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MKTG7502
Branding
| What is the importance of Brands to Firms? | 1.Identify prod simplify handling/tracing 2.Legal protection - trademarks, copywrite 3.Can be bought/sold 4.Source of financial returns 5.Signal quality level 6.Endows prods w unique associations 7.Source of competitive advantage 8.Investment |
| What is the importance of Brands to Consumers? | 1.Identify of prod maker 2.Assign responsibility to prod maker 3.Risk reducer 4.Reduce search costs 5.Promise, bond, pact with product maker 6.Signal of quality |
| What are the 3 models used for identifying and developing Brand plans? | 1.Brand positioning model 2.Brand resonance model 3.Brand value chain |
| Define Brand positioning. | 1.Develop Brand plan 2.Implement program 3.Measure/interpret performance 4.Grow/sustain Brand equity |
| Give an example of failed Brand extension. | 1.Current Brand knowledge 2.Desired Brand knowledge 3.Communication - how does communication option help B get from current to desired knowledge with customers? |
| What is the process for positioning of a Brand? | 1.Define the competitive frame of reference 2.Establish PODs and POPs 3.Straddle positions 4.Develop positioning |
| Give examples of negatively correlated attributes and benefits. | 1.Low price v high quality 2.Taste v healthy 4.Strong v refined 5.Ubiquitous v exclusive |
| What is the desired flow of the CBBE? | 1.Deep, broad awareness 2.Establish points-of-difference 3.Positive, accessible reactions 4.Intense, active loyalty |
| What is a brand mantra used for? In a 3-word brand mantra give an example and explain the 3 types of words. | Used for internal branding 1.Emotional modifier (word 1) (e.g. Fun) 2.Descriptive modifier (word 2) (e.g. Family) 3.Brand function (word 3) (e.g. Entertainment) |
| In the CBBE model what are the elements of Brand awareness (salience)? | 1.Depth of awareness – ease recognition/recall, strength/clarity awareness in prod category 2.Breadth of awareness – number diff contexts (eg domestic, international, business, holiday travel) |
| In the CBBE model what are the elements of Brand performance? | 1.Primary characteristics, additional features 2.Product reliability, durability, serviceability 3.Service effectiveness, efficiency, empathy 4.Style/design 5.Price |
| In the CBBE model what are the elements of Brand imagery? | 1.User profiles - demographic, psychographic (actual or aspirational) 2.Purchase and usage situations 3.Personality/values 4.History, heritage, experiences |
| What are the main types of Brand personality? | 1.Sincerity - down-to-earth, wholesome, cheerful 2.Excitement - daring, spirited, imaginative, up-to-date 3.Competence - reliable, intelligent, successful 4.Sophistication - upper class, charming 5.Ruggedness - outdoorsy, tough |
| In the CBBE model what are the Judgement dimensions? | 1.Brand Quality – value, satisfaction 2.Brand Credibility – expertise, trustworthiness, likability 3.Brand Consideration – relevance to customer 4.Brand superiority – differentiation (eg uniqueness) |
| In the CBBE model what are the Feelings dimensions? | 1.Warmth - immediate 2.Fun – immediate 3.Excitement - immediate 4.Security – private/enduring 5.Social approval - private/enduring 6.Self-respect – private/enduring (hardest to measure) |
| In the CBBE model what are the Resonance dimensions? | 1.Loyalty – frequency/amount repeat purchases 2.Attachment – love, pride 3.Sense community – kinship, affiliation 4.Active engagement – seek info, join club, visiting online |
| What are the important aspects to consider for building a Brand? | 1.Customers own brands 2.Don’t take shortcuts with brands 3.Brands should have a duality – head (performance, judgement) and heart (imagery, feelings) 4.Brands should have richness 5.Brands should have a long-term focus |
| What are the value stages of the Brand Value Chain? | 1.Marketing Program investment 2.Customer mindset – 5 As 3.Market performance – profit, market share 4.Shareholder value – stock price, market cap, P/E ratio |
