Global Branding

What strengthens brand associations from consumer's perspective? Importance based on what 2 principles?

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

5 core marketing concepts

Needs, wants, and demands Marketing offers (products, services and experiences) Value and satisfaction Exchange, transactions and relationships Markets

(Step 3 to developing a brand architecture strategy) How should new produts and services be branded? What are sub-brands?

New products and services must be branded in a way to maximize the brand's overall clarity (e.g. branded house vs. house of brands) Brand extension in which the new product carries both the parent brand name and a new name E.g. Nivea Men

Brand preference vs. Brand relevance

Preference - which brands are preferred under assumptions in price and availability Relevance - creating new categoreis or subcategories that alter the way that existing customers look at the purchase decision (e.g. vacuum -> Dyson, Roomba)

4 attributes/benefits that underlie brand performance

Priamry ingredients and supplementary features Product reliability, durability, serviceability Style and design Price

Brand performance dimensions (3 & 3)

Primary ingredients and supplementary features: Reliability - measures the consistency of performance over time, purchase to purchase Durability - expected economic life of the product Serviceability - ease of repairing product if needed Style and design Price

Anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or a want

Product

5 different brand benefits (benefit analysis)

Self-expression benefit (e.g. elite craftsman) Emotional benefit (e.g. powerful + mighty) Rational benefit (e.g. precision + long-lasting) Functional benefit (e.g. comfort + durability) Features (e.g. wooden handle + steel head)

What is the difference between an industry and a market?

Sellers constitute an industry Consumers and customers constitute a market

Market & Market segmentation

Set of all actual and potential buyers who have sufficient interest in, income, for, and access to a product Divides the market into distinct groups of homogeneous consumer who have similar needs and consumer behavior, and who thus require similar marketing mixes

What's a vertical extension

Similar item/something in the brand used for different product categories. Ex: cookie dough maker making chocolate bars, cookies, ice cream etc.

5 dimensions of brand personality (as part of brand imagery)

Sincerity, excitement, competence )reliable, intelligent etc.), sophistication, ruggedness

Brand quality (as a judgement decision)

Specific attributes and benefits of the brand that help develop consumer attitudes toward the brand Important consumer attitudes relate to its perceived quality and to customer value and satisfaction Perceived quality measures are inherent in many approaches to brand equity

Importance of brand from risk perspective for consumer?

Strong brand's ability to simplify decision and reduce risk (e.g. functional, physical, financial risk etc.)

What does a positive brand image need to be? (3)

Strong, favorable, and unique

3 things packaging can influence

Taste Value (package can still lead us to believe we bought it because it was good value) Consumption (ex: toothpaste with bigger opening) How person uses the product

2 aspects of the 'brand potential'?

The brand vision (mgmt's view of brand, how well firm is able to recognize current and possible future brand equity) The brand boundaries (what it should offer, what it shouldn't)

Strategic Brand Management, what is it? 4 steps?

The design and implementation of marketing programs and activities to build, measure, and manage brand equity 1. Identifying and establishing brand postioning and values 2. Planning and implementing brand marketing programs 3. Measuring and interpreting brand performance 4. Growing and sustaining brand equity

What's the biggest importance of brands to firms?

They can be bought and sold, provide opportunity of sustained future revenues. Most of all, they're capable of influencing consumer behavior. Source of competitive advantage

User profile/imagery (as part of brand imagery)

Type of person or organization who uses the brand. Results in customers' mental image of actual users or more aspirational, idealized uers Can be based on demographic or psychographic (attitudes towards life, careers etc.) factors e.g. Jeep example

The uniqueness of a brand association serves as what for a product? What does that in turn provide the brand?

USP of the product Provides brands with sustainable competitive advantage

How are brands used as focusing devices?

Use producer's input to brands (7s) to create the brand, which creates consumers' output from brands (self-image, quality, cost, expected performance, differentiation)

A set of benefits that a company offers to consumers to satisfy their needs Fulfilled through what

Value proposition Marketing offer

How does the Associate Network Memory Model work? What are nodes and links? What concept is this linked to?

