Professional Documents
Culture Documents
Chapter Questions
What is the definition of an Industrial product?
costs.
Satisfying existing customers.
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Purpose of branding
To identify and differentiate a product / service / business from its competitors
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Brand auditing
No
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Brand Strategy
After brand analysis, brand strategies are made: Brand Hierarchy: Corporate, product, or both
Choosing Brandnames:
Persons name Nature of business Use of Acronyms Artificial / Metaphorical names
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Brand Strategy
Brand Extensions
(Continued)
Multibrand Strategy
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Brand Building
Focus on value propositions (V.P.) important to target customers. Make functional and performance aspects superior. Document, demonstrate, and communicate V.P. Use brand-building tools for communicationviz: personal selling, advertising, trade-shows, seminars, sponsorships, etc.
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Brand Auditing
Purpose: To find the brands strengths and
weaknesses. Should be done once in two, six, or twelve months.
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Brand Score Card: It measures the performance of the brand in relation to the target customers expectations. The four components of the brand score card are as follows: The functional performance of the brand. The ease and convenience of accessing the brand. The personality of the brand. The brand value, including pricing.