MGMC11H3 Lecture Notes - Lecture 1: Accenture, Normative Social Influence, Brand Management
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Bra(cid:374)d is a (cid:862)(cid:374)a(cid:373)e, ter(cid:373), sig(cid:374), s(cid:455)(cid:373)(cid:271)ol, or desig(cid:374) or a (cid:272)o(cid:373)(cid:271)i(cid:374)atio(cid:374) of the(cid:373), i(cid:374)te(cid:374)ded to ide(cid:374)tif(cid:455) the goods a(cid:374)d services of one seller or group of sellers and to differentiate them from those of (cid:272)o(cid:373)petitio(cid:374)(cid:863) Many managers refer to brand as more than that something that has actually created awareness, reputation, prominence in the marketplace. Ama definition (cid:271)ra(cid:374)d a(cid:374)d i(cid:374)dustr(cid:455)"s (cid:272)o(cid:374)(cid:272)ept brand. Different components that identifies a product and differentiates are brand elements. Example: brand names samsung has labelled all products samsung whereas p&g has different names for different products like tide, pampers. Brand names are very dynamic: based on names, places, animal/birds. Inherent product meaning i. e. mop & glo floor cleaner. Other brand elements can be based on different things as well like logos and symbols. Product: anything we can offer to a market for attention, acquisition, use or consumption that might satisfy a need or want. Can be a physical good or service.
