Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Year 1 - Introduction to Marketing > week 11 > Flashcards

week 11 Flashcards

1
Q

positioniing statemtn

A

brief desctiption of prodcut or sefice and expantino how it fulfills particular need of target maekeet

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

what is goal of position statemtn

A

align markeitng efforts w a commpanys brand and value propostiion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what is purpose of positionig statemtn

A

convey brands value propstion to its ideal customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

psiiton statement v missinos stateme

A

MS - purpose bs serves in mkt , anchor that guides eery uisiness function

MS - answers why awhils pisitonig answers what

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

value propoisiton v positiongi statemnt

A

vlaue propositon -describes what sets product or serviec apart from competitors

gives overview of beefits product or service offer

more narrow and competiong orientated

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

wats order of mission statemtn positon and value

A

mission

position

value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

what shoud psoitingi statement include

A

who you serve - description of target market

what value you offer - target marekt needs

how you position your offer - how your bs will meet needs

why you’re in business - what diifferentiates p/s from competition

what makes you different from the competition - why consuemr in tm should believe brands claims

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

core elemtns of stragtegic marke positiong

A

tm /audience

market category

customer pains

brand promise

brand identity and values

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

what is a perceptual map

A

diagram mapping out what the customers thnk about your products and services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what is a psitoniig map

A

diagram compating the actua traits of a company andf its offerings

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

where should we avodi

A

areas you know what cosnuemr wants but competitor has got beter at this

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

what is a brand

A

distinctive feature liek a nam , term , design or symbol that idenitfies goods or services

anything you can legally protect , assocaited w company and adds to percetoin of company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

what is amrekting becoming

A

managmen process of adding , maintaing and enhancing symbolic meaning

tur

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what 3 things does a brand sreaggy have to have

A

brand name and logo

brand sponsorships

brand extensions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

brand name should indicate 1

A

benefits and cahracterstics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

brand name should be easy to 2

A

pronounce

recognise

remember

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

brand should be 3

A

distinctive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

brand name should be 4

A

extendable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

brand name should be easy to 5

A

transalte into toerh lanuages and be culturaly appropriate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

brand name should be capable of what protections

A

registration and legal protections

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

how can we check if a brand name is culturally appropriate

A

check w

local
mkt
consumers
agencires

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

how have brand names evolved 3 steos

A

from

quirky , memborable e.g. yahoo

to

trade mark proof made up names e..g astrazeneca and accenture

to

simple names w real meaning

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

what is bran dsponsorhsip

A

way we own the brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

in the traditional vew what are the 3/4 types of brand sponsorship

A

manufacturer/national brand

store/private brand

licensing

co branding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

what is manufacturer/national brand sponsorship

A

cadbury have own facturiers and producing own chocolate so sell under own branding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

what is store/private brand

A

store owned e.g tesco mily bar

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

what is licensicin brand ownership

A

e..g paying to be able to put something on a product e,g,g stranger things on a mug

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

what is cobranding and what is it not equal

A

lcnesicng

brands contribute equally to ifnal product -e.g. upside down whopper by burger king and stranger things

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

what is digital manufacturee/ national branf

A

nbc producing they’re own shows

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

what is digital store/private brand

A

having netflix orgiinals - just digitla version of store/private brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

what is ewhat is licensing digital version

A

nbc prodiugin own shows and licensing it to other platforms e.g. office on netgflix

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

what is brand extension

A

extending an existing brand name to new product categories

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

expland brand extensions i.e. taking your name thats recognisable

A

name recognisdasbel so create new product w simlar bransin so peopel are more liekly to biu it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

when will there be a faillure w brand extension

A

when you go for a product unrealted to what brand naem stands for

e.g. colgate toothpaste trying to step into colgate lasagne

failure - as there is not much link

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

whatare bands assessed on

A

brand equity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

what is brand equity formula

A

brand awareness + brand image

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

brand value and brand equity are not the

A

same

38
Q

what is brand value

A

finacial term - what we put on the financial shet

39
Q

How do we remeber brand value

A

value - numbers

40
Q

what is brand equity

A

how brand if percieved

41
Q

you cant have an opinion of brand if you dont know it x

A

exists

42
Q

brand awareness - depth

A

how easilt customers can recall or recognize brand

43
Q

brand awareness - breadth

A

the range of purchases and consumption situations where the brand comes to mind

44
Q

give example of brand w good breadth when we say fast food

A

mcdonalds

45
Q

when we say breadth how would we think about mcdonalds

A

sit in
order online
going w family
going when drink

46
Q

brand image

A

consumer interpreations of you company and its producs and services

set of mental representations both cognitive and affectrive , that a person or group of perople hold towards a brand

47
Q

brand image is a what type of assessment too

A

emotional

48
Q

trust is a concept so we are talking about

A

perceptions

49
Q

most trusted not the same as

A

most valued

50
Q

brand equity aka

A

the differntial effect brand name has on cusomrer repsonse to product or its marketing

