Below you will find many branding terms to keep you on top of your game, as well as a few marketing terms that you might normally hear during a discussion with us.
A
Attitude Branding
Attitude branding is the choice to represent a feeling, which is not necessarily connected with the product or consumption of the product at all. Marketing labeled as attitude branding includes that of Apple, Nike, Safeway, Starbucks, and The Body Shop.
Audience(s)
Individuals with whom you wish to establish an exchange relationship, such as, customers, influencers or stakeholders.
Awareness
The percentage of population or target market who are aware of the existence of a given brand or company. There are two types of awareness: spontaneous, which measures the percentage of people who spontaneously mention a particular brand when asked to name brands in a certain category; and prompted, which measures the percentage of people who recognize a brand from a particular category when shown a list.
B
Brand
a.) Brands were originally developed as labels of ownership and consisted of a name, term, design and symbol. However, today it is what they do for people that matters much more—how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization’s most valuable asset.
b.) The sum of all the characteristics, tangible and intangible, that make the offer unique. A name, term icon or symbol that represents a product or service or even supplier of that product or service. Branding begins and ends with the perception of the customer. Perceptions are formed on the basis of relevance, benefits and emotions.
c.) A brand is a mixture of attributes, tangible and intangible, which if managed properly, creates value and influence. “Value” has different interpretations: from a marketing or consumer perspective it is “the promise and delivery of an experience”; from a business perspective it is “the security of future earnings”; from a legal perspective it is “a separable piece of intellectual property.” Brands offer customers a means to choose and enable recognition within cluttered markets.
d.) A valued promise that an organization makes to its external and internal audiences. External audiences view a brand as the best and sometimes only solution to a problem they have. Internal audiences must believe the brand is worthy of their commitment. All audiences must understand the brand and view it as important, believable, and distinctive.
Brand Architecture
a.) The different brands owned by a company are related to each other via brand architecture. In product brand architecture, the company supports many different product brands each having its own name and style of expression but the company itself remains invisible to consumers. Procter & Gamble, considered by many to have created product branding, is a choice example with its many unrelated consumer brands such as Tide, Pampers, Ivory and Pantene. With endorsed brand architecture, a mother brand is tied to product brands, such as The Courtyard Hotels by Marriott. Endorsed brands benefit from the standing of their mother brand and thus save a company some marketing expense by virtue promoting all the linked brands whenever the mother brand is advertised. In the third model only the mother brand is used and all products carry this name and all advertising speaks with the same voice. A good example of this brand architecture, most often known as corporate branding, is the UK-based conglomerate Virgin. Virgin brands all its businesses with its name (e.g., Virgin Megastore, Virgin Atlantic, Virgin Brides) and uses one style and logo to support each of them.
b.) How an organization structures and names the brands within its portfolio. There are three main types of brand architecture system: monolithic, where the corporate name is used on all products and services offered by the company; endorsed, where all sub-brands are linked to the corporate brand by means of either a verbal or visual endorsement; and freestanding, where the corporate brand operates merely as a holding company, and each product or service is individually branded for its target market.
c.) A systematic way of viewing and organizing your institutional and sub-brand promises, attributes, and graphic identity so as to achieve greater clarity, synergy, and leverage
Brand Associations
The feelings, beliefs and knowledge that consumers (customers) have about brands. These associations are derived as a result of experiences and must be consistent with the brand positioning and the basis of differentiation.
Brand Attribute
A series of words or phrases—implied in your brand promise—that you want to position in the minds of your target audiences. Over time, as a result of your brand communications plan, you want your audiences to repeat these attributes back to you, and to others; also known as benefit segments and vivid descriptors
Brand Attribute Matrix
A matrix, or visual depiction, of all the institutional and sub-brand attributes
Brand Clarification
Clarifying and articulating a brand involves:
• Making a brand promise that matters to your audiences; creating relevance
• Communicating your brand promise; creating measurable improvements in brand awareness
• Living your brand promise; delivering on the promise you made in your brand communication strategy
• Strengthening your brand promise; enhancing your brand, and its value, over time
Brand Commitment
The degree to which a customer is committed to a given brand in that they are likely to re-purchase/re-use in the future. The level of commitment indicates the degree to which a brand’s customer franchise is protected form competitors.
