MKT 2210 Lecture Notes - Lecture 8: Space Tourism, Private Label
18 Dec 2018
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Document Summary
Brand trust has two key dimensions: functional trust and emotional trust. Functional trust comes from quality, reliability and consistency. Emotional trust comes from workplace practices, environmental policies, community responsibility, and consumer connection to the brand. Shoppers prefer to buy new products from brands they trust. 74 percent of canadians try to purchase their most trusted brand names when they are on sale versus purchasing private label or generic o erings. Product life cycle: describes the stages a new product goes through in the marketplace. Primary demand: desire for the product class. Selective demand: demand for a speci c brand. The emphasis of adverting shifts to simulating selective demand. Maturity stage: a slowing of total industry sales or product class revenue. Characterized by a slowing of total industry sales or product class revenue. Sales decreasing rate in the maturity stage as fewer new buyers enter the market.
