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32 Cards in this Set

  • Front
  • Back
Identifying the fundamental entity
what is our branding strategy?
Brands serve many functions (promises, collection of beliefs and memories)
Official AMA definition of brand
A name, term, sign, symbol, or design or a combination of them, intended to identify the goods or services of one seller and to differentiate them from those of competitors
4 possible branding strategies
1. Retail/corporate brands
2. Multiple/distinct brands (distinct branding)
3. Hybrid/sub-brands
4. Umbrella brands
Multiple distinct brands
Opposite of retail/corporate (only one type of product benefit..like discount and walmart)..one company sells many different brands with different names

every product, own brand
Hybrid/sub brands
Mix of retail/corp brands and mult. distinct brands...corp brand and additional subbrands
Umbrella brands
One company, many problems..all give same value..like Nike?

1 brand, different product
Unilever, because you see it on a bunch of different products, is
distinct branding
A BMW going through multiple cars for different stages of life is ______ branding
umbrella
Kellogg business school is:
Harvard business school is:
distinct brand
umbrella brand
Doritos are an example of a ____ brand
umbrella
Why do we see so many brand extensions? (2)
1. consumers can alleviate boredom but stay in the family (new dorito flavors)

2. billboard effect raising attention
3 reasons for so many brand extensions in umbrella
1. pricing breadth (get person to pay more)

2. low cost-need to create awareness of new product and not brand...reduced production/packaging/mkt research costs...about 30 million to launch brand successfully and 5 million for extension

3. capitalize on placebo effects
One problem with extending the brand
risk to dilute the brand, like cadillac or harley
Umbrella branding is also ____ (issue)
inflexible..nike on turkey?...damage from product failures can be quite high
not flexible but high simplistic/flexible
umbrella branding
very flexible but not efficient/simplistic
distinct branding
managing a brand portfolio main point
maximize market coverage ut minimize brand overlap
Walmart 3 step of core competence
core competence: logistics
strategic asset: low costs
product (benefit): low prices
core competence ideally provides access to _____ _____
multiple markets

transferable like Casio and 3m
4 characteristics of CC
1. skill valuable
2. rare
3. difficult to imiate
4. transferable to different industries
Define business based on _______ and not ______
define on consumer benefits instead of products
4 different roles within a portfolio
1. low-end entry level

2. high end prestige (nice cars)

3. flanker/fighter brands (like coke's response to crystal pepsi..can use a fighter to insultae the original brand from the fray..to make crystal pepsi not steal share)

4. cash cows (no marketing support but still doing well..like random dumb brands of gillette razors)
Core competence is a _____ that is difficult for your competitors to imitate
it is a skill

technological components can be imitated but you leave out implicit learning, organizational coordination and corporate culture (intangibles)
CORE COMPETENCE IS AN ______ AND NOT AN )______
it is input but not output
Selling focuses on _____
seller needs
Marketing focuses on______
buyer needs
Goal is to design products that ____
sell themselves..focus is then more on raising awareness and making the product available moreso than active selling
Goals (two primary purposes)
1. simplify decision making
2. performance benchmark (need to know how actually did)
4 attributes of beneficial goals
Arranged from most to least important

quantifiable whenever possible

realistic

consistent
3 ways that goals are beneficial
committed to goal

able to attain it

do not have conflicting goals
4 fundamental questions that marketing managers have to ask

important
1. who are we?

2. what are we uniquely good at?

3. what business are we i?

4. what are we trying to acheve?
consumers must _____
drive core business definition