Term
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Definition
| – the element of a band that is not made up of words (symbol or design) |
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Term
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Definition
| – a legal designation indicating that the owner has exclusive use a brand or part of a brand |
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Term
| What is the Value of Branding? |
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Definition
o Helps reduce a buyer’s perceived risk of purchase.
o Cultural Branding – used to explain how a brand conveys a powerful myth that consumers find useful in cementing their identities |
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Term
| Customers in the ___, ___ and ___ are less brand loyal than US customers |
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Definition
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Term
| What are the 3 degrees of brand loyalty? |
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Definition
Recognition
Preference
Insistence |
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Term
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Definition
| – occurs when a customer is aware that the brand exist and views it as an alternative purchase if the preferred brand is unavailable or if the other available brands are unfamiliar |
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Term
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Definition
| – a stringer degree of brand loyalty: a customer definitely prefers one brand over competitive offerings and will purchase this brand if available |
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Term
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Definition
| – occurs when a customer strongly prefers a specific brand, will accept no substitute, and is willing to spend a great deal of time and effort to acquire that brand |
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Term
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Definition
| – is the marketing and financial value associated with a brand’s strength in a market |
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Term
| What is likely to be the most valuable asset to a company? |
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Definition
| The economic value of the brand |
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Term
| What are the 4 major elements underlining Brand Equity? |
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Definition
• Brand name awareness
• Perceived brand quality
• Brand associations – a particular brand with a certain level of overall quality
• Brand loyalty |
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Term
| What can Brand Loyalty to for a business? |
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Definition
| – reduces a brand’s vulnerability to competitors’ actions |
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Term
| What are the 3 types of brand category? |
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Definition
Manufacturer
Private Distributor
Generic |
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Term
| What is a Manufacturer brand? What are some examples? |
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Definition
| – initiate by producers and ensure that producers are identified with their products at the point of purchase (ex. Clorox, Compaq, Levi’s) |
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Term
| What do Manufacturer brands usually require the producer to do? |
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Definition
| Usually requires a producer to become involved in distribution, promotion, and to some extent, pricing decisions |
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Term
| What is a Private Distributor? What are some other names for them? |
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Definition
- are initiated and owned by resellers like wholesalers and retailers
-(private brand, store brand, dealer brand) |
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Term
| Major characteristic of private brands is that the manufacturer is... |
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Definition
| not identified on the products |
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Term
| Retailers and Wholesalers use private brands to... |
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Definition
| develop more efficient promotion, generate higher gross margins and change store image |
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Term
| What is the Battle of the Brands? |
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Definition
| – competition between Private brands and Manufacturer brands |
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Term
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Definition
| – indicate only the product category and do not include the company name or other identifying terms |
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Term
| What should a brand name contain when being selected for the first time? |
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Definition
-The name should be easy for customers to say, spell and recall
-Brand name should indicate the product’s major benefits and if possible suggest in a positive way the products uses and special characteristics
-Brand should be distinctive |
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Term
| What are all the brand types regarded under brand protection? What are some examples of each type? Which ones are not protectable? |
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Definition
-Fanciful (Exxon)
-Arbitrary (Dr. Pepper)
-Suggestive (Spray n’ Wash)
-Descriptive (Minute Rice)
-Generic (Aluminum Foil) –not protectable |
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Term
| What are a few things that are very difficult to protect under brand protection law? |
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Definition
Surnames and descriptive
-geographic
-functional names |
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Term
| Why must marketers keep brand names from becoming generic? |
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Definition
| because once they are they cannot be protected |
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Term
| What are steps used to keep brands from becoming generic terms? |
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Definition
-Use capital letters in the brand name to prevent generic ruling
-Use brand name as an adjective
-Include the word “brand” after the name |
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Term
| What is the Trademark Law Revision Act? What was it's purpose? |
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Definition
| (only trademark act after Lanham) purpose was to increase the value of the federal registration system for US firms relative to foreign competitors and to better protect the public from counterfeiting, confusion and deception |
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Term
| What are the 3 types of branding strategies? |
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Definition
-Individual
-Family
-Brand Extension branding |
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Term
| What is Individual branding? |
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Definition
| – a strategy in which each product is given a different name |
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Term
| What are the advantages of individual branding? |
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Definition
– if a product is received poorly it doesn’t affect the other brands the company has
-Allows for better market segmentation |
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Term
| What is Family Branding? What are some examples? |
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Definition
| – all of a firm’s products are branded with the same name or part of the name (Kellog’s frosted flakes, Kellog’s Rice Krispies) |
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Term
| Unlike individual branding, family branding means that... |
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Definition
| the promotion of that one item with the family brand promotes the firm’s other products. |
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Term
| What is a Brand Extension? |
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Definition
| – occurs when a firm uses one of its existing brands to brand a new product in a different product category |
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Term
| Brand extension is unlike a line extension because... |
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Definition
| line extensions involve using an existing brand on a new product in the same product category |
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Term
| Diluting a brand by extending it into dissimilar product categories could... |
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Definition
| have the potential to suppress consumer consideration and choice for the original brand |
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Term
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Definition
| – is the use of two or more brands on one product |
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Term
| What is Co-branding used for? |
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Definition
| Used to capitalize on the brand equity of multiple brands |
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Term
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Definition
| – agreement in which a company permits another organization to use its brand on other products for a licensing fee. |
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Term
| What are some advantages of Brand Licensing? |
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Definition
| – extra revenues, low cost publicity, new images and trademark protection |
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Term
| What are some disadvantages of Brand Licensing? |
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Definition
| – lack of manufacturing control, bombarding consumers with too many unrelated products bearing the same name |
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Term
| Licensing agreements can fail due to _________, _____________ , _____________. |
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Definition
| poor timing, inappropriate distribution Channels, mismatching or product and name |
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Term
| What are some Major Packaging Considerations? |
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Definition
o Cost
o Consistency
o Tamper Proof
o Promotional |
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Term
| What must be considered when designing packaging for promotional use? |
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Definition
| Size, shape, texture, color, and graphics |
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Term
| What is Altering the Packaging of a product done? |
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Definition
-Redesign may be needed because new product features need to be highlight or because new packaging materials have become available
-A company may choose to alter the packaging to reposition the product or make the product safer or more convenient to use |
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Term
| What is Category-Consistent Packaging? What other things can be done? |
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Definition
-The product is packaged in line with the packaging practices associated with a particular product category
-Other categories like color combinations can be used |
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Term
| What are the purposes for Innovative Packaging? |
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Definition
-Can be used to set the product apart from others
-Can be used to help preserve the product |
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Term
| What are some Criticisms of Packaging? |
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Definition
-Deceptive wording or designs to fool customers
-Safety, glass containers, aerosol and plastic containers being risky to health |
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Term
| What is the definition of Labeling? |
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Definition
| – very closely interrelated with packaging and is used for identification, promotional, informational, and legal purposes |
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Term
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Definition
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Term
| What is the Fair Package and Labeling Act? |
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Definition
| – one of the most comprehensive pieces of labeling and packaging legislations |
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Term
| What is the main focus of the Fair Package and Labeling Act? |
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Definition
| Focuses on mandatory labeling requirements, voluntary adoption of packaging standards by firms within industries, and the provision of power to the FTC and FDA to establish and enforce packaging regulations |
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Term
| What is the Nutrition Labeling Act? |
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Definition
| – requires the FDA to review food labeling and packaging, focusing on nutrition content, label format, ingredient labeling, food descriptions and health messages |
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