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Brand Management Key Terms

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Brand Equity

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The value premium that a company realizes from a product with a recognizable name compared to its generic equivalent.

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Brand Awareness

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The extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services.

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Brand Loyalty

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A consumer's commitment to repurchase or otherwise continue using the brand.

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Brand Extension

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A marketing strategy where a firm marketing a product with a well-developed image uses the same brand name in a different product category.

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Brand Identity

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The collection of all elements that a company creates to portray the right image to its consumer.

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Brand Image

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The impression of a product held by real or potential consumers.

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Brand Valuation

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The process of estimating the total financial value of a brand.

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Brand Positioning

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The act of designing the company's offering and image to occupy a distinct place in the mind of the target market.

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Brand Recall

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The ability of consumers to recognize a brand name previously exposed to them, without being given the name of the brand.

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Brand Recognition

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The ability of consumers to confirm prior exposure to a brand when given the brand as a cue.

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Brand Personality

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The human characteristics attributed to a brand name.

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Brand Promise

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The marketer's vision of what the brand must be and do for consumers.

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Brand Architecture

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The structure of brands within an organizational entity.

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Rebranding

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The process of changing the corporate image of an organization.

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Private Label Brands

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Products sold by a retailer with its own packing but manufactured by a third party.

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Brand Ambassador

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A person who is hired by an organization or company to represent a brand in a positive light.

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Co-branding

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A marketing partnership between at least two different brands of goods or services.

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Brand Portfolio

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The collection of all brands and brand lines that a particular company offers for sale to consumers in a particular category.

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Brand Differentiation

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The means by which your brand is set apart from the competition, by associating a superior performing aspect of your brand with multiple customer benefits.

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Brand Communication

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The various methods used to communicate a brand's identity, values, and promise to its target audience.

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Brand Licensing

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The leasing of a brand name to another company for an agreed period of time for an agreed fee.

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Brand Revitalization

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The act of repositioning a brand in order to move it back into clear positive territory regarding sales and customer perceptions.

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Brand Experience

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The sensations, emotions, and behavioral responses evoked by brand-related stimuli.

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Brand Identity Prism

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A framework created by Jean-Noel Kapferer that includes six facets to help define a brand's identity: physique, personality, culture, relationship, reflection, and self-image.

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Generic Brand

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A type of consumer product that lacks a widely recognized name or logo because it typically isn't advertised.

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Brand Salience

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The degree to which a brand is thought about or noticed when a customer is in a buying situation.

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Country of Origin Effect

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The impact that the manufacturing country of a given product can have on consumer's perceptions and attitude towards the product.

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Brand Stewardship

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The act of overseeing and guiding the integrity of the brand.

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Brand Alignment

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The process of ensuring that all aspects of a company's operations support its brand essence and promise.

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Brand Hierarchy

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A means to structure the brand portfolio by organizing brands into a logical, hierarchal order.

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Brand Metrics

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Measurements used to gauge the performance of a brand.

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Brand Commitment

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The extent to which a company is devoted to a particular brand as shown by its ongoing investments in the brand.

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Brand Strategy

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A long-term plan for the development of a successful brand in order to achieve specific goals.

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Brand Leveraging

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Using the power of an existing brand name to support a company's entry into a new, but related, product category.

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Brand Activism

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The type of corporate social responsibility where a brand is vocal or takes a stand on social, environmental, economic, or political issues.

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Ingredient Branding

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A specific kind of brand alliance where an ingredient or component of a product is branded and this brand is used to promote the overall product.

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Brand Guidelines

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The rulebook that explains how a brand should be used and ensures the brand identity is consistent in all communications.

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Brand Champion

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A person inside or outside of the company who is passionate about the brand and helps promote and defend it.

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Emotional Branding

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The practice of using the emotions of a target group to build a brand.

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Brand Touchpoint

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Any point of contact where a customer encounters the brand and interacts with it.

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Global Brand

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A brand that is marketed under the same name in multiple countries with similar and centrally coordinated marketing strategies.

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Brand Erosion

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The gradual loss of a brand's strength due to a decline in its reputation and market share.

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Brand Stretch

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The expansion of a brand beyond its original product categories, often to maximize revenue streams.

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Brand Audit

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A thorough examination of a brand to assess its health, uncover its strengths and weaknesses, and recommend ways to strengthen or improve its equity.

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Brand Cannibalization

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The negative impact of a company's new product on the sales performance of its existing products.

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Brand Consistency

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The practice of always delivering messages in line with the core brand values and identity.

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