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Baines et al.: Fundamentals of Marketing Chapter 6: Proposition and Branding Decisions Worksheet 6.1 Chapter Reference Chapter 6: Proposition and Branding Decisions Overview This worksheet is focused on the importance of building a brand. There are several important questions that marketers must answer, which will be considered in this worksheet. How will your target audience form a perception of your brand? What decisions regarding brand creation and communications must marketers manage to build successful brands? What are the criteria for successful branding decisions? Learning Outcomes After completing this worksheet you should: understand how to build brands; be able to explain the characteristics and principal types of brands and branding; be able to propose a brand name using the six brand name criteria. Worksheet 1) Imagine you are embarking on an entrepreneurial venture and you are about to launch your new active-wear and sportswear ranges for a fashion-conscious, urban crowd. Based on the brand-building process model developed by Keller (2009), discuss the necessary steps you need to take in order to make your target audience identify with the new brand you are aiming to build. Typology of Brand Brand Pyramid Elements Brand Salience Brand Performance Brand Imagery Brand Judgements Brand Feelings Brand Resonance Now consider that you need to define the true characteristics of your brand. The next exercise will help you to develop brand personality, based on Aaker’s (1997) scale. Note that the the main purpose is to introduce this brand as sporty, sexy and stylish, offering active-wear and sportswear products suitable for a modern, sophisticated, urban taste. In the chart below, please rank each dimension on a scale from 1-5, with 1 being “not important” and 5 being “very important” for your brand. © Oxford University Press, 2017. All rights reserved. Baines et al.: Fundamentals of Marketing Chapter 6: Proposition and Branding Decisions Five dimensions of psychosocial meaning Sincerity Down-to Earth, Honest, Wholesome, Cheerful Excitement Daring, Spirited, Imaginative, Up-to-Date Competence Reliable, Intelligent, Successful Sophistication Upper-Class, Charming Ruggedness Outdoorsy, Tough 2) Continue this exercise by proposing a brand name for the brands discussed in the previous questions. Remember the six criteria of choosing a brand name. Why do you think the selected name is appropriate? Brand name: Is it... Yes/No? easily recalled, spelled, and spoken? strategically consistent with the organization’s branding policies? indicative of the product’s major benefits and characteristics? © Oxford University Press, 2017. All rights reserved. Why? Baines et al.: Fundamentals of Marketing Chapter 6: Proposition and Branding Decisions distinctive? meaningful to the customer? capable of being registered and protected? © Oxford University Press, 2017. All rights reserved.