FASH430 Lecture Notes - Lecture 1: American Marketing Association, Saks Fifth Avenue, Brand Equity
20 Mar 2017
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3/1/2016 8:36:00 pm: children recognize brands as early as 18 months of age. What is a brand: name, symbol, company/organization, actual product or service, set of characteristics and expectations, promise of benefits, trademark, a campaign, positioning. These different components of a brand that identify and differentiate it are brand elements. Importance of brands to firms: identification to simplify handling or tracing, legally protecting unique features, signal of quality level, endowing products with unique associations, source of competitive advantage, source of financial returns. Can everything be branded: ultimately a brand is something that resides in the minds of consumers, the key to branding is that consumers perceiver difference among brands in a product category. Branding challenges and opportunities: savvy customers, brand proliferation (new brands and products, media fragmentation, increased competition, increased costs, greater accountability. Real clothes saks fifth avenue; arizona jeans jc. Penney; sonoma kohl"s; jaclyn smith kmart; halogen .
