Midterm Flashcards
Recognition
remembering a past exposure to the brand
Recall
product/brand comes to mind when category is discussed
brand name dominance
only brand name consumer thinks of in particular category, name becomes synonymous with category
perceived quality
- unrelated to actual quality and success in market place
- only perceived quality has positive impact on performance
- specialisation leads to higher perceived quality
brand loyalty
it is more efficient to keep an existent customer than get a new one
loyalty segmentation
not fans, don't buy price switchers passively loyal , habit not reason fence sitters , always between two committed
Brand association
anything consumer may associate with a a particular brand
Law of Shape
Logotypes help define brand fromm distance
horizontal works best cause eyes are side by side
- legibility more important than creativity!!
- symbols are good but rarely more important than name, except Nike
Law of Color
there are 5 basic colours
- red
- blue
- orange
- green
- yellow
be opposite of competitor
- red light moves towards you (retail, inviting), blue moves away (corporate)
Brand Essence
heart and soul
no more than 7 sevens, can be 3
reminder to company themselves!
Brand Promise
last part of positioning statement
unique benefit offered
Benefit
Emotional
Functional
Self - Expressive
must be meaningful to target
must be able to deliver
competition must not do same thing
Frame Reference
Competitive Framework
who are obvious competitors
who are not so obvious
what could make product obsolete
How de we fail!
Brand personality
the stronger the brand, the more defined the personality
is brand:
trustworthy, reliable, likeable, admirable, authentic, relevant, hones, innovative, popular, appealing
Brand Identity
unique set of brand associations that a product wants to create or maintain
“up to now mostly internal, must now develop what we want our customer to think or feel about us”
12 dimensions, 4 perspectives
Brand Image
what customers currently think about us
Brand Identity perspectives
brand as:
- product
- organisation
- person
- symbol
Branding
art of creating differentiation from other products that you compete against(the process)
Brand Equity
total commercial value of brand based on all associations and expectations over a period of time
Brand Attributes
what makes product different
usually product related attribute
results in product benefit!! emotional, functional, self expressive
if brand solely build on attribute, you risk being challenged by competition.
“dimensionalize brand in order to insulalte it!”
Quality
doesn’t matter, only perceived quality does.
brand as personality
helps dimensionalize beyond benefits
people relate own personality traits to brands
people sometimes form relationships with brands
Brand as symbol
can help with recognition and recall
Brand Identity structure
- Core identity, consistent meaning (“soul”) of brand
- Extended Identity, everything added for texture and completeness
- value proposition, combination of functional, emotional and self expressive benefits that drive purchasing decision
Functional Benefit
measurable
product attribute that provides functionality
Emotional Benefit
When purchase of brand give buyer good/positive feeling, there is an emotional benefit provided.
add richness and depth to the experience of using the brand.
Self Expressive Benefit
fulfilling need of self expression through purchase
hip by buying a&f
successful by driving mercedes
nurturing by serving cheerios
Self expressive and emotional benefits often overlap
key difference:
- public setting, must be seen by others
- aspirational and about future
role of Price in value proposition
it is our job as marketers to drive brand equity via benefits and not price!
can bring down
can bring up, Nordstrom
Benefits, Models and 5 personality factors
functional -> functional benefit presentation model emotional -> relationship basis model self expressive -> self expression model 1. sincerity 2. ruggedness 3. excitement 4. competence 5. sophistication
Moving from awareness to insistence
5 factors: brand awareness accessibility value relevant differentiation emotional connection
Accessibility
must be accessible
convenience is key
however:
exclusivity and scarcity can stimulate demand
product characteristics can be boring so we
add personality
self expression model
brand becomes vehicle to express part of self identity
relationship basis model
interaction between you and the brand is a comfortable and sorted out relationship
if your brand could speak,
what would it say to you ?
functional benefit model
brand identity cues the functional benefit
brand essence -> positioning -> benefit -> personality
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