Brand Communication Plan
A detailed plan that is as detailed as a business plan. It contains strategy, milestones, budgets, timing projections and evaluation mechanisms.
Brand Earnings
The share of a brand-owning business’s cashflow that can be attributed to the brand alone.
Brand Equity
a.) Brand equity measures the total value of the brand to the brand owner, and reflects the extent of brand franchise. Brand name is often used interchangeably with brand, although it is more correctly used to specifically denote written or spoken linguistic elements of a brand. In this context a brand name constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services. A brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration.
b.) The sum of all distinguishing qualities of a brand, drawn from all relevant stakeholders, that results in personal commitment to and demand for the brand; these differentiating thoughts and feelings make the brand valued and valuable.
Brand Equity Protection
The implementation of strategies to reduce risk and liability from the effects attributable to counterfeiting, diversion, tampering and theft so that the differentiating thoughts and feelings about the brand are maintained and remain valued and valuable.
Brand Essence
The brand’s promise expressed in the simplest, most single-minded terms. For example, Volvo = safety; AAA = emergency service. The most powerful brand essences are rooted in a fundamental customer need.
Brand Experience
The means by which a brand is created in the mind of a stakeholder. Some experiences are controlled such as retail environments, advertising, products/services, websites, etc. Some are uncontrolled like journalistic comment and word of mouth. Strong brands arise from consistent experiences which combine to form a clear, differentiated overall brand experience.
Brand Extension
a.) Leveraging the values of the brand to take the brand into new markets/sectors.
b.) An existing strong brand name can be used as a vehicle for new or modified products; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc. Mars extended its brand to ice cream, Caterpillar to shoes and watches, Michelin to a restaurant guide, Adidas and Puma to personal hygiene. Dunlop extended its brand from tires to many other rubber products such as shoes, golf balls, tennis racquets and adhesives.
Brand Harmonization
Ensuring that all products in a particular brand range have a consistent name, visual identity and, ideally, positioning across a number of geographic or product/service markets.
Brand Identity
The outward expression of the brand, including its name and visual appearance. The brand’s identity is its fundamental means of consumer recognition and symbolizes the brand’s differentiation from competitors.
Brand Image
The customer’s net “out-take” from the brand. For users this is based on practical experience of the product or service concerned (informed impressions) and how well this meets expectations; for non-users it is based almost entirely upon uninformed impressions, attitudes and beliefs.
Brand Licensing
The leasing by a brand owner of the use of a brand to another company. Usually a licensing fee or royalty rate will be agreed for the use of the brand.
Brand Management
a.) Practically this involves managing the tangible and intangible aspects of the brand. For product brands the tangibles are the product itself, the packaging, the price, etc. For service brands (see Service Brands), the tangibles have to do with the customer experience – the retail environment, interface with salespeople, overall satisfaction, etc. For product, service and corporate brands, the intangibles are the same and refer to the emotional connections derived as a result of experience, identity, communication and people. Intangibles are therefore managed via the manipulation of identity, communication and people skills.
b.) Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This results from a combination of increased sales and increased price.
Brand Mission
How the brand will act on its insight.
Brand Monopoly
In economic terms the “brand” is a device to create a monopoly—or at least some form of “imperfect competition”—so that the brand owner can obtain some of the benefits which accrue to a monopoly, particularly those related to decreased price competition. For example, the Coca Cola corporation will probably never have a monopoly on cola-flavored soda pop, but it can have a monopoly on its own brand of cola-flavored soda pop. In this context, most “branding” is established by promotional means. There is also a legal dimension, for it is essential that the brand names and trademarks are protected by all means available. The monopoly may also be extended, or even created, by patent, copyright, trade secret (e.g. secret recipe), and other sui generis intellectual property regimes (e.g.: Plant Varieties Act, Design Act). In all these contexts, retailers’ “own label” brands can be just as powerful. The “brand”, whatever its derivation, is a very important investment for any organization. RHM (Rank Hovis McDougall), for example, have valued their international brands at anything up to twenty times their annual earnings. Often, especially in the industrial sector, it is just the company’s name which is promoted (leading to one of the most powerful statements of “branding”; the saying, before the company’s downgrading, “No-one ever got fired for buying IBM”).
