Marketing for English: Essential Brand vocabulary
If you’re in business in the Marketing department, then you might find this marketing for English language quite useful. Revise your vocabulary knowledge first, then watch the video and read the article below which talks about the brand.
Marketing for English
- brand identity
- what the company wants the customer to think about a brand
- brand image
- what the customers/public actually think about the brand
- market leader
- a product that sells more than all similar products e.g. Red Bull
- premium brand
- a brand with a high price for quality products e.g. ferrari
- economy brand
- a brand/products with very low prices e.g. supermarket’s own-label goods
- target market
- the ideal group of people that a company aims a product at
- brand awareness
- knowing about a brand
- the person who actually uses a product. The customer buys the product but might not be the consumer e.g. children’s sweets: customer = parent, consumer = small children
- consideration set
- a group of products that a consumer will choose from e.g. a teenager may consider buying trainers from a selection of either Nike, Adidas or Puma, but not Reebok
- brand consideration
- a brand that you would think about buying when you look at all the available options
- brand loyalty
- always buying the same brand because you like it and not buying products from a rival brand
- brand ambassadors
- someone who represents the brand; the face of the brand becuase this person has certain qualities that makes the brand appealing e.g George Clooney with Lavazzo coffee
- people whose job it is to think up the ideas for cool content like adverts, videos etc
- social demographic
- a certain group of people in society e.g. Ferrari cars are NOT aimed at the student demographic
- to pitch sth at sb means ‘to aim’
- brand positioning
- where is a brand placed in the market? Is it expensive, quality or low-cost etc
- must-have item
- a product that everyone wants
- psychological pricing
- in your mind, £14.99 seems much cheaper than £15
- post-purchase dissonance
- after buying a product the customer is not completely happy because the product was not as good as they thought it would be
- post-purchase consonance
- after buying a product the customer is very happy because the product is better than they thought it would be
This latest piece of promotion from the OPI brand is undeniably compelling. The brand identity they are trying to put across to the buying public is definitely that they are cool, contemporary and high-quality.
Does that identity equate to the brand image? I think the answer would be a definite, ‘yes’. Every person that I’ve shown this to has been super impressed with the creativity, images, music and the slow reveal of the product.
Is OPI the market leader? I’m afraid that my knowledge of nail products is not good enough to know, but the marketing budget would suggest that this is a premium brand with pricing to match, rather than an economy brand.
It’s also an amazing ad because it appeals to a far larger customer base than just the target market. Nail varnish typically would be aimed at females, but this campaign is ticking all the right boxes for brand awareness for all those boyfriends and husbands out there. OK, they are not going to be the consumer, but now the males who have seen this ad would certainly have OPI in their consideration set (possibly the only product in their brand consideration). For existing female customers it works extremely well serving to cement brand loyalty.
For me, a very interesting aspect of the ad are the models, or shall we say the brand representatives or ambassadors? If you consider the top models used for fashion mega brands like Gucci, D&G etc, these girls are a lot lower down the scale. Likewise, whilst they are great dancers, they are not the absolute best – if you compare them to a Russian primera ballerina or a leading flamenco dancer etc. This is clever casting from the creatives in the advertising group to appeal to the right social demographic of customers, positioning this brand as ‘obtainable’ (as opposed to unobtainable) for female teenagers and twenty-somethings… whilst at the same time remaining aspirational. This is clearly pitched as a product for the cool girl in the street in 2013.
The only downfall I can see is in answering the question, ‘Does the product live up to expectations?’ It could well be that after seeing this ad, the ‘want factor’ could be very high and it could turn into a must-have item. However, assuming that this range might be priced at 14.99 EUR (a nice piece of psychological pricing), then there might be some post-purchase dissonance (as opposed to post-purchase consonance) coming into play. After all, the über-cool advert may lead a customer to believe that this product is going to change their lives and make them super cool or sexy, but at the end of the day it is only nail varnish!