Exam 3 Fashion Brand

Definition of consumer brand

Used in daily life: Crest, Pantene, Nike shoes, Levi's, Starbucks

2 types of brand image

User imagery, usage imagery

What is the sale and distribution of goods to retailers, or industrial, commercial, institutional, or other professional business?

Wholesaling

endorsed

brand that has synergy between the product name and the parent brand. - ex: marriottp

Brand extension builds _____ _____ which refers to the # of lines and styles association with a specific brand

brand width

Definition of industrial brand

brands working in business-to-business

Monolithic

characterized by one single, strong master brand. - puts the focus on the main brand image, only small variations or descriptors for sub-brands - ex: FedEx

Subsidiary

combines the main brand with secondary or subsidiary brands. ex: nike and jordan

Tangible brand elements can be described as

concrete, physical, and objective,

definition of evaluation regarding consumer adoption process

consumer considers trying new products

definition of adoption regarding consumer adoption process

consumer decides to make regular use of product

Definition of awareness regarding consumer adoption process

consumer is aware of product but lacks information

Definition of interest regarding consumer adoption process

consumer seeks information about a new product

definition of trial regarding consumer adoption process

consumer tries new product on a small scale

definition of brand salience

consumers abilities to recognize, or have awareness of, any particular brand (awareness vs. saline: Dunkin vs. Starbucks)

What kind of product is this? o Regularly consumed, daily use o Low price level o Frequently purchased with little thought, planning, or shopping effort o Alternative options are not considered, and price and quality are not considered ----- Examples: toothpaste, salt, ketchup, candy, water, soda, socks

convenience product

Example of sales promotion

coupons and deals, competitions and contests, free trials and demos)

What is an important goal of a creative brief?

describing how a new brand will fit into an overall structure

What is required for fashion brand experiences?

easy navigation, user contribution, predictive shopping

definition of intangible

entertaining, sensations, perceptions, conveniences, prestige, services, policies, amenities

What are the 4 Es?

entertainment, esthetic, educational, escapist

what kind of product is this? o Fashion products can be either shopping, specialty, or luxury products --§ Apparel --§ Shoes --§ Accessory --§ Cosmetics --§ non-durable home goods

fashion

Definition of positioning briefs

finding the proper location in the minds of a group of consumers to earn financial profits

Definition of brand architecture

hierarchy of brands within the company. the interrelationship of the parent company

What are non-durable home goods?

home décor items (tables, bed linens, rugs, vase)

Brand personality involves _____ _______________ associated with a brand

human characteristics

user imagery

perceptions of the type of people who use the product or service

What are the risks of purchasing products?

performance, physical, financial, time, social

Definition of tangible

physical and perceptual senses (sight, sound, smell, taste, touch) (motion, scent, sound, sound, colors, names, symbols, logos)

What are touchpoints?

places where brand elements are applied; any ways consumers can interact with a brand

What is a necessity for overall coherent brand development?

positioning briefs

Branding

process of using brand elements to differentiate goods/services by providing distinct images, associations, and experiences related to the offerings and firms

Definition of private brand

produced by one entity and offered to consumers only through channels controlled by the entity

Marketing and advertising activities designed to communicate product and brand characteristics can be described as what?

promotion

Promotion is communications with specific, identifiable ________ and an ________ _________

purpose, intended audience

What are the 2 factors of Industrial brands?

(1) the final user of the branded product or service (2) distribution channels determine either consumer brands or industrial brands.

Definition of brand briefs

- Written documents describing the essence of the brand to achieve strategic goals - Bring values to consumers while satisfying their needs - Generate economic return on investment to its owners

Definition of Brand Equity

- consumers subjective and intangible assessment of the brand, above and beyond its objectively perceived value. - The power of a brand lies in what consumers know about a particular brand

What do positioning briefs include?

- descriptions of target consumer attributes - inventories and comparison of competitor's brands

Definition of category extension

- extension in a different product category. - Applies the parent brand to enter a different product category from the one it currently serves

Definition of line extension

- extension within the same product category. - Adds a different variety, a different form or size, or a different application for the brand to appeal to a new target market of consumers

Definition of Brand Image

- the sum of a consumer's perceptions and feelings of a brand, created by the consumers. - It is how the consumer actually interprets the brand. - Creating a clear image that coincides with its identity is important to the success of a brand

definition of creative briefs

A way to synthesize what the creative team needs to know in order to do responsible work aligned with the overall objectives of the project

What is involved in the consumer adoption process in order?

Awareness, interest, evaluation, trial, adoption

Which consumer group is this? o Currently 58-76 years old o Large in size; influential in marketplace o Large amounts of flexible income o Willing to spend money on fashion products o Work-centered, goal-oriented

Baby boomers 1946-1964

An entirely new class of product introductions under the same parent brand. The products are different from those that offered by the original brand

Category extension

Definition of excitement

Daring, spirited, imaginative, up-to-date

Definition of sophistications

Dior - French luxury, elegant, glamorous, romantic

Definition of sincerity

Down to earth, honest, wholesome, cheerful

Which consumer group is this? o Currently 42-57 years old o The second-smallest consumer group o Limited impact on fashion

Generation X 1965-1980

Which consumer group is this? o Currently 26-41 years old o High levels of flexible income & technological abilities o Willing to try new products o Mostly targeted by fashion and retail professionals

Generation Y (Millennials) 1981-1996

conterfiet goods

Identical reproductions to legitimate products in appearance, including packaging, trademarks, and labeling.

