MKT 510 Study Guide - Brand Architecture, Brand Equity, Corporate Identity
Document Summary
Developing brand architecture strategy requires three key steps. Brand vision: management"s view of brand"s long-term potential. Influences how well firm is able to recognize current and possible future brand equity. Crafting brand positioning includes competitive frame of reference, pod, pop, and brand mantra. Line extension: new product introductions within existing categories. Category extensions: new product introduction outside existing categories. Brand house: employing umbrella corporate or family brand for all its products. House of brands: collection if individual brands all with different names. Flankers brand typically to create strong pops with competitors" brands so that more important (and more profitable) flagship brands can retain their desired positioning. Cash cows brands keep around despite dwindling sales because they still manage to hold on to sufficient number of customers and maintain their profitability with virtually no marketing support. Brand hierarchy: geographically portraying firm"s branding strategy by displaying the number and nature of common and distinctive brand elements across products, revealing their explicit ordering.
