Chapter 11 Notes- Marketing 3010
Chapter 11 Notes- Marketing 3010 86498 - MKT 3010 - 006
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86498 - MKT 3010 - 006
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This 3 page Class Notes was uploaded by Maggie Wehunt on Wednesday September 30, 2015. The Class Notes belongs to 86498 - MKT 3010 - 006 at Clemson University taught by Amanda Cooper Fine in Summer 2015. Since its upload, it has received 279 views. For similar materials see Principles of Marketing in Marketing at Clemson University.
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Date Created: 09/30/15
Chapter 11 Product Branding and Packaging Decisions What is a product Anything of value Through voluntary marketing exchange Exchange money goods experiences services ideas Taking one product and adding experiences and services to it 0 Harry Potter in a book then turning it into a movie theme park video game etc Levels of Products and Services 0 Core customer value 0 Actual product 0 Brand Augmented product 0 After you buy a product does it have free delivery and pick up guaranteed customer service warranty Product Mix and product line Product assortment Product lines Product line breadth 0 Number of product lines in a rm 0 Example oral care personal care home care pet nutrition Product line depth 0 Number of products within a product line 0 Example oral care has most depth because it offers more products than the others What is Branding Brand name spoken component for a product 0 Domain names com Logos and symbols visual component of a brand name 0 Logos Write down brand name Example Nike or Nike with the check 0 Symbols Logos without words Example check without Nike 0 Characters Slogans Jingles 0 Example quotyou39ve got mailquot Distinctive packages 0 New ketchup packets at chic l a o Triangle bathing suit box 0 Pringles package stands out on the chip aisle Branding Decisions 0 Choosing a name 0 What is the brand39s role 0 Are you planning a line of products 0 Longterm position in the market 0 Insulting or irritating to anyone Most companies want to be global so don39t want brand name to mean something else to another country The Value of Branding nancial standpoint Facilitate purchasing has effects on consumer behavior 0 Brand package and price create shortcuts 0 Human behavior automatically looks for shortcuts Establish loyalty 0 When a consumer buys a product and it works well for them over time they usually become loyal 0 Less 0 Protect from competition 0 When a consumer is loyal they become resistant to competition 0 Stick with your brand even when it has a higher cost 0 Reduce marketing costs 0 Once have loyal customers that buy your product regardless of competition then you39re not ghting for as many consumers Assets 0 Strengths on nancial sheets 0 Intellectual property becomes an intangible asset o Protects trademarks intellectual property Lanham Act Also gives protection from false advertising 0 Impact market value 0 How much the company is worth Brand Equity Assets or liabilities 0 Add or subtract the value of that company with how much brand is wo h Brand Awareness 0 How many people in a market are aware of brand have opinion and take a stand for a brand building awareness quickly usually spend a lot of money on one advertising stance usually a commercial or a super bowl commercial and rarely ever works but want to build awareness quickly to get fast equity Perceived value bene ts costs 0 Top brands not always the cheapest option so must be something else there o Is the quality consumers like about a product 0 Brand associations 0 Character or personalities Ronald McDonald 0 Brand loyalty 0 Not conscious of price or competition consumers who swear by the product 0 Net promoter score 0 When a consumer likes a product and tells other people about it 0 Degree in which someone would recommend a brand to someone else Branding Strategies 0 Brand ownership 0 Manufacturer brands national brands o Privatelabelstore brands Premium brands Generic brands Copycat brands Exclusive cobrands Naming brands and product lines 0 Corporate or family brands Proctor and Gamble has Gain Tide Cheer Dawn Febreze Puffs Old Spice etc 0 Want to sell you choice 0 Brand Extensions and Line Extensions 0 Advantages Cost effective lmage transfer positive feelings and trying to transfer them to a new product Complementary products 0 Brand dilution Trying to branch out for new product and have a negative impact on equity
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