Chapter 14: Branding Flashcards
What are Direct to Consumer brands (DTC)?
DTC brands sell directly to consumers without involving retailers, primarily using digital and social media for branding. Once they scale, they may adopt traditional branding methods like TV ads and retail presence.
What is the definition of a Brand according to David Ogilvy?
David Ogilvy, known as the “Father of Advertising” defined a Brand as “the intangible sum of a product’s attributes”
How does the dictionary define Brand?
The dictionary defines Brand as “a person’s perception of a product, service, experience, or organization”
According to the textbook, What is a Brand?
A Brand is a name, term, symbol, design, or combination of these that identifies and differentiates a firm’s products.
What are Brand Marks (aka Logos)?
Brand Marks are elements of a brand, not expressed in words, that a consumer recognizes.
What is an Important Note about Brands?
Brands are everything a product means to you
What is Brand Loyalty?
Brand Loyalty is a consumer’s allegiance to a brand, shown by repeated purchases.
What is Brand Recognition?
Brand Recognition is the degree to which customers can identify a brand.
What is Brand Image?
Brand Image is the unique set of associations made with a brand.
What is the first key to a successful brand?
Deliver a product that provides value
What is the second key to a successful brand?
Create a consistent brand image
What is the third key to a successful brand?
Create consistent brand messaging
What is the fourth key to a successful brand?
Capture feedback
What is Brand Equity?
Value a firm gets from consumers’ positive perception of products.
What are the benefits of Brand Equity?
1) Improves success vs. competitors
2) Expand into new products
3) Consumers have positive perceptions
4) Consumer Trust
What are the two methods of measuring Brand Equity?
1) Qualitative
2) Quantitative
What Qualitative methods are used to measure Brand Equity?
1) Free Association
2) Projective
What does Free Association do?
involves asking consumers what comes to mind when they think about the brand, and whether those associations are consistent with the firm’s MKT-mix strategies
Ex: “what comes to mind when you hear Beats?”
What do Projective Techniques do?
tools used to uncover the true opinions and feelings of consumers when they are unwilling or otherwise unable to express themselves; can involve asking a consumer to compare a brand to a person, animal, car, or country
Ex: “If Microsoft was a car, what kind of car would it be?”
What Quantitative methods are used to measure Brand Equity?
1) Brand Recognition
2) Brand Recall
What does Brand Recognition do?
helps marketers understand:
1) which brands stand out in a consumer’s mind/memory
2) the strength of a consumer’s association with the brand
What does Brand Recall measure?
Ability to identify brand under a variety of circumstances
Ex: “When you think of great pizza, what brands come to mind?”
What are Brand Strategies?
aim to maximize equity without diluting profits or damaging the brand; they align with the overall marketing strategy
What is Brand Extension?
the broadening use of a current brand to include new products in a different product category.
Ex: A beverage brand launching a snack line
What is Brand Revitalization?
a strategy to recapture brand equity and identify & establish new sources of brand equity, such as rebuilding trust and investment in the brand
What is Co-branding?
a strategy in which two or more companies issue a single product to capitalize on the equity of each company’s brand
What are Private-Label Brands?
are products developed by a retailer & sold only by that specific retailer; also referred to as store brands
What is Packaging?
the design & production of a container for a product; it communicates the quality of the product
How does packaging promote brand image?
Packaging provides marketers with an opportunity to promote the image they want others to associate with the brand.
How can Packaging reinforce brand image?
Marketers can utilize Packaging to reinforce their brand image with consumers
For instance, the demand for environmentally friendly packaging has changed the marketing landscape for U.S. consumer goods
Why do consumers engage with a Brand?
- seeking discounts
- entertainment
- looking for new products
- posts that teach something
- information research
- engaging with customer service
What are the Social Media Branding Goals?
Social media can support the goal of building a successful brand by:
1) allowing firms to build deeper relationships with consumers
2) generating positive word-of-mouth
Why is it important to Monitor Social Media Presence?
It helps marketers recognize potential threats to brand equity quickly and develop solutions if needed
How does Monitoring Social Media help marketers?
Marketers who monitor their brands can facilitate ongoing dialogue with customers, strengthening brand loyalty over time.
What is the benefit of Integrating Communication on Social Media?
Firms that monitor their social profiles and integrate various communication methods can successfully leverage social media to build a successful brand.
What are the key stakeholders in Nonprofit Branding?
The key stakeholders include:
- donors
- staff
- volunteers
- beneficiaries
- partners
What are the characteristics of an effective Nonprofit Brand?
An effective Nonprofit Brand should be:
- unique
- pleasing to the eye and ear
- easy to remember
- reflective of the organization’s work
Why is a strong Brand Image important for a Nonprofit Organization?
A strong Brand Image helps align supporters with the organization’s mission and deepens their commitment as donors, volunteers, and advocates.
How are Nonprofit Organizations different than for-profit organizations?
Nonprofit Organizations have:
- complex missions that are hard to achieve
- difficult to measure directly
- typically require a number of partners
What does high Brand Equity do for Nonprofit Organizations?
A Nonprofit Organization with high Brand Equity can use the value stakeholders associate with the organization to raise the funds and support its needs to accomplish its mission
