Ôn thi Brand Management

Tài liệu ôn thi Môn Brand Management 1. Criticizing the product level. 2. Explain the importance of brand in an aspect of consumers and manufacturers. 3. Explain why brand equity is a bridge 4. The product category structure is one of the tools that a marketer uses to identify the production line, explain and suggest one example about product category structure. 5. Creating more brand awareness makes the company has more competition advantages, explain why in terms of learning advantages, consideration advantages and choice advantages. 6. Criticizing the criteria for choosing brand element ....

1 Criticizing the product level.

(https://www.cgma.org/resources/tools/cost-transformation-model/kotlers-five-product-level-model.html)

The five product levels are:

Core benefit: The fundamental need or want that consumers satisfy by consuming the

product or service

For example, the need to process digital images

Generic product (sản phẩm chung/ sản phẩm cơ bản): A version of the product

containing only those attributes or characteristics absolutely necessary for it to function

For example, the need to process digital images could be satisfied by a generic, low-end,

personal computer using free image processing software or a processing laboratory

Expected product (sản phẩm kỳ vọng): The set of attributes or characteristics that

buyers normally expect and agree to when they purchase a product

For example, the computer is specified to deliver fast image processing and has a

high-resolution, accurate colour screen

Augmented product (sản phẩm bổ sung): The inclusion of additional features, benefits,

attributes or related services that serve to differentiate the product from its competitors

For example, the computer comes pre-loaded with a high-end image processing software

for no extra cost or at a deeply discounted, incremental cost

Potential product (sản phẩm tiềm năng): This includes all the augmentations and

transformations a product might undergo in the future To ensure future customer loyalty, a business must aim to surprise and delight customers in the future by continuing to augment products

For example, the customer receives ongoing image processing software upgrades with

new and useful features.

Đào làm

We can define five levels of meaning for a product:

1 The core benefit level is the fundamental need or want that consumers satisfy by consuming the product or service.

2 The generic product level is a basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features This is basically a stripped-down, no-frills version of the product that adequately performs the product function.

3 The expected product level is a set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.

4 The augmented product level includes additional product attributes, benefits, or related services that distinguish the product from competitors.

5 The potential product level includes all the augmentations and transformations that a product might ultimately undergo in the future

Ex: Identify products level of mobile phone Core benefit: good at Calling and texting

Generic product: access internet through wifi, 3G-4G, listening to music, take picture, … Expected product: design(color, shape), smart unlock (face ID, Fingerprint Sensor, ), long-battery,…

Augumented product: Magsafe charger, earphone,…

Potential product: screen processing speed (120Hz), wide angle camera, …

2 Explain the importance of brand in an aspect of consumers and manufacturers.

3 Explain why brand equity is a bridge

(https://siteeconomics.blogspot.com/2017/09/brand-equity-as-bridge.html)

Brand Equity as a Bridge Thus, according to the customer-based brand equity concept, consumer knowledge drives the differences that manifest themselves in terms of brand

equity This realization has important managerial implications For one thing, brand equity provides marketers with a vital strategic bridge from their past to their future.

Brands as a Reflection of the Past Marketers should consider all the dollars spent on

manufacturing and marketing products each year not so much as “expenses” but as “investments” in what consumers saw, heard, learned, felt, and experienced about the brand If not properly designed and implemented, these expenditures may not be good investments, in that they may not have created the right knowledge structures in consumers’ minds, but we should consider them investments nonetheless Thus, the quality of the investment in brand building is the most critical factor, not the quantity beyond some minimal threshold amount In fact, it is possible to “overspend” on brand building if money is not being spent wisely Conversely, as we’ll see throughout the book, some brands are considerably outspent but amass a great deal of brand equity through marketing activities that create valuable, enduring memory traces in the minds of consumers, as has been the case with Snickers

Brands as a Direction for the Future The brand knowledge that marketers create over

time dictates appropriate and inappropriate future directions for the brand Consumers will decide, based on their brand knowledge, where they think the brand should go and grant permission (or not) to any marketing action or program Thus, at the end of the day, the true value and future prospects of a brand rest with consumers and their knowledge about the brand No matter how we define brand equity, though, its value to marketers as a concept ultimately depends on how they use it Brand equity can offer focus and guidance, providing a means to interpret past marketing performance and design future marketing programs Everything the firm does can help enhance or detract from brand equity Those marketers who build strong brands have embraced the concept and use it to its fullest as a means of clarifying, communicating, and implementing their marketing actions.