| Describe the program quality multiplier in the Brand Value Chain model. | DRIVE 1.Distinctiveness 2.Relevance 3.Integrated 4.Value 5.Excellence |
| Describe the customer mindset in the Brand Value Chain model. | 5 As 1.Awareness 2.Associations 3.Attitudes 4.Attachment 5.Activity |
| Describe the marketplace conditions multiplier in the Brand Value Chain model. | 3 Cs 1.Competitive reactions 2.Channel support 3.Customer size/profile |
| Describe the investor sentiment multiplier in the Brand Value Chain model. | 1.Market dynamics 2.Growth potential 3.Risk profile 4.Brand contribution |
| What are the criteria for choosing Brand elements? | 1.Memorable – easily recognised/recalled 2.Meaningful – credible, suggestive, rich imagery 3.Adaptable – flexible, updatable 4.Likable – fun, interesting, attractive 5.Protectable – legal, competition 6.Transferrable – prod categories, countries/cult |
| What are some common mistakes in developing advertising? | 1.Positioning not communicated 2.Wrong assumption consumer knowledge 3.Failure break through clutter 4.Distracting, overpowering creative ads 5.Underbranded ads 6.Changing campaigns too often 7.Substitute ad frequency for ad quality |
| What are the main marketing communication options? | 1.Advertising - TV, radio, print, direct response, place 2.Promotion – consumer (B2C), trade (B2B) 3.On-line marketing – websites, on-line ads & videos, social media 4.Events and experiences 5.Mobile marketing – smartphone ads/apps, geotargeting |
| What are the sources for leveraging secondary associations? | 1.People – endorsers, employees 2.Things – events, causes, third-party endorsements (eg magazines) 3.Places – country of origin, channels (eg distribution channels, store image) 4.Other Brands (co-branding) – alliances, ingredients, company, extensions |
| What secondary associations can be transferred? | 1.Awareness 2.Attributes 3.Benefits 4.Images 5.Thoughts 6.Feelings 7.Attitudes 8.Experiences |
| What is Q-Score? | Celebrity, Brand, company, TV show, other can have Q-score. People asked to rate the following: A One of my favourites; B Very good; C Good; D Fair; E Poor; F Never heard of. Q-Score = (A x 100)/(A+B+C+D+E) |
| What are the two components of a Brand audit? | 1.Brand Inventory - marketing mix for all Bs in company 2.Brand Exploratory - consumer research |
| Give an example of Brand hierarchy levels. | 1.Corporate Brand eg Samsung 2.Family Brand eg Galaxy 3.Individual Brand eg S series 4.Modifier: Item or Model eg S4 |
| Describe important factors for designing Brand hierarchy. | 1.Decide # levels – few levels better, logical relationship all B elements obvious/transparent 2.Decide awareness & types assocs at each level – relevance, differentiation 3.Decide how link B at diff levels, prominence 4.Decide how link B across prods |
| What does the Brand-Product Matrix look like? | 1.Brands(rows) – line & category extensions 2.Product-lines (columns) |
| Describe some important aspects for managing Brand portfolios. | 1.Multi-branding - several Bs in a category targeting diff segments 2.Max coverage markets/segments & min overlap in market/segment 3.Portfolio too big – increase profits by dropping Bs 4.Portfolio too small – increase profits by adding B |
| What are the Brand Architecture Guidelines? | 1.Adopt strong customer focus 2.Create broad, robust Brand platforms 3.Ovoid overbranding (too many Brands) 4.Selectively employ Sub-Brands 5.Selectively extend Brands |
| What are the types of Brand Extensions? | 1.Line extension – current B used to enter new market segment in existing prod class (eg new varieties, flavours, sizes) 2.Category extension – current B used to enter new prod class (eg Harvard University Press) |
| What are the advantages of Brand Extensions? | 1.Reduce risk perceived by customers 2.Increase chance grain distribution 3.Increase efficiency promotion 4.Avoid cost develop new B 5.Reinforce/enhance parent B image |
| What are the disadvantages of Brand Extensions? | 1.Can cannibalize sales parent B 2.Can hurt image parent B (if unsuccessful, wrong image) 3.Forego chance develop new B 4.Can confuse/frustrate customers 5.Can dilute B meaning |
