Branding Strategy And Consumer Behavior

Front 1

Acquisition Strategies

Back 1

focus on attracting new customers

Front 2

attribute loyalty

Back 2

the strong preference for a specific attribute ( can create brand-switching)

Front 3

brand entry strategy

Back 3

how firm plans to bring the brand products into the market

Front 4

brand equity

Back 4

the value that a brand accrues based on the goodwill attached to associations with the brand name

Front 5

brand extension

Back 5

different products with the same brand name ( coke, vanilla coke and cherry coke)

Front 6

brand loyalty

Back 6

the strong preference for a specific brand

Front 7

cannibalization

Back 7

the sales of one product on the line may " eat up" or reduce sales of another product on the same line

Front 8

channel length

Back 8

the number of intermediaries ( e.g. wholesalers, distributors, and retailers)

Front 9

confirmation bias

Back 9

When people find it easier to identify and interpret information that supports their beliefs as opposed to information that fails to do so

Front 10

continuity pricing

Back 10

encourages current users to continue using a brand, by offering a lower price for multiple units of a product

Front 11

differentiating advertising

Back 11

advertising that emphasizes the differences in quality among brands

Front 12

diffusion of innovation

Back 12

the rate at which a new product spreads or is adopted across the marketplace and differs among product categories

Front 13

proactive strategy

Back 13

when firms develop many new products and try to be first in the race to the market

Front 14

reactive strategy

Back 14

When firms wait to see what competitors offer and then develop me-too or copy cat brands

Front 15

Pioneering brand advantage

Back 15

first brands that enter the market of often enjoy a long-term preference advantage over copycat brands

Front 16

Brand resonance

Back 16

refers to a consumer's intense and active loyal relationship with a brand

Front 17

The Young & Rubicam Brand Asset Valuator

Back 17

an instrument that uses a set of scales to measure differentiation ( How unique is the brand? ) relevance ( how useful is the brand) , and knowledge ( does the brand have a clear and consistent image?)

Front 18

incremental theorist

Back 18

consumers who believe that the world is malleable or that change is possible

Front 19

entity theorist

Back 19

consumers who believe that the world is rigid or fixed and that change is nearly impossible

Front 20

source of volume

Back 20

where future purchases will come from

Front 21

retention strategies

Back 21

focus on keeping current customers

Front 22

loyalty programs

Back 22

provide rewards for repeat purchases

Front 23

pricing strategies- trial pricing and continuity pricing

Back 23

trial pricing= a large discount on a single unit of a particular brand