What are the three choices in branding when a firm introduces a new product?
A brand occur when a firm uses an ______________ brand name to introduce a new product.
What is a sub-brand?
What is the parent brand?
What is a family brand?
What are the two general categories of brand extensions?
What are the two major advantages of brand extensions?
Discuss different ways of how extensions can help facilitate new product acceptance.
What are the specific ways brand extensions can help provide feedback to the parent brand?
What are the three consumer-related factors based on which successful likelihood of creating a positive image for an extension depends?
Successful brand extensions must achieve desired ___________ of parity and points of _____________.
The effects of an extension on consumer band knowledge will depend on what four factors?
Vertical brand extensions, which extend the brand up into more premium market segments or down into more _________________ segments, are a common means of attracting _____________ groups of consumers.
What are the advantages and disadvantages of vertical brand extensions?
Concern about the ________________ of consumers to update their brand knowledge was what led Honda, Toyota, and Nissan to introduce their luxury car models as separate nameplates/brands (Acura, Lexus, and Infiniti, respectively).
By developing unique brand names, companies pursuing vertical expansion can avoid a _____________ transfer of equity from a ‘lower’ brand to a ‘higher’ brand, but they sacrifice some ability to transfer ____________ associations from the parent brand to the extension.
Outline the 7 steps in successfully introducing brand extensions.
What are 16 the extension guidelines based on academic research, as outlined in the textbook?
Reading Questions Chapter 13 Managing Brands Over Time
What is the main assertion of this chapter?
What are the two main strategies discussed in this chapter for marketers to use when managing brands over time?
What are the two questions marketers must consider when reinforcing brand equity over time?
One rule for modern branding is that brands can never ___________ still. Brands must be constantly moving ________________.
What are the three issues the author discusses in this chapter that are important considerations for brand reinforcement?
The most important consideration in reinforcing brands is _________________ in the nature and amount of marketing support the brand receives. Brand ______________ is critical to maintaining the strength and favorability of brand associations.
Being consistent does not mean that marketers should avoid making any _____________ in the marketing program. On the contrary, managing brand equity with consistency may require making numerous tactical shifts and changes in order to maintain the strategic thrust and direction of the brand.
The strategic positioning of many leading brands has been kept remarkably __________ over time by the retention of key elements of the marketing program and the ___________ of the brand meaning.
Brands sometimes return to their roots to remind existing or lapsed customers or to attract new ones. What is this effort called?
_______________ guides strategic direction and does not necessarily prescribe the particular tactics of the supporting marketing program for the brand at any one point in time. Unless some change in either ___________ behavior, _____________, or the ____________ makes the strategic positioning of the brand less powerful, there is likely little need to deviate from a successful positioning.
Ideally, the key sources of brand equity are of _____________ value.
In managing brand equity, marketers face tradeoffs between activities that ______________ brand equity and those that _____________ or capitalize on existing brand equity to reap some financial benefit.
When fine-tuning the supporting marketing program, the firm should make changes in the specific tactics only when it is clear that the tactics are no longer making desired contributions to ________________ or _______________ brand equity.
The way brand meaning is reinforced may depend on the __________________ of brand associations. The way our book is organized looks at the two different types: product-related performance and non-product-related imagery associations. You may recall that these are the building blocks from the second level of the Resonance Pyramid, addressing Brand _____________.
For brands whose core associations are primarily product-related performance attributes or benefits, _________________ in product design, manufacturing, and merchandising is especially critical to maintaining or enhancing brand equity. Said in another way: Product ___________s are critical for performance-based brands whose sources of equity reside primarily in product-related associations.
Although innovation is important, it is crucial not to change products too much especially if the brand _____________ for consumers is wrapped up in the product design or makeup. In making product changes to a brand, marketers want to reassure loyal consumers that it is a better product, but not necessarily a _____________ one.
For brands whose core associations are primarily non-product-related attributes and symbolic or experiential benefits, ________________ in user and usage ______________ is especially critical.
It is too dangerous to frequently switch back and forth between product-related performance and non-product-related imagery associations. Significant repositionings may be dangerous when brand images are extremely ___________. For dramatic repositionings to work, marketers must present convincing new brand claims in a ______________ fashion.
