Glossary
Unit 28: Branding
Learning aim C: Recommend Changes to a Brand for an Existing Product
Quizlet Link
Brand Management - A company's efforts to shape and manage customer perceptions of its brand.
Brand Success - Gaining new customers and retaining existing ones rather than losing them to competitors.
Brand Failure - The inability of a brand to gain and maintain customers.
Branding Relationship - The connection that a customer makes with a business and its products.
Product Lifecycle - The stages a product goes through from its development and launch to withdrawal from the market.
Brand audit - A process to examine a brand's current position in the market.
Customer Perception - Customers' thoughts, feelings, and beliefs about a company and its products.
Primary data - Original information collected for specific objectives such as questionnaires, focus groups and customer satisfaction surveys.
Secondary data - Information that already exists for another purpose but can be used to help inform strategy such as sales and revenue data and blogs.
Re-branding - The process of changing the image of a business and its products through changing elements such as names, logos, fonts and colours.
Brand refreshing - Attempts to modernise a brand's image while retaining its core identity, such as updating the appearance of its logo and visuals.
Brand relaunching - Changing the way that an existing business is communicated to customers through creating a new brand identity.
Social trends - Any activity that a large proportion of the population engages in, such as fashion, health, and music preferences.
Viral marketing - A business strategy that promotes a product through word of mouth on existing social networks by creating content that people want to share.
Emotional branding - Branding that elicits an emotional response from customers by appealing to their feelings, needs, and desires.