MKT 510 Chapter Notes - Chapter 12: Brand Equity, Backtracking, Cream Liqueur
Document Summary
Chapter 12 introducting & naming new products & brand extensions. Market penetration original tide; product development tide to go; market development tide with bleach; diversification dry cleaning franchises. Brand-product matrix: a graphical representation of all the brands & products sold by the firm: brand of firms as rows; corresponding products as columns, of brands & branded house (broad & deep) When a firm introduces a new product, it has three choices for branding it: 1. It can develop a new brand, individually chosen for the new product: 2. It can apply, in some way, one of its existing brands: 3. It can use a combination of a new brand and an existing brand. Brand extensions: occurs when a firm uses an established brand name to introduce a new product. Sub brand: when a new brand is combined with an existing brand. Family brand: if a parent brand is already associated with multiple products through brand extensions.
