What is the practice of placing two or more brand names on the same product?
CardsTerm productDefinition everything, both favorable and unfavorable, that a person receives in an exchangeTerm family brandDefinition marketing several different products under the same brand nameTerm cobrandingDefinition placing two or more brand names on a product or its package69 more rows•Mar 29, 2009
What is ingredient branding example?
Other examples of ingredient branding include: NutraSweet and Canderel, a brand name for the artificial sweetener Aspartame in the food industry (Coca-Cola lite) Teflon as a coating for pots and pans and Gore-Tex for sportswear (both products are brand names for polytetrafluoroethylene)
What are the two primary reasons why brands are used?
What are the two main reasons why brands are used? To identify a product and set it apart from competitors' products.
Which global brand name strategy is useful when the marketer wants the brand to appear to be a local brand or when regulations require localization?
2. A one-brand-name strategy is useful when the marketer wants the brand to appear to be a local brand, or when regulations require localization. You just studied 36 terms!
What are the types of co-branding?
Types of co-branding strategiesIngredient co-branding. ... Same-company co-branding. ... National to local co-branding. ... Joint venture or composite co-branding. ... Multiple sponsor co-branding.
What is composite co-branding?
Composite co-branding This involves a partnership between two or more companies to invent and produce a new product or service for their target audiences. For example, British Airways and Citibank partnered up to release a credit card that automatically registers members to the British Airways Executive Club.
What is brand equity with example?
Brand equity has a direct effect on sales volume because consumers gravitate toward products with great reputations. For example, when Apple releases a new product, customers line up around the block to buy it even though it is usually priced higher than similar products from competitors.
What is brand equity model?
Brand equity models are designed to establish the way in which brand value is created for a brand. Each of the brand equity models offers a deep insight into the brand value concept and the ways to evaluate it. Brand equity models are used to design marketing strategies at various stages.
What is brand and brand strategy?
A branding strategy (a.k.a. brand development strategy) is the long-term plan to achieve a series of long-term goals that ultimately result in the identification and preference of your brand by consumers.
What is localized marketing?
At its core, a localized marketing strategy is a method of crafting campaigns that account for various aspects of a culture's buying habits. It takes into consideration the local customs, taboos, and preferences of the audience as they are engaging with a brand.
What is global marketing strategy?
A global marketing strategy (GMS) is a strategy that encompasses countries from several different regions in the world and aims at co- ordinating a company's marketing efforts in markets in these countries. A GMS does not necessarily cover all coun- tries but it should apply across several regions.
What is integrated global marketing strategy?
Integrated Global Marketing Strategy Globalization includes not only the product but also the communications strategy, pricing and distribution as well as such strategic elements as segmentation and positioning. Such a strategy may be advisable for companies that face completely globalized customers along the lines.
What is an ingredient logo?
Ingredient Branding highlights a specific component or brand attribute to enhance a product or a service. It is a long-term process in which the ingredient is becoming a part and cannot be separated from the final product.
What are the benefits of ingredient branding?
Diversify your marketing strategy Ingredient branding can act as a powerful, high-impact and cost-effective alternative. The inherent equity of an ingredient brand communicates a compelling and credible benefit to your customers without exhausting all your internal resources.
What is umbrella branding with example?
An umbrella brand is a single brand that sells multiple products under its brand name. These products are typically related to each other in some way. For example, the Apple brand sells a number of items that are marketed as Apple products, such as the iPhone, Mac, iPad, Apple Watch, and so on.
What is brand extension example?
Brand extension can be as obvious as offering the original product in a new form. For example, the Boston Market restaurant chain launched a line of frozen dinners under its own name, offering similar fare. Another form of brand extension combines two well-known products.