AFM131 Chapter Notes - Chapter 15: Malcolm Gladwell, Brand Loyalty, Brand Equity

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Total product offer: everything that consumers evaluate when deciding to buy. Value: getting good quality at a fair price. Product line: group of products that are physically similar or intended for a similar market (i. e. tide and downy) Product mix: combination of product lines offered by an organization (i. e. hair care, household cleaners) Product differentiation: creating real or per(cid:272)ei(cid:448)ed differe(cid:374)(cid:272)es i(cid:374) the produ(cid:272)t (cid:894)i. e. (cid:862)(cid:449)ater fro(cid:373) the gla(cid:272)iers(cid:863)(cid:895) The functions of packaging (1) attract attention (2) protection (3) user-friendly (4) describe contents. Mal(cid:272)o(cid:373) glad(cid:449)ell says that aski(cid:374)g (cid:272)o(cid:374)su(cid:373)ers (cid:449)hat they (cid:449)a(cid:374)t does(cid:374)"t al(cid:449)ays (cid:449)ork (i. e. no one express their desire for chunky spaghetti sauce) (5) explain benefits (6) detail warranties, warnings (7) indication of price/value. **pkgi(cid:374)g helps deter(cid:373)i(cid:374)e a g/s" (cid:448)isi(cid:271)ility, attra(cid:272)ti(cid:448)e(cid:374)ess, a(cid:374)d useful(cid:374)ess** Brand equity: combination of factors (i. e. perceived quality, emotions) that people associate with a given brand name. Brand: name, symbol, or design that identifies the g/s sold by a seller.