Branding Glossary( A - H) Part 1
A.
Awareness The percentage of population or target market who are aware
of the existence of a given brand or company. There are two types of awareness:
spontaneous, which measures the percentage of people who spontaneously mention
a particular brand when asked to name brands in a certain category; and
prompted, which measures the percentage of people who recognise a brand from a
particular category when shown a list.
B.
Brand A brand is a mixture of attributes, tangible and intangible,
symbolised in a trademark, which, if managed properly, creates value and
influence.
“Value” has different
interpretations: from a marketing or consumer perspective it is “the promise
and delivery of an experience”; from a business perspective it is “the security
of future earnings”; from a legal perspective it is “a separable piece of
intellectual property.” Brands offer customers a means to choose and enable
recognition within cluttered markets.
Brand Architecture How an organization structures and
names the brands within its portfolio. There are three main types of brand
architecture system: monolithic, where the corporate name is used on all
products and services offered by the company; endorsed, where all sub-brands
are linked to the corporate brand by means of either a verbal or visual
endorsement; and freestanding, where the corporate brand operates merely as a
holding company, and each product or service is individually branded for its
target market.
Brand Associations The feelings, beliefs and
knowledge that consumers (customers) have about brands. These
associations are derived as a result of experiences and must be consistent with
the brand positioning and the basis of differentiation.
Brand Commitment The degree to which a customer is
committed to a given brand in that they are likely to re-purchase/re-use in
the future. The level of commitment indicates the degree to which a brand’s
customer franchise is protected form competitors.
Brand Earnings The share of a brand-owning
business’s cashflow that can be attributed to the brand alone.
Brand Equity The sum of all distinguishing
qualities of a brand, drawn from all relevant stakeholders, that results
in personal commitment to and demand for the brand; these differentiating
thoughts and feelings make the brand valued and valuable.
Brand Essence The brand’s promise expressed in
the simplest, most single-minded terms. For example, Volvo = safety; AA
= Fourth Emergency Service. The most powerful brand essences are rooted in a
fundamental customer need. Also, in Interbrand’s model, a vivid distillation of
the Brand Platform.
Brand Experience The means by which a brand is
created in the mind of a stakeholder. Some experiences are controlled
such as retail environments, advertising, products/services, websites, etc.
Some are uncontrolled like journalistic comment and word of mouth. Strong
brands arise from consistent experiences which combine to form a clear,
differentiated overall brand experience.
Brand Extension Leveraging the values of the brand
to take the brand into new markets/sectors.
Brand Harmonisation Ensuring that
all products in a particular brand range have a consistent name, visual
identity and, ideally, positioning across a number of geographic or
product/service markets.
Brand Identity: The outward expression of the
brand, including its name and visual appearance. The brand’s identity is
its fundamental means of consumer recognition and symbolizes the brand’s
differentiation from competitors.
Brand Image: The customer’s net “out-take” from
the brand. For users this is based on practical experience of the
product or service concerned (informed impressions) and how well this meets
expectations; for non-users it is based almost entirely upon uninformed
impressions, attitudes and beliefs.
Brand Licensing: The leasing by a brand owner of
the use of a brand to another company. Usually a licensing fee or
royalty rate will be agreed for the use of the brand.
Brand Management Practically this involves managing
the tangible and intangible aspects of the brand. For product brands the
tangibles are the product itself, the packaging, the price, etc. For service
brands (see Service Brands), the tangibles are to do with the customer
experience - the retail environment, interface with salespeople, overall
satisfaction, etc. For product, service and corporate brands, the intangibles
are the same and refer to the emotional connections derived as a result of
experience, identity, communication and people. Intangibles are therefore
managed via the manipulation of identity, communication and people skills.
Brand Parity: A measure of how similar, or
different, different brands in the same category are perceived to be. Brand
parity varies widely from one category to another. It is high for petrol, for
example: about 80% of respondents (BBDO survey) see no real difference between
brands. By contrast, brand parity for cars is low: only about 25% of
respondents say that one make is much the same as another.
Brand Personality The attribution of human
personality traits (seriousness, warmth, imagination, etc.) to a brand
as a way to achieve differentiation. Usually done through long-term
above-the-line advertising and appropriate packaging and graphics. These traits
inform brand behavior through both prepared communication/packaging, etc., and
through the people who represent the brand - its employees.
Brand
Platform Interbrand’s
proprietary model for defining brands. The Brand Platform consists of
the following elements:
•
Brand
Vision The brand’s guiding insight into its world.
