredient brands?

A

ingredient-branding is creating a brand for an ingredient or component of a product, to project the high quality or performance of the ingredient.

52
Q

Ethical issues with communicating the brand

A
  • Regulatory Environment
  • Legislation and other external regulatory factors
  • Internal – our policies
  • Social Acceptance
  • What wouldn’t we do even if it was per se ”legal”
  • What are our Corporate Cultural wanted behaviours
  • Brand values
  • Competitive Environment
  • What do our competitors do?
  • What do our customers expect?
  • Employee Engagement
  • Do our people know and respect the boundaries of our business?
  • Are they educated /Trained?
  • Are our employees motivated and engaged by our culture and values?
  • Are our leaders role models?
53
Q

What governs the ethics?

A

A hierarchy, with law at its core

  • Law
  • The spirit of the law
  • Committments
  • Internal policies and code of conduct
  • General public opinoon of what is right and wrong
54
Q

Why is ethics important for the business?

A

Because it’s bad for the business if the public perceives the business as crooks.

55
Q

How do you evaluate and analyse things in a brand setting?

A

From a business and from a legal point of view!

56
Q

How do you do an innovation analysis?

A

You present the innovation by describing it

You outline its distinctive features

You describe its performance

57
Q

How do you do a customer analysis?

A
  • How is the market segmented? What are the primary target segment(s)?
  • What is the buying-process for the type of product, basis for making decisions, and who makes/influences purchases?
  • Is there any differences in the decision making process? Any differences in terms of geography?
58
Q

How do you do a competitive landscape analysis?

A
  • What does the competitive landscape look like? What players are there? What are the existing alternatives?
  • Positioning of main competitors, gaps to be exploited
  • Distinctive term selection, norms or trends to influence, categorization of competing offers
59
Q

How do you evaluate a franchising opportunity?

A

With the seven-step DD

1 - Company, owner, organisation
- Is there enough competence and resources?

2 - Profitability
- is there enough for two parties?

3 - Key success factors
- can they be repeated?

4 - Capital required
- Determines the growth speed

5 - Competence of the franchisee required
- Determines growth speed

6 - Quality assurance
- Can the quality be controlled?

7 - Brand
It must be able to protect (and transact)

Juridik (8 decks)

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