MCS 3620 Chapter 3: Chapter 3

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3620
• Professor: Bharat Sud

Document Summary

Brand name: that part of a brand that can be spoken: example: nike, gatorade, tide, google. Brand mark or logo: a symbol that plays a key role in branding and creating an image. Trademark: a brand mark or other brand element that is granted legal protection so that only the owner can use it: tm designates trademark claims and r shows claimed and registered trademarks. Unique selling point (usp): the primary benefit of a product or service that distinguishes it. Choosing between alternatives, brands play a role in the decision-making process. Brand loyalty: the degree of attachment to a particular brand expressed by a consumer. There are three stages of brand loyalty: brand recognition, brand preference, and brand insistence. Brand recognition: customer awareness of the brand name and package. Brand insistence: a situation where the consumer searches the market for the specific brand: no alternatives are acceptable, consumers buy one brand only.