chapter 13 Flashcards
Holistic
approach is one that emphasizes the total offerin–provdes complete solution to buyers needs (delivery, service, etc.)
brand functions
increased information efficiency (easier for customers to gather and find info)
risk reduction (reduces customer risk)
value added or image benefit creation
brand
collection of experiences and associations attached to a company, organization, product or service.
refers to concrete symbols such as a name, logo, etc.
role of brand in b2b marketing
differentiate
create brand loyalty
differentiate marketing efforts
branding triangle
this is all about trust and goals being met of all organizations
company– customers–collaborators (back to company)
brand management
is the organizational framework that systematically manages the planning, development, implementation, and evaluation of the brand strategy
brand image
the impression of a product held by real or potential consumers.
brand strategy
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.
visual identity code
Guidelines that specify the use of each brand element
what does managing a brand really mean?
managing the associations related to the brand in the customers memory
brands create 4 values
functional-signals
monetary value
social value- facilitate relationships with others
psychological value- how we feel about ourselves and represent ourselves
b2b vs. b2c
- brand name is company name
- differentiation can be more difficult
- reaches beyond customers (stakeholders, investors, employees)
8 roles of B2B brands
- secure future business
- create brand loyalty
- differentiate marketing
- create preferences
- create brand image
- command price premium
- increase sales
- differentiate
house of brands
multiple brands under corporate head
P&G have tide, venus, swiffer
branded house
corporate brand applied to multiple lines (ex FedEx has express, office, ground, etc. )
hybrid brand architecture
?
brand equity components
brand awareness, loyalty, associations
brand equity accrues to the firm, not the product
brand identity
-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
brand essence
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
4 ways to develop a strong brand
- 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
brand equity pyramid
- brand salience (broad awareness)
- brand performance & imagery (strong, favorable association)
- consumer judgments & feelings (positive accessible reactions)
- consumer brand resonance (intense active loyalty)
external marketing
regular work of pricing, distributing, and promoting of products and services to customers
internal marketing
all actions that train and motivate collaborators to become true brand ambassadors
researched based evaluations
brand equity measurement collected by consumer behavior that puts a financial value on brands
financially driven approaches
estimate the total financial value of a brand
brand building
strong brands are built through careful establishment of a relationship with each customer and prospective customer
ingredient branding
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.
