ADM 2320 Chapter Notes - Chapter 9: Escalator, Zipper
Document Summary
Role of brands: identify the maker, simplify product handling, organize accounting, offer legal protection, signify quality, create barriers to entry, and serve as a competitive advantage, secure price premium. Brand identification: brands, brand name (part of the brand that can be vocalized), trade mark (brand name with legal protection), generic name (brand name that is so famous that people use the generic brand name description to describe the product, google, kleenex, zipper, escalator, etc. individual brand (proctor and gamble name a large number of different brands, different brands of detergents, and each product has an individual brand name, as opposed to johnson and johnson, where there is one name and a whole range of products, disadvantages and advantages), private brand (brand owned by the retailers and also sometimes by wholesalers and manufacturers, sears has kenmore appliances), national brand (manufacturers brand, brand name owned by the manufacturer), packaging (physical protection, promotes product with information, must be able to be reused)
