MKBU 3225 Lecture Notes - Lecture 11: Umbrella Brand, Competitive Intelligence, New Product Development
Document Summary
Ideas generated internally and/or by consultants and/or marketing environment. Modifications of concept occurs (occurs throughout process, but begins @ this stage) Take look @ target market, secondary market, developing 4p"s, & coming up w/ strategy & tactics. Business analysis: project costs, sales & profits. Analyze & predict costs, revenue, & profit. Test market prototypes & modifying prototype: competitive intelligence. Market testing: consumer"s reaction to purchasing, using, & repurchasing of. Taking competitors" products & dissecting it products tested. Brand: name/term/symbol/design/combo of these that ids seller"s products & differentiates them from competitor"s products: even color can be brand, branding associated w/ image. Brand name: part of brand that can be spoken. Brand mark: part of brand that can be recognized. Trademark: legal term protecting seller"s exclusive right to brand name/mark. Trade name: legal name of organization: characteristics of good brand name. Generic products are low cost alternative to branding.