Glossery Flashcards
The commercial value of a brand provides to a firm through its effects on the attitudes and behaviors of its stakeholders
Brand equity
A name, symbol or design that identifies a product, service of entity from others
Brand identity
A set of associations attached to a brand identity in the minds of its stakeholders
Brand image
The customer value proposition or benefits communicated by the brand to the customer and/or consumer
Brand promise
This answers the question of why a brand exits with respect to the positive difference it aims to make in peoples lives
Brand purpose
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)
Brand valuation
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.
Brand value
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.
Branding
A person or entity that makes use of a good or service
Consumer
The tone and way in which things are done around the organization
Culture
A person or entity that purchases goods or services
Customer
The differential effect of brand knowledge on consumer response to the marketing of the brand
Customer-based brand equity
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
Customer/consumer experience
The mapping of the customer experience across all touchpoints between the customer and/or consumer
Consumer/customer journey
The sum total of benefits which a seller promises a customer will receive in return for the payment or other value transfer
Customer value proposition (CVP)
relevant associations or the net value of customer perceptions of a brand, product, or service that sets it apart from the compeition
Differentiation
The value a brand provides to a firm through its effects on the attitude and behaviors of its employees
Employee-based brand equity
The process by which employees learn about, commit to and are motivated an enabled to deliver the proised brand experience to customers and consumers
Employee branding
The benefits promised by an organization in return for the talent, experience and engagement employees bring to the organization
Employee Value Proposition (EVP)
The image of an organization as a great place to work in the minds of potential and current employees
Employer brand
The perceptions of an event, episode or encounter that leave an impression
Experience
A non-physical asset such as a patent, trademark, or goodwill recognized in business combination
Intangible asset
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?
Mission statement
The future cash receipts associated with an investment, discounted by a specified rate of return
Net Present Value (NPV)
The strategic intent (aim) or design for a differentiated brand image within a specific target audience
Positioning
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
Royalties
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
Sales funnel
A distinctive mark or feature particularly characteristic of or identified with a person or thing
Trademark
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
Values
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
Vision statement
