2.07 Brand Marketing Vocabulary Terms
Mission Statement
A brief summary of what a business owner wants a business to be doing.
Brand Promise
A business's agreement (spoken or unspoken) with customers that it will consistently meet their expectations and deliver on its brand characteristics and values
Brand Symbol
A business's distinctive logo, design, or group of letters that cannot be spoken but are used to establish brand identity; often used in conjunction with a brand name.
Warranty
A promise made by the seller to consumer that the seller will repair or replace a product that does not perform as expected.
Guarantee
A promise made by the seller to the consumer that the seller will refund the consumer's purchase price if the product doesn't perform as expected.
Product Recall
A request to return to the maker a batch of products or an entire production run of a product due to safety issues.
Vision Statement
A summary of what a business owner wants a business to become.
Expressed Warranty
A written warrantee expressed in a specific statementconcerning the quality of the product. (can be oral or written statement)
Touch Points
All oppportunities which businesses have to connect with customers and reinforce their brand value.
Brand
All the combined impressions and experiences associated with a particular company, good, or service.
Implied Warranty
An unwritten warranty unstated because it is understoodby both the consumer and the seller that the product will perform as expected. Ex. A toaster should toast.
Core Values
Brand values and beliefs or qualities that a brand stands for and is built around.
Brand Loyalty
Customers' allegiance and loyalty to a particular brand.
Selling Policies
Guidelines for selling in an organization. How products will be sold.
Service Policies
Guidelines for servicing customers.
Trademark
Legal method for protecting brands from misuse externally; represented by the registration mark or TM trademark.
U.S. Patent and Trademark Office
Office of the federal government responsible for issuing, administering, and enforcing U.S. patents and trademarks.
Grades
Ratings assigned to products that tell to what extent standards were met.
Standards
Specifications that are used as a basis for comparing or judging goods or services.
Brand Name
That part of the brand identity that can be spoken, including words, phrases, letters, numbers, or any combination of these.
Brand Champion
The person in a business who is responsible for making the brand come alive and for sustaining it; usually the business owner, president or CEO.
Limited Warrany
This warranty covers only certain repairs or parts.
Full Warranty
This warranty covers the ENTIRE product.
Brand Identity
Those elements that are instantly recognized as representing a particular business or product.
Terms-of-the-sale Policies
What conditions apply to each type of sale.