MKT 510 Lecture Notes - Lecture 1: Brand Management, Level Set, Sports Marketing
22 Oct 2015
School
Department
Course
Professor
Document Summary
Coca cola has 72% premium over pc brand cola. Brands vs. products: product: anything we can offer to a market for attention, acquisition, use and consumption that might satisfy a need or want o, physical good, service, retail outlet, a person, organization, place, idea. Means of identification to simplify handling or tracing. Promise, bond or pact with maker of a product. Increase cost of product introduction and support: short term performance orientation. Challenges in branding: savvy customers, more complex brand families and portfolios, maturing markets, more sophisticated and increasing competition, difficultly in differentiating, decreasing brand loyalty in many categories, growth of private labels. Increasing trade power: fragmenting media coverage, eroding traditional media effectiveness, emerging new communication option. Services: pervasiveness of service branding and its sophistication have accelerated in the past decade. Less tangible than products and more likely to vary in quality, depending on the particular person or people providing them.
