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VV 18 - Marketing: Branding (Part 1) Today’s episode is the first of a two-part series on business vocabulary related to marketing and branding. In part one, we’ll focus on the essential elements of establishing a successful brand. What is a brand? Brands are what make companies and products stand out from the crowd. They have an essence, or spirit, and values that make them worthwhile to the customer. To develop a successful brand, you need to know about your demographics and the tangible and intangible benefits your products bring to your customers. Need to know how well your brand is being received? Focus groups of consumers can give information on brand awareness and brand recognition. It’s also important to think about how your company and brand will be presented visually. So you need to think about your brand’s trademark or logo, the symbols that represent the brand. Similarly, think about corporate identity and brand identity, two factors that help your customers “see” you and your products.
Vocabulary Now let’s look at the vocabulary in more detail with some definitions and examples. Brand A brand is what sets a company – or its products and services – apart from its competition. This includes the way it’s presented to the public, customers’ expectations and experiences with the brand, and the way it’s perceived by others. •
McDonald’s brand incorporates the concepts of fast food, fun, convenience, and variety.
Brand Essence Often called a brand’s “heart and soul,” brand essence refers to the fundamental spirit of the brand - what connects a brand to customers - expressed in a simple, concise, phrase. •
Hallmark produces greeting cards and gifts. essence is “Caring Shared.”
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Its brand
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VV 18 & 19 – Marketin g Vocabular y: Branding
Brand Values Brand values are the aspects of a brand that bring value to the customer. This value is why the customer chooses the brand. •
Driving a BMW can make someone feel successful and luxurious. These feelings are part of the brand’s value.
Demographics Demographics refers to information about customers, such as their age, education level, and where they live. Demographic is the adjective form. •
In October 2009, InsideFacebook.com reported demographic information about Facebook users. 29% of the users were between the ages of 18 and 25.
Tangible Something is tangible that can be perceived marketing, tangible customers can receive •
if it has a physical form, something through one of the five senses. In often refers to direct benefits from a brand.
Starbucks customers who participate in its rewards program can receive tangible benefits like free coffee drinks and wi-fi access.
Intangible Something that is intangible does not have a physical form that can be perceived through the senses. Intangible benefits are more conceptual, like a certain feeling you get when buying a product or using a service. •
The peace of mind that comes from driving a Volvo is one of the intangible benefits of the brand.
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VV 18 & 19 – Marketin g Vocabular y: Branding
Focus Group A focus group is a small group of people that represents a target demographic. The group discusses products and services so that companies can learn more about what their customers’ think about the brand or product. •
The company used data from focus groups to decide the name of their new product.
Brand Awareness When customers recognize a brand and connect it with a company’s products, they’re showing brand awareness. •
Because it is new to the United States, the Chinese sportswear company Li Ning is still developing brand awareness among Americans.
Brand Recognition When customers show that they know about a brand when asked specifically about it, they’re showing brand recognition. Brand recognition is one way to measure brand awareness. •
Toblerone’s unique packaging and strong promotion in duty-free shops add to its brand recognition.
Trademark / Logo A trademark or logo is a graphic symbol that represents the brand. Words, phrases and sounds can also be trademarks. • •
The “swoosh” is a trademark of Nike. Apple’s logo is an apple with a bite taken out of it.
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VV 18 & 19 – Marketin g Vocabular y: Branding
Corporate Identity A company’s corporate identity is the way it presents itself visually to the public. These visual elements can include color schemes, logos, words, building architecture, interior design, uniforms, and printed materials. •
To show its corporate identity, Mobil Oil consistently displays the word “Mobil” in the same text and colors on all of its signs and uniforms.
Practice Now it’s your turn to practice some of the words we have studied in this episode. You’ll hear a series of sentences with a word replaced with a beep. Repeat the whole sentence, but say the missing word. For example, if you hear: Example Cue: there.
