Branding and Marketing Vocabulary

Flashcards containing vocabulary terms and definitions relevant to branding and marketing.

Brand

Distinguish a product from others through symbols.

Consistency

Following through on brand promises to customers to build loyalty.

Distinctive features

Tangible part of the idea/promise to customers.

Economic return

What the customer gets out of a purchase (problem solved).

Entity

Interchangeable with 'product'.

Ethics

Moral standards of the brand.

Idea

A unique experience or product idea that performs better than copies.

Identity

What the brand says to customers; the brand's personality and character.

Innovation

Able to meet customers' changing needs; keeps the brand relevant.

Image

How the customer sees and understands a brand.

Positioning

How the company proposes the brand be perceived by customers.

Promise of value

The promise that consumers will get value by buying the brand.

Branding

A process that a company goes through to highlight the value of a product.

Cool hunting

Finding what is trending with teens.

External marketing

External interaction with the market (advertising, PR, etc.).

Direct marketing

Using records of individuals to send catalogs, coupons, etc.

Internal marketing

Selling the brand to those inside the company before selling outside.

Personality

Summary of how the brand behaves; its culture (e.g., boring, fun, conservative).

Symbols

A color, item, packaging, logo, typography.

Vision

The brand's concept/story.

Mission statement

Defines why a company is in business and what kind of business it is in.

Brand Audit

Organization assesses the brand’s performance and measures customer reactions.

Brand extension

Increasing the range and product lines under a brand’s umbrella.

Co-branding

Using multiple brand names on a product or service.

Communication

Relaying the brand's identity through advertising or other channels.

Horizontal integration

Expanding at the same level and stage of the production chain.

Vertical integration

Taking over and controlling various stages of the production or distribution chain.

Licensing

An agreement granting legal rights to use a brand in exchange for royalty fees.

Publicity

Non-paid promotional activities, such as magazine editorials or word-of-mouth.

Public relations

Activities held by the company to enhance the brand’s image.

Promotional activities

Running sales, coupons, and promotions.

Relaunch

A strategy of reintroducing a brand to the public after a period of low interest.

Reposition

Establishing a new relationship and relevance to new customers.

Revitalization

Focuses on becoming more relevant to existing markets without necessarily repositioning.

4Ps

Product, price, place, promotion.

Line extension

Adding new product items to an existing line of products.

Premium brands

Top of the mass-market spectrum in terms of price, yet more accessible than luxury brands.

Private label brands

Brands created by retailers to compete with manufacturers’ brands.

Mass market characteristics

Affordability, broad appeal, and consumer needs.

Luxury characteristics

Exclusivity, quality, premium prices, experience.

American luxury brands

Built on an aspirational premise of a lifestyle.

Licensing risks/rewards

Could help or hurt a brand's image, allowing for extensions into different markets.

Cobranding risks/rewards

Increased reach and credibility, but risks include brand dilution and conflicts.

Gray markets

Genuine products bought from one market to be sold in another market at higher prices.

Public Relations

PR activities aimed at enhancing the brand's public image and addressing past issues.