MGMC11H3 Lecture Notes - Lecture 1: Mega Brands, Brand Equity, Level Set

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16 Sep 2018
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Mgmc11: lecture 1 intro to brand & product management. Brand a name, term, sign, symbol, design/a combination of these, intended to identify & differentiate o(cid:374)e"s good/ser(cid:448)ices. So(cid:373)ethi(cid:374)g that creates a(cid:449)are(cid:374)ess, reputatio(cid:374), e(cid:448)e(cid:374) pro(cid:373)i(cid:374)e(cid:374)ce i(cid:374) the marketplace. Many practicing managers refer to a brand as more than that; as something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace. Identification of the source of the product: assignment of responsibility to product maker, risk reducer, search cost reducer, promise, bond, or pact w/product maker, symbolic device, signal of quality. How brands help companies: to firms, brands rep. enormously valuable pieces of legal property, capable of influencing consumer behaviour being bough + sold, providing the security of sustained future revenues, e. g. Strategic brand mangement involves design + implementation of marketing programs + activities to build, measure, + manage brand equity: the process:

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