lecture 6 - branding

Question 1

what is a brand? (David Oglivy 1999)

Answer 1

The intangible sum of product attributes: its name, packaging, and price, its history, its reputation and the way it advertised

Question 2

what is a brand? (Friedlein 2011)

Answer 2

The sum total of how someone perceives a particular organisation, and branding is about shaping that perception

Question 3

what is a brand? (Kotler 1997)

Answer 3

A name, term sign, symbol or design or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition

Question 4

what is a brand? (American Marketing Association)

Answer 4

A customer experience represented by a collection of image and ideas, often it refers to a symbols such as name, logo, slogan and design schemes

Question 5

what is personal branding? (Cederberg, 2017)

Answer 5

Active process of synthesizing and packaging a personal brand to target customers, prospective employers, and an online network of colleagues

Question 6

what is personal branding? (Khedher, 2015)

Answer 6

“planned process in which people make efforts to market themselves”

Question 7

what is personal branding? (Evans, 2017)

Answer 7

“how we want to be perceived by employers, potential employers, clients, professional peers, and others in a way that will boost short- and long-term career prospects”

Question 8

what is the role of branding?

Answer 8

company brand roles
generate profit
designate legal ownership
attract and retain talent
guide behaviour

consumer brand roles
identifiers
reduce risk
build self-identity
aspirational devices

Question 9

what are types of brand elements

Answer 9

brand name
URL
logo and symbol
character
slogan
jingle
packaging

Question 10

what is involved with brand name?

Answer 10

-captures the central theme or key associations of a product in a very compact and economical fashion
- most difficult element for marketers to change
- closely tied to the product in the minds of consumers
- naming guidelines
- naming procedures

Question 11

what is the URL (uniform resource locator)?

Answer 11

• specify locations of pages on the web
• known as domain names
• protect the brands from unauthorized use in other domain names
• cybersquatting - registering, trafficking in, or using a domain name with bad-faith to profit from

Question 12

what are logos and symbols?

Answer 12

• indicates origin, ownership, or association
• ranges from corporate names or trademarks written in a distinctive form, to abstract designs that may:
• be completely unrelated to the corporate name or activities

Question 13

what is character?

Answer 13

• special type of brand symbol
• one that takes on human or real-life characteristics
• introduced through advertising and can play a central role in ad campaigns and package designs

Question 14

what are the types of brand character?

Answer 14

excitement - carefree spirited youthful brand

rugged - conveys the roughness and toughness of a brand offerings

competence - signifies attributes of successful, reliable, and intelligence

sophistication - depicts factors of elegance, luxury, upper class, and prestige

Question 15

what are slogans

Answer 15

-short phrases that communicate descriptive or persuasive info about the brand
- function as useful “hooks” or “handles” to help consumers grasp the meaning of a brand
- indispensable means of summarising and translating the intent of a marketing program

Question 16

what are examples of slogans?

Answer 16

just do it - nike
think different - apple
every little helps - tesco

Question 17

what are jingles?

Answer 17

• musical messages written around the brand
• have catchy hooks and choruses that become permanently registered in the minds of listeners
• enhance brand awareness by repeating the brand name in clever and amusing ways

Question 18

what is packaging and why is it important?

Answer 18

• activity of designing and producing containers or wrappers
• from the perspective of both the firm and consumers packaging must:
• identify the brand
• convey descriptive and persuasive info
• facilitate product transportation and protection
• assist in at-home storage
• aid product consumption

Question 19

what is the criteria for choosing brand elements?

Answer 19

1. memorable
   easily recognised and recalled
2. meaningful
   descriptive
   persuasive
3. likeable
   fun and interesting
   rich visual and verbal imagery
   aesthetically pleasing
4. transferable
   within and across product categories
   across geographic boundaries and cultures
5. adaptable
   flexible
   updatable
6. protectable
   legally
   competitively

Question 20

what is the network model of memory?

Answer 20

In associative network models, memory is construed as a metaphorical network of cognitive concepts (e.g. objects, events and ideas) interconnected by links (or pathways) reflecting the strength of association between pairs of concepts.

when two things (“bacon” and “Eggs” for example) are thought about simultaneously, they may become linked in memory. Subsequently, when one thinks about bacon, eggs are likely to come to mind as well

Question 21

what is a brand asset?

Answer 21

A brand’s identity comprises many different elements, but not all of them have the same value. There are elements within your brand’s identity that are brand assets and they are the key to evolving your brand to create breakthrough, while ensuring you do so in a relentlessly consistent manner.

Question 22

what are the two qualities of a brand element that distinguish it as an asset?