Brand Orientation
Brand orientation is a deliberate approach to working with brands, both internally and externally. The most important driving force behind this increased interest in strong brands is the accelerating pace of globalization. This has resulted in an ever-tougher competitive situation on many markets. A product’s superiority is in itself no longer sufficient to guarantee its success. The fast pace of technological development and the increased speed with which imitations turn up on the market have dramatically shortened product lifecycles. The consequence is that product-related competitive advantages soon risk being transformed into competitive prerequisites. For this reason, increasing numbers of companies are looking for other, more enduring, competitive tools – such as brands. Brand Orientation refers to “the degree to which the organization values brands and its practices are oriented towards building brand capabilities” (Bridson & Evans, 2004)
Brand Parity
A measure of how similar, or different, different brands in the same category are perceived to be. Brand parity varies widely from one category to another. It is high for petrol, for example: about 80% of respondents (BBDO survey) see no real difference between brands. By contrast, brand parity for cars is low: only about 25% of respondents say that one make is much the same as another.
Brand Personality
The attribution of human personality traits (seriousness, warmth, imagination, etc.) to a brand as a way to achieve differentiation. Usually done through long-term above-the-line advertising and appropriate packaging and graphics. These traits inform brand behavior through both prepared communication/packaging, etc., and through the people who represent the brand – its employees.
Brand Platform
The Brand Platform consists of the following elements:
• Brand Vision: The brand’s guiding insight into its world.
• Brand Mission: How the brand will act on its insight.
• Brand Values: The code by which the brand lives. Brand values measure behaviors and performance.
• Brand Personality: The brand’s personality traits (See also definition for Brand Personality).
• Brand Tone of Voice: How the brand speaks to its audiences.
Brand Portfolio
Key brand components and resources that are used to explain, communicate, and help you evangelize your brand. This includes the brand promise, brand rationale, brand attributes, sub-brands, brand attribute matrix, and elevator speech.
Brand Positioning
The distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others. Positioning involves the careful manipulation of every element of the marketing mix.
Brand Promise
The primary, valued promise made. Also called a positioning statement.
Brand Promise Testing
Determining which single promise, of the multiple promises created during promise clarification, is most understandable, important, believable, and distinctive to your audiences
Brand Protection
There are many ways in which marketeers choose to promote their brands or fight competing brands. Many choose to register their brand as trademarks adding statutory protection to their brands.
Brand Rationale
An explanation, most often written for internal audiences, as to why your brand promise is of value; the rationale is not an explanation of how the brand promise was created, but rather a concise description of the logic behind the determination of your brand promise
Brand Relevance
Every program clarifies a definable market position.
Brand Strategy
A plan for the systematic development of a brand to enable it to meet its agreed objectives. The strategy should be rooted in the brand’s vision and driven by the principles of differentiation and sustained consumer appeal. The brand strategy should influence the total operation of a business to ensure consistent brand behaviors and brand experiences.
Brand Tone of Voice
How the brand speaks to its audiences.
Brand Valuation
The process of identifying and measuring the economic benefit – brand value – that derives from brand ownership.
Brand Values
The code by which the brand lives. The brand values act as a benchmark to measure behaviors and performance. (See also Brand Platform)
Brand Vision
Branding, selecting and blending tangible and intangible attributes to differentiate the product, service or corporation in an attractive, meaningful and compelling way.
Branding
The process by which both a brand and brand identity are developed
Branding in the Internet Era
Many companies have realized different dynamics with their consumers in the internet era. The consumers do not simply consume products and brands, but are actively engaged in creating and building brands of their interest online. For example, YouTube is used to upload individual online user-created commercials of products. Companies and management need to learn, embrace, and engage these new consumers (or newly defined as iCitizens by Kelly Mooney, the author of The Open Brand and The Ten Demandments) in order to sustain and strengthen their brand.
C
Cannibalization
A particular problem of a “multi-brand” approach, in which the new brand takes business away from an established one which the organization also owns. This may be acceptable (indeed to be expected) if there is a net gain overall. Alternatively, it may be the price the organization is willing to pay for shifting its position in the market; the new product being one stage in this process. Abercrombie & Fitch is a multi-brands company, with brands Abercrombie Kids, Gilly Hicks, Hollister Co., and Ruehl No.925.
