Latent Demand

Consumer desire to buy, complicated by a lack of real purchasing power. The consumer lacks the means (funds) and/or ability (opportunity) to do so.

Lateral Thinking

Lateral thinking is a phrase coined by Edward de Bono in contrast to conventional or vertical thinking. Conventional thinking moves in a predictable, direct fashion. Lateral thinking attacks a problem from the side. de Bono defines the four main aspects of lateral thinking as follows:

• The recognition of dominant polarizing ideas
• The search for different ways of looking at things
• A relaxation of the rigid control of vertical thinking
• The use of chance

Launch

The initial marketing of a new brand, product or service to a particular market. The way in which the launch is carried out greatly affects the product’s profitability throughout its lifecycle.

Lexicographer

One who generates (comes up with) names.

Line Extension

The horizontal expansion of a brand through the introduction of new offerings by function, such as additional flavors, sizes, colors… (e.g., Coca Cola's extension to Diet Coke, Caffeine Free Coke, Caffeine Free Diet Coke)

Localization

A reinterpretation of the brand's verbal and visual components to ensure that cultural and/or language barriers will not confuse the brand message.

Location Branding

The practice of branding geographic locations (countries, regions, cities and towns) as a key driver for tourism, inward investment and/or export revenue.

Lock-up

The formalized position/relationship of the brand's logo (symbol) and its wordmark (logotype).

Logo

Any unique symbol or design serving as an identifying mark (officially representing a brand).

See: Logo, Logotype

Logotype

Brand name, publication title, or the like, presented in a special lettering style (custom typeface) and used in the manner of a trademark.

See: Logo, Logotype

Look For Advertising

The overt use of statements such as "Look for the "(brand signal)." The use of such statements help consumers in navigating the marketplace and can aid in the trademark process by proving a given brand signal as a source identifier. (e.g.: Duracell's "Look for the CopperTop" slogan)