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Terms in this set (20)
2 Effects of Brands
Price- You can ask for a price premium
Sales- You can sell more units.
Brand Functions from a consumer perspective
Brand (traditional, PRODUCT centered definition)
A name, term, design, symbol, or any other feature that IDENTIFIES one seller's good good or service as distinct from those of other sellers.
Brand (Modern, CUSTOMER centered definition)
The ASSOCIATIONS that consumers have with something that can be managed professionally (e.g. a product, service, a person, name, design, term, symbol, or any other feature)
the differential effect that the KNOWLEDGE about a brand and the ENGAGEMENT towards it have on consumer responses to the marketing of that brand.
Ability to IDENTIFY the brand under different conditions
Strength and existence of a brand link between nodes (how well do the brand elements serve their function)
PERCEPTIONS about a brand as reflected by the brands ASSOCIATIONS in a consumer's memory
Kind of associations
A consumers ability to CONFIRM PRIOR EXPOSURE to the brand when given the brand as a sensory cue.
A consumer's ability to RETRIEVE THE BRAND when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue.
Descriptive features that characterize a brand (e.g. the service or product)
related to the core elements of a product/services' existence or performance (product related) attributes
Related to every other element of the brand, its marketing, its usage (e.g. price, processing, user image, and usage image (brand personality)- non-product related attributes.
The value a consumer associates with a brand and its usage (can be functional, emotional, and social)
Attitudes (about brand)
overall evaluation of a brand
"The act of designing the company's offer and image so that it OCCUPIES A DISTINCT VALUED PLACE in the target CUSTOMER's MINDS"
Points of Difference Positioning (differentiation positioning)
Seeks to distinguish the brand from competitor brands concerning the most important and salient dimensions.
Points of Parity positioning (similarity positioning)
Strives for a position in which the brand has the same characteristics as the competitor brand (s) concerning the relevant positioning dimensions.
using this approach, companies seek to profit off of the halo effect of extremely strong brands.
shared associations help to establish category membership (e.g. Mercedes is a brand that belongs to a group of luxury car brands.)
Broad definition of positioning
... means identifying and ESTABLISHING POINTS OF PARITY and POINTS OF DIFFERENCE to establish the "RIGHT" BRAND IMAGE
is a graphical representation of the (actual and/or intended) position of a brand.
Based on the actual OWN and COMPETITORS' positions as well as the relevance of the dimensions from the CUSTOMERS' PERSPECTIVES
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