Brand Terminology

Here are some commonly used terms in Brand Management −

B2C E-CommerceIt is the online selling of goods and services to the final consumers.
Brand AssociationIt 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 AwarenessIt is the extent to which the consumer knows and can recall the brand.
Brand CannibalismWhen 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 EquityIt 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 ExtensionIt means using a successfully established brand name for one segment to enter another segment in the same brand market.
Brand ExtensionIt is using a successful brand name to launch a new or modified product under a new category.
Brand ImageIt is the perception a consumer develops for a brand as reflected by the brand associations and holds in memory.
Brand Image or Brand DescriptionIt is the association or belief the customer has towards a brand. It is not quantifiable.
Brand PersonalityBrand is seen as if how it was if it were a human being.
Brand ProliferationWhen one company introduces new brands in the same product lines with the aim to cover every market segment for that product line.
Brand PromiseIt is the functional and emotional benefits that customer receives when he experiences products or services of a brand.
Brand Rejuvenation or RevitalizingWhen 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 LoyaltyIt is the measure of a customer’s attachment towards the brand. It is quantifiable.
Brand StretchingIt means using a successful brand name to explore a different market.
Brand RecallIt is the ability of the consumer to generate and retrieve the brand in their memory.
Brand ValueIt 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 StoreMultiple outlets that are owned and controlled in common, have same central buying and merchandising, and sell similar merchandise.
Co-brandingAlliance of multiple brands to launch a product or service in the market.
CommodityIt is a raw material or a primary agricultural product that can be bought or sold.
Consumer Brand EquityBrand Strength + Brand Image.
DifferentiationThe ability of a brand to stand apart from its competitors.
E-BusinessThe business running on the electronic platform such as Internet
E-CommerceBuying and selling processes enabled by electronic means such as Internet.
ExchangeThe act of obtaining something desired by offering something.
ExportIt 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 BrandIt is when a parent brand is associated with multiple brands with brand extension.
FashionA contemporary style accepted in the given field.
Global BrandingExposing brand into foreign markets.
LifestyleA person’s pattern of living as expressed in its activities, interests and preferences.
Market SegmentationIt 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 ShareIt is the percentage of market’s total sales earned by a particular company over a specified time period.
Marketing MixIt 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 PortfolioIt 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 BrandThe one under which a company launches a new product.
Sub-BrandThe one which is associated with the already established brand.

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