Definitions of Terms for Topic 10

1. Brand- it is the combination of unique qualities of a company, product, or product line.

2. Branding- is a marketing strategy used to build brand recognition.

3. Brand equity-is the value that a company realizes from having a product with a recognizable name.

4. Brand awareness- the extent to which a brand is recognized and associated with a specific product or
service.

5. Brand loyalty- is the consumer’s commitment to purchase one brand over all other brands.

6. Viral branding- attempts to reach target customers by creating a “buzz” about a brand through online
word-of-mouth advertising.

7. Social Media Sites- an online platform used by consumers to spread the word about a product or
service.

8. Emotional branding- linking a product’s image to emotion.

9. Generic Brand- is a no-name product that competes with brand-name products. Also known as
private brands or store brands.

10. Positioning- is the process of creating a unique image or identity for a brand to distinguish it from
competing brands.

11. Benefit positioning- which involves selecting one or more attributes (features) or benefits that are
important to consumers and are the basis for making purchasing decisions.

12. Usage positioning- associates a product with a group of consumers and their lifestyle. Often involves
celebrity or athlete endorsements that project a desired image of those who use the product.

13. Quality Positioning- it emphasizes low or competitive prices.

14. Competitor Positioning- focuses on the difference between a company’s product and well-known
competing products.

15. Repositioning- involves changing consumers’ perceptions about a brand.