Branding, Rebranding & Positioning
This term refers to the overall identity and image of a company in the minds of consumers.
What is Branding?
This fad product known for its creepy smile which you clip to your bag.
What is a Labubu?
These are physical products that can be touched and stored.
What are goods?
This term describes the route a product takes from producer to consumer.
What is channel of distribution?
The point where a business makes enough profit to cover the expenses.
What is Break-Even?
This part of a brand includes logos, colours, fonts, and design elements.
What is Visual Identity?
DVDs and fax machines are examples of products in this PLC stage.
What is the Decline Stage?
These are experiences rather than physical items.
What are services?
Tesla selling cars directly online is an example of this type of distribution.
What is direct distribution?
Setting prices similar to competitors while competing on other factors is called this strategy.
What is competitive pricing?
This process involves updating or changing a brand’s identity to modernize or reach new audiences.
What is rebranding?
Sip this hot seasonal drink every fall from you local starbucks.
What is a pumpkin spice latte?
A Raptors basketball game is an example of this type of offering.
What is an event?
This intermediary buys products in bulk and resells them to retailers.
What is a wholesaler?
Pricing an item at $9.99 instead of $10.00 is an example of this strategy.
What is psychological pricing?
This marketing concept describes where a product sits in the consumer’s mind compared to competitors.
What is product positioning?
Luxury watches like Rolex often avoid normal PLC patterns because they are considered this type of product.
This characteristic makes services different because they cannot be stored for later.
What is intanigbility?
Producer → Retailer → Consumer is an example of this many intermediaries.
What is one intermediary?
A luxury brand that keeps prices high to signal exclusivity is using this strategy.
What is prestige pricing?
Companies create emotional connections with customers mainly to increase this.
What is Brand Loyalty?
If Apple stopped making iPods because smartphones replaced them, the iPod entered this PLC stage.
What is the decline stage?
Events are often marketed with urgency mainly because of this factor.
What is that they occur at a specific time/date?
This type of intermediary helps sell products but does not actually own them.
What is an agent?
This pricing strategy starts with low prices to quickly attract customers.
What is penetration pricing?