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COMM 223 > Chapter 9: Brand Strategy and Management > Flashcards

Chapter 9: Brand Strategy and Management Flashcards

1
Q

what is a Brand?

A

identifies the maker or marketer of a product with a name, symbol, icon, design, or a combination of these

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2
Q

what is a the difference between a trade name and a brand?

A

A brand may identify a company, one of its products, or a product line

the trade name is used to identify a firm as a whole

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3
Q

what are the qualities (not characteristics) of a brand?

A

Brand have status and value

It has a personality but it is nothing more than an idea

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4
Q

why do customers trust trademarks?

A

they reassure them that the product they are getting has the attributes they want and expect from the maker

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5
Q

what can be trademarked?

A

names

symbols

characters (Pillsbury Doughboy)

shapes (coca-cola bottle)

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6
Q

what are the characteristics of trademark names?

A

have monetary value

must be protected

must be distinguished from regular or generic words with similar meaning

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7
Q

how are trademark names represented?

A

represented by: TM

once they have done the whole process of registering its trademark:

®

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8
Q

what are lost trademarks?

A

marks which were originally legally protected trademarks

have been generalized and have lost their legal status due to becoming generic terms

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9
Q

why are brand relationships so important?

A

For many products, the choice is based on what the consumer believes about the brand

allows to differentiate from the competition

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10
Q

how can people become brands?

A

when, just as with products, their name takes on meanings that transcends the person

ex: Gianni Versace, Kim Kardashian, Coco Chanel, Michael Jordan

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11
Q

what are the brand characteristics

A

logos

brand personality

status

brand equity

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12
Q

logos

A

designs that represent the brand

what they may or may not incorporate about the brand name

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13
Q

what do managers feel like sometimes, logos must change?

A

designs that represent the brand and shit

they don’t wan to create confusion or make the brand lose value

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14
Q

brand personality

A

The sum total of all the attributes of a brand

the emotions it inspired in the minds of consumers

Describes brands by using same kinds of adjectives you would use on people

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15
Q

status

A

Status must not be confused with value or popularity!!

ex: Rolls-Royce and Bentley are higher-status car brands than Ford and Toyota

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16
Q

brand equity

A

the dollar amount attributed to the value of a brand

based on all the intangible qualities that create that value

difficult to calculate, but one indicator is the extent to which people are willing to pay more for the brand

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17
Q

what are the consumer perceptions of brand strength

A

differentiation

relevance

knowledge

esteem

once again, company value is not the brand value

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18
Q

differentiation

A

what makes the brand stand out

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19
Q

relevance

A

how consumers feel it meets their needs

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20
Q

knowledge

A

how much consumers know about the brand

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21
Q

esteem

A

how highly consumers regard and respect the brand

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22
Q

what do the main branding strategy decision involve

A

brand name selection

brand positioning

brand sponsorship

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23
Q

what should brand name selection consider?

A

suggest something about the type of products it will brand

easy to pronounce, recognize, and remember
distinctive

extendable (not tied too closely to one product (Apple, Amazon, Nike))

pronounceable in many languages

capable of registration and protection as a trademark (made up names work best)

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24
Q

brand positioning

A

can be positioned based on product attributes

ex: Pampers focused on attributes such as fluid absorption, fit, and disposability

to associate the brand with a particular benefit

ex: Pampers offer a dry baby bottom

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25
Q

why are attributes the least desirable quality for a brand?

A

because competitors can easily copy them

26
Q

brand sponsorship

A

Branded products are either national brand or private brands

27
Q

national brand (Manufacturer’s Brand)

A

brand created and owned by the manufacturer of the product

They are well-known and well-established

Example: When Samsung and Kellogg sell their output under their own brand names (Samsung Galaxy or Kellogg’s Frosted Flakes)

28
Q

Private Brands (Store Brand, Private Label)

A

brand names applied by the marketer to products manufactured for them under contract

Example: Walmart’s Great Value brand, Shopper Drugmart’s Life brand, and President’s Choice

29
Q

In the so-called battle of national vs. private brands, why do retailers have many advantages?

A

they control what products they stock, where they go on the shelf, and the prices they charge

They usually charge their store brand lower than the comparable national brands.

30
Q

what are methods of branding new products?

