Brand Management Mid Term Study Guide Essay

The exam will have a mix of multiple-choice questions and short answers, with a higher total number of points for short answer questions. NOTE: Anything and everything covered in class (through lectures, discussion, articles, activities, etc. ) and/or posted on Blackboard, are potential exam material. The topics listed below can be used as a Study Guide. However, from an exam point of view, that does NOT preclude the other material covered in class. Introduction to Basic Issues: defining a brand; new challenges; the concept of brand equity; steps in the strategic brand management process. Branding Innovations and New Products: Issues in branding innovations; different options in naming a new product/innovation; becoming brand exemplars; first mover issues; reasons for new branding innovations to succeed versus fail; reasons for branding an innovation. Brands, Branding, and Meaning of Brands: Brands and competitive advantage; brand story/meaning; brands and competitive advantages; brands as signals of product quality; designing branding strategy. Brand Positioning: Defining comparative frames of reference; issues related to PoP and PoD; brand positioning; product category membership; challenges in positioning; core brand values; brand mantras. Brand Extensions and Brand Portfolios: When are brand extensions appropriate? When are they successful/unsuccessful? Advantages/disadvantages of brand extensions; key aspects of brand portfolios; criteria for cutting down brands and brand extensions from a portfolio. Managing Brands over Time: Long-term vs. short-term foci and the related strategies; revitalizing a fading brand; improving and reinforcing brand image over time. HBS Cases: You should be familiar with the concepts/principles that we discussed in class in the context of the HBS cases, such as traditional vs. non-traditional branding strategies and breakaway positioning strategy.