MKT 100 Lecture 9: Week 9

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Gennadi Gevorgyan

Document Summary

What is a brand: the value - in dollars, of a promise - commitment to everyone it deals with, consistently kept - used to set priorities and make decisions. What makes a brand: brand name, urls, logos and symbols, characters, slogans. Value of branding for the customer and the marketer: facilitate purchasing, establish loyalty, protect from competition, reduce marketing costs, are assets. Store or private label: brand name strategies. Branding strategy: brand awareness and recognition, brand characteristics, brand personality, brand values, brand relationships. The law of expansion: power inversely proportional to brand"s scope, expansion = diminish power, expansion = weaken image. The law of contraction: strength = narrow focus. The law of publicity: brand health = publicity, not advertising, power = what others say. The law of advertising: brand health = constant advertising, advertising reduces competition, leadership = equality. The law of the word: a brand should strive to win a word in the mind of the consumer.