Brand Management and Equity Lecture Flashcards

A comprehensive set of vocabulary flashcards covering key terms and concepts from the Strategic Brand Management lecture including equity, architecture, and personality.

Customer-Based Brand Equity (CBBE)

The differential effect that brand knowledge has on customer response to the marketing of that brand.

Brand Benefits

The personal value and meaning that consumers attach to the product or service attributes.

Permission Marketing

The practice of marketing to consumers only after gaining their express permission to break through clutter and build loyalty.

Relationship Marketing

Marketing strategies that transcend the actual product or service to create stronger bonds with consumers and maximize brand resonance.

Conjoint Analysis

A multivariate research technique used to find the optimum positioning between low-price, low-quality and high-price, high-quality offerings.

Brand Extension

The introduction of a new product or service under an existing brand name.

Brand Portfolio Management

The strategic process of optimizing the allocation of resources among different brands within a firm's portfolio.

Brand Revitalization

The act of rejuvenating a brand to enhance its appeal and regain its competitive edge in response to market changes.

Secondary Brand Associations

The practice of linking a brand to other entities, such as companies, countries, distribution channels, or celebrities, to create new associations.

Brand Migration

A strategy used to extend an existing brand into new product categories, markets, or customer segments.

Marketing-Based Comparative Approaches

Research studies that examine consumer response to the same brand based on changes in the marketing program.

Subculture Branding

The process of creating a brand that appeals to a specific cultural group within a larger market.

Brand Hierarchy

The organization and structure of a brand's product portfolio within a company, establishing clear relationships and distinctions.

Integrated Marketing Communication (IMC) Criteria (6Cs)

The six relevant criteria for designing IMC programs are: Coverage, Contribution, Commonality, Complementary, Conformability, and Cost.

Brand Resonance

The model describing how to create intense loyalty and strong customer relationships; its four dimensions are behavioral loyalty, attitudinal attachment, sense of community, and active engagement.

Brand Salience

A measure of brand awareness reflecting how easily and often the brand is evoked under various situations or circumstances.

Brand Performance

The concept describing how well a product or service meets the functional needs of customers.

Brand Imagery

Associations related to the extrinsic properties of the product or service, including psychological or social needs.

Brand Judgments

Customers' personal opinions and evaluations of a brand, formed by combining brand performance and imagery associations.

Points-of-Difference (PODs)

Attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand.

Points-of-Parity (POPs)

Associations that are not necessarily unique to the brand but may in fact be shared with other brands; categories include category, competitive, and correlational.

Sincerity (Brand Personality)

A dimension of brand personality characterized as being down-to-earth, honest, wholesome, and cheerful.

Excitement (Brand Personality)

A dimension of brand personality characterized as being daring, spirited, imaginative, and up-to-date.

Competence (Brand Personality)

A dimension of brand personality characterized as being reliable, intelligent, and successful.

Sophistication (Brand Personality)

A dimension of brand personality characterized as being upper class and charming.

Ruggedness (Brand Personality)

A dimension of brand personality characterized as being outdoorsy and tough.

Brand Audit

A comprehensive examination of a brand to discover its sources of brand equity, consisting of the Brand Inventory and Brand Exploratory.

Brand Inventory

A step in a brand audit that provides a current, comprehensive profile of how all products and services are marketed and branded.

Brand Exploratory

The second step of a brand audit which provides detailed information about what consumers actually think, perceive, feel, and judge about a brand.

Flanker Brand

A brand launched to counter a competitor's brand or protect a flagship brand (e.g., Inditex launching Lefties to counter Shein).

Licensing

Contractual arrangements where a firm rents another brand or corporate trademark to contribute to the brand equity of a product.

Omnichannel

A sales approach that provide the customer with an integrated experience across all channels, including online, offline, and various devices.

Brand Mantra

A short, $3$ to $5$ word phrase that captures the irrefutable essence or spirit of the brand positioning.

Branded House

A brand architecture strategy that emphasizes the corporate brand, with individual product brands having less prominence.

House of Brands

A brand architecture strategy where individual brands are managed independently with their own marketing teams and budgets.

Brand Tracking Studies

Routine research used to collect quantitative information from consumers over time to facilitate day-to-day decision-making.

Psychological Risk

A type of product risk where purchasing or consuming a product results in mental distress or affects the well-being of the user.

Social Risk

A type of product risk where a product result in embarrassing the user in front of others.

Value Pricing

An objective to uncover the right blend of product quality, costs, and prices to satisfy consumer needs and firm profit targets.

DRIVE (Program Quality Multiplier)

An acronym representing five measures: Distinctiveness, Relevance, Integrated, Value, and Excellence.