Week 7 - Telma case on branding Flashcards

1
Q

Define a brand.

A

Something that has created awareness, reputation, and prominence in the marketplace.

Brand adds value to a product by giving it an image, personality, quality or distinct character.

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2
Q

There are 3 main brand hierarchies.

A
  1. Branded house
  2. House of brands
  3. Hybrid
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3
Q

The elements of brand equity are?

A
  1. Brand awareness

2. Brand image

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4
Q

What does brand awareness consist of?

READ ON LMS EXAMINABLE

A
  1. Recognition

2. Recall

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5
Q

What does brand image consist of?

A
  1. Strength of brand association
  2. Favourability of brand association
  3. Uniqueness of brand assocation
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6
Q

Can you think of instances when firms may not want to get any exposure/awareness for their brands?

A

Thai airways after they crash? - bad PR effort.

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7
Q

What is awareness?

A

It is only the first step in creating brand equity. One brand awareness has been established, marketers are concerned with brand image.

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8
Q

So what does brands have in common with conductors/

A

How to compete. -> 4ps

Brand dictates all 4 ps.

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9
Q

What happens to (high end) products without a conductor?

A

e.g. famous violinist busking but no one cared because they weren’t told to. they didn’t pay 200 pounds. lol.

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10
Q

Can be brands good?

A

A good brand is simply a brand that is strong and popular.

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