According to the AMA, what is a brand?
A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller and differentiate them from competitors.
What is the key difference between the AMA's definition of a 'brand' (small b) and the industry's concept of a 'Brand' (big B)?
The industry concept of a 'Brand' implies it has created a certain amount of awareness, reputation, and prominence in the marketplace, beyond just being a technical identifier.
What is a 'product' in a marketing context?
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want.
What is the 'core benefit level' in the five levels of meaning for a product?
It is the fundamental need or want that consumers satisfy by consuming the product or service.
The 'generic product level' of a product contains only those attributes or characteristics absolutely necessary for its _____, with no distinguishing features.
functioning
What does the 'expected product level' encompass?
A set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
How is the 'augmented product level' different from the 'expected product level'?
The augmented level includes additional attributes, benefits, or services that distinguish the product from competitors.
What does the 'potential product level' of a product include?
It includes all the augmentations and transformations that a product might ultimately undergo in the future.
A brand is considered more than a product because it has dimensions that differentiate it, which can be rational and tangible or symbolic, emotional, and _____.
intangible
What is the primary function of a brand for a consumer in terms of decision-making?
It serves as a shorthand device or means of simplification, lowering search costs both internally and externally.
Name the type of risk where a product does not perform up to expectations.
Functional risk.
What type of risk involves a product posing a threat to the physical well-being or health of the user?
Physical risk.
If a consumer feels a product results in embarrassment from others, they are experiencing what type of risk?
Social risk.
How do brands fundamentally benefit firms in an operational sense?
They serve an identification purpose, simplifying product handling, tracing, and organizing inventory and accounting records.
What is the term for the set of human characteristics associated with a brand?
Brand personality.
According to Jennifer Aaker's framework, what are the five dimensions of brand personality?
Sincerity, Excitement, Competence, Sophistication, and Ruggedness.
In Aaker's brand personality framework, which dimension is typified by traits like domestic, honest, genuine, and cheerful?
Sincerity.
The brand personality dimension that includes traits like daring, spirited, imaginative, and up-to-date is called _____.
Excitement
Which of Aaker's brand personality dimensions is characterized by traits such as reliable, responsible, and efficient?
Competence.
Traits like glamorous, charming, and upper class fall under which of Aaker's five brand personality dimensions?
Sophistication.
In Aaker's framework, the brand personality dimension associated with being tough, strong, and outdoorsy is known as what?
Ruggedness.
How do perceptions of brand personality traits form?
They can be formed and influenced by any direct or indirect contact a consumer has with the brand.
What is brand equity?
The marketing effects or added value uniquely attributable to a brand, which a product or service has over its unbranded equivalent.
What are the three main steps in implementing a brand equity measurement system?
Conducting brand audits, designing brand tracking studies, and establishing a brand equity management system.
What is a 'brand audit'?
A comprehensive examination of a brand to assess its health, uncover its sources of equity, and suggest ways to improve and leverage it.
What is the purpose of 'brand tracking studies'?
To collect information from consumers on a routine basis over time, measuring brand performance on key dimensions.
According to Kapferer, what are the three poles of the 'brand system'?
Products or services, name and concept, and brand name and symbols.
Kapferer defines brand assets, brand strength, and brand value. Which of these three refers to the sources of influence like awareness and image?
Brand assets.
According to Kapferer's framework, indicators like market share, market leadership, and loyalty rates are measures of _____.
brand strength
In Kapferer's model, what is 'brand value'?
The ability of a brand to deliver profits, representing its future profit potential.
Kapferer lists eight functions of a brand for the consumer. What is the 'guarantee' function?
To be sure of finding the same quality no matter where or when you buy the product or service.
What is the 'badge' function of a brand for the consumer?
To have confirmation of your self-image or the image that you present to others.
The Ipsos Global Trends report identifies several macro forces. What is the trend 'Globalisation Fractures'?
It refers to the sociopolitical tensions surrounding the concept of globalization.
The Ipsos Global Trends report mentions the trend 'Conscientious Health'. What does this trend likely refer to?
A growing consumer focus on health and well-being, influencing purchasing decisions.
According to the Ipsos report, as the world gets more complex, what do people tend to focus on?
They focus on what they think they can control: themselves.
What is the 'brand portfolio' in the context of brand architecture?
It is the set of different brands that a particular firm offers for sale to buyers in a particular category.
What does a firm's 'brand hierarchy' display?
The number and nature of common and distinctive brand components across the firm's set of brands.
What is the first step in the strategic brand management process outlined by Keller?
Identifying and developing brand plans.
The four main steps of the strategic brand management process are: 1) Identifying and developing brand plans, 2) Designing and implementing brand marketing programs, 3) Measuring and interpreting brand performance, and 4) _____.
Growing and sustaining brand equity
In the context of products, what are 'search goods'?
Goods for which consumers can evaluate product attributes like size, color, and style by visual inspection before purchase.
What defines 'experience goods'?
Goods for which consumers cannot easily assess attributes like durability or service quality by inspection, requiring actual trial and experience.