Views memory as a network of nodes and connecting links Nodes - represent stored information or concepts Links - represent the strength of association between the nodes Brand knowledge

What is cognitive consistency? In context of what? Example?

What is true for the new association must be true for the brand. In context of secondary associations George Clooney and Nespresso

When are secondary brand associations most likely to happen?

When consumers either lack the motivation of the ability to judge product-related aspects Ex: chocolate swiss army knife

3 things marketers should do to protect their brand

1. Choose brand elements that can be legally protected internationally 2. Formally register chosen brand elements with the appropriate legal bodies 3. Defend trademarks from unauthorized competitive infringement

2 key issues in arriving at the optimal competitive brand positioning

1. Define and communicating the competitive frame of reference (determine category membership) 2. Choosing and establishing POPs and PODs

3 steps to developing a brand architecture strategy

1. Defining Brand Potential 2. Identifying Brand Extension Opportunities 3. Branding New Products and Services

2 things to consider when choosing POPs and PODs

1. Desirability criteria (consumer perspective) Personally relevant, distincitve and superior, believable and credible 2. Deliverability criteria (firm perspective) Feasible, profitable etc.

4 criteria for segmentation

1. Identifiability - can we easily identify the segment? 2. Size - is there adequate sales potential in the segment? 3. Accessibility - are specialized distribution outlets and communication media available to reach the segment? 4. Responsiveness - how favorable will the segment respond to a tailored marketing program?

4 levels of the customer-based brand equity pyramid

1. Identity - Salience 2. Meaning - Performance & Imagery 3. Respones - Judgements & Feelings 4. Relationships - Resonance

7 strategies for establishing a brand extension?

1. Similar product in a different form from original parent product (ex: Snickers ice cream bar) 2. Introduce produts that contain brand's distinctive taste (Ex: Philly creame cheese with Milka) 3. Introduce companion products (Ex: Duracell flashlight) 4. Introduce products that capitalize firm's perceived expertise (Ex: Honda lawnmower) 5. Introduce product that capitazlie on distinctive image of brand (Ex: Ferrari shades) 6. Benefit/attribute/feature owned (Ex: Arm & Hammer 'owning' deodorizing, moved to other products) 7. Vertical extensions

In HP video, 3 steps in how they reinvented their brand?

1. Story (define strong, authentic story. Embraces proud heritage of Silicon Valley pioneer while leaning into the future) 2. System (Identity & Design System, inspired by brand story of progress and brand interaction with consumer) 3. Experiences (system where HP's partner agencies could create consistent and stunning brand experiences) - think of Coke Zero

Rationale of celebrity endorsements (as secondary association) (2)

A famous person can: Draw attention to a brand Shape brand perceptions, by virtue of consumers perceptions of the famous person

What is permission marketing? 2 kinds?

Act of getting permission from subscriber to send them commercial marketing messages Implied and express permission

What's the benefit of having a broad brand (ex: Uber), rather than a more specified brand name (ex: Head & Shoulders)?

Apple to support a higher-order promise relevant in multiple product settings. Transferable POD

What is a brand mantra

Articulation of the 'heart and soul' of the brand Short 3-5 word phrases that capture the irrefutable essence of the brand positioning and values

What is salience for brand building?

Awareness of the brand. To what extent is the brand top of mind, easily recalled and recognized? What types of cues & reminders are necessary?

Brand value vs. Brand equity Which concept appeals to whom in terms of what a brand means?

BV - NPV of future cash flows from branded product - NPV of similar product. What its worth to mgmt and shareholders, on the balance shet BE - set of perceptions, knowledge and behavior from customer that creates demand & price premium. What sets one brand from another. What is worth to a customer

Generic benefit level

Basic version of the product containing only those attributes or characteristics absolutely necessary for functioning. No frills version

4 aspects of brand resonance

Behavioral loyalty Attitudinal attachment (personal attachment) Sense of community Active engagement

What is brand knowledge made up of?

