COMMERCE 2MA3 Lecture Notes - Lecture 10: Brand Licensing, Brand Equity, Trade Dress

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Bharat Vaishnav

Document Summary

Brand: name, symbol, icon, design, or a combination of these that identifies the maker or marketer of a product. Trademark: brand for which the owner claims exclusive legal protection. Trademarks can be names, symbols, characters, even shapes. Trade dress refers to the visual cues used in branding to create an overall look. A brand name is the words or letters forming a name that identifies and distinguishes the firm"s offerings from those of its competitors. A brand mark is a symbol or pictorial design that distinguishes a product. Brand equity refers to the added value that a certain brand name gives to a product in the marketplace. Brand equity is built on four dimensions of brand personality: differentiation, relevance, esteem, and knowledge. Brand personality: sum total of all the attributes of a brand, and the emotions it inspires in the minds of consumers. Marketers measure brand loyalty in three stages: recognition, preference, and insistence.