MGMC11H3 Study Guide - Comprehensive Final Guide: Brand Equity, Brand Awareness, Brand Management
Document Summary
Brand: a 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: the different components of a brand that identify and differentiate it. Product: anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want. Five levels of meaning for a product a. i. 1. The fundamental need or want that consumers satisfy by consuming the product or service a. i. 2. A basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features a. i. 3. A set of attributes or characteristics that buyers normally expect and agree to when they purchase a product a. i. 4. Includes additional product attributes, benefits, or related services that distinguish the product from competitors a. i. 5.