Brand awareness Brand image

2 general guidelines in naming a brand

Brand awareness (6 criteria) Brand associations (explicit & implicit meanings, can reinforce attitude/benefit association etc.)

(Step 2 to developing a brand architecture strategy) What is brand extension? 2 kinds? Equity implications of each extension needs to be understood in terms of what? (2)

Brand extension is a new product introduced under an existing brand name Line extensions - new product introductions within existing categories Category extensions - new product introductions outside existing categories Equity to be understood under: POP (credibility in new category) POD (is the existing POD useful in new category)

3 aspects of designing the brand mantra: Brand functions Decsriptive modifier Emotional modifier

Brand functions - The nature of the product/service or type or experiences/benefits the brand provides (Ex: Nike - authentic) Descriptive modifier - Further clarifies its nature (Ex: Nike - Athletic) Emotional modifier - Provides another qualifier-how exactly does the brand provide benefits, and in what way? (Ex: Nike - Performance)

How does Keller define brand equity?

Brand has positive customer-based brand equity when consumers react more favourably to a product and the way its marketed when the brand is identified than when its not

The entire set of brand elements put together make up what?

Brand identity

What concept is key to creating brand equity?

Brand knowledge

4 judgement decisions

Brand quality Brand credibility Brand consideration Brand superiority

Two aspects of brand awareness How do you create it?

Brand recognition (seeing brand at store), brand recall (i'm hungry, better get McDonald's) Increasing the familiarity of the brand through repeated exposure Forging strong associations with the appropriate product category or other relevant purchase or consumption cues The more consumer experiences brand, more its registered in their memory

Difference between branded house and house of brands?

Branded house - multiple brands using same brand name (ex: Virgin) House of brands - parent brand owning multiple other brands (ex: P&G)

Big important thing about unified brand communication?

Communication happens when the consumer metes the brand, no matter how. Ensure that every 'brand meeting' builds the brand ex: Harrod's

What is customer value based on?

Consumer assessment's of the product's overall capacity to satisfy his or her needs and wants

What is customer value based off of?

Consumer's assessment of the product's overall capacity to satsify his or her needs and wants

Brand image 2 forms of brand associations

Consumers' perceptions about a brand Brand attributes - descriptive features that characterize a product or service Brand benefits - personal value and meaning that consumers attach to the product or service attributes

5 levels of meaning for a product

Core benefit level Generic product level Expected product level Augmented product level Potential product level

Types of secondary associations?

Country of origin/geo location Channels of distribution Co-branding Ingredient branding Celebrity endorsement Sporting/cultural events Third party sources (ex: PC ranking shit, Consumer Reports)

4 types of brand names

Descriptive name - indicates what the company/product/service is or does (ex: Toys R Us) Acronyms - Usually evolves from functional names (ex: IBM) Invented names - Created specifically to represent a brand (ex: Kodak) Experiential names - Are like positioning statements (ex: Caterpillar)

Brand positioning

Designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind

What's the differential effect

Difference of brand effects soleley because of branding Ex: What do consumers think of Coke vs. Wal-Mart Coke? Wal-Mart Coke vs unbranded cola?

What are brand elements

Different components of a brand used to identify and differentiate them (e.g. sign, design, name etc.)

5 characteristics to test your brand name

Distinctive Sound Stickiness (easy to remember?) Expression (what brand is about?) Appearance

How to create brand association, where should it come from? How should marketers manage brand influences?

Doesn't matter which source of brand association. Needs to be favorable, strong and unique Marketers need to manage and account for brand influences through designing communication strategies ex: BP screwing up

3 performance dimensions of service (3 Es)

Effectiveness - measures how well the brand satisfies customers' service requirements Efficiency - describes the speed and responsiveness of service Empathy - extent to which service providers are seen as trusting, caring, and having the customer's interests in mind

What makes a strong brand? Ensuring customers have what, which creates what?