What kind of brands are not bought by consumers directly, but bought by other companies to use in their manufacturing?

Industrial brands

Favorability of Brand Associations

Is higher when a brand possesses relevant attributes and benefits that satisfy consumer needs and wants

Strength of Brand Associations

More deeply a person thinks about product information and relates it to existing brand knowledge, stronger is the resulting brand association

What is included in creative work?

Naming, Logo redesign, Key message development, Brand architecture, and Packaging design

Which brand can be both consumer and industrial brands?

Private brand

Uniqueness of Brand Associations

Provides brands with sustainable competitive advantages

Definition of competence

Reliable, intelligent, successful

What is involved in the selling of goods to ultimate consumers for personal or household consumption?

Retailing

knockoffs

Similar copies but not identical to the authentic products

What traits are included in brand personality?

Sincerity, excitement, competence, sophistications, ruggedness

definition of sales promotion

Specific single-time, limited duration strategies used by marketers

3 Associations of Brand Image

Strength, Favoribility, Uniqueness

Which consumer group is this? o Has money to spend o Enjoy new products o Smallest in size o Underserved by fashion & retail o Poised for growth

The Grey Market 1945

design portfolio

a collection of images of individual interior spaces, works of art, apparel or accessory items

Brand portfolio

a collection of individual brands controlled by one business entity

Definition of multiplier

a set of separate variables found to affect how one stage of the brand value chain affects the next in the sequence

intangible brand elements can be described as

abstract, beneficial, and subjective

definition of educational

active participation in the process of increasing their knowledge or skills. -Reflects a consumers active participation

Definition of easy navigation

an experience whereby visitors to an Internet site can see how to use and enjoy the products offered within a few clicks

Definition of promotion

any communication between sellers and consumers intended to make known defined brand attributes, including advertising, sales promotions, and personal selling

Definition of advertisement

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.

What can reduce all of the risks of product decisions?

awareness, image, familiarity

What is brand personality influenced by?

brand behaviors such as corporate sponsorship and sustainability programs.

Merchandising contributes to building favorable ______ ______ and strengthening _______ _______

brand image, brand equity

what kind of product is this? o branded products driven by --§ high quality --§ technical superiority --§ technological advancement --§ unique craftsmanship o Its price level is higher than the price of specialty products o Appeals to emotions and state of wealth

luxury

push tactics

manufacturers produce a large number of items

pull tactics

manufacturers produce a limited number of items and distribute those to fewer retailers

4 stages of brand value chain

marketing program investment customer mindset market performance shareholder value

_____________ and _____-_______ practices should work together

merchandising, brand-related

Brand Elements

name logo symbol color style slogan

Definition of Ruggedness

outdoorsy, tough

The brands held in a portfolio should work to enhance the ________ ____. Those should not work at odds with each other.

overall brand

pluralistic

parent brands have multiple brands that are well-known brands on their own. Lauder and Gap (Gap, BR, ON).

definition of esthetic

passive appreciation of a pleasing physical or virtual setting. Consumers enjoyment of unique physical or virtual environment

Definition of entertainment

passive observation of a performance, event, or activity. The consumer is not actively involved in the creation but their mind is engaged

what kind of product is this? o Less frequently purchased than convenience products; relatively durable o Higher price level than convenience products o Planning and price/brand comparison are required o Alternative options are considered o Factors in buying: price, quality, style, and color ----- Examples: TV, refrigerator, furniture, lawn mower

shopping

Usage imagery

situations or lifestyles in which the brand is used

What is involved in merchandising?

sourcing, producing, distributing, and selling products.

what kind of product is this? o Sought out by consumers actively and willingly o Usually, but not necessarily, of high value o Factors in buying: Brand identification, unique characteristics o Substitute products are not accepted; price is not mainly considered -----Examples: iPhone, Dyson Airwrap, Nike Dunk Low

specialty product

Brand personality is a part of ________ _____ of brand image

symbolic nature

Consumer behavior definition

the ongoing process involved in obtaining, consuming, and disposing of products and services

What is the definition of brand extension

the practice of marketing new products under well known brand names in an effort to capitalize on the positive image the parent brand has in the consumer's mind

How is brand personality formed?

through a consumer's contact with the multi- sensory and symbolic aspects of the brand.

definition of user contribution

user feedback

Definition of predictive shopping

using information about users and their purchases to suggest other, similar, or related items they might also want (e.g., you might also like)

Creative briefs ________ __________ a brand

visually sympathize

What do brand briefs contain?

· Mission and vision statement · Big idea · Brand attributes · Target markets and stakeholders · Key competitors and competitive advantage

definition of escapist

· active participation in creating an experience leading to a feeling of immersion in a different time or place or as a different character. - Consumers take action to shape or contribute to their own experiences.