Chapter 14 Flashcards
name, term, design, symbol, or any other feature that identifies one marketer;s product as distinct from those of other marketers
brand
part of a brand that can be spoken (7Up, Scotch Tape)
brand name
element of brand that is not made up of words (McD’s Golden Arches, Nike’s Swoosh)
brand mark
legal designation indicating that the owner has exclusive use of brand or a part of a brand
trademark
full legal name of an organization, rather than the name of a specific product (Ford Motor Company)
trade name
Value of Branding to Buyers
- identifies specific products
- reduces purchase time
- provides a form or self-expression
- helps evaluate quality
- reduces perceived risk in purchases
- offers potential psychological reward
value of branding to sellers
- identifies the firm’s products
- makes repeat purchasing easier
- assists in new product introduction
- assists in promotional efforts
- fosters brand loyalty
- increases profitability
a customer’s favorable attitude toward a specific brand
brand loyalty
levels of brand loyalty
- recognition–alternative
- preference–prefers
- insistence–accepts no sub
marketing and financial value associated with a brand’s strength in a market
brand equity
components to brand equity
- brand name awareness
- perceived brand quality
- brand associations
- brand loyalty
brands initiated by producers and ensure that products are identified with their products at the point of purchase (Green Giant, Levis)–national brand
Manufacturer brands
initiated and owned by resellers (Great Value)–store brands
Private distributor brands
indicate only the product category and do not include the company name or other identifying terms (aluminum foil)
generic brands
characteristics of a good brand name
- used and recognized in all media
- unique; not too descriptive
- extendable
- easy to say and remember
- indicates product’s major benefits
considerations in selecting brand names
- role or purpose of name (communication or just identification)
- budget
- usability in all media (visual only, verbal, both, sound)
ways to name brands
- fanciful (made up)–Exxon, Kleenex, Nerf
- arbitrary–apple computers, dial soap
- suggestive–Mr. Clean, Greyhound Bus
- Descriptive–BCS Cleaning Supply
- Generic–aspirin, beer
characteristics of good (bad) brand names
- easy to say, spell, & remember
- message clarity
- distinctive: not too descriptive
- other physical/sensory qualities (rhymes, alliterations)
- potential for extension
- avoid negative/offensive connotations (bad translations)
why protect brand names?
- infringements by competitors
- may lead to loss of legal brand name rights
thermos, aspirin, corn flakes, yoyo, trampoline
lost trademarks
How to protect a brand name?
register, use properly and consistently, legally protect, advertise properly
estimated losses to brand conterfeits are:
$250-350 billon
strategy in which each product is given a different name (Sara Lee–Champion Sportswear, Jimmy Dean)
individual branding
all firm’s products are branded with the same name or part of the name (Kellogg’s Frosted Flakes, Kellogg’s Rice Krispies)
family branding
using one of its existing brands to brand a new product in a different product category (Bic pens–>Bic disposable razors, Bic lighters)
brand extension
using 2 or more brands on one product
Co Branding
- capitalizes on the trust and confidence that customers have in the individual brands
- represents a complementary fit in customers minds
an agreement in which a company permits another organization to use its brand on other products for a licensing fee (apply ipod accessories)
brand licensing
development of a container and a graphic design for a product
- is a vital part of a product
- can influence customer’s attitudes toward a product
- can influence purchase decisions
packaging
functions of packaging
- protection
- communicate symbolically
- provide customer convenience
- promote the product
importance of packaging
- cost
- aesthetics
- visibility
- patents
- upper management decision
- development and testing procedures
- source of competitive advantage
packaging considerations
- cost
- FDA packaging regulations
- consistency among organization’s package designs
- promotion role
- meet reseller needs
- environmentally responsible
using similar packaging for all of a firm’s products or packaging that has one common design element
family packaging
levels of packaging:
Primary (coke bottle)
Secondary (box toothpaste tube comes in)
Tertiary (shipping boxes)
unique features are used to make a product distinctive
uniquely shaped packages can attract attention
innovative packaging
- may increase demand because it increases amount of product available at point of consumption
- may make storage and handling easier
multiple packaging
- easier to handle in the distribution channel
- may allow more product on shelf
handling-improved packaging
criticisms of packaging:
- functional issues
- packaging costs
- safety issues
- deceptive packaging
providing identifying, promotional, or other information on package labels
labeling
series of electronically readable lines identifying the product and providing inventory and pricing information for producers & resellers
universal product code (UPC)