For which type of goods, such as insurance coverage, may consumers rarely learn the product attributes even after consumption?
Credence goods.
What are 'store brands' or 'private label brands'?
Brands that retailers and distributors create and sell in their own outlets, often in addition to or instead of manufacturers' brands.
In brand building, what does 'leveraging secondary associations' mean?
Linking a brand to another entity (e.g., a country, celebrity, or event) to borrow or leverage its associations to build the brand's own equity.
According to the tutorial slides, what are the four key differences between a product and a service?
Products are tangible, consistent, involve ownership, and have separate production/consumption; services are the opposite on all four points.
What is the core benefit of the Meta Ray-Ban Display, as presented in the video?
To provide a high-resolution display for information and media, controlled by an AI-powered neural interface, integrated into classic eyewear style.
What is the 'meta neural band' for the new Meta Ray-Ban glasses?
A wristband that acts as a neural interface, allowing the user to control the glasses with subtle muscle movements.
One of the key features of the Meta Ray-Ban Display is its ability to put 'subtitles on the world'. What are two examples of this functionality?
Providing real-time translation of foreign languages and transcribing speech for those with hearing difficulties.
What is the price mentioned in the video for the new Meta Ray-Ban Display glasses?
$799.
How does carrying the Ray-Ban brand name benefit the new Meta smart glasses?
It provides style credibility, classic design appeal, and access to an established market for premium eyewear, reducing the perception of it being just a tech gadget.
What is a 'brand positioning model' used for in brand planning?
It describes how to guide integrated marketing to maximize competitive advantages.
The _____ model describes how to create intense, active loyalty relationships with customers.
brand resonance
What tool is used to trace the value creation process for brands and understand the financial impact of marketing expenditures?
The brand value chain.
Which marketing challenge is characterized by the erosion of traditional advertising media and the rise of interactive and nontraditional communication alternatives?
Media Transformation.
What is 'brand proliferation'?
The significant increase in the number of new brands and products, often spurred by line and brand extensions.
The key to branding is that consumers perceive _____ among brands in a product category.
differences
According to Kapferer, a brand is essentially a name that has acquired the power to _____ buyers.
influence
In prompt engineering for AI, why is it important to 'give role / context'?
It helps the AI model adopt a specific persona or viewpoint, leading to more relevant and tailored outputs.
What does it mean to 'iterate and refine' when using generative AI for brainstorming?
It means not accepting the first output but adjusting the prompt based on initial results to improve and guide the AI toward a better answer.
According to the tutorial slides, the Ipsos 2024 Global Trends highlight three main areas of tension: the economic crisis, the global vs. local debate, and _____.
climate change
In business-to-business (B2B) branding, adopting a _____ branding strategy is often recommended due to the complexity of the product mix.
corporate
What is the term for the set of different components of a brand, such as its name, logo, symbol, and package design, that identify and differentiate it?
Brand elements.
The New Coke debacle taught Coca-Cola that a brand's meaning to consumers can include strong _____ components, not just the product's functional taste.
emotional
What is the primary reason branding can be especially important for services compared to physical goods?
Branding helps address the problems of intangibility and variability inherent in services.
According to Kapferer, when a distinctive brand name becomes a generic term for a product category, this is called _____.
degenerescence
The legal definition of a brand is 'a sign or set of signs certifying the _____ of a product or service and differentiating it from the competition'.
origin
In Kapferer's view, what is the relationship between customer equity and financial equity?
Customer equity is the preamble of financial equity; brands have financial value because they have created assets in the minds and hearts of customers.
What does Kapferer mean when he states that brands are 'conditional assets'?
They need to work in conjunction with other material assets, like products or services, to deliver their financial value.
According to the tutorial slides, what is one of the key benefits brands offer to consumers in relation to their information processing?
They reduce search costs by providing signals of quality, reliability, and other desired attributes.
The Ipsos report notes that tensions exist within each trend, such as nostalgia being a shared value but also a potential source of _____ between different groups.
rifts
Jennifer Aaker's research on brand personality draws on the 'Big Five' framework from what field of study?
Personality psychology.
According to Keller, one of the main branding challenges is 'savvy customers.' What does this mean?
Consumers have become more experienced with marketing, more knowledgeable about how it works, and more demanding.
What is the function of the 'evoked set' or 'consideration set' in brand tracking studies?
It measures whether a brand belongs to the shortlist of two or three brands a consumer would seriously consider buying.
In the context of the New Coke failure, what did consumers learn about their relationship with the Coca-Cola brand?
They learned just how much the brand really meant to them as an American icon with deep emotional and nostalgic value.
According to Kapferer's analysis, what allows the Mini car to be sold for $20,000 when its functional value is only $14,000?
The powerful memories the brand invokes of the 'Swinging Sixties,' its iconic design, and its role as a personal accessory.
What is the purpose of a 'brand equity management system' within a firm?
It is a set of organizational processes designed to improve the understanding and use of the brand equity concept.
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