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Branding (Brand identity (what it stands for from the perspective of the…
Branding
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Defining a brand
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 them from those of competitors.
In summary, a brand is a shared desirable and exclusive idea embodied in products,services,places and/or experience
Brand reputation
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‘a collective representation of a brand’s past actions and results that describes the brand’s ability to deliver valued outcomes to multiple stakeholders’ (Harris,2002)
Brand equity
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‘brand equity’ (or ‘accounting good will’) –‘the monetary value of the psychological good will which the brand has created over time’ (Kapferer,1997, p. 24)
Types of band name:
- coined
- arbitrary
- suggestive
- descriptive
- generic
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Brand content
Brand content engages consumers to relate to the brand, because it does not talk about its products, but about a domain of mutual interest between the brand and its public
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Role for consumers
- Identification
- information cues
- Trust and confidence
- help decision making
- reduce perceived risk
- associations and inferences
- emotional rewards