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17 Cards in this Set
- Front
- Back
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complexity of product |
-core customer value -actual product -associated service |
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types of product-consumer product |
-specialty products -shopping products -convenience product -unsought product |
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product mix |
-product line (breadth) -product categories(depth) -SKU |
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change product mix breadth |
-increase breadth-add new product line to capture new market -decrease breadth- delete entire product lines to address changing market conditions or meet internal strategic priorities |
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change product line depth |
-increase depth-add new products within a line to address changing condition -decrease depth- eliminate unprofitable items |
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change number of SKUS |
-addition or deletion of SKUs in exsiting caegories to stimulate sales or reac to consumer demand very common and ongoing activity |
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brand element |
-brand name -URL- such as Amazon -logos and symbols -characters -slogans -Jingles |
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value of branding for the customer and he marketer |
-brands facilitate purchasing -brands establish loyalty -brands protect from competition and price competition -brand reduce marketing cost -brands are assets -brands impact market value |
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brand equity |
-brand awareness -perceived value -brand associations -brand loyalty |
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advantage of brand loyalty |
-consumer less sensitive to price -lower marketing cost for loyalty customer -insulate firm from competition |
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brand ownership |
-manufacurer brands or national brands -private-label brands or store brands -generic |
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naming brands |
-corporate or family brand -corporate and product line brand -individual brands |
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choosing a name (desirable qualities) |
-brand name should be suggestive of benefits and qualities -the brand name should be easy to pronunce,remember, recognize -capable of registration and legal protection -translate easily acorss different language |
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benefit of brand extention |
-brand name is already well established, firm can spend less in developing consumer awarenessand band associations -good reputation of brand name will carry over its product -lower marketing cost -synergy among product -boost sales of core brand |
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some caveats that brand must be considered to in order to avoid brand dilution |
-evaluate the fit between the product class of the core beand and the extension -evaluate consumer perceptions of the attributes of the core brand and seek out extensions with similar attribute -refrain from extending the brand name to too many products -is the brand extension distanced enough from the core brand? |
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cobranding |
-cobranding enhances consumers' percepions of produc quality -cobranding can be a prelude to an acquisition strategy -risk if two brands are too different -can fail if brands's owner can not resolve financial disputes about revenue or loyalty sharing |
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brand licensing |
advantage: building brand equity and also generating additional revenue disadvantage: dilution of its brand equity through overexposure of the brand |
