BUS 346 Chapter 10

store brands

also known as private-label brands

private-label brands

brands developed and marketed by a retailer and available only from that retailer; also called store brands

manufacturer brands

brands owned and managed by the manufacturer

brand awareness

measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communication to consumers

brand loyalty

occurs when a consumer buys the same brand's product or service repeatedly over time rather than buying from multiple suppliers within the same category

brand association

the mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality

brand equity

the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service

brand extension

the use of the same brand name for new products being introduced to the same or new markets