Unit 9 Flashcards
Memorise
It is the process of creating a name, symbol or design that idwntifies and differentiates a product from other products
Branding
What are the features of branding?
- Awareness
- Targetable
- Loyalty
- Consistency
Refers to the number of people who know the brand
Awareness
The branding of products should be planned in relation to the target market
Targetable
An achievement for a business, consumers prefer using certain brands
Loyalty
A brand must be consistent
Consistency
Advantages of branding?
- Customer recognition
- Competetive edge in the market
- Easy introduction of new products
- Enhanced credability and ease of purchase
Types of brand names
- Descriptive
- Evocative
- Invented
- Lexical
- Acronym
- Geographical
- Founder
Readily convey the products or services offered bt the business, it leaves little room for creativity on the part of the brand and interpretation on the part of the audience
Descriptive
Usually very creative singular words that act as a powerful differentiator in the industry
Evocative
Are not only descriptive but also articulate and offer creative names with attitude for a brand. Most of the time latin or greek words are used to create a brand name
Invented
An acronym of the entire name of the business, which might be difficult to pronounce.
Acronym
Includes geography or territory in wbich the business operates.
Geographical
Business names are also associated with the names of their founders.
Founder
Trademark devices that identify and differentiate the brand name from its competitors
Brand elements
Brand elements
- Brand name
- Brand logo
- Brand symbol
- Brand charcter
- Brand slogan
A plan composed of long term goals that arw achieved through the development of a successful brand
Branding strategies
Branding strategies
- Umbrella branding
- Individual branding
- Attitude branding
- No brand branding
- Brand extension
- Private labels
- Crowdsourcing
Criteria for choosing a brand name
- Distinctiveness
- Word association
- Legal requirements
- Memorability
- Pronounceability
- Limitations
Steps for a successesful brand building process
- Determine the target audiemce
- Define the brand mission
- Research competition
- Determine the background
- Market the brand
Rhe manner of protecting the intellectual property of the business and thwir associated brands against abuse
Brand protection
Term used to cover the malicious activity of exploiting an existing brand to gain specific benefit
Brand abuse
Recognizable word, symbol or phrase that legally differentiates the product from others
Trademark
Gives the business owner the right to prevent others from using or exploiting the mark in any way
Phillipine trademark association
Startegy that involves naming related products under the same brand name of the business.
Umbrella branding
A strategy in which a product is given a brand name that is newly created and is not connected to the names of existing brands offered bt the business.
Individual branding
A strategy where a business chooses to represent a feeling that does not have a direct connection to the product
Attitude branding
A strategy that features a product that is simple and generic in design
No brand branding
Occurs when one brand ventures into a new market
Brand extensions
Also known as store brands, have become popular in supermarkets. Cost effective brands made to compete with larger retailers.
Private lables
A strategy in which branding is outsourced to the public and allows customera to be involved in the naming process, which effectively drives up personal interest in the product
Crowdsourcing
