Discuss the business’s strengths and weaknesses in the branding factors

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Discuss the business’s strengths and weaknesses in the branding factors

To describe the process more formally, here are three important factors in predicting the extent of leverage from linking the brand to another entity:
1. Awareness and knowledge of the entity: If consumers have no awareness or knowledge of the secondary entity, then obviously there is nothing they can transfer from it. Ideally, consumers would be aware of the entity; hold some strong, favorable, and perhaps even unique associations about it; and have positive judgments and feelings about it.
2. Meaningfulness of the knowledge of the entity: Given that the entity evokes some positive associations, judgments, or feelings, is this knowledge relevant and meaningful for the brand? The meaningfulness may vary depending on the brand and product context. Some associations, judgments, or feelings may seem relevant to and valuable for the brand, whereas others may seem to consumers to have little connection.
3. Transferability of the knowledge of the entity: Assuming that some potentially useful and meaningful associations, judgments, or feelings exist regarding the entity and could possibly transfer to
Co-branding—also called brand bundling or brand alliances—occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion the brand, how strongly will this knowledge actually become linked to the brand?
A commonality leveraging strategy makes sense when consumers
have associations to another entity that are congruent with desired brand associations
Co-branding—also called brand bundling or brand alliances—occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion.
A special case of co-branding is ingredient branding, which creates brand equity for materials, components, or parts that are necessarily contained within other branded products
Licensing creates contractual arrangements whereby firms can use the names, logos, characters, and so forth of other brands to market their own brands for some fixed fee.
Corporate trademark licensing is the licensing of company names, logos, or brands for use on various, often unrelated products.

Discuss the business’s strengths and weaknesses in the branding factors

 

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Discuss the business’s strengths and weaknesses in the branding factors

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