kotler 2020, Chapter 9 - Branding Strategies and Success

Positioning a brand based on its tangible features, such as size, color, or material.

Positioning a brand based on the advantages or outcomes customers receive from using the product.

Brands that evoke strong emotional connections and loyalty from customers.

The core values and guiding principles that define a brand's purpose and direction.

A clear and compelling vision of what a brand aspires to be and achieve in the future.

The overall promise and commitment that a brand makes to its customers.

Placing a brand in a specific position in the minds of consumers to differentiate it from competitors.

The process of creating a distinct and memorable image for a brand to stand out in the marketplace.

The overall impression a product, service, organization, person, or place creates in the minds of consumers.

A set of perceptions and feelings consumers have about a product's performance and what it symbolizes.

Creating a distinctive image for a product, service, or organization in the minds of consumers.

Products are tangible, made in factories. Brands are intangible, created in the minds of consumers through marketing and experiences.

The strategy a company uses to create, develop, and manage its brand, including positioning, messaging, and brand extensions.

The key elements that make a brand memorable, distinctive, and successful, like brand awareness, brand loyalty, and brand equity.

The overall value of a brand to its owners, based on attributes like reputation, customer loyalty, and recognition.

The process of shaping how consumers perceive and feel about a product or service, creating a distinctive identity.

When two different brands collaborate to put their names on the same product.

Companies using established brand names of other firms to sell their own products.

The value that a well-known brand name offers to a company that licenses it.

The money a company earns from licensing its brand name to other companies.

The advantages a company gains by using a well-established brand name.

The financial services industry often uses co-branding for credit cards.

The use of co-branding can be seen in various products, from apparel to household goods.

Brand names that have become so widely used that they are no longer exclusive to a particular company, and can be used by any manufacturer.

A brand name that is unique to a specific manufacturer or company and is actively protected.

A brand name created and owned by a retailer or distributor, often sold at a lower price than national brands.

A brand name that is licensed from another company, allowing a different manufacturer to produce and sell products under that name.

The practice of protecting a brand name and its associated symbol to prevent others from using it.

When a company uses a name that has a clear and relatable meaning, making it easier for consumers to understand and remember.

The act of a company sponsoring a product, event, or cause to associate their brand with positive values and experiences.

A strategy where a company offers several different brands in the same product category, potentially leading to a spread of resources and limited profitability.

The practice of reducing the number of brands a company offers to focus on stronger, more profitable options. This involves weeding out weaker or slower-growing brands and focusing on brands with high market share potential.

A process where a company creates a new brand name to enter a new product category or to refresh its image when the power of its existing brand name is waning.

The continuous management of all customer touchpoints, including advertising, personal experience, word of mouth, company websites, etc., to maintain a consistent brand image.

Consistently reinforcing the brand's positioning across all interactions so that the customer's experience reflects the brand's values.

Training employees to prioritize customer needs and deliver a positive experience, which helps strengthen the brand's image.

A private label product is a product made by one company but sold under another company's brand name. Think of it as a store-owned brand. For example, a supermarket might have its own brand of cereal, made by a different company.

A line extension is a new product offering within an existing product category, using the same brand name. It adds variety to the existing brand's product range, making it broader. For example, a company making shampoo might introduce a new line of shampoos for different hair types.

Brand extension involves using an established brand name to launch a new product category that differs from the original offerings. It leverages the existing brand's reputation to introduce a new product line. For example, a company famous for sports shoes might introduce its own line of sportswear using the same brand name.

Co-branding is a strategy where two different brands, often in different industries, collaborate and put their names on the same product, benefiting from the combined brand power. This often helps broaden the reach of both brands. For example, a clothing brand might partner with a popular music artist to create a limited-edition clothing line.

A company can choose to create a new brand identity for a product, completely separate from any existing brands. This approach allows them to target a new market without risking the image of their existing brands. This is typical when launching a product in a different category or targeting a specific audience.