Examples of Brand categories in the following topics:
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- Coke, Pepsi, Sprite, and all other soda brand products fall into the same brand category of soft drinks.
- Brand categories are generic classifications of products or services.
- Similar and competing products (or services) all fall into the same brand category.
- It helps the customers understand to which product or service category the particular brand belongs and what products and services are sold under the brand name.
- Top-of-Mind Awareness occurs when your brand is what pops into a consumer's mind when asked to name brands in a product category.
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- Another form of brand extension is a licensed brand extension.
- A company introduces a brand line extension (also referred to as product line extension) by using an established product's brand name to launch a new or slightly different item which may or may not be in the same product category.
- While the products have distinct differences, they are in the same product category.
- What is the Purpose of a Brand Line or Brand Extension?
- It increases awareness of the brand name and increases profitability from offerings in more than one product category.
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- It creates an image of the brand that can be the on-shelf purchase trigger or at-home touch point for consumers across a range of products and categories.
- Marketers can bring new meaning to the category or brand by ‘stealing' cues from others.
- Marketers can leverage this by ‘stealing' color, shape and texture cues from other categories to infer meaning and introduce new thoughts about their own category/brand.
- For example, using motor product shapes and colors for personal care products could be one way to attract men to this traditionally female category.
- Use packaging functionality to bring new benefits to the category/brand and to differentiate from competitors.
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- This category comprises the following:
- Another type of brand is an organization.
- A person can also be considered a brand.
- Product, service and other brands realize the power of event brands and seek to have their brands associated with the event brands.
- Private label brands, also called own brands, or store brands, exist among retailers that possess a particularly strong identity (such as Save-A-Lot).
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- Brand management is the application of marketing techniques to a specific product, product line, or brand.
- Brand management is the application of marketing techniques to a specific product, product line, or brand.
- In a company with many different brand name products, each product will have a brand manager compete with the others as if the products were competitive.
- Brand Association is the degree to which a particular brand is associated with the general product category in the mind of the consumer (share of mind).
- Brand management is the application of marketing techniques to a specific product, product line, or brand.
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- For example, if the customer involvement is high, then he or she will evaluate several brands, whereas if it's low, he or she may look at only one brand.
- The company also needs to check other brands of the customer's consideration set to prepare the right plan for its own brand.
- During this stage, consumers can be significantly influenced by their attitude as well as the degree of involvement that they may have with the product, brand, or overall category.
- For example, if the customer involvement is high, then he or she will evaluate several brands, whereas if it's low, he or she may look at only one brand.
- No strong attachment exists between the buyer and the brand.
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- Brand loyalty entails commitment and repeated consumer purchase behavior following perceived value, satisfaction, and brand trust.
- The American Marketing Association defines brand loyalty as: 1. ) "The situation in which a consumer generally buys the same manufacturer-originated product or service repeatedly over time rather than buying from multiple suppliers within the category" (sales promotion definition). 2. ) "The degree to which a consumer consistently purchases the same brand within a product class" (consumer behavior definition).
- Aside from a consumer's ability to repurchase a brand, true brand loyalty exists when a. ) the customer is committed to the brand, and b. ) the customers have a high relative attitude toward the brand, which is then exhibited through repurchase behavior.
- Thus, "brand penetration" or "brand share" reflects only a statistical chance that the majority of customers will buy that brand next time as part of a portfolio of brands.
- Describe the conditions that must be met to achieve brand loyalty, and the consumer behaviors associated with brand loyalty
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- In recent years a company's brand has become an asset with a financial worth known as "brand equity".
- What is the brand essence of your new product or service?
- The brand essence is the foundation of your brands true identity and the brand essence typically stays the same over time.
- What do customers see in the brand that the founders didn't?
- Once you have secured the trademark for your business name, you then process a legal standing to protect against other businesses using your company name in the category you are doing business in.
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- Your brand cannot bloom unless you ensure that you develop your brand in a way that will please everyone who comes into contact with your business.
- The people who come in contact with your business's brand are known as your startup's stakeholders.
- Consider establishing contacts with some of the following suggested stakeholder categories common to new venture enterprises mentioned in the "Startup Stakeholder Arrow".
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- This form of advertising is designed to stimulate primary demand for a new product or product category (McDaniel et al, 2006).
- The goal of using competitive advertising is to influence demand for a specific brand (McDaniel et al, 2006).
- Even when other brands own the same attributes or benefits, advertisers often create an impression that their products are somehow ‘much better' than other, similar products available in the marketplace.
- Comparative advertising compares two or more competing brands on one or more specific attributes, be it directly or indirectly (McDaniel et al, 2006).
- This way, by comparing one company's brand with other competing brands in the advertisement, the company most likely helps the consumers to choose which brand they would prefer to use.