Final Exam Flashcards
Is a name, term, sign, symbol, design, or a combination of these, which is used to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors.
Brand
What are the 4 ages of global branding?
Age of identity, Age of value, Age of Experience, Age of “Self”
What are the functions of branding?
Creates identification (positioning) and brand awareness.
Guarantees quality and satisfaction = brand loyalty
Promotes the product
Name the 3 types of brands
National Manufacturer Brands
Retailer Brands
Generics
The act of designing the company´s offer and image so that it occupies a distinct and valued place in the target customers mind.
Brand Positioning
Name the 5 brand elements
Brand Names and URLs
Logos and Symbols
Characters
Slogans and Jingles
Packaging and Signage
Captures the central theme or key associations of a product
Brand Name
Short phrases that communicate descriptive or persuasive information about the brand
Slogans
Musical messages written around the brand
Jingles
Capture human or real-life characteristics of a brand.
Characters
What are the 6 brand element choice criteria?
Memorable, Meaningful, Appealing, Protectable, Adaptable, Transferable.
What does it means for a brand to be memorable?
To be easily recognized, and easily recalled
What does it means for a brand to be meaningful?
To be descriptive and persuasive
What does ti means for a brand to be appealing?
To be fun, interesting, aesthetically, with rich visuals and verbal imagery
What does it means for a brand to be protectable?
To be legally, competitively
What does it means for a brand to be adaptable?
To be flexible and updateable
What does it means for a brand to be transferable?
Within and across product categories, and across geographical boundaries and cultures without issues.
Advantages and Disadvantages of Brand Names element
Advantages: the anchor, quick and easy to process and recall.
Disadvantages: Difficult to change, globalization issues.
Advantages and Disadvantages of Characters element
Advantages: Rich meaning, attention-getting
Disadvantages: Can get outdated. Global transfer
Advantages and Disadvantages of Logos and symbols element
Advantages: Attention-getting. Can reinforce associations. Global transfer.
Disadvantages: Can get outdated. Can be ambiguous / misinterpreted
Advantages and Disadvantages of Slogans and Jingles element
Advantages: Can be highly memorable. Cathy. Convey meaning.
Disadvantages: Difficult to translate. Musical taste differences.
Advantages and Disadvantages of Packages element
Advantages: Recognition, Convey info and meaning.
Disadvantages: Production issues. Channel concerns
What are the 7 types of brand names?
Descriptive
Metaphor
Surname
Arbitrary
Altered
Blended
Invented
Type of brand name that describes the product or service
Descriptive
Type of brand name that represents attributes or symbolism
Metaphor
Type of brand name that’s a person´s name
Surname
Type of name that uses real words with no obvious brand association
Arbitrary
Type of brand name that uses fiction words based on real worlds.
Altered
Type of brand name that uses two word merged
Blended
Type of brand name that uses nonsense words, not based on real words
Invented
The overlap consumers need product qualities, and brand strengths
Consumer-based Insight
Attributes or benefits that are not necessarily unique to the brand, but may in fact be shared with other brands
Points of Parity (Similarity) POP
Attributes or benefits that consumers believe that they could not find to the same extent with a competitive brand
Points of Difference (POD)
Portrays a target market’s most relevant brand associations (attributes) and consumer responses
Mental Map
Difference between brand slogan and brand mantra
A brand manta is the brand essence or core for INTERNAL TEAMS.
Formula to get the brand value
Financial value X Brand contribution = Brand Value
Is the monetary value of a brand in terms of net revenues the brand is expected to generate over time, across all country markets.
Financial Brand Equity
Focuses on the differential effect of a brand on consumer response. It contains behavioral and image components.
Customer Brand Equity
Is related to the strengths of the brain in consumers memory
Brand awareness / salience
Consumer´s ability to correctly discriminate the brand as having been seen or heard before
Brand recognition
Consumer´s ability to retrieve the brand from memory when given the product category, the needs fulfilled by the category, a purchase or consumption situation.
Brand recall
The way in which a product or service attempts to meet customers functional needs
Brand Performance
The way in which a product or service attempts to meet customer´s psychological or social needs.
Brand Imagery
Customers´personal opinions and evaluations of the brand, based on the different performance and imagery associations.
Consumer Judgements
Emotional responses and reactions with respect to a brand.
Consumer Feelings
Extent to which customers feel in sync with the brand
Consumer Resonance
Reasons for a brand to go global
Competitors are expanding
Economies of scale
Internet and Global outsourcing
Access to Resources
Marketing activities coordinated and integrated across multiple country markets.
Global Marketing
Markets in which buyer preferences are similar across countries
Global Markets
