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Calime
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Meaning of Brand Management
- Brand
- Mark
- Name
- Trademark
- Copyright
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Benefits of Branding
- Consumer
- - Easier product identification
- - Communicates features and benefits
- - Helps product evaluation
- - Reduces risk in purchasing
- - Creates Interest / character
- Manufacturer
- - Help create loyalty
- - Creates differential advantage
- - Allows premium pricing
- - Facilitates product diversification
- Retailer
- - Benefits from brand marketing support by manufacturer
- - Attracts customers
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Branding Decisions
1. Types of Brands
Manufacturer / Retailer
Generic
Family / Individual
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Branding Decisions
2. Brand Extension
Can be extended once successful
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Branding Decisions
3. Selecting a Brand name
- 1. ID product benefits
- 2. Easy to pronouce, recognise & remember
- 3. Original & Distinct
- 4. Unique image of exclusiveness
- 5. Indicate High Quality
- 6. Versatile & applicable to product line
- 7. Translate into foreign language
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BRAND EQUITY
BRAND AWARENESS
PERCEIVED QUALITY
BRAND LOYALTY
BRAND ASSOCIATION
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BRAND EQUITY
BRAND AWARENESS
Competitve advantage for marketer
- Sense of familiarity
- Name awareness signal of presence, commitment & substance
- Salience of brand - determine if recalled at purchase time
- Asset - durable - difficult to dislodge
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BRAND EQUITY
PERCEIVED QUALITY
Brand asset due to ?
- Drives financial performance
- Major strategic thrust of products
- Linked to & drive other aspects of how brand is perceived
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BRAND EQUITY
BRAND LOYALTY
Competitive advatage for organisations
- Reduces marketing cost of doing business
- Entry barrier for competitors
- Image of brand - accepted, successful
- Time to respond to competitive moves
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BRAND EQUITY
BRAND ASSOCIATION
Can increase value of brand - association with quality, reliability
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BRAND POSITIONING & IMAGE
Positioning Methods
- ABC PQUU
- ATTRIBUTE
- BENEFIT
- USE / APPLICATION
- USER
- COMPETITOR
- PRODUCT CATEGORY
- QUALITY / PRICE
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