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MGMC11H3 (22)
Chapter 1-6

Covers all chapters up to midterm (Chapter 1-6)

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Department
Management (MGM)
Course
MGMC11H3
Professor
Bill Mc Conkey
Semester
Winter

Description
Chapter 1 Brand equity level of awareness and level of attitude target consumers have toward the brand Its also the difference arise from value added as a result of past marketing activity Used to assess a brands valueValue of the brand can be exploited in many ways to benefit firm ie Greater profitBrand management develop understanding of what the brand presents and how it should positioned compared to competitors Brand management involvesPlan and implement brand marketing programs depend on o Choices of brand elements and how they are combined o Marketing activities and how the brand is integrated ther associations leveraged by the brand oMeasure and interpret performance o Assess brand health o Uncover sources of equity and find ways to improve that equityGrow and sustain brand equity o Define brand strategy o Using brandproduct matrix and brand hierarchy o Manage brand equity over time o Recognize change in external environments and internal goals o Manage brand equity over different locations and segments5 different levels of meaning of product 1 Core benefit level satisfy fundamental needs and wants 2 Generic product level with basic functions 3 Expected product level with features that are normally expected of a product in that category 4 Augmented product level additional values that differentiate the brand from others 5 Potential product level features that can be implemented in the futureProduct management life cycle function within a company dealing with the planningforecastingmarketing of a product or products at all stages of PLCProduct management supply focused and product marketing demand focused are different but complementary for maximizing revenueRole of product management can span many activities and can be a function separate on its ownMain focus drive new product development1 driver of success and profitability superior and differentiated new productProfit and loss responsibility to evaluate product management performanceServes as an interdisciplinary role bringing gaps within company between teams of different expertise between engineer and businessExplain capabilities and probabilities of product to Marketing and Sales Chapter 2 Consumer based brand equity model the differential effect that brand knowledge has on consumer response to the marketing of that brandBrand awareness strength of brand trace in memoryBrand image or attitude consumer perception of a brand
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