Ens

What makes a brand strong? Ensuring customers have what, to create what? Created by what?

Ensuring customers have the right type of experience with product/service Creates thoughts, feelings, images, beliefs, perceptions etc. Developing marketing programs that ensure the desired thoughts, feelings etc. are linked to the bradassocia

What's the goal for customers when establishing a strong brand, and in turn leads to what? What's the challenge?

Ensuring that customers have the right type of experience with the product/service and marketing programs In turns leads to Thoughts, feelings, images, beliefs, perceptions and opinions become linked to the brand Challenge is to ensure consumers have the right type of experience with the product

2 kinds of brand feelings

Experiential and immediate Private and enduring

Brand credibility, in terms of what perceived 3 things? (as a judgement decision)

Extent to which customers see the brand as credible in terms of perceived: Expertise, trustworthiness, likability

Brand superiority (as a judgement decision)? Critical to building what? Depends on what?

Extent to which customers view the brand as unique and better than other brands Critical to building intense/active customer relationships Depends on number and nature of unique brand associations that make up the brand image

What is: Functional risk Physical risk Financial risk Social risk Psychological risk Time risk

Functional - product does not perform up to expectations Physical - product poses a threat to the physical well-being/health of the user or others Financial - product is not worth the price paid Social - product results in embarrassment from others Psychological risk - product affects the mental well-being of the user Time risk - failure of the product reuslts in an opportunity cost of finding another satisfactory product

Core benefit level

Fundamental need or want that consumers satisfy by consuming the product/service

Benefits of positive brand equity?

Greater customer loyalty Less vulnerabuluty to competitive marketing actions Larger margins More favorable customer respones to price changes Greater trade or intermediary support and cooperation Increased marketing communication effectiveness Licensing and line or brand extension opportunities

Importance of brand architecture strategy? 2 examples?

Helps marketers determine which products and services to introduce, and which brand names, logos, and symbols to apply to new & existing products Ex: Marriott Hotels, Anheuser-Busch selection of import/local beers in different regions

When are brand associations more favourable for certain consumers? Example?

Higher when brand possesses relevant attributes and benefits that satisfy consumer needs and wants. Ex: Starbucks is coffee, cakes, sofa, studying, breakfast, convenient etc.

Brand consideration (as a judgement decision)

How personally relevant customers find the brand

Product category structure

How product categories are organized in the consumer's memory. Hierarchy (e.g. Beverages splits to water, flavored etc.)

Semiotics

How signs and symbols create meaning (in different cultures)

When are brand extensions appropriate?

If there is some basis of *fit* or similarity between the propsed extension and parent brand Major mistake in evaluating extension opportunities is failing to take all of consumers' brand knowledge structures into account Ex: Nivea skin care products vs. Nivea lipstick Red Bull Cola

(Step 1 to developing a brand architecture strategy) What is the brand vision influenced by? What does the brand vision need to be?

Influenced by how well the firm is able to recognize the current and possible future brand equity Brand vision needs to be aspirational, so the brand can improve in the future, yet cannot be unobtainable. Transcends the brand's physical product category descriptions and boundaries

2 strategies to create a new ladder (ladder concept, positioning)

Innovate or rebrand (reposition, ex: Outlast being 'medicine breath')

What is anthropomorphism?

Interpretation of what is not human or personal in terms of human or personal characteristics: humanization Ex: M&M characters, Mr. Clean

What is (supposeably) the most valuable brand awareness tool?

Jingles3

Set of actual and potential buyers of a product or service

Market

6 crtieria for choosing brand elements

Memorable (Blue Rhino) Meaningful (Activia) Likable (Birds Eye/Iglo Fish) Transferable (Virgin? Gerber?) Adaptable (Betty Crocker changing logo over time) Protectable (Energizer bunny vs. Duracell)

Positioning and messaging, which is global which is local

Messaging is localized, postioning is global