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WorksheetsBranding
Total questions: 22
Worksheet time: 12mins
A marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance.
Also known as “brand partnership”
Co-branding
Mixed Branding
Rebranding
Brand Extension
When Do Companies Use Co-Branding?
When two companies want to collaborate on a specialized product.
When an acquisition or merger occurs, and the brand association needs to be transferred.
When the technologies and expertise of a brand could benefit that of another brand.
When two company want to come together and take each others customers, leaving them with no money.
Co-branding works well when...
the two (or more) brands complement each other. However, when mismatched, they can create good things for themselves.
The two (or more) brands complement each other. However, when the same, they can create problems for both brands.
The two (or more) brands complement each other. However, when mismatched, they can create problems for both brands.
The one brand complement itself. However, when mismatched, they can create problems for both brands.
Potential Benefits of Co-Branding:
- Gain market share with exposure to new customers
- Increase revenue with new customers
- Products are more limited than a single-brand product
- If product does not do well, both brands are to blame
-Too strong of a partner will dilute your brand
-Too weak of a partner will bring down your brand
- Possibility of negative publicity
- Gives your brand more attention and interest
- If product does well, the positive acknowledgement is shared between both brands
Potential Risks of Co-Branding:
- Too strong of a partner will dilute your brand
- Too weak of a partner will bring down your brand
- Possibility of negative publicity
- Can alienate customers that are used to a single brand name
- Products are more limited than a single-brand product
- If product does not do well, both brands are to blame
- Gain market share with exposure to new customers
- Increase revenue with new customers
-Gives your brand more attention and interest
-If product does well, the positive acknowledgement is shared between both brands
To attract more customers and/or increase sales, companies will employ brand strategies, such as:
Brand Extensions
Co-branding
Mixed Branding
Re-branding
Demographic
Geographic
Price
Place
Promotion
Product
Population
Time
Area
Place
Re-branding...
A marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance.
Changing a brand name, logo, or image of a product or company
When small elements, such as the logo, of a brand are tweaked
Re-branding
Partial Re-brand
Total Re-Brand
Brand
When a brand attempts to erase any previous brand identity, such as their brand name
Total Re-brand
Partial Re-brand
Brand
Co-Brand
Why Would a Company Re-brand?
A company chooses to rebrand when they want to.
A rebrand happens when a company want to not change their logo.
A rebrand usually happens when a company wants to evolve or shift, usually to drive growth.
A rebrand usually happens when a company does not want to evolve or shift, usually to drive growth.
Companies will choose to rebrand when...
This also can be the result of a recent event, such as a public relations crisis, a new merger or acquisition, or even if the company develops a new vision or philosophy.
This can also be because of the company not having a scandal or a new merger.
This could be because they don't want to expand their brand or become more appealing.
This could be because they want to broaden their appeal, reposition themselves in the market, or they are expanding into a new market.
Why do companies reposition?
Companies reposition when they have so much money and can do whatever they want without a care in the world.
Companies reposition their business to target a completely new target market, whether its through changes in product, price, place, or promotion
Companies choose to reposition when they want to appeal to the customers they have always had.
Companies reposition when they don't want to change their product, place, price, or promotion.
What is an example of re branding?
Dunkin Donuts changing to Dunkin'
Krispy Creme turning into chicken wings
Mastercard changing to Truist
Gap changing to Old Navy
When do companies refresh their brand?
Companies usually refresh their brand if they are expanding into new markets, especially international markets, as they run the risk of consumers not identifying with the current logo or promotional campaigns
Companies always refresh their brand when they don't want many people to know about it.
Companies usually refresh their brand if they are expanding into old markets, especially small markets, as they run the risk of consumers not identifying with the current logo or promotional campaigns
New Vision or Philosophy happens because...
Since the mission and vision of a company guides every decision that the company makes, when there is a shift or pivoting in the mission and values, it affects branding decisions
The mission of a company to not change views or decisions and doesn't affect the brand what so ever.
Companies usually restart their brand if they are expanding into new markets, especially international markets, as they run the risk of consumers not identifying with the current logo or promotional campaigns
When rebranding is done right, a ________ will usually see an _____ __ _______ from new and existing customers, increase in product value, and a chance to stand out among its competitors
marketing/decrease in sales
marketing/increase in sales
company/decrease in sales
company/increase in sales
However, unsuccessful rebrands can lead to the exact opposite: _______ ______, facing ______ criticism, etc.
gaining customers/positive
losing customers/positive
losing customers/negative
gaining customers/positive
To avoid a rebranding fail, a company should:
Never underestimate any emotional bond consumers have with its old brand logo, colors, or designs
Make sure the logo is easy to understand and read
Be original in its designs, so as not to be confused with other brands
Ensure that the logo shows what industry the company is operating in
Total Brad
Radio Shack --> The Shack
Master card changing their look
Wendy's having a new slogan
Total Rebrand
Dunkin Donuts changing to Dunkin'
Facebook going by a completely new name
Radio Shack turning to The Shack
Master card changing it's logo
When two company's come together
Merger
Re-brand
Total Re-brand
Partial Re-brand
Is branding important
Yes
No
Maybe
I don't know
