MKTG311 Lecture Notes - Lecture 1: Breast Cancer, Fast Fashion, Brand Management
Document Summary
"differentiation is the key to winning with new offerings and old. There needs to be a point of difference that provides a reason to buy and to be loyal. The ultimate route to differentiation is to innovate" Types of branded differentiators: branded feature, e. g. Amazon having a feature of a one click to purchase immediately: branded ingredient, e. g. intel inside - need to pay extra to go faster, branded technology, e. g. Prius technology allows for adjusting: branded service, e. g. go beyond what you normally do for the customer such as google adword, e. g. Concept day can invite other universities to join: branded program, e. g. brand for a social impact such avon walk for breast cancer. Simplifies decisions: knows brand, high quality and trust, decrease risk of purchase, functional, financial, social and time, reduce search costs and time looking, allows customers to communicate to others and themselves.
