Podcast
Questions and Answers
What does the term 'brand' refer to?
What does the term 'brand' refer to?
The identity of a company, product, service, or entrepreneur.
What is the process called that involves integrating marketing strategies to build a product's identity?
What is the process called that involves integrating marketing strategies to build a product's identity?
Branding
Which of the following are considered 'Tangible Elements' of a brand?
Which of the following are considered 'Tangible Elements' of a brand?
- Product itself (correct)
- Price (correct)
- Packaging (correct)
- Location (correct)
What does 'Intangible' encompass in terms of a brand?
What does 'Intangible' encompass in terms of a brand?
What is considered a major differentiator for entrepreneurs against their competitors?
What is considered a major differentiator for entrepreneurs against their competitors?
What are some key characteristics of a strong brand name?
What are some key characteristics of a strong brand name?
What are some characteristics of an ideal brand name?
What are some characteristics of an ideal brand name?
Which type of brand name aims to clearly communicate the service offered by the company?
Which type of brand name aims to clearly communicate the service offered by the company?
Which type of brand name relies on wordplay for memorability?
Which type of brand name relies on wordplay for memorability?
Which of the following is NOT a characteristic of 'Modern Brand Names'?
Which of the following is NOT a characteristic of 'Modern Brand Names'?
What is the primary function of a 'Business Model'?
What is the primary function of a 'Business Model'?
What does 'Direct Selling' refer to?
What does 'Direct Selling' refer to?
What is the concept of 'Reselling'?
What is the concept of 'Reselling'?
Describe the 'Franchising' business model.
Describe the 'Franchising' business model.
How is 'Gross Profit' calculated?
How is 'Gross Profit' calculated?
What are 'Operating Expenses'?
What are 'Operating Expenses'?
How is 'Net Income' determined?
How is 'Net Income' determined?
What is the definition of 'Value' in business?
What is the definition of 'Value' in business?
Who are the driving force behind the creation of a business?
Who are the driving force behind the creation of a business?
Explain the concept of 'Value Proposition'?
Explain the concept of 'Value Proposition'?
What are the key elements to consider in a 'Distribution Channel'?
What are the key elements to consider in a 'Distribution Channel'?
Why are 'Key Resources' essential for any business?
Why are 'Key Resources' essential for any business?
What are 'Key Activities' in the context of a business?
What are 'Key Activities' in the context of a business?
What does 'Sales' aim to achieve in a business?
What does 'Sales' aim to achieve in a business?
Define 'Budgets' in the context of a business.
Define 'Budgets' in the context of a business.
What are 'Profits'?
What are 'Profits'?
What is the importance of 'Savings' for entrepreneurs?
What is the importance of 'Savings' for entrepreneurs?
Why is 'Business Registration' critical?
Why is 'Business Registration' critical?
Where should a single proprietorship be registered?
Where should a single proprietorship be registered?
What is the role of the Securities and Exchange Commission (SEC) in business registration?
What is the role of the Securities and Exchange Commission (SEC) in business registration?
What is the purpose of a 'Barangay Clearance'?
What is the purpose of a 'Barangay Clearance'?
Where does a business obtain a 'Mayor's Permit'?
Where does a business obtain a 'Mayor's Permit'?
What does a 'Statement of Assets, Liabilities, and Net Worth (SALN)' show?
What does a 'Statement of Assets, Liabilities, and Net Worth (SALN)' show?
What is the key purpose of a 'Balance Sheet'?
What is the key purpose of a 'Balance Sheet'?
What does the 'Assets' section of a Balance Sheet represent?
What does the 'Assets' section of a Balance Sheet represent?
What are the two main categories of cash assets?
What are the two main categories of cash assets?
What does 'Inventory' consist of?
What does 'Inventory' consist of?
Explain the meaning of 'Long-Term Assets'?
Explain the meaning of 'Long-Term Assets'?
What is the significance of 'Liability' in a business?
What is the significance of 'Liability' in a business?
What do 'Equities' represent in the context of a company?
What do 'Equities' represent in the context of a company?
What is the most common form of trading business in the Philippines?
What is the most common form of trading business in the Philippines?
Flashcards
Brand
Brand
The identity of a company, product, service, or entrepreneur.
