mkt lecture 10.docx

36 views2 pages
21 Mar 2012
Department
Course
Professor
MKT lecture 10
Brand Management
- The four Ps, the marketing mix.
- Product, place, promotion and price.
- Customer value and beneficial relationsships
- A brand is a singular idea or concept that you own inside the mind of a prospect
- The power of the brand is inversely proportional to its scope, because we are trying to include
more people and then the power of our brand diminishes as not all of them would favor the
brand as much as others
- In the long run expanding a brand may diminish its power and weaken its image
- Scope is how wide or how narrow we want to focus
The law of contraction
- A brand becomes stronger when we have a narrow focus
i) Narrow focus could be a focus on just one product and a thing we do extremely well
ii) Stock in depth ( could be how we guarantee the product will be in stock)
iii) Buy cheap/sell cheap ( lowest cost provider)
iv) Dominate the category ( leaders In shelve space, high mind share)
G
The law of publicity
- The birth of a brand is achieved with publicity, not advertising
- What others say is more powerful than what you say
- It is better to be first than to be better, because being first generate publicity
The law of advertising
- Once born, a brand needs advertising to stay health
- Advertising dollars keep you from losing share to competitors because it makes it difficult for
them to pay the price
Advertising leadershio
Law of the category
- A leading brand should promote the category, not the brand
- Create a new category and promote It with your brand as the leader
Law of the word
Unlock document

This preview shows half of the first page of the document.
Unlock all 2 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.