ADM 2320 Lecture Notes - Lecture 13: First Choice Haircutters, Abercrombie & Fitch, Brand Equity
9 Dec 2016
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Chapter 9: product, branding, & packaging decisions (part 2) brian to | nov. 2016. Brands add value to merchandise & services beyond physical & functional characteristics or pure act of performing service. Picture examines some ways in which brands add value for both customers & the firms . Ex. ebay brand facilitates instant recognition, consumers are avidly loyal, which reduces competition from other online auctions & reduces expensive marketing ads. Brand is a valuable asset that they protect thru copyrights, & directly affects their profits. To understand branding, we look at 3 areas: brand equity, brand ownership & brand names . Value of a brand translates into brand equity or set of assets & liabilities linked to a brand that add to or subtract from value provided by product or service. Brand equity is an important concept that can both help & hinder: customers dislike some brands b/c of fi(cid:396)(cid:373)(cid:859)s actions or their negative perceptions, ex.
