Glossery

Question 1

The commercial value of a brand provides to a firm through its effects on the attitudes and behaviors of its stakeholders

Answer 1

Brand equity

Question 2

A name, symbol or design that identifies a product, service of entity from others

Answer 2

Brand identity

Question 3

A set of associations attached to a brand identity in the minds of its stakeholders

Answer 3

Brand image

Question 4

The customer value proposition or benefits communicated by the brand to the customer and/or consumer

Answer 4

Brand promise

Question 5

This answers the question of why a brand exits with respect to the positive difference it aims to make in peoples lives

Answer 5

Brand purpose

Question 6

The Next Present Value (NPV) of future cash flows stemming from the brand as an intangible (separable) asset, for example, as estimated n the avoided royalty payments through ownership of a trademark and associated intellectual property (e.g. brand guidelines)

Answer 6

Brand valuation

Question 7

The incremental Net Present Value (NPV) of future cash flows stemming from a branded compared an unbranded business and product via its effect on all stakeholders (e.g. customers, employees, suppliers, financiers, channel partners, etc. In simpler terms, what deploying the brand is worth to management, the bottom line, and shareholders.

Answer 7

Brand value

Question 8

The creation of names, symbols, characters, and slogans that (1) help identify a products and (2) create unique positive associations that differentiate it from the competition by (3) creating additional meaning (value) in consumers’ minds.

Answer 8

Branding

Question 9

A person or entity that makes use of a good or service

Answer 9

Consumer

Question 10

The tone and way in which things are done around the organization

Answer 10

Culture

Question 11

A person or entity that purchases goods or services

Answer 11

Customer

Question 12

The differential effect of brand knowledge on consumer response to the marketing of the brand

Answer 12

Customer-based brand equity

Question 13

A customer’s and/or consumer’s holistic perception of their interactions with an organization and its products and services over the duration of their relationship

Answer 13

Customer/consumer experience

Question 14

The mapping of the customer experience across all touchpoints between the customer and/or consumer

Answer 14

Consumer/customer journey

Question 15

The sum total of benefits which a seller promises a customer will receive in return for the payment or other value transfer

Answer 15

Customer value proposition (CVP)

Question 16

relevant associations or the net value of customer perceptions of a brand, product, or service that sets it apart from the compeition

Answer 16

Differentiation

Question 17

The value a brand provides to a firm through its effects on the attitude and behaviors of its employees

Answer 17

Employee-based brand equity

Question 18

The process by which employees learn about, commit to and are motivated an enabled to deliver the proised brand experience to customers and consumers

Answer 18

Employee branding

Question 19

The benefits promised by an organization in return for the talent, experience and engagement employees bring to the organization

Answer 19

Employee Value Proposition (EVP)

Question 20

The image of an organization as a great place to work in the minds of potential and current employees

Answer 20

Employer brand

Question 21

The perceptions of an event, episode or encounter that leave an impression

Answer 21

Experience

Question 22

A non-physical asset such as a patent, trademark, or goodwill recognized in business combination

Answer 22

Intangible asset

Question 23

A simply written statement of the current business purpose to provide direction and guide decision making: what business are we in, i.e., what do we aim to provide for our customers and other stakeholders?

Answer 23

Mission statement

Question 24

The future cash receipts associated with an investment, discounted by a specified rate of return

Answer 24

Net Present Value (NPV)

Question 25

The strategic intent (aim) or design for a differentiated brand image within a specific target audience

Answer 25

Positioning

Question 26

Rent-like payments made to the legal owner of a brand (or other asset) by those who wish to make use of it, for example, to generate revenue

Answer 26

Royalties

Question 27

The visual representation, in the form of an inverted funnel or pyramid, of the customer relationship with a brand, products or service ranging from “customer states” such as awareness, to consideration, to trial, repeat purchase, to adoption, or other sales outcomes such as up-selling and cross-selling

Answer 27

Sales funnel

Question 28

A distinctive mark or feature particularly characteristic of or identified with a person or thing

Answer 28

Trademark

Question 29

These describe your desired culture and can be “whos value” that describes the organization’s character or spirit, often anchored in its heritage; what or “end” values that link to the organizational purpose; and how or “mean” values that are a code of behavior that defines the manner in which the organization intends to accomplish its aims, the emphasized norms, principles, or common set of beliefs

Answer 29

Values

Question 30

Based on the organizational purposes, this describes why a business is doing what it is doing and where a well-executed mission will take them. Best done as an inspiring image of a possible and desirable future state, in order to unite and inspire all stakeholders

Answer 30

Vision statement