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Chapter 9

COMM 131 Chapter Notes - Chapter 9: Private Label, Brand Equity, Campbell Soup Company


Department
Commerce
Course Code
COMM 131
Professor
Ethan Pancer
Chapter
9

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Chapter 9: Brand Strategy and Development
What is a Brand?
A name, term, sign, symbol, or design (or combo) that identifies the maker/seller of a p/s
o Important part of a product as branding it can add value to it
A brand may identify one item, a family of items, or all the items of a seller
If used for a firm as a whole, the preferred name is trade name
Brands are powerful, hold status, have value & a personality but no more than an idea
Brand names help buyers to identify products that might benefit them and it also tell
consumer about the product quality and consistency
Brand Meaning
Consumers trust trademarks because they reassure them that the product consumers were
getting had the attributes they wanted and expected from that maker
Trademarks and logos often represent brands, but brands mean much more than just that
Brand Relationships
Brands are a key element in the company’s relationship with customers
Brands represent consumers’ perceptions and feelings about a product & its performance
Lovemarks: A brand that inspires the kind of loyalty we exhibit toward those we love
o Marketers want their brand to be something consumers love, not just like
o To this, marketers must try to develop relationships with customers, strive to be
loved by consumers, tell a memorable and compelling story
Brand Advocacy
Brand Advocates are customers, employees, and others who willingly and voluntarily
promote their favourite brands
Advocacy begins with Trust: Word of mouth always influences perceptions of brands
build trust with potential advocates by nurturing their recommendations and opinions
Advocacy starts at home: Brands must start by creating advocates in the world around
them if you gain support from them, their enthusiasm will spill into their actions
Make customers and employees part of the story: Transforming customers and employees
into advocates put them at the heart of the brand
Deliver an experience that gets them talking: Creating advocates requires persistence and
effort loyalty is not enough as loyalists can be quiet and passive
Outperform where they care most: Outperform brand participants when they most need it
this is one of the most effective ways to create brand advocates
People as Brands
Marketing can turn a person’s name into a brand
Athletes, for example, are brands in and of themselves and are able to exert more control
over how, when, and where their image is marketed
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