Co-Branding
a.) Co-branding uses multiple brand names to market a single product or service. For example, Betty Crocker brownie mix incorporates Hershy’s chocolate syrup.
b.) The use of two or more brand names in support of a new product, service or venture.
Communication
The creation of customized and segmented messages founded on careful listening that addresses both institution and audience needs and goals
Competitive Positioning
Developing and communicating powerful and meaningful differences between your offerings and those of your competition
Core Competencies
Relates to a company’s particular areas of skill and competence that best contribute to its ability to compete.
Corporate Identity
At a minimum, is used to refer to the visual identity of a corporation (its logo, signage, etc.), but usually taken to mean an organization’s presentation to its stakeholders and the means by which it differentiates itself from other organizations.
Counterfeiting
When an organization or individual produces a product that looks like a branded product and is packaged and presented in a manner to deceive the purchaser.
Country of Origin
The country from which a given product comes. Customers’ attitudes to a product and their willingness to buy it tend to be heavily influenced by what they associate with the place where it was designed and manufactured.
Creative Boards
The brand promise is translated, visually and verbally, into creative personas for each key audience
Customer Characteristics
All distinguishing, distinctive, typical or peculiar characteristics and circumstances or customers that can be used in market segmentation to tell one group of customers from another.
Customer Relationship Management (CRM)
Tracking customer behavior for the purpose of developing marketing and relationship-building processes that bond the consumer to the brand. Developing software or systems to provide one-to-one customer service and personal contact between the company and the customer.
Customer Service
The way in which the brand meets its customers’ needs via its various different channels (for example, over the telephone or Internet in the case of remote banking, or in person in the case of retail or entertainment).
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D
Demographics
The description of outward traits that characterize a group of people, such as age, sex, nationality, marital status, education, occupation or income. Decisions on market segmentation are often based on demographic data.
Differential Product Advantage
A feature of a product that is valuable to customers and is not found in other products of the same category.
Differentiation
Creation or demonstration of unique characteristics in a company’s products or brands compared to those of its competitors.
Differentiator
Any tangible or intangible characteristic that can be used to distinguish a product or a company from other products and companies.
Diversion
When genuine product is sold to a buyer in one market/channel and then resold by the same buyer into another market/channel, without the consent or authority of the brand owner, to take advantage of a price arbitrage situation. Definition also applies to parallel trade, gray market or gray market activities.
E
Elevator Speech
A consistently used, memorized statement that summarizes, in a meaningful way, the essence of your brand and your institution. This “speech” is given, usually verbally, when someone says, “Tell me about your school”
Endorsed brand
(See Brand Architecture.) Generally a product or service brand name that is supported by a masterbrand – either dominantly e.g. Tesco Metro or lightly e.g. Nestle Kit-Kat.
F
Freestanding Brand
(See Brand Architecture.) A brand name and identity used for a single product or service in a portfolio, which is unrelated to the names and identities of other products in the company’s portfolio.
FMCG
Fast moving consumer goods. An expression used to describe frequently purchased consumer items, such as foods, cleaning products and toiletries.
Focus Group
A qualitative research technique in which a group of about eight people is invited to a neutral venue to discuss a given subject, for example hand-held power tools. The principle is the same as an in-depth interview, except that group dynamics help to make the discussion livelier and more wide-ranging. Qualitative groups enable the researcher to probe deeper into specific areas of interest (for example, the nature of commitment to a brand). The result adds richer texture to the understanding of broader data (for example, quantitative), which may paint general trends or observations. Also known as a group discussion.
Functionality
What a product does for the buyer and user; the utility it offers the user; what he or she can do with it.
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G
Generic and private-label brands
With the emergence of strong retailers, the “own brand”, the retailer’s own branded product (or service), emerged as a major factor in the marketplace. Where the retailer has a particularly strong identity, such as, in the UK, Marks & Spencer in clothing, this “own brand” may be able to compete against even the strongest brand leaders, and may dominate those markets which are not otherwise strongly branded. There was a fear that such “own brands” might displace all other brands (as they have done in Marks & Spencer outlets), but the evidence is that—at least in supermarkets and department stores—consumers generally expect to see on display something over 50% (and preferably over 60%) of brands other than those of the retailer. Indeed, even the strongest own brands in the United Kingdom rarely achieve better than third place in the overall market. In the US, Target has “own” brands of “Market Pantry” and “Archer Farms” each with unique packaging and placement. At the same time, generic (that is, effectively unbranded goods) have also emerged. These made a positive virtue of saving the cost of almost all marketing activities; emphasizing the lack of advertising and, especially, the plain packaging (which was, however, often simply a vehicle for a different kind of image). It would appear that the penetration of such generic products peaked in the early 1980s, and most consumers still seem to be looking for the qualities that the conventional brand provides.
