MARK1012 Study Guide - Final Guide: Peters Ice Cream, Brand Awareness, Brand Loyalty

74 views4 pages
19 Jul 2018
Department
Course
Professor

Document Summary

Product and branding positions: products can be places, ideas, organisations, people or communities. Increase breadth firms often add new products to capture new or evolving markets and increase sales. Branding: provides a way for firm to differentiate its product offerings from those of its competitors. In some case, retailers manufacture their own products. In other cases they develop design and specifications for their retailer/store brands and then contract with manufacturers to produce those products. Naming brands and product lines: family brands, fi(cid:396)(cid:373) (cid:272)a(cid:374) use o(cid:449)(cid:374) (cid:272)o(cid:396)po(cid:396)atio(cid:374) (cid:374)a(cid:373)e to (cid:271)(cid:396)a(cid:374)d all its p(cid:396)odu(cid:272)t li(cid:374)es a(cid:374)d p(cid:396)odu(cid:272)ts e. g. kellogg(cid:859)s. Rice bubbles: when all products are sold under one family brand, individual brands benefit from overall brand awareness associated with family name. Individual brands: firm can use individual brand names for each of its products, e. g. while nestle makes good use of corporate branding strategy, it also allows other products such as peters ice cream to keep individual identities.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents