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C1 Brand and brand management (brand (definition (a name, term, sign,…
C1 Brand and brand management
brand
definition
a name, term, sign, symbol, or design, or combination of them, intended to indetify the goods and services of one seller or group of sellers and to differetiate them from those of the competition
A brand is the network of mental structure/associations that exist in the minds of all potential customers. This network influence buying behavior.
why do they matter?
to consumers
identification of source behind product
risk reducer
search cost reducer
signal of quality
promise
to manufacturers
competitive advantage
means of legally protecting unique features
means of creating associations
product
definition
anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want
five levels
core benefit level
the fundemental need or want
generic product level
absolute minimum performing basic function
expected product level
the set of attribut that buyers expect
augmented product level
additional attributs beyond what buyers expects, differentiations
potential product level
all the possible attributes
For what can branding be an important strategy?
types of branding
business-to-business
high-tech branding
services
retailers and distribution
online
people and organizations
branding challenges and oppertunities
Brand equity concept