MARK301 Lecture Notes - Lecture 17: Brand Equity
17 Oct 2016
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Document Summary
Digital cameras: at the maturity stage, reached most of its development, many producers. Hard to identify stage product is in. Strategies are both a cause and result of the plc. Hard to forecast sales level, length of each stage, and shape of plc. Modify the market mix: new ads and promotions to reposition the product to breath new life into product. Product decisions: product attributes, branding, packaging and labeling, product support services. Product line: a group of products that are similar. Product depth: how many varieties in a line. Product length: how many different types of products. Branding: name, term, sign, symbol, design that identifies the product of a seller and differentiates it from competitors. Sellers: basis for products quality, provides legal protection, helps to segment markets. Brand advocacy: a person or customer who talks favorably about a brand or product, and helps product through positive word of mouth. Brand communities: communites formed around brands or other market offerings.
