MKTG 471 Study Guide - Quiz Guide: Brand, Deodorant, Deflation
19 May 2018
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MKTG 471 Review quiz 2
A name, term, design, symbol or other feature that identifies one seller's product
as distinct from those of other sellers
Brand Name
The part of a brand that can be spoken, including letters, words, and numbers
Brand Mark
The part of the brand that is not made up of words, such as a symbol or design
Trademark
A legal designation of exclusive use of the brand
Trade Name
The full legal name of an organization
Value of Branding - Buyer
- Brands identify specific products and without them product selection would be
random
- Brands can form self-expression
- Brands reduce a buyer's perceived risks
- There may be a psychological reward from owning a brand that symbolizes
status
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Document Summary
A name, term, design, symbol or other feature that identifies one seller"s product as distinct from those of other sellers. The part of a brand that can be spoken, including letters, words, and numbers. The part of the brand that is not made up of words, such as a symbol or design. A legal designation of exclusive use of the brand. Brands identify specific products and without them product selection would be random. There may be a psychological reward from owning a brand that symbolizes status. Brands identify products, making repeat purchases easier. Branding helps when introducing new products because buyers are familiar with the name. Fosters brand loyalty and a certain level of market share and price stability. When marketers increase their brand"s value, they also raise the total value of the organization. Three degrees of brand loyalty: brand recognition, brand preference, brand insistence.
