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International Marketing > Chapter 12: International Branding Strategies > Flashcards

Chapter 12: International Branding Strategies Flashcards

1
Q

What’s a ‘brand’?

A

Name, term, sign, symbol, or design, or

combination of them

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2
Q

What do brands help with?

A

• Identify goods of a seller or group of sellers
• Differentiate one’s goods from those of competitors
• Convey a firm’s marketing strategy and positioning
to the markets

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3
Q

What is brand loyalty?

A

Exists when a customer always buys the same brand

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4
Q

What is customer loyalty?

A

Exists when a customer always buys one company’s products

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5
Q

What’s the development of branding?

A

•Ancient Greece and Rome -Wares were promoted by means of written information
•Middle Ages -Craftsman, guild and city signs were used for branding and promotion
Late nineteenth century
•Brands were used to help consumers distinguish one manufacturer’s products from another
•Most branded products were sold through rational marketing campaigns
Present times
•Brands are listed as assets on balance sheets
•Global brand -Gives a firm a uniform worldwide image, enhancing efficiency and cost savings
•Country-specific brand: Brand that is sold in only one country

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6
Q

Country-of-Origin Effect (COE) ?

A

Influence of country of manufacture on a consumer’s

positive or negative perception of a product

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7
Q

What are some factors that influence consumer perceptions?

A 
• Stereotypes about specific countries and product
categories
• Ethnocentrism
• Manufacturing country’s economy
• Fads surrounding products
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8
Q

What are Foreign-made products:?

A

Products made in a different country from the one they are being sold in

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9
Q

What are domestic-made products?

A

Products sold in the country in which they were made

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10
Q

Whats the difference between Pioneering versus follower brands?

A
  • Pioneering brands: Brands that were first in the market

* Follower brands: Brands that came later to the market

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11
Q

What are the features of brands owned by retailers?

A
  • Provide the retailer with high margins than manufacturers’ brands
  • Receive preferential shelf-space and strong in-store promotion
  • Provide quality products at low prices for consumers
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12
Q

What are some brand elements?

A
  1. Legal instrument
  2. Logo
  3. Company
  4. Shorthand
  5. Risk reducer
  6. Identity system
  7. Image
  8. Value system
  9. Personality
  10. Relationship
  11. Adding value (READ SLIDES)
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13
Q

what are the contents and functions of the legal instrument?

A

contents:
Mark of ownership
Name. logo, design
trademark

functions:
Prosecute infringers

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14
Q

What are the contents and functions of the logo?

A

contents:
Name, term, symbol, design
product characteristics

functions:
Identify, differentiate through visual identity and name
quality assurance

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15
Q

What are the contents and functions of the company?

A

Contents:
Recognisable corporate name and image
Programs of organisation define corporate personality

Functions:
Product lines benefit from corporate personality
convey consistent message to stakeholders
Differentiation- establish relationship

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16
Q

What are the functions of brands for buyers?

A
  • Reduce
  • Search costs by helping them identify specific products
  • Perceived risk by providing an assured level of quality
  • Psychological risk by eliminating negative social consequences of using the wrong brand
17
Q

What are the functions of brands for sellers?

A
  • Facilitate
  • Repeat purchases
  • Introduction of new products
  • Promotional efforts and premium pricing
  • Communication of identical messages to target customers
18
Q

What are some brand characteristics?

A
  1. Equity
  2. Consistency
  3. Image
  4. Benefits
  5. attributes
  6. Personality
  7. Differentiation
19
Q

What are the dimensions of brand value?

A

Functional, Expressive, Central

20
Q

Functional(brand)?

A

Performance of the product and rational reasons for purchase.

21
Q

Expressive(brand)?

A

Consumer’s self-image and how the brand fits in with that imange.

22
Q

Central(brand)?

A

Combination of functional and expressive values, plays central role in customers’ purchase decisions

23
Q

What are the components of brand equity?

A
  1. Brand loyalty
  2. Brand awareness
  3. Perceived quality
  4. Brand associations
24
Q

What is the process of creating a brand?

A
  1. Analyze the competition
  2. Know your target customer
  3. Decide on the positioning in the particular market
  4. Decide on global vs local contents and control mix
  5. Develop a consistent marketing communication strategy
  6. Create a balance between brand elements
  7. Establish an international brand equity measurement system
25
Q

Brand portfolio strategy

Structures:

A

Monolithic - one name and visual identity.
Endorsed- Corporate identity in association with subsidiary names
Branded products - Different names and appearances.

26
Q

Product brand?

A

About one brand, one product and one promise

27
Q

Line brand?

A

-Extension of a specific concept over several product categories

28
Q

Range brand

A

Similar to line brand but holds a more long-term perspective of the extension strategy

29
Q

Single brand name?

A

Single promise over a range of products belonging to the same area of competence

30
Q

Umbrella brand

A

Overarching, well-known master brand supports own-product brands in its portfolio

31
Q

Endorsing brand?

A

Master brand only acts as a guarantor concerning a specific aspect

32
Q

Brand strategy portfolio strategy?

A 
Brand portfolio
Portfolio rules
Portfolio graphics
Brand scope
Portfolio structure
Product defining roles
33
Q

Differences between branding and advertising:

A
  • Consumers are relying heavily on brands to simplify their purchase decision
  • Corporate communication must provide value to customers and other stakeholders
34
Q

What the corporate identity?

A

Changing or multiple identities can create instability

•Societal constituent perspective of a brand affects its corporate identity

35
Q

What does the corporate reputation do and how does it help?

A

• Reflects a firm’s relative standing in its competitive
and institutional environment
• Represents publics’ cumulative judgments of a firm
over time
• Helps
• Raise funds
• Recruit top graduates and retain the best staff
• Sell products at a premium

36
Q

Whats the corporate reputation rankings in fortune magazines?

A
  1. quality of management
  2. quality of products
  3. Innovationess
  4. Long-term investment value
  5. Financially soundness
  6. Ability to attract, develop, and keep people
  7. Rsponsabillity to the community and environment
  8. Wise and corporate resources

International Marketing (7 decks)

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