Strategic brand managment

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• Brand a whole concept of a name, design and product that separates the product from other products
• Low involvement a brand in the functional realm
• High involvement a more complex brand that is more expensive and we do not use everyday
• Maslow pyramids of need a pyramid of different needs in a pyramid to priorities the most important needs.
• Functional brand good service/ product that deliver core benefits.
• Emotional brand a brand that needs to generate emotional response.
• Top of Mind awareness Being the first brand that pops up in customers mind as the first one when thinking of a certain product.
• Emotion Primary feeling that everyone has
• Feeling how you react/ think from the emotion
• The law of concern Emotion arise in response to event are that are important to our life-goals, values or concerns.
• Law of apparent reality Emotions that is elicited by events appraised as real " the imagined selves"
• Law of closure Emotions tend to be closed to probabilities and likelihoods and thus having control over actions.
• Law of lightest load - Humans tend to view situations in a way that minimizes negative load (i.e the unpleasant knowledge)
• Symbolic consumption Consumptions that represent something special towards the (self) or (social)
• Self illusion Rational beliefs that are suspended because they are not strong enough to prevent us enjoying ourselves.
• Self focus The assessment is more about "us" rather than what is being assessed
• Holistic perception emotion based choices we cant fully explain, such as rule of thumb
• Non verbal imagery Visual effects evoked by pictures, has more effect on attitude and behavior then verbal reports.
• Refusal of other taste Reject those we dislike the most
• Emotion and trust The ultimate goal of marketing
• An integrative model A model with an Y axel of the risk perception while functional brands and symbolic brands ranks in the X axel.
• Functional brand 1 predictability -> credibility -> easy choice
• Functional brand 2 Easy choice -> dependability -> Safe choice
• Symbolic brands Intimacy -> Emotional investment -> trust
• Risk perception The perception of choosing and using a brand.
• What is low risk Credibility -> functional brands ( low need of trust )
• What is high risk Emotional investment -> symbolic brands ( high need of trust
• Motivators What pushes a consumer towards a brand
• Trigger points Things that reminds us or helps us think of a brand
• Recall brand a brand we recall to remember to be able to purchase
• Recognition brand a brand we recognize when we see it to purchase
• Consumption Using up products with resources we can not get back
• Postmodernity The era ran by consumption and the ide of being able to buy and identity.
• Consumption identity the identity we try to create by buying items
• Social meaning The meaning an symbolic brand has within a social context
• Simulacra buying the idé of what the product can give you rather then the product
• Identity construct The identity we construct by consuming goods.
• Self symbolism What a product represent towards your self-identity
• Semiotics signs systems that according to specific cultural rules link signs to meanings
• Signifier A thing/word or product without any meaning behind it
• Signified The association /overtones and feel the signifier has .
• Sign The combined outcome of the two, the given meaning
• Brand wheel a wheel explaining the concept of a brand containing, Name, Logo, Slogan, Tagline/ Jingle, Design/ packaging
• Indexicality How meaning can be assigned by irreplaceable possessions based on the connection to the item.
• Sign economy products being mere signs of what we want to express. We dont buy products we buy signs.
• Nostalgia The experience of associating with objects that was more common when one was younger
• Social integration Claims that consumers goods and the everyday cosumption practices serve to form and maintain social relationships.
• Brand community Communities based on brands with set structured relationship between admires and brand. Has signifiers like Shared consciousness, ritual or tradition and sense of moral responsibility
• Sub culture a group predominantly based on geography, age, ethnicity and class. Deeply rooted in identity.
• Aikido brands Brands that use the fame, images and strength of opponents brands to different values.
• Neo tribes a group of people with the same shared experience.
• Brand equity The entirety of the brands total value. Both symbolic and financial. As well as acknowledgement between the function and symbolic brands.
• Brand equity financia Strong brand -> high loyalty -> trade acceptance, higher price point, higher margins and low price elasticity -> great profitability.
• Brand equity Consumer How the consumer feel about the brand and what motivates them to engage the brand.
• Consumer based brand equity Brand awareness, Brand associations, Brand loyalty, perceived quality, other proprietary assets
• Customer based brand equity (CBBE) A model that emphasizes consistency and relevance of brands.
• Consumer based brand equity: formal system The system we have made up in our mind how to do things
• Brand equity as a process Brand awareness -> brand salience -> Brand attitude -> Brand loyalty.
• Brand awareness The awareness brands has on the market and consumers
• Brand salience known as top of mind awareness, the main brand that comes up when thinking of a product category.
