Brands Flashcards
What is the base of the brand architecture model? and why is it important?
Brand knowledge
. you have to know a brand to buy it.
. without knowledge of the brand, other parts of the architecture are redundant
What are the five pillars of brand architecture?
Brand heritage, core values, brand territory, brand personality, brand properties
What is brand heritage?
the background to the brand and its culture. How it has achieved success (and failure) over its life. Brand heritage can form an extremely useful platform to build on, and some brands have long histories to help them stand out.
What are the core values?
A small set of timeless guiding principles
• Only a few values can be truly core
• To identify the core values, determine the values that are
central and passionately held
• Values must stand the test of time, they do not change with
the market.
What will being clear on your core values allow you to do?
When you are clear on your core values, you will be able to : • Make Better Decisions • Achieve greater credibility • Build stronger relationships
What is Innocents core value? and explain importance
Having a natural product- helps appeal to their healthy customer target market. Overall good image= higher sales and brand equity
What is brand territory? and give an exmaple
Importance of pillar
The brand’s target market and the market sector.
e.g. Land rover competes in the 4x4 industry and and SUV
Necessity for every brand however not the most influential part in terms of success and durability
What is brand personality?
The character of the brand described in terms of other entities, such as people, animals or objects. These are both enduring and differentiating.
What is an example of brand personality?
Harley Davidson has the brand personality of being notoriously rebellious which attracts a certain customer
What are brand properties? and give an example
All the images, sounds, slogans, colours and
other physical elements that carry a brand’s
perception over various ad campaigns,
mediums and/or product design and
packaging.
e.g. ikea has a distinctive yellow and blue colour scheme
What makes up the base of the roof and the roof of a brand?
Brand loyalty and brand equity
What is brand loyalty?
The extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands.
What are examples of brand loyalty?
Coke vs Pepsi
Apple Mac vs Windows PCs
MacDonalds vs Burger King
iPhone vs Android/Samsung-iphone upgrades
What is brand equity? and give example
The added value that accrues to a product
as a result of investments in the marketing
of the brand. An asset that represents the value created by the relationship between the brand and
customer over time.
e.g apple has a high brand equity as it has all the other pillars
What is a brand?
A brand is a mixture of attributes, tangible and intangible, symbolised in a trademark, which, if managed properly, creates value and influence
What is/ why is brand architecture important?
Brand Architecture is an important part of any company and can be referred to as a building plan and is the main factor that helps in making a strong and durable brand
What does a brand mean for a consumer?
. Source of product . Lower risk . Less cost of searching for a choice . Symbol of quality . Symbolic device
Why is a brand a source of product for a consumer?
Consumers can easily make a purchase decision based
on brand
Why is a brand lower risk for a consumer?
Brands mean lower purchase risk to consumers as they
are dealing with a product or organization that they
trust
Why is a brand less cost of searching for a consumer?
they make quick purchase
decision and save lot of time
Why is a brand a symbol of quality for a consumer?
High influence and price suggest a reliable, quality product
Why is a brand a symbolic device for a consumer?
Brands play a significant role in signifying certain product
features to consumers
What does a brand mean for a seller?
. Means of Competitive Advantage . Legal protection of products’ features . Satisfied customer . Means of profit . barrier to entry
Why is a brand a means of competitive advantage for a seller?
The brand loyalty that consumers have means that when a new product is released they will choose the brand before
Why is a brand a means of legal protection of products feature for a seller?
Brands help to protect the unique features/traits of
products by legal copyrights
Why does a brand mean a satisfied customer for a seller?
Brand represents values, ideas and even personality
and hence leads to an assortment of memories in
customers’ mind and hence satisfied customers
Why is a brand a means profit for a seller?
The brand equity gained means market superiority which leads to higher sales, the ability to charge price premiums and the power to resist distributor power
Why is having a brand a barrier to entry for a seller?
- The reputation of strong brands may be a powerful barrier to competition because The impact of the strong, positive perceptions held by consumers about top brands means it is difficult for new brands to compete
What key aspects do companies need to consider to grow the brands of a laptop, food and clothes?
. Laptop- quality, features, price
. Food- price, taste, ingredients, values(free range)
. Clothes- look, design, colour, price
How can big brands survive?
. Renovate/reinvent the core product: coke added diet, zero double check CASE STUDY
. Stay in touch with evolving consumer needs
. Stay agile in the market-react to trends
. Be strategic- better to do 1 thing well than ten things poorly. Don’t have to expand range
. Play to advantages- e.g. get good shelf space
What are insurgent brands?
Small, innovative brands that challenge incumbent brands for their market share by introducing creative products that meet customer expectation.
How do insurgent brands create disturbance in the market?
Heavily use digital marketing, analytics and customer reviews to give consumers what they want not what big brands are offering
Characteristics of insurgents?
agile, tech-savvy, customer focus, risk takers
What is brand knowledge?
Kevin Keller defined it as an awareness of the brand name and belief about the brand image but knowledge of the brand is equally important.
What is an example of brand heritage and explain importance?
Stella Artois- “reassuringly expensive” image created by marketed heritage of being French but actually Belgium
=nostalgia and emotional connection to the drink being romantically french -makes customers beleive in value
-less important for new tech
What is brand personality less/more important for?
Functional items e.g dishwasher
most important for young target market
most for clothes-represents you more than any other product
Importance of brand properties and where most important with example
adds to distinctiveness+creates differential to other products
makes them unique+help portray personality
most important=young=snap crackle and pop
Importance of brand loyalty in the architecture?
. hardest to get-held up by 5 pillars-but difference between success +failure
. critical for sustainable growth-harder to gain than keep
. major barrier to entry
. more important for more involved products
. good experience=loyalty becuase it makes purchase less risky
food=less loyal
What are the conclusions from assessing brand architecture?
. brand knowledge most important
. brand equity is the result but held up by the architecture
. product and target audience vary the importance of each element
. most brands require strong personality due to psychology of consumers
