MKT 100 Lecture Notes - Lecture 10: Rolex, Toothpaste, Final Good

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MKT 100 Full Course Notes
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MKT 100 Full Course Notes
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Inexpensive items: takes little effort to shop for, unwilling to shop extensively for it, require wide distribution. Rolex, ferrari (10-2d) unsought goods: unknown to the consumer, know product but not actively sought after. Insurance, resp, burial plots : require personal selling and aggressive advertising, new products - until consumer becomes aware of them (10-3) product items, lines, mixes. Rarely does a company sell a single product. It is the sum of the following: actions, thoughts, experiences, feelings, consumers develop the meaning of a brand through experiences and interaction with brands in various situations (10-4a) benefits of branding. Product identification: distinguish a product from the competition, build brand equity (value of the company and brand name, global brand is one available in different countries. Identify brands the consumer wants to buy again: brand loyalty. New-product sales: well-known brands, highly recognized brand name, respected company makes new product introductions easier (10-4b) branding strategies, generic products vs.

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