Chapter 9 Marketing
manufacturer brand
A brand owned by a reseller or retailer
private label brand
A brand owned by a reseller or retailer.
intellectual property
A collection of non physical assets owned by an individual or company that are the result of innovation and are legally protected from being copied or used by unauthorized parties.
strong brand
A distinct position in consumers' minds based on relevant benefits and creates and emotional connection between businesses and consumers.
brand
A promise to deliver specific benefits associated with products or services to consumers.
brand alliances
A relationship short of a merger that is formed by two or more businesses to create market opportunities that would not have existed without the alliance.
digital brand strategy
A set of marketing activities that uses digital mediums to connect consumers to brands
channel
A system with few or many steps in which products flow from businesses to consumers while payments flow from consumers to businesses.
line extension
An addition to an existing product line that retains the currently utilized brand name.
brand personality
Characteristics that make a brand unique much like human personality.
channel switching
Creating new product distribution or moving the distribution flow of products from one distribution channel to another.
brand stretching
Extending a brand to new products, services or markets.
outsourcing
Procuring certain services from a third party supplier
brand protection
Securing the brand's inherent value, including its intellectual property.
co branding
The collaboration of multiple brands in the marketing of one specific product.
customer based brand equity
The differential effect that brand knowledge has on the customer response to marketing efforts.
brand loyalty
The extent to which a consumer repeatedly purchases a given brand.
brand positioning
The location that a brand occupies in the marketplace relative to the competitors.
cannibalization
The loss of sales of an existing product within a portfolio to a new product in the same portfolio.
category management
The management of multiple brands in a product line.
brand architecture
The naming and organizing of brands within a broader portfolio.
brand management
The overall coordination of a brand's equities to create long term brand growth through overseeing marketing mix strategies.
category manager
The person responsible for managing a product line that may contain one or more brands.
brand manager
The person responsible for managing the marketing activities associated with brand.
licensing
The practice of a company receiving fees or royalties from partner firms for the right to use a brand, manufacturing process or patent.
bundling
The practice of marketing two or more products and/or services in a single package.
brand valuation
The process of quantify the financial benefit that results from owning a brand.
brand strategy
The process where the offer is positioned in the consumer's mind to produce a perception of advantage.
brand knowledge
The set of associations that consumers hold in memory regarding the brand's features, benefits, users, perceived quality, and overall attitude as a result of prior brand marketing activities.
counterfeiting
The unauthorized copying of products, packaging, or other intellectual property of a registered brand.
flanker brand
This is created to expand an organization's portfolio into a new segment of an existing market category while retaining relevance with current customers.
brand extension
This takes an existing brand into a new category.
United States Patent and Trademark Office
USPTO, A federal agency responsible for assigning rights for limited times to individuals or companies to use innovations.
price war
When businesses cut prices to take sales from competitors.
brand equity
the power of a brand, through creation of a distinct image to influence consumer behavior.