Branding Concepts and Strategies

These flashcards cover key concepts and definitions related to branding, brand equity, and marketing strategies as discussed in the lecture.

What is a Brand?

A name, term, sign, symbol, or design intended to identify goods or services and differentiate them from competitors.

What are Brand Elements?

The essential aspects of a brand including the identifying name, term, design, symbol, etc.

What is Brand Equity?

The marketing and financial value associated with a brand's strength.

What does brand loyalty reflect?

The value of a brand based on customer loyalty, awareness, perceived product quality, and brand associations.

What are the benefits of branding for sellers?

Branding facilitates product introduction, repeat purchasing, and promotional efforts.

What influences consumer perception of a brand?

Perception, emotions, and relationships associated with the brand.

Define Core Benefit.

The primary value that the customer derives from buying a brand.

What is the importance of brand positioning?

It helps in providing identity and projecting the right message to consumers.

What factors create strong brands?

Strong brands occupy a distinct position in consumers' minds based on relevant benefits and create emotional connections.

List some characteristics of Brand Personality.

Traits ascribed by consumers to brands such as sincerity, excitement, competence, sophistication, and ruggedness.

What role does packaging play in branding?

Packaging protects, identifies, promotes, and facilitates convenience for products.

How does Aaker's model assess brand equity?

It considers customer attitude toward a brand and loyalty, classifying it into different levels.

What are Brand Archetypes?

Universal patterns and images suggested by Carl Jung that represent human instincts and are used in branding strategies.

What defines a Private Brand?

A brand that can only be found at specific stores, such as Kroger or Safeway's in-house brands.

What is the difference between Brand Image and Brand Personality?

Brand image refers to consumer associations, while brand personality refers to the traits ascribed to a brand.

What is considered when evaluating Brand Knowledge?

The overall value based on brand loyalty, awareness, perceived quality, and brand associations.