BU470- Final Exam Guide - Comprehensive Notes for the exam ( 48 pages long!)
Document Summary
Idea that you"re a (cid:271)etter, (cid:272)ooler perso(cid:374) (cid:271)y dri(cid:374)king bud light. What is a brand: something that conveys a message. Identifies the company and the product/service it sells/provides. In the 13th century, to distinguish makers, guilds mark their goods & + signs to storefronts: first ad in a newspaper in england is 1625 (1704 in america) Industrial revolution around 160-1840 => mass manufacturing: us civil war (1861-1865) => rise of packaged goods, wealth post wwii => economic boom & modern advertising. Brands: everything is branded, even the things we gather from nature like water (aquafina) and bananas (chiquita) Logistics: simplifies business management, offers legal protection for unique features, e. g. Apple store design: creates barriers of entry for competitors, pro(cid:448)ides fou(cid:374)datio(cid:374) of (cid:862)spe(cid:272)ial(cid:374)ess(cid:863, provides competitive advantage, loyalty, socialization, etc. The challenge of managing brands: a brand is a physical & perceptual entity.
