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32 Cards in this Set
- Front
- Back
Identifying the fundamental entity
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what is our branding strategy?
Brands serve many functions (promises, collection of beliefs and memories) |
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Official AMA definition of brand
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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
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4 possible branding strategies
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1. Retail/corporate brands
2. Multiple/distinct brands (distinct branding) 3. Hybrid/sub-brands 4. Umbrella brands |
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Multiple distinct brands
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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 |
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Hybrid/sub brands
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Mix of retail/corp brands and mult. distinct brands...corp brand and additional subbrands
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Umbrella brands
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One company, many problems..all give same value..like Nike?
1 brand, different product |
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Unilever, because you see it on a bunch of different products, is
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distinct branding
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A BMW going through multiple cars for different stages of life is ______ branding
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umbrella
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Kellogg business school is:
Harvard business school is: |
distinct brand
umbrella brand |
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Doritos are an example of a ____ brand
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umbrella
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Why do we see so many brand extensions? (2)
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1. consumers can alleviate boredom but stay in the family (new dorito flavors)
2. billboard effect raising attention |
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3 reasons for so many brand extensions in umbrella
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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 |
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One problem with extending the brand
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risk to dilute the brand, like cadillac or harley
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Umbrella branding is also ____ (issue)
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inflexible..nike on turkey?...damage from product failures can be quite high
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not flexible but high simplistic/flexible
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umbrella branding
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very flexible but not efficient/simplistic
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distinct branding
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managing a brand portfolio main point
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maximize market coverage ut minimize brand overlap
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Walmart 3 step of core competence
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core competence: logistics
strategic asset: low costs product (benefit): low prices |
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core competence ideally provides access to _____ _____
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multiple markets
transferable like Casio and 3m |
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4 characteristics of CC
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1. skill valuable
2. rare 3. difficult to imiate 4. transferable to different industries |
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Define business based on _______ and not ______
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define on consumer benefits instead of products
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4 different roles within a portfolio
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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) |
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Core competence is a _____ that is difficult for your competitors to imitate
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it is a skill
technological components can be imitated but you leave out implicit learning, organizational coordination and corporate culture (intangibles) |
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CORE COMPETENCE IS AN ______ AND NOT AN )______
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it is input but not output
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Selling focuses on _____
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seller needs
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Marketing focuses on______
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buyer needs
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Goal is to design products that ____
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sell themselves..focus is then more on raising awareness and making the product available moreso than active selling
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Goals (two primary purposes)
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1. simplify decision making
2. performance benchmark (need to know how actually did) |
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4 attributes of beneficial goals
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Arranged from most to least important
quantifiable whenever possible realistic consistent |
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3 ways that goals are beneficial
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committed to goal
able to attain it do not have conflicting goals |
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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? |
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consumers must _____
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drive core business definition
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