COMMERCE 2MA3 Chapter Notes -Dreft, Barcode, Perforin
17 Dec 2014
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Brand recognition: consumer awareness and identification of a brand: main objective for new products; promote items to make them familiar with the public i. e. greek yogurt iogo again, brand preference: reliance on previous experiences with a product to choose that product, choose one over a competitor"s product (i. e. microwave dinners; swanson"s, lean, brand insistence: buyers refuse alternatives, and only use the desired brand"s products. Types of brands: generic products products characterized by plain labels, no advertising, and the absence of brand names, some firms make no effort toward branding, selling generic products that are characterized by plain labels, little or no advertising, and no brand names, often offer a cost advantage, generic products are often seen in food and household staples (i. e. no name products, manufacturer"s brand brand name owned by a manufacturer or other producer, usually place brands of established companies (i. e. coca cola, campbell) benefits: lower advertising and promotion costs.
