MKTG101 Marketing Branding

These flashcards cover key concepts related to branding and marketing strategies discussed in MKTG101.

Brand

A name, term, sign, symbol, or design intended to identify the goods and services of one seller or group of sellers and differentiate them from competitors.

Brand Equity

The differential effect that knowing the brand name has on customer response to the product or its marketing.

Brand Positioning

The embodiment of a company's positioning in the consumer's mind relative to competition.

Brand Development

The process of creating new brands, extending existing brands, or introducing brand extensions.

Brand Sponsorship

The practice of manufacturers marketing products under their own brand name, or retailers marketing products under their own brand name.

Line Extension

The introduction of a new product under an existing brand name within the same product category.

Brand Extension

The practice of extending an existing brand name to a new or modified product in a different product category.

Market Segmentation

The process of dividing a broader market into smaller, defined categories for targeted marketing.

Differentiation

Creating a unique product or brand image in the consumer's mind compared to competitors.

Consumer Value

The perceived benefit that a product provides to a customer relative to its cost.