A

licensing

co-branding

31
Q

licensing

A

the buying and selling of the rights to use a brand name,
logo, character, icon, or image

Example: if you ever bought an NHL
team jersey or any other item bearing the logo of a professional
sports team, you own an item made by a company that licensed the
right to make the item (such as Reebok)

32
Q

co-branding

A

the practice of using the established brand names of
two different companies on the same product

It allows a company to expand its existing brand into a category it might otherwise have
difficulty entering alone

The 2 brands must be complementary!

Example: Walmart and McDonalds, Apple and Nike, Target and Starbucks

33
Q

what are the 4 options a company has when it comes to brand developing?

A
  1. line extensions
  2. brand extensions
  3. multibrands
  4. new brands
34
Q

line extensions

A

extending an existing brand name to new forms, colours, sizes, ingredients, or flavours of an existing product category

Example: Honey Nut Cheerios and MultiGrain Cheerios are extensions of the Cheerios product line

35
Q

when does a line extension work best?

A

when it takes sales away from competing brands

not when it “cannibalizes” the company’s other items

36
Q

brand extensions

A

extending an existing brand name into new product categories

37
Q

what are the advantages of brand extensions?

A

it gives a new product instant recognition and faster acceptance

It also saves the high advertising costs

Example: Mr. Clean was extended to Mr. Clean Erasers

38
Q

what must you be careful with regarding line extensions?

A

the extension may confuse the image of the main brand (Cheetos’ lip balm met an early death)

39
Q

mutlibrands

A

a brand development strategy in which the same manufacturer produces many different brands in the same product category

Example: Whirlpool markets appliances under its corporate brand but also Maytag, KitchenAid, Jenn-Air, Amana, and Inglis

40
Q

what must you be careful regarding multi brands

A

it is better to have a few highly profitable brands than many brands that produce low profits

41
Q

new brands

A

established companies sometimes create new brands when it develops a new product or product line

Example: Toyota created Scion to appeal to millennials.

42
Q

what type of brand development is part of an existing product category but part of a new brand name?

A

multi brands

43
Q

what type of brand development is part of an existing product category and existing brand name?

A

line extension

44
Q

what type of brand development is part of new product category but also part existing brand name?

A

brand extension

45
Q

what type of brand development is part of a new product category and a new brand name?

A

new brands

46
Q

what is brand communication?

A

Focusing on communicating brand positioning, or image, rather than on product features

47
Q

what are brand touchpoints

A

advertising, marketing communications, personal experience with the brand

WOM, social media, company and brand websites, store displays, and anything else that brings a consumer into contact with a brand

48
Q

what are the four dimensions of brand experience?

A
  1. sensory
  2. affective
  3. behavioral
  4. intellectual
49
Q

when are the dimensions of brand experience evoked in consumers?

A

when they come into contact with touchpoints

50
Q

brand icons

A

objects with distinct shapes, colours, or patterns that are associated with the brand

ex: Disney’s castle, Coca-Cola’s red and white swoos

51
Q

brand characters

A

lifelike brand icons, or mascots, that can move, speak, and interact, and that have personality traits

ex: Pillsbury Doughboy, Tony the Tiger, Michelin Man, Betty Crocker

52
Q

why are brand icons and brand characters important for brand engagement?

A

will increase the the interaction between consumers and brands

53
Q

what is brand engagement based on

A

based on the emotional connection consumers feel toward the brand

54
Q

what are brand ambassadors

A

A real person who acts as a spokesperson for the brand

under contract with the brand’s marketing organization

Typically selected for their looks, and may be used for a limited amount of time

55
Q

what are brand stories and what do they do?

A

Every brand has a history, and brand managers use elements of the history as well as fiction to create stories for their brands

Bring brands to life and keeps them interesting

Inspire loyalty from consumers

56
Q

what is branded content?

A

any form of information or story written and produced by a brand marketer

the brand is clearly and prominently featured

“Using the power of storytelling to move consumers into action”

57
Q

branded entertainment

A

a form of entertainment created with the cooperation or financial support of a marketer

58
Q

what the most common form of branded entertainment

A

videeeooo

59
Q

what are brand advocates

A

customers, employees, and others who willingly and voluntarily promote their favourite brands

Not to be confused with brand ambassadors

60
Q

what is the difference between brand ambassadors and brand advocates

A

brand ambassadors are paid, whereas brand advocates are not

61
Q

how can a company develop brand advocates

A

nurture recommendations and opinions (trust them)

brand must first build a strong base, advocacy starts close to home

Make customers and employees part of the brand story

deliver an experience that gets them talking

Outperform where they care most

COMM 223 (13 decks)

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