Class 2 - Branding Flashcards
Definition of a brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller’s good or service from those of other sellers.
Colors, Symbol, Sound, Term
The functions of a brand
(Organization, Trust and Expression) :
Organization
Organization
Brands help consumers mentally organize the marketplace.
The brand name summarizes information, allowing consumers to make inferences about the product based on the association with the brand.
Ex. This car is a Mercedes. It must be expensive and run well.
Trust
Brands reduce consumers sense of uncertainty about aspects of a product.
Consumers may trust a certain brand and thus be more willing to try their new products.
Ex. I’m willing to try this new laundry detergent because it’s Mrs. Meyer’s and all their other products work amazingly well.
Expression
The brand name allows consumers to signal aspects of their personality to themselves and others.
Ex. She wears Kate Spade so she’s feminine and put-together
Ex. I wear Doc Martens so I’m counterculture and cool.
Consumers are willing to pay more for branded products because:
They trust the brand to deliver a good product
They use the brand to signal something about themselves
What is brand equity
The value of the brand itself, based on the benefits people associate with the brand name, the perceived quality of the brand, the image of the brand and other assets.
When thinking about how consumers respond to brands, think about: CAB
COGNITION
What are consumers thoughts about your brand?
- Brand Awareness: Are they aware your brand exists?
- Brand Perception: How do they perceive your brand?
- Ex. Ben and Jerry’s is delicious but unhealthy
AFFECT
What are consumer’s emotions about your brand?
- Interest: Are consumers interested in trying your brand?
- Attitudes: Do consumers feel positively about your brand?
– Ex. Ben and Jerry’s is a good company / Ben and Jerry’s is my comfort food.
BEHAVIOR
How do consumers behave towards your brand?
- Trial: Are consumers willing to try your brand
- Repeat Purchase: Do consumers buy your products repeatedly?
– Brand Laziness
– Brand Loyalty
- Word of Mouth: Do consumers recommend your product to others?
– Leave reviews, tell people in-person
ANTHROPOMORPHISM
def. The attribution of human-like traits to non-human entities
- Consumers can come to think of brands as human-like through a process called anthropomorphism
- Consumers can form human-like relationships with anthropomorphized brands
- Many human-type relationships with brands facilitate brand loyalty and other desirable behaviors.
01: Consumers can come to think of brands as human-like
Have human-like physical features
- Bottles in the shape of women’s bodys (Dove)
- Giving products faces
- Mascots
- Showing products engaging in human activities (like Sunbathing)
Speaking in a human-like way
- The product is described using first-person pronouns (“I will always be there to watch your dog” for a Furbo)
- Giving the product a human-like name (and/or gender) like Auntie Anne’s
- Follow human conversational norms like asking questions and saying “hello” and “goodbye”
Engage with the world in a human-like way
- Engaging in human behaviour (like drinking through a straw)
- Following human behavioural archetypes (the rebel, the underdog)
- Underarmor positions itself as an undersog brand by working with athletes that are not yet the “stars” of the sport
- State farm positions itself in the role of the “protector” or the hero
Anthropomorphism leads consumers to attribute a human-like mind to the brand
Being Trustworthy
- When we see a brand as human, we are more likely to believe the brand ”understands” us and acts in our best interest. This can make the brand seem more trustworthy.
Following Norms
Because anthropomorphized brands are thought to act intentionally, consumers attribute more credit and blame to their actions. For example, a brand is punished more harshly for an unfair practice (like price gouging) if they are anthropomorphized.
Having a Personality
People see brands as having human-like personalities. For example, Hallmark is sincere and Redbull is exciting.
Brand personalities
Sincere, exciting, competent, sophiticated, rugged.
Sincere
- Down-to-earth
- Honest
- Wholesome
- Cheerful
Exciting
- Daring
- Spirited
- Imaginative
- Up-to-date
Competent
- Reliable
- Intelligent
- Successful
Sophisticated
- Upper class
- Charming
Rugged
- Outdoorsy
- Tough
Consumer-Brand Relationships Mimic Interpersonal Relationships (The good(ish)
Committed
- Significant lasting commitment
- Expect to be using for years to come
- Will forgo competitors
- Ex : Sports teams, Computer/Phone brands, Car brands & Alma mater
About half of all consumers have no committed brand relationships
Dependent
- “Cannot live without”
- Truly irreplaceable
- Uncomfortable to think about being separated from this brand
- Ex: Computer Phone Brand, Caffeinated drinks brands & Google
About 40% of consumers have no dependent brand relationships
Secret Affair
- Hide your usage of this brand from others
- Use the brand regularly
- Don’t want it associated with you
- Ex : Cigarettes, Junk food, Sexual health products & Unethical companies (e.g., Walmart)
Consumer-Brand Relationships Mimic Interpersonal Relationships (The bad(ish)
Exchange
A brand that provides benefit at an acceptable cost
“Does its job and nothing more”
Ex: Personal care (toothpaste, soap, deodorant), Cleaning products & Domino’s Pizza
“Derogatory” (abusive)
Brand does not seem to value you
You have very little control about how you’re treated (and may be trapped with that brand)
Ex: Public Transit Systems, Cable/Phone service, Utilities & Airlines
Adversarial
A brand you will not buy, support, or use
You think of this brand as an opponent or rival
Ex : Rival sports teams, Political parties & Unethical companies (e.g., Walmart)
The Effects of Consumer-Brand Relationships
Strong consumer-brand relationships have been associated with a variety of positive outcomes including…
Brand advocacy (word-of-mouth, defending the brand against criticism)
Brand loyalty (refusal to consider other brands)
Accepting product extensions from the same brand
Paying a price premium for the brand
Forgiveness of minor brand transgressions
