ADMS 2200 Lecture Notes - Lecture 7: Brand Licensing, Radio-Frequency Identification, Canadian Food Inspection Agency

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Alexander Rusetski

Document Summary

Brand plays a huge role in our lives we try brands when friends recommend them, when we associate certain images with them, or because we remember their advertisments. We become loyal to certain brands for many reasons, including quality, price, and habit. Brand is a name, term, sign, symbol, design, or some combination that identifies the products of one firm while differentiating these products from competitors" offerings. Marketers recognize the powerful influence of brands on consumer behaviour, and they work to create and protect strong identities for products and product lines. Branding is the process of creating that identity. Satisfied buyers respond to branding by making repeat purchases of the same product because they identify the item with the name of its producer. Brands achieve widely varying consumer familiarity and acceptance, often weighed by the concept of brand loyalty. Marketers measure brand loyalty in three stages: recognition, preference, and insistence.