Branding
Branding
Using marketing strategies to create a product's identity.
Tangible Elements
Tangible Elements
Physical aspects of a product like packaging, price, and location.
Intangible Elements
Intangible Elements
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Brand Name
Brand Name
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Characteristics of a good brand name
Characteristics of a good brand name
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Descriptive Brand Name
Descriptive Brand Name
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Evocative Brand Name
Evocative Brand Name
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Invented Brand Name
Invented Brand Name
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Lexical Brand Name
Lexical Brand Name
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Acronym Brand Name
Acronym Brand Name
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Geographical Brand Name
Geographical Brand Name
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Founder Brand Name
Founder Brand Name
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Alphanumeric Brand Name
Alphanumeric Brand Name
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Modern Brand Name
Modern Brand Name
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Mixed Brand Name
Mixed Brand Name
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Business Model
Business Model
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Direct Selling
Direct Selling
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Net Income
Net Income
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Value Proposition
Value Proposition
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Distribution Channel
Distribution Channel
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Study Notes
Branding and Brand Names
- Brand refers to the identity of a company, product, service, or entrepreneur.
- Branding is the method of integrating marketing strategies to define a product's identity.
- Tangible brand elements include the product itself, packaging, price, and location.
- Intangible elements are the customer perception and relationship with the brand.
- Brand name is a key differentiator against competitors.
Characteristics of a Good Brand Name
- Unique: Distinct from other brand names.
- Extendable: Capable of use across various products or services.
- Easy to Remember: Memorizable and easily recalled.
- Descriptive of Product/Service Benefits: Clearly communicates the product's advantages.
- Adaptable to Other Languages/Dialects: Can be used in different linguistic variations.
- Positive and Inspiring: Evokes positive feelings and emotions.
Ideal Brand Name Characteristics
- Short and Simple
- Easy to spell, pronounce, and remember
Types of Brand Names
- Pronounceable (single way): easily spoken, avoids ambiguity
- Indicative of product benefits: clearly highlights advantages
- Adaptable: Can easily be adjusted to other contexts
- Non-offensive/negative: Avoids negative connotations
- Not likely outdated: Relevant and timeless
- Legally available: Unique and not already in use
- Descriptive: Explains the offered service/product
- Evocative: Creates imagery and powerful associations
- Invented: Unique and innovative brand names
- Lexical (wordplay): uses words or word combinations to create memorable effects
- Acronym: Brand names formed from initial letters of words
- Geographical: Names derived from locations
- Founder: Names after the company founder
- Alphanumeric: Combines letters and numbers
Business Models and Financials
- Business Model: The method a company uses to sell its products or services.
- Bricks & Mortar: Offline retail experience
- Clicks: Online business model
- Direct Selling: Direct sales to consumers
- Reselling: Reselling existing products or services to customers
- Franchising: Using a successful business model with royalties
- Gross Profit: Revenue after deducting direct costs
- Operating Expenses: Expenses like marketing, administration
- Net Income: Profit after deducting all expenses
- Value Proposition: Unique aspects of a product/service
- Distribution Channel: Methods of reaching customers
- Key Resources: Necessary resources for business operation
- Key Activities: Crucial tasks to achieve the value proposition
- Sales: Revenue generated by product/service implementation
- Budgets: Allocated funds for business operations
- Profits: Revenue generated after deducting costs and expenses
- Savings: Funds reserved for future use
- Business Registration: Company registration with relevant government bodies
- DTI: Department of Trade and Industry (for single proprietorship registration)
- SEC: Securities and Exchange Commission (for partnerships/corporations)
- Barangay Clearance: Verification from local government
- Mayors Permit: Permission from local authority for business operation
- SALN: Statement of Assets, Liabilities and Net Worth
- Balance Sheet: Detailed summary of a company's financial position
Financial Statements and Assets
- Assets: Company resources (cash, inventory)
- Cash: Ready-available money
- Inventory: Items ready for sale
- Long-Term Assets: Assets used beyond one year (equipment)
- Liabilities: Amounts owed by the company
- Equities: Amounts invested in the company
- Buy & Sell: Business model commonly used in various retail establishments
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