| Describe the types of qualitative measurement of Brand equity. | 1.Free associations - open questions (respondents may not reveal true feelings, attitudes, thoughts) 2.Projective techniques – bubble exercises 3.Comparison tasks – comparing Bs to people, cars, occupations, other Bs 4.Ethnographic/experiential techniq |
| What are the key elements of a Brand charter? | 1.Formalises company view of Brand equity 2.Provide guidelines 3.Updated annually |
| Describe some major marketing challenges. | 1.Increased customer cynicism – 80% customers believe companies lie/don’t deliver on advertising 2.Unhappy customers can use social networking 3.Burning all channels – too much advertising, more media choice |
| What is the Net Promoter Score (NPS)? | 1.Detractors – 0-6 (irritated, neglected, unsatisfied, frustrated, disappointed, unhappy, hurried, confused) 2.Passives – 7, 8 3.Promoters – 9, 10 (safe, valued, trusted, pleased, delighted, impressed) 4.NPS = % Promoters - % Detractors (Top score 50-7 |
| How to improve Net Promoter Score (NPS). | 1.Identify top drivers 2.Develop solutions - neutralise detractors 3.Make improvements |
| What are the common elements of NPS Loyalty Leaders? | 1.Engaged staff & executive 2.Pay staff more 3.Spend less on promotions (advertising) 4.Continuously act on customer feedback 5.Short strategic conversions 6.Customer experience, engagement and retention 7.Enjoy long-term growth |
| What are the important ingredients in the Total Engagement Model? | 1.Vision 2.Mission 3.Values 4.Customer Value Proposition (CVP) 5.Customer Experience |
| Describe the employee categories in the Total Engagement Model. | 1.Weak links – don’t understand/not committed to company strategy 2.Bystanders – understand/not committed to company strategy 3.Loose cannons - committed/don’t understand company strategy 4.Champions - understand/committed to company strategy |
| Give an example of a successful Brand extension. | Virgin – Virgin Records - line extensions other record labels, category extensions airlines (Virgin Australia, Virgin Atlantic Airways), Financial institutions (Virgin Money Australia), others (Virgin Health Bank, Virgin Wines Australia) |
| What are the important requirements for choosing a celebrity for endorsements? | 1.Well known to improve awareness/image of B 2.Rich set of potentially useful associations, judgements, feelings 3.Credible, trustworthy, likable, attractive 4.Transferrable associations relevant to B |
| What are the disadvantages of celebrity endorsement? | 1.Overexposure celebs to too many Bs 2.Bad behaviour, fail expectations 3.Expensive 4.Endorsement for money - add sig/unnecessary cost 5.Celebs - not follow marketing direction of B (use competitor Bs) 6.B can become over-reliant on celeb endorsement |
| Describe some of the history of McDonalds. | 1.US, 1950s, fast food chain 2.Market penetration/development strategies - worldwide (menus suit tastes) 3.World’s largest fast food co. 4.Target for environmentalists (packaging), nutritionists (obesity problem); sales growth/market share fell |
| Describe the change in marketing strategy by McDonalds. | 1.2003, focus change - quality, service & rest experience, not cheap, convenient 2.Halt rapid expansion, focus prod development w improved food (healthy options), service (24h), atmosp (plants, internet, TV, playground) 3.Diversification - open McCafe |
| What was McDonalds' old mission statement and what is McDonalds' new mission statement? | Mission changed from “being the world’s best quick-serve restaurant” to “being our customer’ favourite place & way to eat” |
| What are the segments targeted by McDonalds Australia? | 1.Demographic - kids, families, tourists, students 2.Psychographic - convenience, lifestyle 3.Behavioural - occasions eg birthday parties for kids |
| What are the PODs and POPs for McDonalds Australia? | 1.PODs - top of mind awareness, great report with kids (toys w food, playgrounds, activities), healthy food options, McCafe’ often incorporated, open 24 h. 2.POPs - fast service, cheap prices, still supply hamburgers, wireless internet, TVs, value meals |
