branding

Question 1

benefits of strong branding

Answer 1

added value
ability to charge premium price
reduced PEOD

Question 2

ways to build a strong brand

Answer 2

USP

advertising (convey sales message to target audience)

Question 3

manufactured brands

Answer 3

created by manufactures
use advertising and promotion to build brand loyalty
can charge higher price
consumers stay loyal
repeat purchases

Question 4

own label brands

Answer 4

created by retailers
good value for money
high profits for retailer
ties consumer to retailer
gives retailer bargaining power with major manufactures to supply brands at discounted rates

Question 5

brand

Answer 5

a name, logo or symbol that differentiates the business from competitors

Question 6

added value

Answer 6

the increased worth of a product

Question 7

ways to add value

Answer 7

brand increases worth
quality
convenience
USP
speed of service
design

Question 8

emotional branding

Answer 8

plays on emotions
provokes emotional response to build emotional connection with consumer
long lasting attachment = brand loyalty

Question 9

viral marketing

Answer 9

a video goes viral to draw attention to company
free marketing for company
brand awareness through word of mouth
business doesn’t have to pay for distribution of advert