COMMUN 105 Study Guide - Midterm Guide: American Marketing Association, Transmedia Storytelling, Duracell
Document Summary
Marketing is the delivery of value to some costumer group. Products and brands are often the embodiment of that value proposition. Brands, fulfil the very important function of distinguishing the offering of on company from those of others in a competitive environment. A product is anything we can offer to a market for attention, acquisition, use or consumption that might satisfy a need or want, it might be a physical good or a service. For services, branding is more important because it is less tangible than products and more likely to vary in quality, depending on the particular person or people providing them. Thus, branding for s service is important to firms as a way to address intangibility and variability problems. For retailers and distributing channels, brands provide a number of important functions. Brands can generate consumer interest, patronage, and loyalty in a store, as consumers learn to expect certain brands and products.
