CHAPTER 2 MARKETING/ADVERTISING

brand association

thoughts, qualities, feelings, or ideas consumers connect with a brand

michelin brand associations

Michelin Man → durability, reliability, safety.

Tangible elements of brand image

Products/services, retail outlets, advertising, marketing communications, name/logo, packaging/labels, employees.

intangible elements of brand image

Personnel, ideals, beliefs, conduct, environmental policies, corporate culture, country location, media reports.

How does a strong brand image benefit consumers?

Gives confidence, reduces risk/search time, provides reassurance and psychological/social reinforcement.

How does a strong brand image benefit companies?

Can support higher prices, loyalty, WOM, channel power, new products, attracting employees, and favorable financial perceptions.

4 categories of brand names

overt, implied, conceptual, iconoclastic

Good brand names should be…

Easy to pronounce/recognize/remember, distinctive, extendable, translatable, legally protectable, and connected to benefits/qualities.

Types of brands

Family brand, brand extension, flanker brand, co-branding, ingredient branding, cooperative branding, complementary branding, private brands.

Family Brand

One brand name used for multiple related products.

Brand Extension

Using an established brand name for a new product.

Flanker Brand

A new brand/product introduced into a category where the company already competes.

Co-branding

Two brands working together on a product/marketing effort.

Ingredient Branding

Promoting a branded component/ingredient within another product.

Private Brand

A brand owned/sold by a retailer rather than a national manufacturer.

4 tests of a quality brand logo/name

Recognizable, familiar, consensual meaning, evokes positive feelings.

Purpose of a brand logo

Helps consumers recall the brand and advertisements and reduces shopping/search effort.

Good logo practices

Reflect the brand, use expertise/pro designers, keep it simple, make it transferable across media.

Best practice when rejuvenating a brand

Stay true to the original while making it contemporary; help former customers rediscover it and build community.

Changing a brand image

Extremely difficult; may be necessary when the target declines or image no longer fits trends. Change begins internally, then moves outward.

Serif font

Letters have small decorative strokes/"feet."

Sans Serif font

Letters do not have decorative strokes/feet.

Brand Loyalty

Consumer repeatedly purchases/preferably purchases the same brand; ultimate objective is becoming the only brand the customer purchases.

Brand Equity

Characteristics that make a brand unique and cause the brand name to be perceived as better.

Brand Parity

Consumers perceive little meaningful difference among competing brands.

How have private brands changed?

Improved quality, viewed more as value purchases, better packaging/displays, increased advertising, and used to differentiate retailers.

Why is packaging important?

Protects the product AND communicates marketing information; it is a major opportunity to grab attention at purchase.

Main purposes of packaging

Protect product, shipping/handling, shelf placement, reduce theft/tampering, convenience/portability, communicate marketing message.

Purpose of labeling

Meet legal requirements and provide marketing information; often contains logo/name and may connect consumers digitally.

Ethical/legal brand issues

Brand infringement, brand names becoming generic terms, cybersquatting, misleading claims.