MK 11

brand

a marketing tool used to identify an offering, differentiate it from similar offerings, and create distinct other attributes in the offering

brand positioning elements

positioning statement

brand character

intended consumer response

tagline

brand character

human characteristics that will resonate with your target

intended consumer response

how interacting with product/service makes people feel

tagline

short encapsulation of essence of the brand

brand elements

name

logo

sound

package

font

slogan

URL

character

brand elements requirements

memorable

repeatable

positive associations

practical

brand equity’s four pillars

brand awareness

perceived value

brand association

brand loyalty

brand strategies

line extension

brand extension

multibrand

new brand

line extension

same category, new formats

ie. coca cola → diet coke → cherry coke

brand extension

same name, new category

ie. dove → dove men+care → dove shampoo

multibrand

launch a totally different brand in the same category

ie. unilever launching 5 shampoos to win shelf space

new brand

build something completely separate

brand strategies

product mix/category breadth

product line depth

evaluating brand extensions

good fit is crucial

• transferability of skills and assets

• complementary use

• functional attributes

• emotional attributes

poor fit and brand overuse may weaken the brand and result in brand dilution

what do you need to create a new brand?

different positioning and quality

build brand from scratch

limited endorsement/support from parent brand

audience should not overlap

repositioning/rebranding

dunkin donuts → dunkin

facebook → meta

service strategies

enhance brand experience

how does service marketing differ from product marketing

inseparable, intangible, perishable, heterogeneous

gaps in service

knowledge gap

standards gap

delivery gap

communication gap

knowledge gap

difference in customer expectations for service quality and management perceptions of customer expectations

ie. customers want to check into hotel in 5 mins or less, but management things customers what to check into hotel in under 10 mins

standards gap

difference in management perceptions of customer expectations and standards specifying service to be delivered

ie. management wants all bathrooms in hotel to be spotless, and standards are that everything should be thoroughly cleaned and mopped, but no inspections are made and no insistence on keeping things “spotless”

delivery gap

difference in standards specifying service to be delivered and actual service delivered

ie. standards manual to train personnel say ice machines on each floor should be working but in reality only 80-90% are in good working order

communication gap

difference in actual service delivered and communications about service quality

ie. customers are disappointed in quality of sheets and towels when promotions promise “the finest, plushest linens in the city”

to increase service recovery

listen to the customer

resolve problems quickly

provide a fair solution

One of the difficulties in running a clothing company is the need to have significant________, a large number of items in each product line.

1. Option A

   product line depth

2. Option B

   product mix depth

3. Option C

   brand equity

4. Option D

   product mix breadth

5. Option E

   product line breadth

A. Product line depth is the number of items in a product line.

One important purpose of a brand is to

Option A

minimize product line depth needed to be effective

Option B

meet government regulations

Option C

reduce product packaging

Option D

sell advertising space

Option E

increase consumer recognition and awareness of product offerings

E. Brands help consumers know what products are available under that name.

One way to determine brand equity is to consider the brand’s

Option A

profit

Option B

breadth

Option C

costs

Option D

loyalty

Option E

competition

D. Experts look at four aspects of a brand to determine its equity: brand awareness, perceived value, brand associations, and brand loyalty.

A company’s product mix consists of

1. Option A

   its various product lines

2. Option B

   solely augmented services

3. Option C

   only cobranded products

4. Option D

   secondary packages

5. Option E

   brand equity

A. The product mix typically consists of various product lines, which are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services.

Marketers with successful brands sometimes hesitate to expand their brands because

1. Option A

   Manufacturing divisions usually control brand expansion and often conflict with the marketing division.

2. Option B

   The current economy can support only a limited number of product options.

3. Option C

   Federal Trade Commission regulations limit the number of products that can be marketed under an individual brand name.

4. Option D

   It is costly to maintain many product lines, and it might weaken the brand’s meaning.

5. Option E

   It can be difficult to get additional marketing communications coverage for the brand.

D. Adding unlimited numbers of new products can have adverse consequences. Too much breadth in the product mix becomes costly to maintain, and too many brands may weaken the firm’s reputation.