Goods
A product consisting predominantly of tangible values. Almost all goods, however, have intangible values to a greater or lesser extent.
Graphic Identity
The visual elements of your brand. Often includes institutional name, wordmark, logo, other graphic elements, and standards
Group Discussion
See Focus Group.
H
High Technology (high tech)
A term with vague and far-reaching meaning. This covers electronics, data technology, telecommunications, medical technology and bio-chemistry. In order to be classed as a high tech company, one definition is that at least 35% of staff should have a technical qualification, and at least 15% of sales should be used for R&D. Another definition states that the company must employ twice as many scientists and engineers and invest twice as much in R&D as the average of all manufacturing companies in the country.
I
Identity
Two meanings, both valid: a.) The sum of all the characteristics, tangible and intangible, that make the offer unique. b.) The elements of brand identification e.g., the name, symbol and colors, by which an offer can be identified.
Image
A set of attitudes or beliefs that a person or audience holds about a college or university. Institutions have multiple images, many of which are inaccurate and out-of-date
Intangibles
Incapable of being touched. Intangible assets are trademarks, copyrights, patents, design rights, proprietary expertise, databases, etc. Intangible brand attributes are brand names, logos, graphics, colors, shapes and smells. (See Service Brand)
Integrated Marketing (IM)
An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships at multiple touchpoints in ways that benefit the organization and its stakeholders (AMA, 2004)
Integrated Marketing Communications (IMC)
A comprehensive, coordinated, institution-wide effort to communicate mission-critical values and messages in ways that target audiences notice, understand, and respond to. IMC incorporates brand marketing, direct marketing, and supports customer relationship management
Integrated Technology
Every initiative drives a marketing strategy.
J
K
L
Launch
The initial marketing of a new product in a particular market. The way in which the launch is carried out greatly affects the product’s profitability throughout its lifecycle.
M
Marketing Action Plans
Clarification of who will do what and when to achieve your marketing goals
Marketing ROI
Every campaign supports a measurable sales goal.
Marketplace
A subset of the larger environment in which the college or university must create sustaining exchange relationships with key audiences
Market Leader
A company that has achieved a dominant position – either in scale (e.g., British Airways) or influence (e.g., Virgin) – within its field. This leading position often comes about because the company was the first to market a certain type of product and, with the protection of a patent, has managed to consolidate its position before direct competition was possible. Alternatively, a company may overtake a previous market leader through greater efficiency and skilful positioning.
Market Position
A measure of the position of a company or product on a market. Defined as market share multiplied by share of mind.
Market Segment
A group of customers who share the same needs and values, can be expected to respond in much the same way to a company’s offering, and command enough purchasing power to be of strategic importance to the company.
Market Share
A company’s share of total sales of a given category of product on a given market. Can be expressed either in terms of volume (how many units sold) or value (the worth of units sold).
Mass Marketing
Simultaneous standardized marketing to a very large target market through mass media. Other names for this are market aggregation and undifferentiated marketing.
Masterbrand
A brand name that dominates all products or services in a range or across a business. Sometimes used with sub-brands, sometimes used with alpha or numeric signifiers. (See also Monolithic Brand) Audi, Durex, Nescafe and Lego, for example, are all used as masterbrands.
Monolithic Brand
A single brand name that is used to “masterbrand” all products or services in a range. Individual products are nearly always identified by alpha or numeric signifiers. Companies like Mercedes and BMW favor such systems.
Multibrand Strategy/Multiple Branding
Marketing of two or more mutually competing products under different brand names by the same company. The motive may be that the company wishes to create internal competition to promote efficiency, or to differentiate its offering to different market segments, or to get maximum mileage out of established brands that it has acquired. When a company has achieved a dominant market share, multibrand strategy may be its only option for increasing sales still further without sacrificing profitability. For example, Lever Brothers sells washing powders under the Persil, Omo and Surf names; Cadbury sells chocolates under the Dairy Milk, Bournville and Fruit & Nut names; Heinz sells canned convenience foods under the Baked Beans, Spaghetti Hoops and Alphabetti Spaghetti names.