We don’t have many stores in Asia, so we have little brand
You will say: Example answer: We don’t have many stores in Asia, so we have little brand awareness there. We’ll play an example answer after each question. Ready? Let’s begin. Cue 1: Taco Bell uses a picture of a bell in its . Learner: _ Cue 2: We learned a lot about our customers’ tastes from focus . Learner: _ Cue 3: One of our target is men over age 65. Learner: _ Cue 4: We’re going to test our brand among college students. Learner: _
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VV 18 & 19 – Marketin g Vocabular y: Branding
Answer 1: Taco Bell uses a picture of a bell in its logo. Answer 2: We learned a lot about our customers’ tastes from focus groups. Answer 3: One of our target demographics is men over age 65. Answer 4: We’re going to test our brand recognition among college students. That’s all for this Video Vocab episode, the first of a two-part series on marketing and branding. Episode Two will be published soon. In the meantime, check out our website at www.VideoVocab.TV to watch and download lots more videos on business English. Thanks for watching and see you again soon!
VV 18 - Language Review A.
Complete the following sentences using words from the box below.
intangible
essence
awareness
values
corporate
logo
brand
demographic
1. Our target demographic is adults between the ages 25 and 45. 2. BMW’s core brand 3. A
are luxury, reliability and style.
distinguishes a company from its competitors.
4. We need to build our brand so that our customers will recognize our brand and connect it to our products. 5. A
is a symbol used to represent a brand.
6. Saved time and added convenience are examples of a product’s benefits. 7. Safety is the brand 8. A company’s
of Volvo. identity is its visual presentation to the public.
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VV 18 & 19 – Marketin g Vocabular y: Branding
VV 19 - Marketing: Branding (Part 2) Today’s episode is the second of a two-part series on business vocabulary related to marketing and branding. In the last episode, we focused on developing a brand. Today, we’ll look at ways to make it successful. To be successful, a brand needs to be managed. Brand equity - its marketing strength – and differentiation – how it is different from competitors - need to be considered when developing a brand strategy, or long-term marketing plan. As always, customers are a key ingredient. Who will receive your marketing message? That’s your market segment. How do customers view the brand? That question is answered by its positioning. Do customers repeatedly buy the brand? That’s all part of brand loyalty. Once the brand is established, there are ways to take it further. Niche marketing can help you reach more specific groups of customers. Rebranding, cobranding, and brand stretching are all ways to adjust your brand in response to changing tastes and values. In the end, a successful brand will help your company become a market leader.
Vocabulary Now let’s look at these concepts in more detail with some definitions and examples. Brand Management Brand management means overseeing all aspects of a brand, such as advertising, price, and customer satisfaction so that the brand remains in a positive light, making it more profitable.
Building trust with consumers is the ultimate aim of brand management.
Brand Equity Brand equity is related to the marketing power of a brand. If a brand is well-received and popular, its power to generate sales and income is increased. This means the brand has strong brand equity.
Recent safety recalls have severely affected Toyota’s brand equity.
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VV 18 & 19 – Marketin g Vocabular y: Branding
Differentiation Differentiation is the way companies show that their brands or products are different from those of their competitors.
Some automakers are differentiation strategy.
promoting
technology
as
a
Brand Strategy Brand strategy is a long-term marketing plan for a brand. All members of an organization are involved with implementing this strategy.
To compete with Coca-Cola, a company that has existed for over 100 years, Pepsi adopted a brand strategy that targets younger consumers. Market Segment A market segment is a group of customers that tends to share values, needs, and purchasing habits. Companies often direct their advertising toward particular market segments. Teenagers are one of the main market segments for Virgin Megastores.
Positioning Positioning is the “place” a brand holds in the consumer’s view, in comparison to other brands.
The core concept behind Volvo’s positioning is “safety.”
Brand Loyalty When customers consistently choose one brand over another, they are showing brand loyalty.
Some automakers are rewarding brand loyalty by offering discounts to repeat customers.
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VV 18 & 19 – Marketin g Vocabular y: Branding
Niche Marketing Niche marketing is focused on a small portion of a market segment. So, while the market for automobiles is huge, the luxury market for 4-wheel drive vehicles is considered a niche market as it is relatively small.
Mont Blanc use niche marketing techniques to reach left-handed consumers.
Rebranding Rebranding is the process of updating or changing a brand to make it more appealing to its target audience. •
Abercrombie & Fitch was originally branded as a sporting goods company, but in the late 1980s, they rebranded as a luxury apparel retailer. Co-branding Co-branding is when two or more companies join together and use their brands to promote one product. •
For the Barbie doll’s 50th anniversary, Mattel and Fiat co-branded to produce the Barbie 500, a pink toy car.
