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BIOL 1543: EXAM 4
Tangible elements
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Symbols, Logos, Names, Motion
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Symbols and Avatars
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are a non-word mark that have a meaning associated with a brand
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The originator and The source
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the individual or group initiating the communication process with a receiver
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Push Tactics
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ways that manufacturers produce a large number of items
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Decoding
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The process by which a person receiving a message interprets it
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Knockoffs
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Describe similar copies but are not identical to the authentic products
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NOT a step in the brand communication process?
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Advertising channel
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Brand Brief
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a written document that describes the essence of the brand such as mission and vision statement
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Consumer
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Stakeholders are a group of individuals affected by companies and business practices. This is NOT a stakeholder
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Creative brief
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visually synthesizes a brand and includes naming, logo design, brand architecture, and packaging design
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Brand architecture
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refers to the hierarchy of brands within a single company
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Endorsed brand architecture
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describes the brand as having synergy between the product name and the parent brand
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Escapist experiences
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offer a way of taking on a new persona; consumers actively participate in the events of real or virtual environment
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Criteria for choosing brand elements
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1. Memorable
2. Meaningful
3. Likable
4. Transferable
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Product Adoption process
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1. Attention
2. Interest
3. Desire
4. Action
5. Brand Loyalty
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Intangible elements
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1. Feelings
2. Services
3. Policies
4. Amenities
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3 types of experiences
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1. Product experiences
2. Shopping and service experiences
3. Consumption experiences
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Criteria for choosing Promotional Communications
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Coverage, Contribution, Commonality, Complimentary, Versitility, and Cost
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Shareholder Value
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The price investors are willing to pay for a share of stock in the company
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4 Value stages
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1. Marketing program investment
2. Customer Mindset
3. Market Performance
4. Shareholder Value
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Brand Salience
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a consumers ability to recognize or have awareness of any particular brand
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Psychographics
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AIO measures that estimate lifestyles of groups of people
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Industrial brands
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are those working in business to business enterprises
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Merchantainment
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the entertainment aspect of fashion brands
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Brand Equity
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the power of a brand lies in what consumers know about a particular brand
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Market growth phase
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is characterized by faster and more frequent sales of products
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Innovator group
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actively seeks out new and different ideas, products, and brands before anyone else
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Specialty Products
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items consumers actively and willingly seek out
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Durable goods
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items consumers do not change with frequency
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Luxury products
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items appeal to consumer emotions and state of wealth
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Brand identity
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a combination of attributes that communicate the personality of the brand
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Demographics
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the study of populations through statistical analysis of quantifiable fact
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Reducing risks
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one of the benefits of branding for consumers
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Merchandisingprocess
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sourcing goods, producing goods, distributing goods, preparing goods
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can reduce performance, physical, financial, time, and social risks
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Brand awareness and Brand image
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Consumers born from 1980 onward
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Baby boomers and Millenials
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Commodity products are items consumers generally do not spend much time or energy seeking out. T/F
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False
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Wholesaling is the sale of goods to retailers, or industrial, commercial, institutional, or other professional businesses
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True |
Brand personality is a part of the symbolic nature of brand image that may include sincerity, excitement, competence, sophistication, and ruggedness
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True |
The Industrial Revolution helped produce items in mass quantities and of consistent quality
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True |
Consumer behavior
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Obtaining, Consuming, and Disposing
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3 Dimensions of brand equity
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1. Brand awareness
2. Brand image
3. Brand loyalty
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4 Phases in Product Life Cycle
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Introduction(commercial space flights) , Growth (handheld computers and phones), Maturity (Social Networking), Decline (land-line phones, DVD rental stores)
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Quality of marketing programs
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Clarity
Relevance
Distinctiveness
Consistency
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Price premium
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the price consumers are willing to pay more to obtain any one particular brand of products
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Price elasticities
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price rises or falls
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Market share
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the percentage of total sales volume in a market captured by a brand or company
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4 Value Stages
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1. Marketing Program Investment
2. Customer Mindset
3. Market Performance
4. Shareholder Value
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Brand awareness
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Recognition and recall
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