4 The product category structure is one of the tools that a marketer uses to identifythe production line, explain and suggest one example about product categorystructure.

Typically, marketers assume that products are grouped at varying levels of specificity and can be organized in a hierarchical fashion Thus, in consumers’ minds, a prod-uct hierarchy often exists, with product class information at the highest level, product category information at the second-highest level, product type information at the next level, and brand information at the lowest level.

Product category structure is an overarching concept that includes all brands or brand lines of a particular industry group to serve the needs of different market segments.

Simply put, product category structure includes all the brands offered by a single company to do business to serve the needs of different groups of people Product category structure are often created because each brand has a certain boundary that it cannot satisfy the needs of all different market segments.

The advantage of having product category structure is that it is manageable by tracking brands as a whole and framing policies with a broader view Alternatively, resources can be allocated to the brand that needs them most.

Product categories structure provide a starting point for market segmentation Product categories help marketers identify potential sources of competition, and by extension, opportunity Product categories help marketers position their products and promote

them more effectively.

For instance when Clootrack performed category analysis on Men’s Apparel in USA, the top category driver emerged as ‘fitting of the shirt’, and not really the range of shirts or the quality of the fabric.

This emerged as a unique insight for apparel companies as they would have expected the quality of the fabric or range of the shirts to occupy the top position.

5 Creating more brand awareness makes the company has more competitionadvantages, explain why in terms of learning advantages, consideration advantagesand choice advantages

Nguồn: https://quizlet.com/436990782/branding-ch2-flash-cards/

Advantages of brand awareness: learning advantages, consideration advantages, choice advantages

Advantages of brand awareness

Brand awareness influences the formation and strength of the associations that make up the brand image To create a brand image, marketers must first establish a brand node in memory, the nature of which affects how easily the consumer learns and stores additional brand associations

Learning advantages:

The first step in building brand equity is to register the brand in the minds of consumers If the right brand elements are chosen, the task becomes easier Formation and strength of associations - brand image.

Consideration advantages:

Consumers must consider the brand whenever they are making a purchase for which it could be acceptable or fulfilling a need it could satisfy.

Raising brand awareness increases the likelihood that the brand will be a member of the consideration set, the handful of brands that receive serious consideration for purchase Much research has shown that consumers are rarely loyal to only one brand but instead have a set of brands they would consider buying and another—possibly smaller—set of brands they actually buy on a regular basis Because consumers typically consider only a few brands for purchase, making sure that the brand is in the consideration set also makes other brands less likely to be considered or recalled

Choice Advantages

The third advantage of creating a high level of brand awareness is that it can affect choices among brands in the consideration set, even if there are essentially no other associations to those brands.

For example, consumers have been shown to adopt a decision rule in some cases to buy only more familiar, well established brands.

6 Criticizing the criteria for choosing brand element

1 Memorability

Brand elements always have a connection with brand equity Memorability is a necessary condition to build brand equity to achieve high brand awareness For example, propane gas canisters brand name Blue Rhino featuring mascot animals’ powder-blue with a distinctive yellow flame is likely to remain in the minds of consumers Brand elements that we make must be catchy and easy to recognize.

2 Meaningfulness

In addition to the brand, parts should be remembered; brand items also need to have a real meaning, both descriptive and persuasive It is hoped this meaning can influence consumers to consume these products Description of the meaning contained can be: - General information on the categories and contents of the product.

- Specific information about particular attributes and benefits of the brand 3 Likability

Brand elements are easily remembered and recognized, meaningfulness, and likability would attract offers many advantages Besides brand elements are clear and convincing marketing communications section will assist in building awareness and brand equity Also, the brand elements must also be aesthetically pleasant.

4 Transferability

Transferability measures the extent to which brand elements increase brand equity for new products or new markets There are several aspects to criteria like this:

First, how are brand items useful for lines or extensions category?

Usually the less specific the name, the easier it is to be transferred to the entire group.

Second, to see the extent to which brand elements boost brand equity across geographical

boundaries and market segments?

