MKT 100 Lecture Notes - Lecture 8: Minivan, Knitting, Corporate Social Responsibility

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Brand is a single concept that you own in the mind of prospect. Brand is the value in dollars of a promise that is a commitment to everyone it deals with that is consistently kept used to set priorities and make decisions. Consists of many elements including a name, logos and symbols: can have characters, url, slogans, jingles/sounds. Shows quality and dependability: lower cost protect brand from competitors will have to spend more on marketing their products in order to make a profit. Brand awareness: often because of size, national network and consistent role they play for. Perceived value: brand market themselves are organic, create health and wellness for customers, purchasing an organic product means you"re taking care of yourself but in addition for need of food. Brand associations: assist in the perception of value, celebrities that associate themselves with jenny craig, a weight loss brand, demonstrates the value of that brand.