Brand terminology

Brand Terminology
Here are some commonly used terms in Brand Management −

Term

Description

B2C E-Commerce

It is the online selling of goods and services to the final consumers.

Brand Association

It is the degree to which a specific product/service is recognized within its product or service category. For example, a person asking for Xerox wants to actually make true copies of a paper document.

Brand Awareness

It is the extent to which the consumer knows and can recall the brand.

Brand Cannibalism

When two brands in the same product line, offered by a company target the same market segment, and compete with each other by eating away the market share.

Brand Equity

It is the positive differential effect on the consumer about the branded product or service after knowing the brand. It is the potential of the brand to impact the business.

Brand Extension

It means using a successfully established brand name for one segment to enter another segment in the same brand market.

Brand Extension

It is using a successful brand name to launch a new or modified product under a new category.

Brand Image

It is the perception a consumer develops for a brand as reflected by the brand associations and holds in memory.

Brand Image or Brand Description

It is the association or belief the customer has towards a brand. It is not quantifiable.

Brand Personality

Brand is seen as if how it was if it were a human being.

Brand Proliferation

When one company introduces new brands in the same product lines with the aim to cover every market segment for that product line.

Brand Promise

It is the functional and emotional benefits that customer receives when he experiences products or services of a brand.

Brand Rejuvenation or Revitalizing

When marketers recognize the declining status of a brand and extend the life of brand by adding new product features, packaging, or presentation, it is called Brand Rejuvenation.

Brand Strength or Brand Loyalty

It is the measure of a customer’s attachment towards the brand. It is quantifiable.

Brand Stretching

It means using a successful brand name to explore a different market.

Brand Recall

It is the ability of the consumer to generate and retrieve the brand in their memory.

Brand Value

It is the total value of a brand as a separable asset when it is sold, or included in a balance sheet. It is quantifiable and considered as an accounting issue.

Chain Store

Multiple outlets that are owned and controlled in common, have same central buying and merchandising, and sell similar merchandise.

Co-branding

Alliance of multiple brands to launch a product or service in the market.

Commodity

It is a raw material or a primary agricultural product that can be bought or sold.

Consumer Brand Equity

Brand Strength + Brand Image.

Differentiation

The ability of a brand to stand apart from its competitors.

E-Business

The business running on the electronic platform such as Internet

E-Commerce

Buying and selling processes enabled by electronic means such as Internet.

Exchange

The act of obtaining something desired by offering something.

Export

It is entering a foreign market by selling the goods (maybe with a little modification) that are manufactured in the home country of a business.

Family Brand

It is when a parent brand is associated with multiple brands with brand extension.

Fashion

A contemporary style accepted in the given field.

Global Branding

Exposing brand into foreign markets.

Lifestyle

A person’s pattern of living as expressed in its activities, interests and preferences.

Market Segmentation

It is a marketing strategy of dividing a broad target market into groups of consumers, businesses or countries having common needs, interests, and priorities, and then designing and implementing strategies to target them.

Market Share

It is the percentage of market’s total sales earned by a particular company over a specified time period.

Marketing Mix

It is the selection of different Ps (Product/Service, Price, Place, and Promotion) an organization uses to bring the product or service to the market.

Multi-Brand Portfolio

It is the coherent collection of brands, sub-brands, and co-brands included in the overall offering of the company, where each brand has a defined place and role.

Parent Brand

The one under which a company launches a new product.

Sub-Brand

The one which is associated with the already established brand.

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