Week 3 Marketing Communication Strategy Based on Brand Evaluation + Positioning Flashcards
Define Brand.
Name, term, symbol, design, or combination that identifies a seller’s products and differentiates them from competitor’s products.
Define Brand name.
Part of a brand that can be spoken, including letters, words, and numbers.
Define Brand mark.
Elements of a brand that cannot be spoken.
List the 3 forms of brand identification.
- Brand equity
- Global brand
- Brand loyalty
Define brand equity.
Value of a company or brand name.
Define global brand.
Brand that obtains at least one-third of its earnings from outside its home country.
Define brand loyalty.
Consistent preference for one brand over all others.
Define Individual branding.
Using different brand names for different products.
e.g. p&g
Define Family branding.
Marketing several different products under the same brand name.
e.g. Walt Disney
Define Manufacturer’s brand.
A brand owned by a manufacturer. Sometimes, manufacturer’s brand is interchangeable with national brand.
e.g. arnotts
Define National brand.
The brand name of a product that is distributed nationally under a brand name owned by the producer or distributor, as opposed to local brands (products distributed only in some areas of the country), and private label brands (products that carry the brand of the retailer rather than the producer.)
Define Private brand.
A brand owned by a wholesaler or a retailer. It is interchangeable with private label or store brand.
e.g. Coles
What are the Adv of Carrying Manufacturer’s brands?
- heavy consumer ads = customer loyalty
- attract new customers and enhance dealer’s prestige
- offer rapid delivery, enabling the dealer to carry less inventory
- loyalty to the dealer
What are the Adv of carrying Private brands?
- wholesaler/retailer can earn higher profits on its own brand
- private brand ties customer to a wholesaler/retailer
- wholesalers/retailers have no control over intensity of distribution of manufactures’ brands
- can become competitor to dealers
- can drop brand or a reseller at any time
List the 3 types of co-branding.
- Ingredient branding
- Cooperative branding
- Complementary branding
Define ingredient branding.
Identifies the brand of a part that makes up the product.
Define cooperative branding.
Occurs when 2 brands receiving equal treatment borrow from each other’s brand equity.
Define complementary branding.
Suggests usage by advertising and marketing products that are used together.
What does STP consist of ?
- Segment: group of potential customers
- Target: focus with advertising and integrated brand promo
- Positioning: attempt to give a brand a certain meaning relative to its competitors.
Define PPmRp.
- Positioning
- Perceptual mapping
- Repositioning
Define Positioning.
Influences potential customers’ overall perception of a brand, product line, or organisation in general
Define Perceptual mapping.
Means of displaying or graphing the location of products. brands, or groups of products in customers’ minds
Define Repositioning.
Changing consumers’ perceptions of a brand in relation to competing brands.
What are the essentials for effective positioning strategies?
- Deliver on promise - dominos
- Consistency - advertise same facts across all channels
- Simplicity and distinctiveness - USP
List positioning bases.
- Attribute - fast delivery/ green laser > red
- Price & Quality - aldi
- Use or application - easy (Apple)
- Product user - old spice (target mkt = male)
- Product class - tablet can function as laptop
- Competitor - burger king always compare w/ big mac
- Emotion - coca-cola always “deliver happiness”
Define Attitudes.
Learned predispositions to respond to an object linked to purchase decisions.
List the strategies to change attitudes.
- change strength/belief rating about an impt attribute
- change perceptions of impt of an attribute
- add a new attribute to the attitude formation mix
- change perceptions or belief ratings about a competing brand
