Chapter 13: Business-to-BUsiness branding Flashcards
Why does branding ad value for the customer?
Branding makes the buying decision process easier and helps them reduce the risk of buying the wrong product
One way that marketing creates competitive advantage for the business-to-business firm
Brand management
How does branding help a company?
Branding adds value to a firm’s intangible assets and can create price premiums
Branding is a distinct way to ____products from the competition
differentiate
Branding is just as important in the B2B market as in the B2C market: T or F
T
How should companies approach the branding process?
New companies should work to build brand while established firms must nurture, protect, and use it with care
_____ plays an important role in markets by attracting qualified employees
Branding
______ helps people to organize their thinking and reduce their risk of purchasing the “wrong” product
Branding
An approach that emphasizes the total offering- the functional relationship between all of the pieces
Holistic
Brand perception is influenced by…
everything the company does that comes in contact with the customer
What are the most important brand functions?
Increased informational efficiency
Risk reduction
Value-added or image benefit creation
Brand is shorthand for the ___ _____ of the company
value image
The complexity of the buying process and size of the buying center make____ more relevant
brands
What increases the relevance of the brand in business markets?
Clearly visible “public” products
Recognition among buying center members
New task buying situations
What is the role of brands in business-to-business markets?
Differentiation - decommodotize products that are highly undifferentiated
Secure future business
Differentiate marketing efforts - more readily accepted than unbranded efforts
Create preferences
Command price Premium
Create brand image
Increase sales
Illustrates the marketing-related connections between a company, its collaborators, and its customers. It acts as a common field to the intersecting market participants.
Branding triangle
The ___ connects everything across all touch points of the business
Brand
The organizational framework that systematically manages the planning, development, implementation, and evaluation of the brand strategy .
Brand management
The choice of common and distinctive brand elements a company applies across the company itself and the various products and services it sells.
Brand strategy
The most important aspect of the branding strategy in business-ti-business companies?
defining the branding hierarchy
Companies can stretch their brand in what ways ?
Width - individual to corporate
Length - low to high end
Depth - national to international
if a company approaches several separate and diverse markets then ____ brands may be more favorable
Inividual
if a company approaches a whole industry then a ____ of brands makes sense
family
Which brand elements are key when building a strong brand?
Name
Logo
Tagline
Brand story
The ____ _____ _____ for the brand elements should folw a set of choice criteria in order to reduce the risk of diluting or weakening the brand
visual identity code
What are the brand building criteria for the visual identity code?
Available, meaningful, memorable, and protectable
What are the defensive criteria of the visual identity code?
Future oriented, positive, and transferable
It is usually less ____ to implement branding in business-to-business markets
costly
relates to the regular work of pricing, distributing, and promoting of products and services to customers
external marketing
describes all actions that train and motivate collaborators to become true brand ambassadors
internal marketing
primarily affected by internet marketing
Interactive marketing
Who are the three most important market participants?
Customers, collaborators, and the company
The means of marketing communication by which companies aim to inform, persuade, and remind customers- directly or indirectly- about their products and brands
Brand building tools
The brand building tools are not fundamentally ______ in business and consumer markets
different
Business-to-business markets typically focus on which brand building tool?
personal selling
In this brand equity and value approach, brand valuation is used to estimate the total financial value of the brand based on subjective judgements of knowledgeable people in an organization.
Financially driven approaches
In this approach to measuring brand equity and value, measurement is done using a behavioral approach that puts a financial value on brands by researching customer behaviors and attitudes that have an impact on brands
research based evaluations
___ approaches utilize both financial brand valuation and behavior brand valuation methods
Combined
Inter brand Corporation’s global brand consultancy defines brand value as what?
The net present value of future profits attributable to the brand
___ ___ in business-to-business marketing differs somewhat from branding in consumer markets - strong brands are built through careful establishment of a relationship with each customer and prospective customer
Brand building
Every other potential competitor has to show that it meets or exceeds the specifications and that its overall offering has better value when a firm has an offering that is a ___ in an industry
standar
A “shorthand” term simply referring to design engineers’ specification of materials and parts on the engineering drawings of devices
engineering call-outs
What are some disadvantages of a product becoming a standard?
The brand could lose some differentiation value and could lead to brand proliferation
How does a brand become a standard in an industry?
First with new technology, being the best with service, innovating the need and not the technology
___ marketing plays an important role in brand consistency
Internal
Involves positioning the product and organization with employees and internal stakeholders
Internal marketing
technique to defend the brand that involves a missionary seller building relationships with management above the influencers to reinforce the decision process
market up
defending the brand technique that involves paying attention to lab technicians, manufacturing personnel, and purchasing staff
Market down
defending the brand technique that involves usign the breakthrough customer product as a demonstration of a product offering’s capabilities
market sideways
Monopolistic competition makes the process of becoming a ___ more difficult and time consuming
standard
These serve to protect the premium brand of a product offering
subordinate offerings
These provide broader market coverage and protect high-end brands that have premium price and positioning
subordinate brands
In established markets in which young companies compete against companies with strong brands, young companies are at a disadvantage because they have no brand recognition or reputation: T or F
T
In early markets, young companies can build market ownership and brand reputation quickly: T or F
T
made up of brand recognition or awareness, quality of the products or services, and the customer’s positive beliefs - associations linked to the brand
Brand strength
This is a long term process that revolves around building value for the customers first
Building brand strength
the most positive associations come from what?
Customers’ direct experiences
The ability to provide appropriate value from the customer’s point of view
perceived quality
___ ___ means having the ability to perform very well on the most important dimensions as determined by the target customer
high quality
One of the most promising branding strategies for business-to-business companies
ingredient branding
An essential ingredient or component of a product has its own brand identity
ingredient branding or inbranding
The joint presence of two r more brands on a single product or service
Cobranding
This type of branding is directed at two or more downstream stages of the value channel
Multi-stage branding
Tremendously enhance the value proposition and points of differentiation of al products and services involved
brand alliances
