MKT 510 Study Guide - Final Guide: Mantra, Three Steps, Target Market
Document Summary
Brand: name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Brand elements: different components of a brand that identify and differentiate it. Brands versus products: product: anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want, we can define five levels of meaning for a product: Augmented product level: additional product attributes, benefits, or related services that distinguish the product from competitors. For consumers, and for manufactures: refer page 7. Experience goods: like tires, cannot be easily evaluated through inspection. Search goods: like groceries, consumers can evaluate product attributes by visual inspection actual product trial is necessary. Credence goods: like insurance coverage, consumers may rarely learn product attributes. Brands are an important signal of quality and other characteristics.