Answer 22

a brand asset must be distinctive or ‘owned’ by the brand. This means that consumers unmistakably link that asset with the brand. The impact of a distinctive brand asset is that it attracts attention and drives recognition amidst the flurry of competing messages in communications or variants on shelf. Consumers see the asset and use it as a ‘mental shortcut’ to identify the brand.

a brand asset must be relevant. This means that the asset reinforces and amplifies brand’s promise. As the asset is iterated consistently across multiple touch points, it reinforces the mental structures that consumers have associated to the rational and emotional benefit the brand promises. This creates another ‘mental shortcut’ - one that reminds consumers of how the brand makes them feel and thus they are more likely to add it to their consideration set, pick it up off the shelf and possibly buy it.

Question 23

what are visual brand assets?

Answer 23

logo
main logo & variations
- memorable
- not trendy
- makes impression

colours
colour scheme & complements
- no more than 4 main colours
- consider colour psychology
- complementary palettes

fonts
fonts & typography
- don’t be too trendy
- use a good font combination
- use at most 3 fonts

visuals
photography & other visuals
- stick to your brand colours
- outsource original material

Question 24

what is brand awareness?

Answer 24

the extent to which consumers are familiar with the qualities or image of a particular brand of goods and services

Question 25

what is brand recognition?

Answer 25

the extent to which a consumer can correctly identify a particular product or service just by viewing the product or service’s logo, tag line, packaging or advertising campaign. Brand recognition can also be triggered via an audio cue, such as jingle or theme song associated with a brand.

Question 26

what is brand recall?

Answer 26

also known as unaided recall or spontaneous recall, is the capacity consumers have to remember brand names with the little prompting. Strong brand recall can translate to valuable brand equity, where a famous brand name leads to increased market share because they’re at the top of customer’ minds.

Question 27

what is brand image?

Answer 27

• brand image is the customer’s perception of our brand based on their interactions
• it can evolve over time and doesn’t necessarily involve a customer making a purchase or using our product or service
• since customers can have different opinions of our brand, it’s important to maintain a consistent brand image

Question 28

what is brand equity?

Answer 28

brand equity refers to a value premium that a company generates from a product with a recognisable name when compared to a generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognisable, and superior in quality and reliability

Question 29

what is Keller’s brand equity model?

Answer 29

Keller’s model explains brand awareness as a pyramid starting from brand identity (answering “who are you” and ending with “resonance”, the stage where customers have a sufficiently positive brand experience that they are ready to advocate for it.

brand loyalty: resonance - customers become advocates

brand response - what do customers think/feel about you?

brand meaning - what are you?

brand identity - who are you?

Question 30

how does brand equity impact return on investment (ROI)?

Answer 30

order value per customer
If our brand has positive brand equity, people are more likely to spend more money to purchase those products. This results in higher profit margins. It may cost companies the same amount as competitors to make a product. However, consumers are willing to pay for the brand name - For example, a pair of designer shoes may be worth more to consumers as opposed to those of a lesser known or generic brand.

A Better Reputation Means Less Ad Spend
If your products has a good reputation, people will seek you out as their go-to brand. This results in less money being spent via advertising and leads to increased sales when you launch a new product due to established trust.

Question 31

how does brand equity impact ROI cont.?

Answer 31

customer lifetime value:
If customers are loyal to a brand, they will purchase more from us. Apple is regularly regarded as one of the organisations with the highest brand equity. Apple users tend to own other Apple products, while Android users do not generally have a loyalty to a specific PC technology provider.

customer loyalty:
customers are 7 times more likely to forgive brands they are loyal to for mistakes. Additionally consumers are 9 times more likely to try new products from brands they are loyal to

stock price:
strong brand equity can increase stock market process for the organisations, out of the expectation that it will continue to perform

Question 32

what is Aaker’s brand equity model?

Answer 32

Brand awareness: how much is your brand known

perceived quality: why is your brand chosen

brand associations: what do people think of your brand

proprietary assets: trademarks, patents and assets that add value

brand loyalty: how much is your brand preferred

Question 33

what is brand personality?

Answer 33

this refers to a set of human characteristics that are attributed to a brand name. An effective brand increases its brand equity by having a consistent set of traits that a specific consumer segment enjoys.
This personality is a qualitative value-add that a brand gains in addition to its functional benefits. As such, a brand personality is something to which the consumer can relate

Question 34

what is a brand community?

Answer 34

a brand community is a specialised, non-geographically bound community, based on a structured set of social relations among admirers of a brand (Albert M. Muniz and Jr. Thomas C. O’guinn, 2001)