chapter 13

Question 1

Holistic

Answer 1

approach is one that emphasizes the total offerin–provdes complete solution to buyers needs (delivery, service, etc.)

Question 2

brand functions

Answer 2

increased information efficiency (easier for customers to gather and find info)
risk reduction (reduces customer risk)
value added or image benefit creation

Question 3

brand

Answer 3

collection of experiences and associations attached to a company, organization, product or service.

refers to concrete symbols such as a name, logo, etc.

Question 4

role of brand in b2b marketing

Answer 4

differentiate
create brand loyalty
differentiate marketing efforts

Question 5

branding triangle

Answer 5

this is all about trust and goals being met of all organizations
company– customers–collaborators (back to company)

Question 6

brand management

Answer 6

is the organizational framework that systematically manages the planning, development, implementation, and evaluation of the brand strategy

Question 7

brand image

Answer 7

the impression of a product held by real or potential consumers.

Question 8

brand strategy

Answer 8

is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments.

Question 9

visual identity code

Answer 9

Guidelines that specify the use of each brand element

Question 10

what does managing a brand really mean?

Answer 10

managing the associations related to the brand in the customers memory

Question 11

brands create 4 values

Answer 11

functional-signals
monetary value
social value- facilitate relationships with others
psychological value- how we feel about ourselves and represent ourselves

Question 12

b2b vs. b2c

Answer 12

• brand name is company name
• differentiation can be more difficult
• reaches beyond customers (stakeholders, investors, employees)

Question 13

8 roles of B2B brands

Answer 13

• secure future business
• create brand loyalty
• differentiate marketing
• create preferences
• create brand image
• command price premium
• increase sales
• differentiate

Question 14

house of brands

Answer 14

multiple brands under corporate head

P&G have tide, venus, swiffer

Question 15

branded house

Answer 15

corporate brand applied to multiple lines (ex FedEx has express, office, ground, etc. )

Question 16

hybrid brand architecture

Answer 16

?

Question 17

brand equity components

Answer 17

brand awareness, loyalty, associations

brand equity accrues to the firm, not the product

Question 18

brand identity

Answer 18

-aspirational external brand image for internal communication.
-Provides direction, purpose, and meaning for the brand
implies a promise to customers

ex: the Y, walmart, rolex, apple

Question 19

brand essence

Answer 19

a compact theme or concept that represents much or all of the core identity–for internal communication.

NOT a tagline. Ex:
Nike
Tagline: just do it
Essence: authentic athletic performance

or mcdonalds

tagline: im lovin it
essence: food, fast, fun

Question 20

4 ways to develop a strong brand

Answer 20

• deep brand awareness and identity
• establish meaning for the brand
• elicit positive brand response from customers through marketin gprograms
• build brand relationships with customers characterized by intense loyalty

Question 21

brand equity pyramid

Answer 21

1. brand salience (broad awareness)
2. brand performance & imagery (strong, favorable association)
3. consumer judgments & feelings (positive accessible reactions)
4. consumer brand resonance (intense active loyalty)

Question 22

external marketing

Answer 22

regular work of pricing, distributing, and promoting of products and services to customers

Question 23

internal marketing

Answer 23

all actions that train and motivate collaborators to become true brand ambassadors

Question 24

researched based evaluations

Answer 24

brand equity measurement collected by consumer behavior that puts a financial value on brands

Question 25

financially driven approaches

Answer 25

estimate the total financial value of a brand

Question 26

brand building

Answer 26

strong brands are built through careful establishment of a relationship with each customer and prospective customer

Question 27

ingredient branding

Answer 27

an essential ingredient or component of a product that has its own brand identity
ex: Pitney Bowes and Royal Mail (UK postal system) to offer customized documents managed and maintained by services in UK.