Brand stretching is when companies use their established brand to launch new products in a different market. This tactic can build trust with consumers and attract those who have used the original product, but it can also harm the brand if new products are unsuccessful. It works because consumers are often wary of new products […]
Brand loyalty is a consumer’s desire to continue buying a specific brand, developed through marketing efforts, while brand equity is the positive perception of a brand built through advertising. Both are developed through consumer experience and marketing efforts, but loyalty takes longer to build. Manufacturers use marketing to create brand equity and may try to […]
Market research is crucial for choosing a brand marketing strategy that targets the right audience. The marketing mix, including pricing, packaging, and distribution, should be carefully planned. Brand image and positioning are also important in promoting a product to different market segments. A strong brand image increases consumer awareness and should be communicated effectively to […]
Brand switching, or brand hopping, is when consumers move from using one product or brand to a similar one. Advertisers use strategies such as price comparison, quality comparison, and presenting the new brand as superior to encourage rebranding. Sometimes known as brand hopping, brand switching is the process of choosing to move from routine use […]
Creative briefs are used by design and advertising agencies to establish a client’s vision for a project, which influences the development of the company’s brand or product. The brief ensures consistency and direction for artistic professionals, and a better brief leads to better work. However, some companies may not use this tool. Creative briefs are […]
State brands increase social prestige within a community or subculture, regardless of cost. Luxury brands are defined by cost and association with a well-known manufacturer or designer. State brand ownership signals recognition of community values and leadership, and can raise an individual’s status. A state brand is a brand of consumer goods that can increase […]
Brand culture is the set of symbols, values, and behaviors that reflect a specific company or brand. Consumers prefer to buy brands that match their culture. It is important for brands to understand brand culture because it is the foundation consumers use to make purchasing decisions. Brand culture is the set of symbols, values and […]
Flanker brands are products or brands that accompany or extend an existing brand to target new market segments and increase market share. They can be especially useful for companies with long-standing products and can help carve out new niches in the market. Using a flanker brand can also help reinvigorate a workforce and protect the […]
Tick indicators provide broad information on the movement of stocks in an index, but do not specify which stocks or areas of the market are most active. They can be distorted during market volatility, but can reveal financial trends during stability. Investors should not rely solely on tick indicators and should look for more specific […]
Franchising a brand involves an agreement between a company and a local retailer or wholesaler to function as an exclusive seller in a defined sales territory. The affiliate has flexibility in setting retail prices, and the brand owner benefits from exposure to potential customers without the need to manage local retail outlets. A brand […]
Brand recognition is the goal of marketing and business, with familiar names leading to increased revenue and customer loyalty. Advertising in various mediums and creating memorable ads are key, as well as investing in sufficient advertising space. In marketing and business, a “brand” is a company name or the name of things produced or offered […]
A shared brand credit card is a partnership between a major credit card provider and a company, often a minority establishment, with benefits for customers who use it. However, consumers should be aware of high interest rates and payment stipulations. A shared brand name is a type of credit card that exists as an association […]
Brand equity can come from financial, brand extension, or consumer-based sources. It can improve revenue and cash flow, and can be converted into goodwill. Measuring brand equity involves looking at price premiums, brand extensions, and consumer loyalty. Protecting brand equity is important to prevent competitors from stealing it. Sources of brand equity are typically financial, […]