It depends on the content of the cultural and linguistic quality of the brand elements Difficulty in translating names, slogans, and packages into other languages and cultures are also encountered by marketers who are already top, and it has become legendary over the years For example, Microsoft When Microsoft launched Vista operating system in Latvia, Vista’s name means “chicken” or “female shabby” in the local language To avoid such things, companies should review all elements of their brand to see the cultural meanings before being introduced into new markets.

5 Adaptability

The fifth criterion for determining brand elements is an adaptation Adaptation from time to time Changes in consumer value, or simply because of the need to keep the contemporary brand requires that most of the elements be updated Brand elements are adaptable and flexible will be easy to update For example, a logo or a character who can be given the look or design a new one for them appear more modern and relevant.

6 Protectability

Last criteria when determining brand elements is the brand elements should be protected both in law and in a competitive sense Companies should choose the brand elements can be protected by international law, registering the name to legal entities which remain officially, and defending trademarks of a competitive unauthorized breach Additionally, a brand must be protected from competition If the name, package or other attributes are easy to copy, there will be many unique names that may be missing.

7 When applying for brand name, evaluating and explain the naming procedure.(https://www.dreambox.id/blog/good-naming-procedures/)

I Define objectives

Define the branding objectives are things that must be done first Also, we must establish the appropriate meaning that must be delivered by the brand At this stage, we must also understand the role of brand marketing programs and target market

II Generate names

We need to do the branding strategy Why? Because of the branding strategy was undertaken will create names and concepts as much as possible At this stage, maybe there will be dozens, hundreds, or even thousands of names generated

III Screen initial candidates

The third stage should be done display all the names that are not by the purpose of branding and marketing objectives that have been identified in the first phase Moreover, in this third stage also we must take a test to get a list of more manageable As happened at General Mills General Mills a public company from the United States began the third phase Companies engaged in the food industry is starting to eliminate some such thing, the name having an unintentional double meaning; unpronounceable name or re-used Such as what to do in the third stage, General Mills also evaluated in depth to narrow the list to name a few

IV Study candidate names

In addition to the screening on all brands, we also need to collect more information or practically learn a deeper 5-10 name that has become final candidates In determining the name, we need to do research to consumers to see how the consumer response to our name But because this step is expensive, often several brands just do testing in each country every name that escapes from the law in the State of the previous screening

V Research the final candidates

Conducting research to consumers is the fifth step that needs to be done It aims to ensure that management’s expectations regarding memorability and meaningfulness of remaining name Research conducted can be done through the actual marketing programs, such as showing consumer products and packaging, pricing, or promotion By doing that, a brand can understand the basis of a brand name and how it uses At this stage, it may marketers will conduct a survey to many consumers to see the differences in each region and ethnicity Also, marketers also must describe the effects gained from repeated exposure of brand name and what will happen when the name is spoken or written

VI Select the final name (Slide thầy không có bước này)

The last stage is a crucial stage After collecting information from the previous steps, at this juncture, management should choose a name that will maximize branding and marketing goals of a company Once selected, a company must register the name of the elected official Sometimes the new brand name potentially harmful, some consumers might not like the new brand name because they felt it was foreign However, in some

cases, assuming they will not be severe, the association would be lost after the initial marketing launch And keep in mind that companies should remember lasting effects to

9 Integrated Marketing Communication (IMC) is a technique that marketers use topersuade highest traffic and attention of a consumer, explain some of the marketingtechniques to improve consumer recognition and awareness.

10 Advantages and disadvantages of qualitative research and quantitative research

(ảnh dưới là tổng quát ý, link:

Quantitative● Larger sample sizes ● Research is not carried

out in their normal

● Qualitative Research can capture changing attitudes within a target group such

as consumers of a product or service, or attitudes in the workplace.

● Qualitative approaches to research are not bound by the limitations of quantitative methods If responses don’t fit the researcher’s expectation that’s equally useful

qualitative data to add context and perhaps explain something that numbersalone are unable to reveal.

● Qualitative Research provides a much more flexible approach If useful insights

are not being captured researchers can quickly adapt questions, change the setting or any other variable to improve responses.

● Qualitative data capture allows researchers to be far more speculative aboutwhat areas they choose to investigate and how to do so It allows data capture to

be prompted by a researcher’s instinctive or ‘gut feel’ for where good information will be found.