Brand Stretching Like elastic, a brand can be stretched. When new, some times unrelated, products are added to a brand, this is brand stretching. •
Over time, Yamaha has stretched its brand from musical instruments, to motorcycles, to sports equipment.
Market Leader A market leader is a company or brand that has the largest percentage of sales and revenues. •
Our goal is to become the market leader in tennis equipment.
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VV 18 & 19 – Marketin g Vocabular y: Branding Practice Now it’s your turn to practice some of the words we have studied in this episode. You’ll hear a series of sentences with a word replaced with a beep. Repeat the whole sentence, but say the missing word. For example, if you hear: Example Cue: Our company is cooperating with Microsoft to develop a co computer mouse. You will say: Example answer: Our company is cooperating with Microsoft to develop a cobranded computer mouse. We’ll play an example answer after each exercise. Ready? Let’s begin. Cue 1: To build our sales among tall businesswomen, we need to try marketing. Learner: _ Cue 2: My sister always buys Honda cars. She’s showing brand . Learner: _ Cue 3: Our excellent reputation for quality adds to our brand . Learner: _ Cue 4: Business travelers are our largest market . Learner: _
Answer 1: To build our sales among tall businesswomen, we need to try niche marketing. Answer 2: My sister always buys Honda cars. She’s showing brand loyalty. Answer 3: Our excellent reputation for quality adds to our brand equity. Answer 4: Business travelers are our largest market segment. That’s all for this Video Vocab episode, the second of a two-part series on marketing and branding. Be sure to check out our new website at www.VideoVocab.TV to watch and download lots more videos on business English. Thanks for watching and see you again soon! © 2010 All rights reserved: businessenglishpod.com
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VV 18 & 19 – Marketin g Vocabular y: Branding Language Review A. Match each term from the left with its definition on the right.
1. positioning
a. updating or changing a brand
2. brand identity
b. overseeing all aspects of a brand
3. rebranding
c. The “place” a brand holds in the consumer’s view
4. brand essence
d. information about customers
5. brand management
e. visual aspects of a brand
6. market segment
f. aspects of a brand that bring value to a customer
7. brand values
g. group of customers that tends to share values, needs, and purchasing habits
8. demographics
h. phrase that expresses the spirit of the band
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VV 18 & 19 – Marketin g Vocabular y: Branding
B. Read the question and choose the best answer from the 3 options shown. 1. If you want to learn more about what customers’ value, you might consider using… a) niche marketing b) market leaders c) focus groups 2. Free desserts and coupons are examples of… a) intangible benefits b) tangible benefits c) co-branding 3. If a brand generates substantial sales and income, it has… a) positioning b) brand equity c) corporate identity 4. Which term describes the way companies show that their brands or products are different? a) differentiation b) brand stretching c) brand essence 5. When people consistently buy products associated with a certain brand, they’re showing… a) brand management b) brand values c) brand loyalty 6. If two or more companies use their brands to promote one product, this is called… a) rebranding b) co-branding c) brand stretching 7. Which term refers to a brand’s long-term marketing plan? a) brand strategy b) differentiation c) rebranding 8. When asked specifically about a brand, a customer shows that he knows about it. This is… a) brand loyalty b) brand identity c) brand recognition
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VV 18 & 19 – Marketin g Vocabular y: Branding Answers VV 18 Review 1. Our target demographic is adults between the ages 25 and 45. 2. BMW’s core brand values are luxury, reliability and style. 3. A brand distinguishes a company from its competitors. 4. We need to build our brand awareness so that our customers will recognize our brand and connect it to our products. 5. A logo is a symbol used to represent a brand. 6. Saved time and added convenience are examples of a product’s intangible benefits. 7. Safety is the brand essence of Volvo. 8. A company’s corporate identity is its visual presentation to the public. VV 18 & 19 Review A 1. c; 2. e; 3. a; 4. h; 5. b; 6. g; 7. f; 8. d B 1. c; 2. b; 3. b; 4. a; 5. c; 6. b; 7. a; 8. c
Online Practice Click the “Launch” button to open the FLASH version:
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