Exam 1 Flashcards
Brand
a name, term, symbol, design, or combinations which is intended to identify the goods and services of one sellers or group of sellers differentiate them from their competitors
logo
Short for “logotype”. Sign, name or trademark of an institution, a firm or a publication, consisting of letter forms, borne on one printing plate or piece of type.
symbol
a shape or sign used to represent a brand
What is a brand?
-builds its identity and distinctiveness
-promise value
forms trust
Branding
the process of using brands elements to differentiate goods and services by providing images
Branding can be achieved through
-advertising and communications
-sponsoring and partnerships
-in store experience
-workshop
Benefits of branding to the firm
-Differentiate its offerings
-increase profits
-reduce advertising costs
-become a leader among the competitors
-safeguard its product features from counterfeiting
3 classes of branding
Consumer: brands for consumer use
Industrial brands: working in business-to-business
Private brands-produced by one entity and offered to consumers only through channels controlled by entity
brand elements
Visible aspects of brands, such as logos, symbol, color, style, slogan
A fashion brand
Any apparel, accessory, cosmetic, or nondurable home product offered for use, sale, or exchange that exhibits characteristics intended to identify and differentiate them from other similar goods and services
brand image
the sum of a consumer’s perceptions and feelings of a brand
user imagery
perceptions of the type of people who use the product or service
usage imagery
situations or lifestyles in which the brand is used
brand personality
human characteristics associated with a brand name
-A part of a symbolic nature of a brand image
brand personality traits
sincerity, excitement, competence, sophistication, ruggedness
brand equity
consumer subjective and intangible assessment of the brand and beyond its objectively perceived value. The power of brand lies in what consumer know about a particular brand
brand salience
consumers’ abilities to recognize, or have awareness of, any particular brand
How Fashion brands come about
Positioning: a brand
-Analyzing the target market
-Merchandising: A multistep process involving the sourcing, producing, distribution and preparing for wholesale and retail sale apparel products and other items for consumer use
mass production
the ability to make items in large numbers and consistent quality
Early Fashion Brands
Manufacturers sponsored products under their own names; became widely know as “as a manufacturer brand”
-The great recession in 1920
-Individuals retailers offered private brands to consumers
-Products of private brand were less expensive than products of manufacturer brands
Protection of consumer rights 1910-present
The Federal trade commission: Promotes consumer protection and prevention of anticompetitive business practices
-Ex: price fixing, group boy cots, exclusive dealing contracts and unfair trade association rules
-The food and drug Administration (FDA): protects and promotes public heath through the regulation and supervisions of food and medicine safety, tobacco products, medical devices, cosmetics and advertising
Wave 2 Mass marketing 1945-1980
A marketing strategy in which a firm decides to ignore market segment difference and appeal the whole market with one offer or one strategy which supports the idea of broadcasting a message that will reach the largest number of people possible
-Advertising was controlled by a few large networks
-Highlight product’s practical/dependable benefits
-Mega-brands dominate; lifestyle fashion brands are develop afterwards
