MCS 4370 Lecture Notes - Lecture 7: Walmart

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 4370
• Professor: Tanya Mark

Document Summary

The value added to the product beyond its attributes. Monetary value how we go about quantifying the brand. A set of asset (liabilities) linked to a brand"s name or symbol that adds to (subtracts from) the value provided by a product. Other proprietary brand assets partnerships, patents, trademarks, strategies some things are not measurable: competitive advantage because their consumers are loyal, reduced marketing costs, trade leverage tide has advantage with wal-mart, attract new customers. Reassurance: time to respond to competitive threats. Loyal customers will wait: anchor to which other associations can be attached, familiarity liking, signal of substance/commitment, brand to be considered. Perceived quality: reasons-to-buy, differentiate/position, price, channel member interest, extensions, help process/retrieve information, differentiate/position, reasons-to-buy. Value: what"s in it for me, social, job support. Marketing society recommendations: target 1st year students conduct research from 3rd and 4th years to understand feedback testimonials. Build community use social media to promote social.