51
Q

brand equity can be what or what

A

positive

or

negative

52
Q

when get rand equity when we have

A

brand awareness

53
Q

excplain the case where we haev negative bran dequity and hihg bran dvalue

A

bp negative brand equity

brand value v positive and hgh

54
Q

functio of brands w in companies - brands aare a source o what for commpany

A

value

55
Q

functio of brands w in companies whhy do analysts prefer companies w strong brands

A

they less risky

56
Q

functio of brands w in companies - brands provide potetnialf for future x and long term x

A

future provits

long term cashflows

57
Q

functio of brands w in companies - what do brands create between rival products

A

differential advantages between rival products

58
Q

functio of brands w in companies why can they charge premiu pricing

A

branc consciosu consuerms less price sesntives

59
Q

functio of brands w in companies brands helps secure what

A

shelf space - also in terms of distribution

60
Q

functio of brands w in companies how are brands a source of otalty

A

retentyion cheape rthna acquisition

61
Q

functio of brands w in companies - what do brand allow for

A

brand/line extensiosn - brand stretching

62
Q

expand on - functio of brands w in companies as a source of value - like how is it a source of value

A

recongisbale brand and psoitive bran deuqiyt - put on baalnce sheet , this is ipmportant for company growth, mergers and acquisitions

63
Q

what are teh 4 steps to building a brand

A

brand identity

brand meaning

brand relationships

brand repsonses

64
Q

what isbrand identity to do w - qhat s the uestipn

A

who are you

65
Q

what si brand ideentity similar to

A

missino statemt

what do you wanna do and what is the big thing you are addressing

66
Q

what is the question for brand meanig

A

what are you

67
Q

brand menaing is mroe ,, expan

A

more practical , what you actually doing

does brand explaina nd reflect your value peopeosiiton

68
Q

what is brand relationship

A

what kind of association an how much of a connection woudl customers liek to have w you

assocaiteion and connections customer make w brand

69
Q

what is brand repsonses

A

what does customer feel or thignk about you

feeligns customer have towards your brand

70
Q

brand meaning is made up of what 5 thigns

A

primary charactersitics and supplpemetary featurees

product reliability , durability and serviceabilitity

service effectveness , efficient and empathy

style and design

price

71
Q

brand identity is split into what and shoudl be relfective of what

A

values

mission

reflective of bigger goal

72
Q

how do we build a brand right side

A

we have brand awareness

the instil a perception of quality

then do a more complicated brand positioning

73
Q

how to build a brand left side

A

risk reduction

differentiation

relevance

esteem

emotinal brand

74
Q

why do brannds become weak

A

fall out of favour casue of social eprceptions

failure to innovate

75
Q

sowhat we know about brand and brand image is what for who

A

risk reduction for consumers

if dont know anything about phones and had to make decision purely on data - this si cognitive heavy

76
Q

what is relevance

A

whether brands relative to you or not as this is reduced cgnitive load

i,e, if dont care about cyber securtiy - so only looka t thing such as qual of camera

allows us to immeiatley sif tout brands

77
Q

expain differntiaion in - how to build a brand

A

when brand got strong image we can tell whihc is better and which we prefer

78
Q

what is esteem

A

gernal perception of a brrand

strong brands always have hgih esteem in a consumers mind

79
Q

what is emotional bond

A

cusotmer develops emotional bond w brand

usually dont knwo how they got to this poitn - from i like it cause of practical outcomes to i just like the brand thats in my mind

80
Q

what factor on teh left side of teh how to build a brand weak brand to strong brand is the jey and why

A

emotionalbond

as how we build the stronges custoemr loyalty and associatino - where we go from weak bran dto strong brand everyone knows

81
Q

functional v symbolic brand s

A

functinoal - fast moving consumer goods

symbolic - hgih dashion , like it casue o symbolism brand represents and you beloing to a certain type of consumer

82
Q

and emotional bran d is

A

about content and what makes you fell good

83
Q

whaat are the axis for functional v symbolic brand

A

high involvement - low invovlement

cognitive - emotional

84
Q

what is utlity brands

A

high involvement

cogntive

85
Q

what is functional brands

A

low involvemetn

cognitive

86
Q

what is symbolic brand

A

high involvment

emotionl

87
Q

what is emotinal brands

A

emotional

low involvement

88
Q

what shoud we do w utlity brajds

A

practical

advertise lots and more factual

adv on soecifc ffeature snad hihg utlity

  • amek this on cheat sheet
89
Q

a symbolic brand is about

A

status

perception

consumer lifestyle

90
Q

bruh right the importance bit on hte cheat sheet

A

week 11 lst slie

Year 1 - Introduction to Marketing (15 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions