Brand Strategy and Multibranding Approaches
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What is a key condition for the effectiveness of a multibranding approach?

  • Products must have favorable retail shelf space. (correct)
  • Products must not have distinct branding.
  • Products should align closely with existing offerings.
  • Products must have high market share. (correct)

    • When is a new brand strategy likely to succeed?

  • The marketing strategy is inexpensive.
  • The new product is similar to existing offerings.
  • The new brand has a defined target market. (correct)
  • The new brand heavily relies on the parent company's brand image.

    • What is a potential drawback of maintaining a marketing strategy for a new brand?

  • It can be expensive to maintain over time. (correct)
  • It can be less expensive than existing brand strategies.
  • It often results in increased market share.
  • It requires continuous alignment with parent branding.

    • How does the Starbucks brand exemplify a new brand strategy?

    <p>By allowing the new product to maintain its own distinct branding.</p> Signup and view all the answers

    What does a successful multibranding strategy require regarding retail space?

    <p>Consistent visibility and accessibility for products.</p> Signup and view all the answers

    What is described as the aspirational reason for being that inspires an organization?

    <p>Purpose</p> Signup and view all the answers

    Which aspect of the company focuses on creating best practices and achieving industry leadership?

    <p>Company Goals</p> Signup and view all the answers

    What impact does a company aim to have on its customers?

    <p>Providing superior service or product</p> Signup and view all the answers

    What does an organization’s purpose help to answer?

    <p>Why do we exist?</p> Signup and view all the answers

    Which of the following is NOT a direct responsibility of a company's purpose?

    <p>Maximizing profits only</p> Signup and view all the answers

    How can purpose be integrated into an organization?

    <p>Through strategic alignment with action plans</p> Signup and view all the answers

    Which impact of a company emphasizes making the world a better place?

    <p>Impact on Society</p> Signup and view all the answers

    What feeling amongst employees is linked to a company's success?

    <p>Sense of belonging</p> Signup and view all the answers

    What constitutes a brand as opposed to a commodity?

    <p>A brand has awareness and reputation.</p> Signup and view all the answers

    Which aspect does NOT belong to brand identity?

    <p>Perception by consumers</p> Signup and view all the answers

    What is the primary function of brand personality?

    <p>To connect with consumers on a human level</p> Signup and view all the answers

    Which of the following describes brand image?

    <p>How individuals perceive the brand</p> Signup and view all the answers

    Which statement best explains the relationship between brand identity and customer relationships?

    <p>Brand identity generates a value proposition.</p> Signup and view all the answers

    Which is NOT a characteristic of brand personality?

    <p>Product-specific features</p> Signup and view all the answers

    How do functional and symbolic elements differ in branding?

    <p>Functional elements relate to performance while symbolic relate to emotions.</p> Signup and view all the answers

    What does a brand create in the buyer's mind compared to a commodity?

    <p>A yearning and deeper emotional connection</p> Signup and view all the answers

    What percentage of Black Friday purchases in the UK are discarded after minimal or no use?

    <p>80%</p> Signup and view all the answers

    In 2019, the weight of electronic waste (e-waste) was equivalent to the weight of how many airplanes?

    <p>125,000 airplanes</p> Signup and view all the answers

    How much higher are the carbon emissions of returning an item bought online compared to the initial delivery?

    <p>30% higher</p> Signup and view all the answers

    What is one of the initiatives promoted to encourage sustainable consumer behavior instead of Black Friday?

    <p>Green Friday</p> Signup and view all the answers

    The quest for meaning in life has been a subject of inquiry for which of the following?

    <p>Major religions and philosophical schools</p> Signup and view all the answers

    According to various philosophies, what is considered the purpose of life?

    <p>To find one's purpose and embrace it</p> Signup and view all the answers

    Which of the following types of waste is specifically mentioned as a concern relating to Black Friday purchases?

    <p>Electronic waste</p> Signup and view all the answers

    What characteristic of reverse supply chains contributes to higher carbon emissions during returns?

    <p>More energy-intensive processes</p> Signup and view all the answers

    What is the primary purpose of a logo?

    <p>To symbolize or identify an organization's products</p> Signup and view all the answers

    How can purpose increase consumers’ preference for products and services?

    <p>By fostering a stronger emotional connection</p> Signup and view all the answers

    What is a key benefit of purpose in employee engagement?

    <p>It strengthens the connection among employees</p> Signup and view all the answers

    Which type of logo combines both symbols and text?

    <p>Combination of logo marks</p> Signup and view all the answers

    What does brand hierarchy help to organize?

    <p>Different brands and their products/services</p> Signup and view all the answers

    How does purpose help in governance and sustainability?

    <p>By reinforcing the company’s reputation as a corporate citizen</p> Signup and view all the answers

    Which of the following describes a common challenge companies face related to purpose?

    <p>The culture-cause gap</p> Signup and view all the answers

    In brand architecture, what defines endorsed brands?

    <p>They have a distinct identity while being linked to a parent brand</p> Signup and view all the answers

    Which option best describes individual brands in brand hierarchy?

    <p>They have no explicit link to their parent brand.</p> Signup and view all the answers

    What role does purpose play in strategy and business valuation?

    <p>It enhances opportunities for profitable growth</p> Signup and view all the answers

    What does 'Finding the purpose' involve?

    <p>Determining alignment among key stakeholder groups</p> Signup and view all the answers

    What challenge can cause a logo to become outdated?

    <p>Changing consumer preferences</p> Signup and view all the answers

    What can be a source of misalignment in how companies present their purpose?

    <p>The competence-cause gap</p> Signup and view all the answers

    What is a key characteristic of a mascot logo?

