Branding

June 3 small company branding 1 2
brand identity
what the company wants the customer to think about a brand
brand image
what the customers/public actually think about the brand
market leader
a product that sells more than all similar products e.g. Red Bull
premium brand
a brand with a high price for quality products e.g. ferrari
economy brand
a brand/products with very low prices e.g. supermarket's own-label goods
target market
the ideal group of people that a company aims a product at
brand awareness
knowing about a brand
consumer
the person who actually uses a product. The customer buys the product but might not be the consumer e.g. children's sweets: customer = parent, consumer = small children
consideration set
a group of products that a consumer will choose from e.g. a teenager may consider buying trainers from a selection of either Nike, Adidas or Puma, but not Reebok
brand consideration
a brand that you would think about buying when you look at all the available options
brand loyalty
always buying the same brand because you like it and not buying products from a rival brand
brand ambassadors
someone who represents the brand; the face of the brand becuase this person has certain qualities that makes the brand appealing e.g George Clooney with Lavazzo coffee
creatives
people whose job it is to think up the ideas for cool content like adverts, videos etc
social demographic
a certain group of people in society e.g. Ferrari cars are NOT aimed at the student demographic
pitched
to pitch sth at sb means 'to aim'
brand positioning
where is a brand placed in the market? Is it expensive, quality or low-cost etc
must-have item
a product that everyone wants
psychological pricing
in your mind, £14.99 seems much cheaper than £15
post-purchase dissonance
after buying a product the customer is not completely happy because the product was not as good as they thought it would be
post-purchase consonance
after buying a product the customer is very happy because the product is better than they thought it would be
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