Reinforcing brand equity requires _____________ in the amount and nature of the supporting marketing program for the brand. Product ___________ and ______________ are paramount in maintaining continuity and expanding the meaning of the brand.
What is the fundamental questions marketers should ask themselves at the end of every day, week, month, quarter, and year?
In virtually every product category are examples of once prominent and admired brands that have fallen on hard times or even completely disappeared. For a successful turnaround, brands sometimes have to return to their roots to recapture lost sources of _______________; sometimes the brand _____________ has to fundamentally change to recapture market leadership. Brands on the comeback trail must make more ‘__________________’ than ‘evolutionary’ changes to reinforce brand meaning.
Revitalization strategies run along a continuum, with pure _________________ at one end and pure _________________ at the other. Many campaigns combine elements of both.
What are the two strategic options on how to best refresh old sources of brand equity or create new ones to achieve the intended positioning?
With a fading brand, often _____________ of awareness is not a problem – consumers can still recognize or recall the brand under certain circumstances. Rather, the ___________ of brand awareness is the stumbling block because consumers tend to think of the brand only in very narrow ways. In order to overcome this challenge, marketers try to increase usage either by increasing the level or the ______________ of consumption (how much consumers use the brand), or by increasing the ________________ of consumption (how often they use it).
Increasing frequency of use requires either identifying new opportunities to use the brand in the _____________ basic way or identifying completely __________ and ______________ ways to use it. The second approach of new usage applications may require more than just new ad campaigns or merchandising approaches; sometimes they can arise from new packaging.
In order to improve the strength, favorability, and uniqueness of brand associations making up the brand image in a repositioning effort, we may need to bolster any _____________associations that have faded, _______________ any negative associations that have been created, and ________________ additional positive associations.
As part of improving brand image in a brand revitalization strategy, marketers often focus on taking actions with one or more of the four key target market segments. What are the four key target market segments in this context?
Which of the four target market segments in #26 is the riskiest option to focus on and why?
In order to retain vulnerable customers and recapture lost customers, firms may have to simply ______________ consumers of the virtues of a brand they have forgotten about or begun to take for granted.
If recapturing vulnerable or lost customers is not possible, identifying and pursuing ______________ segments is the next-most viable brand revitalization option. The final strategic targeting option for revitalizing a fading brand is simply to more or less _______________ the consumer group that supported it in the past to target a completely new market segment.
Repositioning the brand sometimes requires us to establish more compelling __________________. At other times, we need to reposition a brand to establish a ___________________ on some key image dimension.
What is a common problem for marketers of established, mature brands?
What is a problem faced by heritage brands?
Managing brand equity and the brand portfolio requires taking a _____________ view and carefully considering the ___________ of different brands in the portfolio and their relationships over time. Sometimes a brand refresh just requires cleaning up the brand _________________.
The brand _____________ strategy is one that helps consumers understand how various brands in the portfolio can satisfy their needs as consumers change over time, or as the products and brands themselves change over time. It is a strategy that helps consumers migrate from one brand to another within a firm’s portfolio. Ideally, brands should be organized in consumers’ minds so they know at least implicitly how they can switch among them as their needs or desires change. For example, a BMW consumer may wish to trade up as their financial situations change; or a Toyota consumer may change their cars within Toyota depending on their family life stages.
Why should a firm proactively develop strategies to attract new customers, especially younger ones?
What is an orphan brand?
A first step in retrenching a fading brand is to ____________ the number of its product types to reduce the cost of supporting the brand and allow it to put its best foot forward to more easily hit profit targets and sufficiently milk or harvest profits for as long as possible. When a brand is beyond repair, marketers have to take more drastic measures, such as ____________ it into a stronger brand. Finally, a permanent decision is to ______________ the product altogether. Companies sometimes _________ off their orphan brands when sales drop too far; other companies sell the orphan brands.
What is the value of old brands?
When making the decision to retire a brand, what is the fundamental issue?
When a crisis develops for a brand, being ___________ and ____________ are of paramount importance. Companies that come across as unresponsive or uncaring with their customers inevitably encounter problems.