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Marketing week 10 notes.docx

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Ryerson University
MKT 100
Tina West

Marketing week 10 – Brand Management and New Product Development Brand Management Law of Contraction Law of Publicity - Birth of a brand is achieved by publicity not Product - Narrow focus Place - Stock in-depth branding Price - Buy and sell cheap - What others say is more powerful than what you say Promotion - Dominate the category - It’s better to be first than better, because being first generates publicity Law of Advertising Law of credentials - Brand needs advertising to stay healthy - Claim to authenticity (ex: Coke – “the real thing”) - Advertising dollars keep you from losing shares to competitors Law of category - Advertise brand leadership not quality - Brand should promote the category not brand itself - For consumers leadership = quality - If no category, should make one and lead in it Law of Mortality Law of word - No brand can live forever; euthanasia is the best - Brand should strive to own a word in mind of consumer solution Ex: Kleenex, Jello, Bandaid, Scotch Tape etc… Law of shape Law of extensions - Ideal shape for a logo is horizontal; it’s designed - Easiest way to destroy a brand is by putting its name on everything to fit both eyes Law of fellowship Law of colour - T
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