MET 470 Lecture Notes - Lecture 7: Brand Equity, Umbrella Brand, Loyalty Marketing
22 May 2018
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what kind of perceptions of product performance do strong global brands have?
improved perceptions
what kind of loyalty marketing advantages do strong global brands have?
great
what kind of vulnerability marketing advantages do strong global brands have?
less vulnerability to competitive marketing actions
are consumers more or less accepting of price increases in strong global brands?
more
what is trade cooperation and support like in strong global brands?
there is greater trade cooperation and support
what is true about marketing communication effectiveness in strong global brands?
there is increased marketing communication effectiveness
strong global brands have what kind of possible opportunities?
licensing and brand extension opportunities
what is a brand name?
word or "device" used to identify an offering
what does a brand name set it apart from?
competing offerings
what is a "device"?
design, shape, sound, or color
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what is brand equity?
value a brand gives a product/service beyond functional benefits provided
what are 3 common branding strategies?
multiproduct branding, multibranding, private branding
what are two examples of multiproduct branding?
mitsubishi and virgin company
what are other names for multiproduct branding?
family branding or corporate branding
what does multiproduct branding allow for?
consumers to transfer good brand equity of one product to other things offered by the company with
the same name
what does multiproduct branding lower?
advertising and promotion costs
what does multiproduct branding raise?
overall brand awareness
why does multiproduct branding raise overall brand awareness?
since the same name is used on all products
what does multiproduct branding build?
a global brand
what is a global brand?
brand marketed under the same name in multiple countries
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find more resources at oneclass.com
what does a global brand have in multiple countries?
similar and centrally coordinated marketing programs
what does a global brand require?
a large financial investment
why does a global brand require a large financial investment?
to create a unified global message
when is the meaning of a brand diluted for customers with multiproduct branding?
when there are too many uses for one brand name
what is sub-branding?
combines a corporate/family brand with a new one
what is an example of sub-branding?
Porsche Carrera vs. Porsche Boxster ($82,000 vs. $46,000)
what does sub-branding building on?
favorable associations consumers have toward the corporate/family brand
sub-branding builds on favorable associations consumers have toward the corporate/family brand while
differentiating the new offering
what does sub-branding allow for the differentiation of?
offerings along a price-quality continuum
what does a price-quality continuum add?
high-end, midlevel, and low-end offerings
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find more resources at oneclass.com
