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ADM 2320 Review B.Bache.docx

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ADM 2320 Exam Chapter 9Dove ExampleBrand extension from soap bar to multiple personal care areasBrand image always associated with moisturemildness Brand promise mildness and moisturization Complexity of ProductsWhat Makes a BrandValue of Branding for the Customer and the MarketerBranding OverviewBrand equity is an important concept that can both help and hinder For example customers dislike some brands because of the firms actions or their negative perceptions Nike has been the target of many labour activists which causes some consumers to refuse to purchase or wear Nike products Mattels brand equity was hurt when it recalled over 19 million toys because of lethal magnets and lead paint Brand Loyalty1Consumers are often less sensitive to price2Marketing costs are much lower3Firm insulated from the competitionBrand OwnershipBrand OwnershipBrand Name StrategiesBranding exists on multiple levels and firms choose strategically how to brand their products The names they assign their products reflect this strategic choice Marriott gives its individual brands unique names all tied together by the phrase by Marriott like Fairfield Inns by Marriott Choosing a Brand Name Desirable QualitiesSuggest benefits and qualitiesEasy to pronounce recognizerememberCapable of registrationlegal protectionTranslated easilyBrand ExtensionBenefits of brand extensionWell established nameBrand known for high qualityLower marketing costsSynergy among productsBoost sales of the core brandBrand Dilution
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