Fundamental Concepts (Positioning, identity, awareness, equity)

Question 1

What is brand awareness?

Answer 1

A gut feeling about a product/service/company.

Question 2

What are the two dimensions of brand awareness?

Answer 2

Depth and breadth

Question 3

What are the two dimensions of awareness depth?

Answer 3

Brand recall - The ability to generate the brand from memory when seeing a cue.
&
Brand recognition - The ability to identify the seen brand.

Question 4

On which two dimensions does brand equity occur?

Answer 4

Financial equity (the financial value created, i.e. being able to charge more because it’s a Weber BBQ)
&
Consumer-based equity (The differential effect the consumer brand knowledge has to the response to the brand’s marketing)

Question 5

What does Aaker’s brand equity model consist of?

Answer 5

-B-loyalty, B-Awareness, Perceived quality, B-associations, other proprietary assets.

Question 6

What are the four factors which influence consumer buying behavior?

Answer 6

• Cultural (Class, subcultures)
• Social (Roles, status, reference groups)
• Personal (Age, occupation, economic circumstances, personality
• Psychological (motivation, perception, attitudes)

Question 7

What is brand identity?

Answer 7

The owner’s intention of what the brand should be. This is forward-looking and company oriented.

Question 8

What is brand image?

Answer 8

The consumer’s perception of the brand, reflected by the associations in the memory. “What has the brand done so far?” This is backwards-looking and consumer oriented.

Question 9

What are the 4 things that a good segment has to be?

Answer 9

• Identifiable (distinguishable)
• Substantial (allowing for continuous, good sales)
• Accessible (targetable)
• Stable (predictable)

Question 10

On what 3 assessments can you base the choice of positioning the brand?

Answer 10

• Customer assessment
• Competitor assessment
• Company assessment

Question 11

What 4 things should be included in the positioning statement?

Answer 11

• The target consumer
• Frame of reference
• Point of difference
• Reason to believe

Question 12

What are the 4 archetypes which you can target, and what is the positioning related to each archetype?

Answer 12

• Extroverted: Progressive, inventive
• Assertive/individualistic: Dynamic, forceful
• Affiliate/friendly: Accessible
• Introverted: traditional, reliable

Question 13

What can you target, except for archetypes?

Answer 13

Basic human needs

Question 14

What is a brand promise communicating?

Answer 14

What value the product creates.

Question 15

What is a brand purpose communicating?

Answer 15

What the reason is for the product to exist.

Question 16

What are the 3 key things that a brand promise communicates?

Answer 16

• What it is
• What it does
• Why it matters

Question 17

What is a good component to use in the purpose/promise communication?

Answer 17

The core brand values, influenced by the identity and positioning.