Branding Key Words Summary

In order to better understand the frequently mentioned words and their meanings in Band Asset Management, we have compiled a little summary of the mostly used expressions:

Associations

  • Help process / retrieve information
  • Differentiate / Position
  • Reason-to-Buy
  • Create positive Attitudes / Feelings
  • Basis for Extension

Source: Aaker

 

Brand Awareness

 

Brand Equity

Source: Aaker

 

Brand Loyalty
Brand loyalty is a measure of the attachment that a customer has to a brand. The brand loyalty of a customer base is often the core of a brand’s equity.

The Loyalty Pyramid. Source: Aaker

The strategic value of Brand Loyalty:

  • Reduced Marketing costs
  • Trade Leverage
  • Attracting New Customers:
    – Brand Awareness Created
    – Reassurance to New Customers
  • Time to Respond to Competitive Threats

 

Name & Symbol

Name

The name is the core indicator of the brand, the basis for both awareness and communication efforts.

Symbol

A symbol can be the central element of brand equity, the key differentiating characteristics of a brand. The symbol can by itself create awareness, associations and a liking feeling which in turn can affect loyalty and perceived quality.

Source: Aaker

 

Perceived Quality
Perceived quality can be defined as the customer’s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives. It differs from several related concepts such as:

–       Actual or objective quality  – the extent to which the product or service delivers superior service

–       Product-based quality – the nature and quantity of ingredients, features or services included

–       Manufacturing quality – conformance to specification, the “zero defect” goal
The value of perceived quality:

  • Reason-to-buy
  • Differentiate / Position
  • A price / Premium
  • Channel Member Interests
  • Brand Extensions
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One comment

  1. hans kaspar hugentobler

    sure, why not have such a glossary…, makes sense.

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