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.