| What is the current positioning of McDonalds Australia? | Quality, service & restaurant experience |
| What are some Brand elements of McDonalds? | 1.Character - Ronald McDonald 2.Symbol and logo - golden arches 3.Slogan - “I’m lovin’ it” |
| Describe the positive aspects for McDonalds using Shane Warne as a Brand ambassador. | 1.Well known - raise awareness 2.Main image transferred - sports hero, active, healthy, fits w McDonalds’ positioning 3.Warne is strong role model and is idolised by many kids, which is a main segment targeted by McDonalds |
| Describe potential problems with McDonalds using Shane Warne as a Brand ambassador. | 1.Could backfire - common attitude that McDonalds still selling mostly junk food, not good to associate w sport, fitness, health, particularly targeting kids 2.Could backfire - if Warne displays bad behaviour, which he has done in the past eg infidelity |
| What are the PODs and POPs for Apple? | 1.PODs - technological innovation, user-friendly design, exceptional Brand loyalty (cult-like) 2.POPs - price, many of the functions (eg phone calls, SMS, internet) |
| What is the current positioning of Apple? | Social, fun activities (eg music, camera), innovation, user-friendly devices |
| Describe some Brand associations for Apple. | 1.User-friendly 2.Innovative 3.Cool 4.Creative 5.Fun |
| Describe a basic Brand-product matrix for Toyota Australia. | 1.Yaris, Corolla, Camry, Prius – passenger 2.Kluger, Landcruiser, RAV4 – 4WD/AWD 3.HiAce, HiLux – commercial |
| What is a Brand? | A Brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate to differentiate them from those of competition." |
| How is Brand performance measured and interpreted? | 1.Brand audits 2.Brand tracking studies 3.Brand value chain used for financial measurement 3.These fit into the Brand equity management system |
| What are the new Branding challenges? | 1.Increase competition 2.Increased number of Brands 3.Decreased effectiveness of traditional marketing tools 4.Increased costs 5.Greater financial accountability for marketing in general |
| What is the definition of customer-based Brand equity? | The differential effect that brand knowledge has on customer response to the marketing of that brand. |
| What is the definition of positioning? | Act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customers’ minds |
| What are the POD criteria? | Strong, favourable and unique brand associations Consumer desirability criteria 1.Relevant 2.Distinct 3.Believable Deliverability criteria 4.Feasible 5.Communicable 6.Sustainable |
| What are the POP criteria? | 1.Necessary 2.Competition neutralising |
| What are the multipliers of the Brand Value Chain? | 1.Program multiplier - DRIVE 2.Customer multiplier - 3 Cs 3.Market multiplier - market dynamics, risk profile |
| Where does the CBBE model fit into the Brand Value Chain model? | Customer mindset |
| Describe the ladder for the CBBE model. | 1.Identity = Who are you? 2.Meaning = What are you? 3.Response = What about you? 4.Relationships = What about you and me? |
| What are the 2 main types of secondary associations? | 1.Response-type associations - judgements (especially credibility), feelings 2.Meaning-type associations - product/service performance/imagery |
| What are the advantages of using secondary associations? | 1.Leverage equity you don't have 2.Expand Brand meaning 3.Borrow needed expertise 4.Reduce cost of product introduction |
| Define Brand equity management system. | A brand equity measurement system is a set of research procedures designed to provide timely, accurate and actionable information for marketers for tactical and strategic decisions. |
| What is the simple test for marketing communication effectiveness? | Determine how the communication option helps the Brand get from current to desired knowledge with customers. |
Created by:
craig.muldoon
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