MKT-300 Lecture Notes - Lecture 16: Brand Equity
Document Summary
Business products anything you would sell to another business. Consumer products tailored to individuals personal wants. Types of consumer products: convenience products, easy, relatively inexpensive, shopping products, limited, usually more expensive, specialty products, extensive, will research extensively because we are very invested in the decision, expensive, unsought products, outside consideration set. Product items, lines, and mixes: product item. Individual: product lines, related, package uniformity, saves money, efficient sales and distributions, product mix, all together, ***exam width and depth. **exam width and depth: width (across) brand extension, e. g. Soups, sauces, entr es, beverages, biscuits: when you are expanding a brand, you want image consistency, depth (down) line extension, different flavors of each. Welsh 2: when we first start extending we want to make sure we have functional similarity, e. g. Product modifications: quality modifications, functional modifications, style modifications, planned modifications. Overtime firms make adjustments: when sales decline.
