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There are two types of awareness: spontaneous, which measures the percentage of people who spontaneously mention a particular brand when asked to name brands in a certain category; and prompted, which measures the percentage of people who recognise a brand from a particular category when shown a list. Brand A brand is the identity of a product or a service. It is a mixture of attributes, tangible and intangible, which, if managed properly, creates value and influence. "Value" has different interpretations: from consumer perspective it is "the promise and delivery of an experience"; from a business perspective it is "the security of future earnings”." Brands help customers identify and differentiate the goods & services of a particular seller from another. Brand Architecture is a description of how an organization structures and names the brands within its portfolio. As per David Aaker’s Brand Relationship Spectrum there are three main types of brand architecture system: monolithic/branded house, where a single master brand is used on all products and services offered by the company; endorsed, where all sub-brands are linked to the master brand by means of either a verbal or visual endorsement; and freestanding/house of brands, which involves an independent set of standalone brands each focusing on maximising the impact on a market. Brand Associations The feelings, beliefs and knowledge that consumers (customers) have about brands. These associations are formed over a period of time as a result of experiences and must be consistent with the brand positioning. As per Van Der Berg’s Brand Asset Concept, consumers have endless number of brand related associations in their heads. All of these associations may not be relevant to a brand. On the other hand, some of these associations may fall under the core concept but may not drive purchase behaviour. As a result, they are not a part of the brand’s mental assets. A brand’s mental asset is that one big thing consumers associate the brand with and which drives purchase behaviour – VOLVO (Safety). Core Concepts are relevant associations that help position the identity of a brand in people’s minds. Core concept tells a consumer what a brand stands for. Brand Associations are all the brand related associations in the minds of a consumer. Brand Commitment The degree to which a customer is committed to a given brand meaning that they are likely to re-purchase/re-use the brand in the future. The level of commitment indicates the degree to which a customer is loyal towards the brand. It also helps to identify the difference between customers and fans of a brand. Brand Earnings The share of a brand-owning business’s revenue that can be attributed to the brand. Brand Equity A set of assets and liabilities linked to a brand that adds or subtracts value provided by a product or a service to a firm and its customers. It is the knowledge of the brand that creates a differential impact on consumer responses towards the marketing of that brand. Brand Essence The brand’s promise expressed in the simplest form. It communicates to the customer what the brand stands for. Brand Experience The cumulative brand impressions generated from various encounters with the brand. These encounters maybe controlled i.e. advertising, retail, websites and uncontrolled i.e. PR, WOM etc. Strong brands arise from consistent experiences which create a differentiated experience for the user.
Brand Licensing The leasing of a brand by its owner to another company. Brand Platform consists of Brand Vision is the long term strategic position that the brand will take in the market and in the minds of the consumers. price. Brand Tone of Voice – How the brand speaks to its audience.Brand Extension Leveraging the equity associated with the brand and taking the brand to new markets/sectors. Brand Positioning is the art of designing the brand’s position and image. packaging etc. different brands in the same category are perceived to be. For product brands. different and valued place in the minds of the target customers. . behaviour and symbolism. no real difference between brands is perceived whereas in the passenger car industry. levels of satisfaction etc. Brand Image on the other hand is the subjective image a group of consumers has towards the brand. Brand Strategy is the cunning plan that a brand needs to develop in order to reach from the position where it is to the position where it intends to be. The brand strategy should be rooted in the brand's vision and driven by the principles of differentiation and sustained consumer appeal. It means assigning human characteristics to a brand so as to achieve differentiation. the intangibles are the retail environment. Usually a licensing fee or a royalty rate is charged for the same. visual identity and positioning across markets. is expressed in terms of human traits it creates brand personality. Brand Personality acts as a differentiator in a cluttered market with every brand offering the same functional benefits. It is a way a brand speaks and behaves. improving and sustaining the tangible and intangible aspects of a brand. It is the way a consumer perceives a brand. Brand Identity is the way a brand presents itself in advertising. quality of people. Eg – In the petrol industry. and the intangibles are the emotional connection a brand enjoys with its customers. brand differentiation is high. honest and optimist. Brand Personality which is the character of the brand. the tangibles are product. It is the perception that the company wants to create about the product or a service in the minds of consumers. Brand Harmonisation Ensuring that all products in a particular brand range have a consistent name. For a service brand. and the intangibles are the emotional connection a brand enjoys with its customers. When brand identity. so that it occupies a distinct. Brand Mission is to create customers that will drive the brand forward Brand Values are the core values that define the brand. Brand Management is the art of managing. Brand Parity is a measure of how similar or different. Brand Parity varies widely from industry to industry. Brand Personality is the character of a brand. The personality of brand Dove is feminine.
to take advantage of the price differentiation. Differentiation Creation of unique characteristics in a brand that differentiates it from competition. The art of creating brands is called branding. Diversion When a genuine product is sold to a buyer in one market and then resold by the same buyer in another market. that begins with marketing activities to create an image about the brand. service or venture. which in turn creates brand equity and provides economic value. to create a brand. Consumer Products Goods or Services purchased for private use by a household. Launch The initial marketing of a new product in a particular market. the utility a product offers a buyer. Branding is the art of selecting and blending tangible and intangible attributes to differentiate the product.Brand Valuation is the process of identifying and measuring the value a particular brand brings to the organization. Co-Branding The use of 2 or more brand names in support of a new product. Functionality The tangible benefits a product offers a buyer. It is an entire process. . Counterfeiting When an organization produces a product that looks like a branded product and is packaged and presented in a manner to deceive the customer. without the consent of the brand owner. meaningful and compelling way. Core Competencies A company’s particular areas of skill and competence. Differentiator Any tangible or intangible characteristic used to distinguish a product / service. Brand Value Chain is a structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create brand value. Country of Origin The country from which a given brand comes. Customer Equity is the lifetime value of a customer. service or corporation in an attractive. Differential Product Advantage A feature of a product that is valuable to customers and is not found in any other product in that category. It calculates the revenues a customer brings to a brand from both direct and indirect sources.