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Pros of Individual Branding
Insulates products from failures of other brands
Maybe best if products vary widely in type,targeting, and/or quality
Cons of Individual Branding
By far the most costly and risky
May requires thatyou also build a“corporate brand”as well
Pros of Family Branding
By far the least expensive approach
Good if your products have a similar focus
Good for buildingBrand Equity for the Parent Company
Cons of Family Branding
Could lead to“Brand Dilution”'
Bad experience witha product in one area could negatively effect other products
Pros for Family-Endorsed Branding
Allows for building a separate identity with the added help of the family brand.
May allow for awider variety ofproducts with lessrisk of Brand Dilution
cons for Family-Endorsed Branding
More expensivethan family branding
Eight Steps of The Branding Process
- 1. Brand Architecture
- 2. Market Research
- 3. Positioning
- 4. Develop Brand Identity
- 5. Develop name, logo, & tagline
- 6. Launch your brand
- 7. Manage, leverage, & protect your brand
- 8. Realign your brand (if necessary)
The Brand Identity Statement
Defines what your brand stands for and serves as the steering wheel for your entire branding strategy.
Wraps together the company’s mission, value,and promise with the Brand Personality Statement, Positioning, and Targeting.
The Brand Identity Statement is the “Mission
Defining Your Brand-The Base
The Mission Statement
A statement of the organization’s scope, often identifying its customers, markets, products,technology, and values
Defines your company’s long-term aspirations
Summarizes the positive difference you deliver to all who deal with your company
Internally, your business promise should be included in your Product Innovation Charter(PIC)
Externally, it could be the basis of your tagline (in step 5)