Domain 5 - Promotional Activity (13%) Flashcards
What is a brand?
- Your corporate identity
- The face that your firm presents to your clients and to the world
Why is developing a corporate identity so important?
- It creates a good first impression
- It fosters continued client loyalty
What does your brand represent?
The perceptions that both internal and external audiences have of your firm
What is the principal role of a brand?
To differentiate your firm from competitors
What is a perception survey?
A series of questions posed to partners/clients/employees that gets info that is then used to shape the company’s brand.
What is a vision statement?
An expression of what your firm aspires to be.
What is a mission statement?
It describes where the firm is going and how it plans to change your practice.
Ex) “We intend to transform our company into the most respected laboratory design firm on the West Coast.”
Difference between vision statement and mission statement?
Vision statement = what your firm aspires to be
Mission statement = where your firm wants to go and how it intends to change your practice
*A mission statement is much more directed than a vision statement.
What is a unique value proposition?
A short statement (1 or 2 sentences) that tells potential clients your area of expertise and what they’ll get when they hire you.
AKA what your firm is right now.
What is differentiation
The ways in which a product, service, or firm is different from its competitors
It’s an internal issue
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
What is an identity map?
A tool used to explore how your firm compares with your competitors
What is the difference between a Generalist and Specialist firm?
Generalist = pursues work in a number of markets Specialist = pursues work in 1 or just a few markets
What is the difference between a Client Driven firm and a Market Driven firm?
Client driven = focuses on a limited number of existing clients
Market driven = focus on growing by getting involved in 1 or more markets
What is the difference between Design vs Execution Focus?
Design focus = more concerned with design/big idea/vision
Execution focus = more concerned with completing the project successfully and meet client’s expectations
What is the difference between a Unique Player vs a “Me Too” Player?
Unique firm = distinctive approach/perspective
“Me too” firm = one of the pack
How often should your corporate identity be refreshed?
Every 5 - 10 years
What is brand architecture?
The hierarchy and relationship structure between a parent brand and its sub-brands, divisions, joint ventures, and affiliations.
What is a naming convention?
A formal structure and guidelines used to create brand names.
What is a monolithic naming architecture?
Uses one name for the branding of all entities
What is a dominant naming architecture?
Uses one brand as the lead brand with subordinate entities identified in the descriptive modifier
What is a logo-linked naming architecture?
Multiple brands that share the same symbol
What is discrete naming architecture?
Every brand is different
What is cobranding?
A type of branding that is often used in partnerships or affiliations