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WSU COMSTRAT 380 - What are the key components of a brand?

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Comstrat 380 1nd Edition Lecture 5Outline of Last Lecture I. Federal Trade Commission (FTC)II. Food and Drug Administration (FDA)III. Federal Communications Commission (FCC)IV. Other regulatory bodiesV. The impact of RegulationVI. Media Review of AdvertisingVII. Self-regulationOutline of Current LectureI. Successful BrandsII. Key components of a brandIII. Brand valueIV. Leveraging brand equityCurrent LectureI. Successful Brands:a. Are distinctiveb. Create and associationc. Offer a benefitd. Carry a heritagee. Are simplef. Are often based on a distinctive graphic: logo, trademark, character, or other visual cueII. Key components of a brandThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.a. Brand image is a mental picture or idea about a company that its brand leaves you with.b. Brand personality symbolizes the personal qualities of people you know. (Personal qualities of those that use the brand and the brand itself).III. Brand Valuea. The value of branding lies in the power of familiarity and trust to win and maintain consumer acceptance.b. Brand value comes in two formsi. Value to a consumerii. Value to the corporation (brand equity)IV. Leveraging Brand Equitya. Brand extension/family: The use of an established brand name with a related lineof products. Example: Virgin (air, records, mobile phones)b. Co-Branding: Uses two brand names owned by two separate companies to createa partnership offeringc. Brand Licensing: The brand is rented to another business partner.d. Ingredient Branding: The brand name is used in manufacturing, advertising, or other


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WSU COMSTRAT 380 - What are the key components of a brand?

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