• Brand attitude The associations consumers have linked towards the brand.
• Objective product or non-product specific objective characteristics of the brand; translated into benefits depending on the personal value attached by customer to the attributes. -> Functional brand
• Subjective Perceptions of a brand´s personality or symbolic meaning. -> Symbolic brands
• Brand attitude: Cognition knowledge and assumption about brand from declarative memory
• Brand attitude: Emotion Emotional associations with brand from non declarative emotional memory.
• Brand choice Cognition and emotions
• Brand Loyalty a habit or just a convenience of buying a brand
• Brand equity's 3 central concepts Brand awareness, Brand attitude, Brand loyalty.
• Rossiter percy grid a grid explaining a customers loyalty based on proeciveded risk in switching and satisfaction with a brand.
• Advertising a message with the primary objective is to build and sustain brand awareness and brand attitude
• Above the line Advertisement done on tv, radio and internet. To build long term brand equity.
• Below the line Advertisement by sale promotions and discount coupons. To stimulate immediate action.
• Importance of involvement reflects the degree of risk perceived by people when deciding whether to buy or use product/ Service.
• Importance of motivation Motivators drives the behaviors or purchasing, not matter if its positive or negative motivation.
• Negative motivation focuses on solving a problem
• Positive motivation focuses on rewarding the customer
• Brand positioning How a brand has marketed themselves and is positioned on the market
• Central positioning the number 1 brand in the category however has to deliver all the main benefits associated with the product category.
• Different positioning All the other brand that has to position themselves differently. Can have other benefits customers enjoy.
• Benefit selection The benefit a product offer and belief that is better then other brands by the consumer. Importance, Delivery, Uniqueness.
• FMCG Fast moving consumer goods ( often recognition brands)
• Positioning statement XX is the brand for (target audience) that satisfies ( category need) by offering (Benefit)
• Brand message execution 1 Brand awareness strategy, 2 Brand attitude strategy, 3 The rossiter-percy grid.
• Mobile marketing Marketing using the mobile as a channel between brand and user.
• Describe what defines a symbolic brand based on strategy High involvement and emotion
• Describe what defines functional brand based on strategy Low involvement and cognition
• Managing Brand strategies Stage 1 Brand awareness -> perception of quality = Risk Reduction, Start develop awareness and perception of quality to reduce the risk of purchase
• Managing Brand strategies Stage 2 Differentiation and relevance, This will enhance the brand to stage 2.
• Managing Brand strategies Stage 3 Social esteem ( Brands as social differentiators or integrators) and emotional bond ( Brands as a personal meaning), This will take the brand to stage 3.
• Based on personal meaning Brand as a person, Brand as a friend, Brand and romance, Nostalgi, Instant heratage, experience brand, Brand as underdog.
• Based on social differentiation Cool and cultural capital, Fashionzation, Strategic cannibalization
• Based on social integration Brand community, neo tribes, sub cultures, brand mythology. Brand as a person - Showcases human Characteristics in the eyes of the consumer such as Sincerity, Excitement and sophistication.
• Brand as a person Showcases human Characteristics in the eyes of the consumer such as Sincerity, Excitement and sophistication.
• Brand as a friend Builds attachments through implicating the brands in important areas of the consumers life, Offers a degree of comfort and security similar to what can be found in a friendship.
• Brand ecology Where we interact and external that can have an influence on how we act and how we reacts.
• Brand as a underdog Being the small guy on the side, standing up to fight the institution.
• Brand and romance Ties the commercial to the feeling of love and romance, reflecting the importance of it in the consumers life.
• Brand and Nostalgia Brands romanticizing our past making us interested based of what we used to like or it used to be.
• Social differentiation strategies Shifts the focus from functional items into fashion items.
• Mere exposure Exposing the customer to the brand without the conscious of them recognizing it.
• Classic conditioning pavlovs dogs, associating one thing that trigger stimulus.
• Brands and colors Colours are often linked to brands design that can help fostering long term positioning.
• Brands and sounds Jingle or acoustic pitches can also influence (positively) consumer´s perception of products.
• Brands and shapes Shapes trigger a second sense, angular is associated with durability while rounded is associated with comfort.
• "rule of thumb irrational ( heuristic) reasons because we buy a certain product, we always used to buy that brand.
• Brand celebrities a good way to boost your brand however it can be problematic
• Brand repertoires the pool of brands you choose from when buying a certain product.
• Penetration reaching new customers
• Frequency increasing the frequency the product is purchased.