    <p>It personifies a brand through a character.</p> Signup and view all the answers

    What allows for the introduction of new products within a brand?

    <p>Established brand identity</p> Signup and view all the answers

    Which of the following is true regarding the necessity of social purposes in business?

    <p>Not all purposes need to be social to be meaningful</p> Signup and view all the answers

    Study Notes

    Strategic Marketing - Brand & Purpose (2024-2025)

    • The course is offered by IHEC Brussels Management School
    • The course content covers various aspects of strategic marketing, particularly focusing on brand and purpose for the 2024-2025 academic year.
    • The modules outline includes:
      • Marketing's Journey: a brief history of marketing and its current state
      • Strategic Marketing: basics of marketing strategy explained step-by-step
      • Customer Centricity: customer behavior and needs, as well as distinctive customer experiences
      • Research & Insights: customer intelligence driven by data and AI & human insights
      • Market & Competition: competitive advantage & innovation
      • Digital & Social: Marketing strategy in the Digital Era, Al, GenAl & emerging technology-led marketing
      • Emerging technology: Al and emerging technology marketing
      • Brand & Purpose: brand identity, trust, and purpose-driven marketing
      • Responsible Marketing: marketing in crisis contexts, sustainable and ethical approaches
      • Agile Marketing: resilient & agile marketing operating models

    Black Friday

    • In the UK, 80% of Black Friday purchases are discarded after minimal/no use, including packaging.
    • In 2019, the weight of electronic waste (e-waste) was equivalent to 125,000 airplanes (more than all commercial aircraft ever created)
    • Compared to the initial delivery of an item, carbon emissions of its return are often up to 30% higher due to reverse supply chains and repackaging

    Brand Examples

    • Freitag: NO BLACK FRIDAY, advocates for SWAP
    • Dille & Kamille: Green Friday, aiming to reduce waste
    • Slowember and The Abnormal Beauty Company: promoting alternative approaches to Black Friday
    • Patagonia: promotes sustainability as an ongoing value
    • Companies are taking stands on social or environmental issues.

    Purpose in Life

    • Throughout history, religions, philosophical schools, and scientific movements have sought to understand the purpose of life.
    • This pursuit reflects humanity's universal desire for meaning.
    • Quotes from Gautama Buddha (500-400 BC), Aristotle (384-322 AD), Marcus Aurelius (121-180 AD), and Friedrich Nietzsche (1844-1900) illustrate various perspectives.
    • The concept of Ikigai is presented as a Japanese concept with illustrations representing components like passion, vocation, profession, and what the world needs.

    Purpose in Business (Customer-side)

    • 64% of consumers find companies actively communicating their purpose more appealing than those that do not.
    • 65% of consumers are influenced by senior executives' beliefs and values.
    • 46% of consumers stopped doing business with companies due to dissatisfaction with their actions on social issues.
    • 56% of consumers expect corporate leaders to take a stance on political or social issues.

    Purpose in Business (Employee-side)

    • Employees seek purpose in themselves (development, financial & non-financial rewards, freedom to act), in fellow employees (sense of belonging and caring), in the company (industry leadership, competition, ease of work, product quality), in societal impact/contribution (meaningful impact)

    Purpose- the reason why

    • Every organization has a 'what' (products/services) and an 'how' (operations).
    • Very few organizations specify a 'why' (purpose, cause, or belief).
    • The 'why' is foundational in that it embodies the core values, reasons for existence, and impact the organization aims for.

    Purpose-driven Marketing

    • Purpose-driven marketing focuses external communication around a company's purpose, building stronger relationships with customers based on shared values.
    • The company's entire activity, not just communication, needs to be aligned with its purpose for marketing success.

    Purpose-driven performance

    • Purpose-led actions positively impact customers (demand, behavior, loyalty, referrals), employees (satisfaction, motivation, productivity), brands (advocacy), businesses (results/growth) and society/global/environment.

    Purpose: When things go wrong

    • Purpose-washing is the act of co-opting a cause for commercial gain without truly supporting it.
    • External pressures (social issues) can make a company deviate from its purpose.
    • Authenticity, substance, and actions are now paramount regarding brand purpose.

    Purpose- take aways

    • A company's purpose should be to address concerns for society, the planet, or individual persons.
    • Profits are still important; however, purpose-driven business prioritizes multiple stakeholders' interests, like employees, society, and the planet.
    • Purpose is an ongoing process; it is more than just a statement. It requires consistent efforts and activities.
    • A company must avoid being over-simplistic in its purpose and strive for a balanced approach.

    Brand - What is a Brand?

    • A brand is what other people say about you when you're not in the room.
    • A brand is like a reputation. It's earned by trying to do good things well.

    Brand Elements

    • Several brand elements (e.g., character, name, tagline, logo, jingle, packaging) are important for shaping, communicating, and recognizing a brand.
    • Brand elements are used to give meaning, distinction, and memorability.
    • Different types of taglines exist to meet various brand purposes (imperative, descriptive, superlative, provocative, interrogative).
    • Brand characters are representations of a brand's personality, values, and attributes, helping in marketing campaigns and building recognition.
    • Logos are visual symbols used to identify products, services, brands, or organizations. Different logo typologies (logotype, emblem, mascot) are presented.
    • Different brand re-design methods and considerations during times of crisis are presented.

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    Description

    This quiz explores key concepts related to multibranding and brand strategy, including the effectiveness of multibranding, successful new brand strategies, and the role of purpose within organizations. It also discusses branding best practices, employee engagement, and brand identity challenges. Test your knowledge on these essential marketing topics!

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