Please enable JavaScript.
Coggle requires JavaScript to display documents.
Reading 22 - Introduction to branding - Coggle Diagram
Reading 22 - Introduction to branding
Defining a brand
name/sign etc to identify goods or service
identifiable product - that buyer percieves value that match needs
role of communities - cannot ve narrowed to benefit - needs community
people and places can also be brands
key concepts
brand identity
brand identity - brand from perspective of org - brand image - brand perspective from people outside the organisation
can be mismatch between the two - owing to noise in communication and other influences - orgs cannot control external factors so focus on brand identity
brand identity - has 6 facets of a prism
physique
personality
culture
relationship
reflection
reflection
self-image
each facet - few words - strong words, different words for each one
Brand reputation
external perseptions of a brand through different stakeholders
Brand Equity
the monetary value of the psychological goodwill that the brand has created
brand recognition, spontaneous recall being part of customer consideration set + consumption
Brand content
engages customers to relate to brand - does not talk about its products - does not talk about products but mutual interest between brand and consumer
Role of brands for organisations
play a number of roles
garantee future income
enable premium pricing
deter market entry
facilitate own entry into markets
increase bargaining power to distributors
comment royalties through liscensing
communication device to consumers
benefit sales through identification and familiarity among consumers
encourage customer loyalty
Role of brands to consumers
facilitate identification and cost
cues to infomation
facilitate customers decision making
inspire trust and increase consumer confidence
reduce percieved risk of perchase
communicate brand associations/ brand inferences
stimulate emotional rewards
Brand architecture and naming
4 categories of brand name formation
company as brand name
strong company endorsment
weak company endorsmaent
individual brand name
mixed
4 types of brand name
coiined- made up
arbitrary - existing word
suggestive - infers benefit
descriptive - describes characteristics
generic - synomous with category
5 step process in brand naming
specifying objectives
creating candidate brand names
evaluation of candidate brand names
choice of a brand name
trademark regisration
Logos
arguments the distinctiveness and help to make them recognisable
Packaging and labelling
contribute to communications and perceptions of brands - feed into customers decision making
secure - gives security to consumers