•
Brand
Mission How the brand will act on its insight.
• Brand Values The code by which the
brand lives. The brand values act as a benchmark to measure behaviors and
performance.
• Brand Personality The brand’s
personality traits (See also definition for Brand Personality).
• Brand Tone of Voice How the brand
speaks to its audiences.
Brand Positioning The distinctive position that a
brand adopts in its competitive environment to ensure that individuals
in its target market can tell the brand apart from others. Positioning involves
the careful manipulation of every element of the marketing mix.
Brand Strategy A plan for the systematic
development of a brand to enable it to meet its agreed objectives. The
strategy should be rooted in the brand’s vision and driven by the principles of
differentiation and sustained consumer appeal. The brand strategy should
influence the total operation of a business to ensure consistent brand
behaviors and brand experiences.
Brand Valuation The process of identifying and measuring
the economic benefit - brand value – that derives from brand ownership.
Brand Values The code by which the brand lives.
The brand values act as a benchmark to measure behaviors and
perfor-mance. (See also Brand Platform.)
C.
Co-branding The use of two or more brand names in support of a new
product, service or venture.
Consumer Product Goods (consumer goods) or services
(consumer services) purchased for private use or for other members of the
household.
Core Competencies Relates to a company’s particular
areas of skill and competence that best contribute to its ability to
compete.
Corporate Identity At a minimum, is used to refer to
the visual identity of a corporation (its logo, signage, etc.), but
usually taken to mean an organization’s presentation to its stakeholders and
the means by which it differentiates itself from other organizations.
Country of Origin The country from which a given product
comes. Customers’ attitudes to a product and their willingness to buy it tend
to be heavily influenced by what they associate with the place where it was
designed and manufactured.
Customer Characteristics All distinguishing, distinctive,
typical or peculiar characteristics and circumstances or customers that can
be used in market segmentation to tell one group of customers from another.
Customer Relationship Management
(CRM) Tracking
customer behavior for the purpose of developing marketing and
relationship-building processes that bond the consumer to the brand. Developing
software or systems to provide one-to-one customer service and personal contact
between the company and the customer.
Customer Service The way in which the brand meets
its customers’ needs via its various different channels (for example,
over the telephone or Internet in the case of remote banking, or in person in
the case of retail or entertainment).
D
Demographics The description of outward traits that characterize a group
of people, such as age, sex, nationality, marital status, education, occupation
or income. Decisions on market segmentation are often based on demographic
data.
Differential Product Advantage A feature of a product that
is valuable to customers and is not found in other products of the same
category.
Differentiation Creation or demonstration of
unique characteristics in a company’s products or brands compared to
those of its competitors.
Differentiator Any tangible or intangible
characteristic that can be used to distinguish a product or a company
from other products and companies.
E
Endorsed brand (See Brand Architecture.) Generally a product or service
brand name that is supported by a masterbrand - either dominantly e.g. Tesco
Metro or lightly e.g. Nestle Kit-Kat.
F
FMCG Fast moving consumer goods. An expression used to describe
frequently purchased consumer items, such as foods, cleaning products and
toiletries.
Focus Group A qualitative research technique
in which a group of about eight people is invited to a neutral venue to
discuss a given subject, for example hand-held power tools.
The principle is the same as an
in-depth interview, except that group dynamics help to make the discussion
livelier and more wide-ranging. Qualitative groups enable the researcher to
probe deeper into specific areas of interest (for example, the nature of commitment
to a brand). The result adds richer texture to the understanding of broader
data (for example, quantitative), which may paint general trends or
observations. Also known as a group discussion.
Freestanding Brand (See Brand Architecture.) A brand
name and identity used for a single product or service in a portfolio,
which is unrelated to the names and identities of other products in the
company’s portfolio.
Functionality What a product does for the buyer
and user; the utility it offers the user; what he or she can do with it.
G
Goods A product consisting predominantly of tangible values.
Almost all goods, however, have intangible values to a greater or lesser
extent.
H
High Technology (high tech) A term with vague and far-reaching meaning. This covers
electronics, data technology, telecommunications, medical technology and
bio-chemistry. In order to be classed as a high tech company, one definition is
that at least 35 percent of staff should have a technical qualification, and at
least 15 percent of sales should be used for R&D. Another definition states
that the company must employ twice as many scientists and engineers and invest
twice as much in R&D as the average of all manufacturing companies in the
country.
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