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Brand Management Key Terms
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Brand Equity
The value premium that a company realizes from a product with a recognizable name compared to its generic equivalent.
Brand Awareness
The extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services.
Brand Loyalty
A consumer's commitment to repurchase or otherwise continue using the brand.
Brand Extension
A marketing strategy where a firm marketing a product with a well-developed image uses the same brand name in a different product category.
Brand Identity
The collection of all elements that a company creates to portray the right image to its consumer.
Brand Image
The impression of a product held by real or potential consumers.
Brand Valuation
The process of estimating the total financial value of a brand.
Brand Positioning
The act of designing the company's offering and image to occupy a distinct place in the mind of the target market.
Brand Recall
The ability of consumers to recognize a brand name previously exposed to them, without being given the name of the brand.
Brand Recognition
The ability of consumers to confirm prior exposure to a brand when given the brand as a cue.
Brand Personality
The human characteristics attributed to a brand name.
Brand Promise
The marketer's vision of what the brand must be and do for consumers.
Brand Architecture
The structure of brands within an organizational entity.
Rebranding
The process of changing the corporate image of an organization.
Private Label Brands
Products sold by a retailer with its own packing but manufactured by a third party.
Brand Ambassador
A person who is hired by an organization or company to represent a brand in a positive light.
Co-branding
A marketing partnership between at least two different brands of goods or services.
Brand Portfolio
The collection of all brands and brand lines that a particular company offers for sale to consumers in a particular category.
Brand Differentiation
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.
Brand Communication
The various methods used to communicate a brand's identity, values, and promise to its target audience.
Brand Licensing
The leasing of a brand name to another company for an agreed period of time for an agreed fee.
Brand Revitalization
The act of repositioning a brand in order to move it back into clear positive territory regarding sales and customer perceptions.
Brand Experience
The sensations, emotions, and behavioral responses evoked by brand-related stimuli.
Brand Identity Prism
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.
Generic Brand
A type of consumer product that lacks a widely recognized name or logo because it typically isn't advertised.
Brand Salience
The degree to which a brand is thought about or noticed when a customer is in a buying situation.
Country of Origin Effect
The impact that the manufacturing country of a given product can have on consumer's perceptions and attitude towards the product.
Brand Stewardship
The act of overseeing and guiding the integrity of the brand.
Brand Alignment
The process of ensuring that all aspects of a company's operations support its brand essence and promise.
Brand Hierarchy
A means to structure the brand portfolio by organizing brands into a logical, hierarchal order.
Brand Metrics
Measurements used to gauge the performance of a brand.
Brand Commitment
The extent to which a company is devoted to a particular brand as shown by its ongoing investments in the brand.
Brand Strategy
A long-term plan for the development of a successful brand in order to achieve specific goals.
Brand Leveraging
Using the power of an existing brand name to support a company's entry into a new, but related, product category.
Brand Activism
The type of corporate social responsibility where a brand is vocal or takes a stand on social, environmental, economic, or political issues.
Ingredient Branding
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.
Brand Guidelines
The rulebook that explains how a brand should be used and ensures the brand identity is consistent in all communications.
Brand Champion
A person inside or outside of the company who is passionate about the brand and helps promote and defend it.
Emotional Branding
The practice of using the emotions of a target group to build a brand.
Brand Touchpoint
Any point of contact where a customer encounters the brand and interacts with it.
Global Brand
A brand that is marketed under the same name in multiple countries with similar and centrally coordinated marketing strategies.
Brand Erosion
The gradual loss of a brand's strength due to a decline in its reputation and market share.
Brand Stretch
The expansion of a brand beyond its original product categories, often to maximize revenue streams.
Brand Audit
A thorough examination of a brand to assess its health, uncover its strengths and weaknesses, and recommend ways to strengthen or improve its equity.
Brand Cannibalization
The negative impact of a company's new product on the sales performance of its existing products.
Brand Consistency
The practice of always delivering messages in line with the core brand values and identity.
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