• When to use each strategy depends on the size of the brand and what customer base we are trying to reach.
• Refreshing the brand Rebranding
• Extending the brand Using the same brand to evolve a new business.
• New user situation Changing the product to be able to follow trends and time.
• Cause related marketing trying your brand with an Ngo, add a good cause to buying your brand.
• Raising consumers involvement Stimulate involvement by making the consumer interact with the brand using # or a competition.
• What is ewom / Wom Word to mouth.
• What signifies a viral campaign Contagious, emotional, leverage emotion to appeal.
• How can a brand enchance the potential of innovation Aid differentiation and ownership, add credibility, Improve visibility, enhance communication, build cooperate reputation.
• Innovators People who appreciate technology for it own sake and are motivated by the idea of being a change agent in their reference group.
• Early adopters People who like to take advantage over their peers. They are attracted by high risk, high reward projects and because they envision great gains in being ahead they are not very price sensitive.
• Early majority They do not like the risk, they like to think they are smarter and want a safe choice. Rational
• Late majoirty They are risk adverts, price sensitive, they want to be super safe and do not want any risk. They wont spend money if they are not completely sure. They trust their friends and relay on what their friends think.
• Laggards They do not want to innovation, they want to maintain the status quo. They would not adopt it and is very price sensative
• How to cross the chasm Market the product in a way so the early majority gets interested into the products and buy it.
• How to market towards Visonaries give them a reason to want it, The goal to this segment is to establish "reputation". The Product is often the focus. The key strategy is to develop the best possible technology for the market they purse.
• How to market towards early majority give them a solution for their problems and needs, work on brand community, provide a whole product, needs to be easy to use. Lastly enable them to communicate horizontally.
• How to market towards the laggards needs to be simpler, cheaper, more reliable and convenient.
• Paradox of technology innovations can sometimes create problems instead of fixing the problem, the mobile phone makes us both free but also enslaved.
• Product portfolio the collection of different products a company offers.
• Brand portfolio brands marketed by a single company within a product category.
• Brand line A product marketed under a single brand name.
• Brand stretching taking a brand into another related market
• Brand retrenching eliminate certain brands form the portfolio or market.
• Problems with equity unsuccessful extensions into different products category can be negative towards the parent company. Changes in "taste" may be detrimental to the core brand.
• Brand extension : source A bigger company is acts as a guarantee of the products quality.
• Brand extension: endorser when a brand acts as a guarantee of quality for a wide range of products.
• Branded house One brand creates a single powerful image, sometimes with a descriptor
• Sub brands Combining the cooperate brand with strong sub brands, sub brands can help differentiate and boost cooperate brands
• Endorsed brands leading with a strong sub brand but leveraging cooperate brand as endorser
• House of brands Decentralized companies targeting diverse markets
• Co branding when a brand launches a new product leveraging on another company's brand equity.
• Retro marketing Marketing with the goal of giving the product a nostalgic feel
• Disadvantages of brand extension Potential customer confusion - cannibalization of the parents brand sales, Limited extension and opportunities because it will not have potential for its own unique identity
• Advantages of extensions Reduce cost of the new products, easier destruction, building brand awareness faster, Creating positive brand attitude fast, risk of reducing trail, increase customer base, strong overall brand attitude for parents brand, increased extension opportunities,
• Where does crossing the chasm happend Innovators and early majority.
• Multi brand portfolio of products with different brands or names all owned and managed by the same company.
• Consumer journey map Need/ opportunity recognition -> Information search -> Evaluation of alternatives -> Purchase -> Outcomes of purchase.
• Consumer journey map: Need / opportunity recognition The gap between current state and desired state.
• Consumer journey map: Information search Searching for models, prices etc.
• Consumer journey map: Evolution of alternatives Consumer look to reduce cognitive effort and use decision heuristics or "rules of tumb"
• Consumer journey map: Purchase pre planned: more or less impulsive although some kind of preunderstanding of the purchasing choice exist. Choice of outlet to buy from.
• Consumer journey mapOutcome of purchase learning and evaluating the outcome of purchase.
• Advantages of extensions Reduce cost of the new products, easier distrubution, building brand awareness faster, Creating positive brand attitude fast, risk of reducing trail, increase customer base, strong overall brand attitude for parents brand, increased extension opportunities,
• Disadvantages of brand extension Potential customer confusion - cannibalization of the parents brand sales, Limited extension and opportunities because it will not have potential for its own unique identity

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