Flashcards

Number of flashcards in this category: 13.

1.
brand image
Can be built by identificational markers of the product (e.g. bottle shape, or text fontface), associations with the actual product (high quality, refreshing), gender (Dove vs. Zest), age, social class, place.
2.
Torro Snowblower
- Importance of inferences. Named product "snowpup", didn't work. Renamed to "Snowmaster" and dominated market.

3.
calculating value of a brand
Subtract real estate, inventory. Coke = $65B, Microsoft/IBM = $57-8B.

Value of a brand is measured by willing to pay x amount more than generic, or how willing to go out of way to find branded.
4.
tests for brand name
say
spell
read
remember
5.
brand recognition
When recognize a brand, have a relationship with it.
Can be positive (Oh, I know this brand. it's great!) or negative (Oh, I know this brand. I don't use it.)

Two way risk: once recognized, have opinions about it.
6.
brand relationships
Consumers have a contract with a brand. They buy, expect value and what they see the brand as standing for. Brand gets their loyalty.
7.
four "fit" tests for brand
- fits target market (age/gender)
- highlights product benefits (e.g. FedEx and fast)
- culture (where sold, ex. Chevy Nova sounds like "no-go" in Spanish)
- legal (can only have one trademark within a product category, like Apple Records and Apple Computer)
8.
brands & inferences
People have a perceived idea about brand. Should *extend* or build upon that idea.

ex: Arm & Hammer: inference (cleans, deodorizes), extend brand to toothpaste, cat litter
9.
packaging
ex. Coca Cola bottle, Tiffany's box

Iconic, as important as the brand logo.
- Colors play a part: blue seems sleek, snappy, clean, crisp and cold. Glass seems more high end, important.
- Quantity: 6pack versus "high quality" single unit items.
10.
brand personality
Goes beyond brand image: personifies it.

(Think Apple/PC)
In five determined dimensions:
- sincerity
- excitement
- competence
- sophistication
- ruggedness
11.
brand equity
- "value" or worth of a brand
- the value of the brand name often exceeds the value of actual "objects" that a company owns (hard assets)
- makes a HUGE difference in willingness to pay

ex: coca cola, one of the biggest brands. Microsoft wants to buy Yahoo for the brand, not the servers or anything.

ex: people willing to pay 2x (over generic?) for their preferred brand of peanut butter or beer. If think they are getting preferred brand, actual fMRI show that emotional centers in brain are being activated.
12.
brand: emotional effect
Often brands play among psychological factors.

ex: "X" targets more young men.
Diapers imply love/hugs: "Luvs", "Huggies", "Pampers" (nothing like "Absorbency Master")
13.
Coke re-formula
- despite blind taste tests showing new formula better
- Customers feel betrayed when changed formula in 1985; "hoarded" coke
- shows human-brand relationship: all determined by the BRAND

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Number of flashcards in this category: 13.
1.	brand image	Can be built by identificational markers of the product (e.g. bottle shape, or text fontface), associations with the actual product (high quality, refreshing), gender (Dove vs. Zest), age, social class, place.
2.	Torro Snowblower	- Importance of inferences. Named product "snowpup", didn't work. Renamed to "Snowmaster" and dominated market.
3.	calculating value of a brand	Subtract real estate, inventory. Coke = $65B, Microsoft/IBM = $57-8B. Value of a brand is measured by willing to pay x amount more than generic, or how willing to go out of way to find branded.
4.	tests for brand name	say spell read remember
5.	brand recognition	When recognize a brand, have a relationship with it. Can be positive (Oh, I know this brand. it's great!) or negative (Oh, I know this brand. I don't use it.) Two way risk: once recognized, have opinions about it.
6.	brand relationships	Consumers have a contract with a brand. They buy, expect value and what they see the brand as standing for. Brand gets their loyalty.
7.	four "fit" tests for brand	- fits target market (age/gender) - highlights product benefits (e.g. FedEx and fast) - culture (where sold, ex. Chevy Nova sounds like "no-go" in Spanish) - legal (can only have one trademark within a product category, like Apple Records and Apple Computer)
8.	brands & inferences	People have a perceived idea about brand. Should extend or build upon that idea. ex: Arm & Hammer: inference (cleans, deodorizes), extend brand to toothpaste, cat litter
9.	packaging	ex. Coca Cola bottle, Tiffany's box Iconic, as important as the brand logo. - Colors play a part: blue seems sleek, snappy, clean, crisp and cold. Glass seems more high end, important. - Quantity: 6pack versus "high quality" single unit items.
10.	brand personality	Goes beyond brand image: personifies it. (Think Apple/PC) In five determined dimensions: - sincerity - excitement - competence - sophistication - ruggedness
11.	brand equity	- "value" or worth of a brand - the value of the brand name often exceeds the value of actual "objects" that a company owns (hard assets) - makes a HUGE difference in willingness to pay ex: coca cola, one of the biggest brands. Microsoft wants to buy Yahoo for the brand, not the servers or anything. ex: people willing to pay 2x (over generic?) for their preferred brand of peanut butter or beer. If think they are getting preferred brand, actual fMRI show that emotional centers in brain are being activated.
12.	brand: emotional effect	Often brands play among psychological factors. ex: "X" targets more young men. Diapers imply love/hugs: "Luvs", "Huggies", "Pampers" (nothing like "Absorbency Master")
13.	Coke re-formula	- despite blind taste tests showing new formula better - Customers feel betrayed when changed formula in 1985; "hoarded" coke - shows human-brand relationship: all determined by the BRAND