MKTG-UB 1 Lecture Notes - Lecture 6: Residence Inn By Marriott, Svedka, Absolut Vodka
11 May 2016
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Document Summary
Brand: name/sign/symbol used to identify and differentiate. Brand value should be measured from two different perspectives: Brand equity (for company): communication value, monetary, strategic. Brand meaning (for customer): psychological, functional, monetary. Brand equity = the financial value of a brand (brands as intangible assets). Brands lead to price and volume premium. (diagram with volume on x axis and price on y axis) Brands are strategic tools to manage large portfolios of products. House of brands (i. e. p&g) on individual branding side of spectrum. Branded house (i. e. virgin) on the umbrella branding side. Graph: benefits on x axis, price on y axis. Pros: higher margins, can lift current brand image. Cons: brand associations can be a liability. Pros: higher volumes, these extensions can benefit from current brand image. Graph: benefits on x and price on y. horizontal line. Different product category and a similar price. Extending a brand works best when fit is good.