Multiple Brands
In a market fragmented with many brands, a supplier can choose to launch new brands apparently competing with its own, existing strong brand (and often with an identical product), simply to obtain a greater share of the market that would go to minor brands. The rationale is that having 3 out of 12 brands in such a market will give garner a greater, overall share than having 1 out of 10 (even if much of the share of these new brands is taken from the existing one). In its most extreme manifestation, a supplier pioneering a new market which it believes will be particularly attractive may choose immediately to launch a second brand in competition with its first, in order to pre-empt others entering the market.
N
Niche Marketing
Marketing adapted to the needs, wishes and expectations of small, precisely defined groups of individuals. A form of market segmentation, but aimed at very small segments. Niche marketing characteristically uses selective media.
O
OEM
Market OEM stands for Original Equipment Manufacturers. The OEM market consists of companies that use another company’s product as a component in their own production. A manufacturer of ball bearings, for example, sells both to OEM customers who build the bearings into machines, and to end users who need the bearings as spare parts for machines that they have bought from the OEMs. Most manufacturing companies thus have an OEM market and a replacement market. The latter is usually called the MRO market or aftermarket.
Offering
What a company offers for sale to customers. An offering includes the product and its design, features, quality, packaging, distribution, etc., together with associated services such as financing, warranties and installation. The name and brand of the product are also part of the offering.
P
Packaging Design
The design of the package form factor and graphic branding that will protect a companies product offerings.
Parent Brand
A brand that acts as an endorsement to one or more sub-brands within a range.
Passing Off
The name given to a legal action brought to protect the “reputation” of a particular trademark/brand. In essence, the action is designed to prevent others from trading on the reputation/goodwill of an existing trademark/brand. The action is only available in those countries that recognize unregistered trademark rights (for example the UK and US). In some countries, it is called “unfair competition action.”
Perceptual Mapping
Graphic Analysis and presentation of where actual and potential customers place a product or supplier in relation to other products and suppliers. Most perceptual maps show only two dimensions at a time, for example price on one axis and quality on the other. There also are methods of graphically analyzing and presenting measurement data in three or more dimensions.
Planning
A formalized attitude and process that involves selecting a rational course of collective action to achieve a future state of affairs. It includes assessing the present state, setting goals, gathering and analyzing information, evaluating information, developing budgets, making decisions, and acting
Position
Very similar to a brand, a position is where your target audiences place you in their minds; the words they use to describe you when asked
Positioning
The act of building a valued and preferred brand promise or position in the minds of your target audience (also called brand marketing)
Positioning Statement
a.) A written description of the position that a company wishes itself, its product or its brand to occupy in the minds of a defined target audience.
b.) A concise written statement of the positioning concept, conveying the essential features of the brand and its niche.
Power Branding
A strategy in which every product in a company’s range has its own brand name which functions independently, unsupported by either the company’s corporate brand or its other product brands. Power branding is a resource-intensive strategy, since each brand must be commercially promoted and legally protected. This strategy is used mainly by manufacturers of consumer goods. Lever’s and Procter & Gamble’s detergents are good examples of power brands.
Product Brand
A brand which is synonymous with a particular product offering, such as Cheerios.
Promotion
The downward distribution of messages from a college or university to target audiences that focus almost solely on organizational needs and goals (to contrast, see Communication, above)
Q
R
Rebrand
When a brand owner revisits the brand with the purpose of updating or revising based on internal or external circumstances. Rebranding is often necessary after an M&A or if the brand has outgrown its identity/marketplace.
Relative Market Share
Your own company’s market share compared to those of your competitors. A large share confers advantages of scale in product development, manufacturing and marketing. It also puts you in a stronger position in the minds of customers, which has a positive influence on pricing.
Relaunch
Reintroducing a product into a specific market. The term implies that the company previously marketed the product but stopped marketing it. A relaunched product has usually undergone one or more changes. It may, for example, be technically modified, rebranded, distributed through different channels or repositioned.
