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10 Cards in this Set
- Front
- Back
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Fundamental Entity |
The brand level from which we conduct our strategic analysis; the element that distinguishes good/services of one seller from those of its competitors |
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Distinct Branding |
One firm offering several products with different meanings, brand names, and logos that are targeted to different audiences (ex. Unilever with Axe and Dove) "House of Brands" HIGH FLEXIBILITY, LO EFFICIENCY/SIMPLICITY |
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Hybrid Branding |
One company that owns a smaller brand and advertises both to the customer (ex. 3M with Post-It, Nexcare) (BMW w/ mini Cooper) --> both brand names seen on package MEDIUM FLEXIBILITY/SIMPLICITY/EFFICIENCY |
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Umbrella Branding |
"A Branded House": once consumers trust the brand, company can extend the brand to capitalize on existing feelings (product line extensions, category extensions, branded variants) HIGH EFFICIENCY/SIMPLICITY, LO FLEXIBILITY |
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Product Line Extensions |
Parent brand --> sub-Brands (ex. Doritos - Cool Ranch, Late Nite, Flaming Hot) (Law & Order variations) |
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Category Extension |
Ex. Swiss Army started as a pocket knife company and now sells clothing, watches, and fragrances |
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Branded Variants |
ex. Burberry London, Burberry Brit, Burberry New York |
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Reasons for brand extensions |
1. pricing breadth to cater to wider customer group 2. Lower cost - economies of scale 3. capitalize on placebo effects due to brand equity 4. consumers alleviate boredom but stay in family 5. Risk minimization HOWEVER: brand can be diluted as result |
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Branding Tradeoff |
Firms face trade-off between Efficiency/Simplicity and Flexibility. |
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Core Competence |
company's skill set that leads to competitive advantage input, not an output generates strategic assets requires continuous investment |