Repositioning
Communications activities to give an existing product a new position in customers’ minds and so expanding or otherwise altering its potential market. Many potentially valuable products lead an obscure existence because they were launched or positioned in an inadequate manner. It is almost always possible to enhance the value of such products by repositioning them.
Rollout
The process by which a company introduces a new product or service to different geographical markets or consumer segments.
S
Segmentation
Dividing large, heterogeneous populations into smaller, homogenous subpopulations and creating, based on research, customized and more desirable messages, products, and services
Selective Media
Media that, unlike mass media, reach only small and identifiable groups of people, for example, members of a particular profession or industry or other groups defined by geographic, demographic or psychographic data (otherwise known as targeted media).
Service Brand
A product consisting predominantly of intangible values. “A service is something that you can buy and sell, but not drop on your foot” (The Economist). In this sense, a service is something that you do for somebody, or a promise that you make to them.
Share of Mind
There are many definitions of share of mind. At its most precise, share of mind measures how often consumers think about a particular brand as a percentage of all the times they think about all the brands in its category. More loosely, share of mind can be defined simply as positive perceptions of the brand obtained by market research. Whereas market share measures the width of a company’s market position, share of mind can be said to measure its depth.
Share of Voice
The media spending of a particular brand when compared to others in its category.
Sub-brand
A product or service brand that had its own name and visual identity to differentiate it from the parent brand.
Sub-brands
Separate, complementary brands that are developed when the larger institutional brand is too broad to differentiate the benefits or unique attributes of a particular department or school. For example, sub-brands are created when a college or university wants to clearly associate an entity—such as a law school or football program—with the larger institution; ideally, sub-brands are created at the same time as the larger institutional brand and should be complementary in nature
T
Tagline
A brand promise expressed in “shorthand”
Tangibles “Tangible”
Capable of being touched. Tangible assets are manufacturing plants, bricks and mortar, cash, investments, etc. (2) Tangible brand attributes are the product and its packaging. Tangible brand values are useful qualities of the brand known to exist through experience and knowledge.
Target Market
The market segment or group of customers that a company has decided to serve, and at which it consequently aims its marketing activities.
Top-of-Mind
What is present in the uppermost level of consciousness; the manufacturer or brand that people in market surveys name first when asked to list products in a specific category. Top-of-mind is the highest degree of share of mind. To attain that position, a company normally needs to have a large share of voice in its category.
Touchpoints
Are all the differing points of contact a company will interface with its potential customers and customers.
Trademark
“Any sign capable of being represented graphically which is capable of distinguishing goods or services of one undertaking from those of another undertaking” (UK Trade Marks Act 1994).
Trademark Infringement
A trademark registration is infringed by the unauthorized use of the registered trademark, or of one that is confusingly similar to it, on the registered goods or services, or in certain circumstances on similar or dissimilar goods and services.
Trendsetter
Someone or thing that breaks a traditional mold or routine and gains a following because of it. iMac is an example of trendsetting in design as now office supplies come in the familiar colors and translucent packaging of an iMac.
Types of Brands
A number of different types of brands are recognized. A “premium brand” typically costs more than other products in the category. An “economy brand” is a brand targeted to a high price elasticity market segment. A “fighting brand” is a brand created specifically to counter a competitive threat. When a company’s name is used as a product brand name, this is referred to as corporate branding. When one brand name is used for several related products, this is referred to as family branding. When all a company’s products are given different brand names, this is referred to as individual branding. When a company uses the brand equity associated with an existing brand name to introduce a new product or product line, this is referred to as “brand leveraging.” When large retailers buy products in bulk from manufacturers and put their own brand name on them, this is called private branding, store brand, white labeling, private label or own brand (UK). Private brands can be differentiated from “manufacturers’ brands” (also referred to as “national brands”). When two or more brands work together to market their products, this is referred to as “co-branding”. When a company sells the rights to use a brand name to another company for use on a non-competing product or in another geographical area, this is referred to as “brand licensing.” An “employment brand” is created when a company wants to build awareness with potential candidates. In many cases, such as Google, this brand is an integrated extension of their consumer.
U
User Segmentation
Division of potential customers into market segments according to how and for what purpose they use a product.
V
Visual Identity
What a brand looks like – including, among other things, its logo, typography, packaging and literature systems.
W
X
Y
Z
