MGMC11H3 Chapter Notes - Chapter 1: Sports Marketing, Brand Equity, Private Label
Document Summary
Some brand name strategies are using them for all products, individual brand names like p&g, and some retailers create their own brand like sam"s club. Product is anything we can offer to market for attention, acquisition, use or consumption that might satisfy a need or want. Harvard"s ted levitt argued that new competition not between stuff produced but what they add in form of packaging, services, advertising, and other things people value. Brand is therefore more than a product, because it can have dimensions that differentiate it in some way from other products designed to satisfy the same need. Distinguish brands by: competitive advantages with product performance, through non-product related means like coke who create a fun image. Brands carry a number of different types of associations. Consumers can evaluate product by sturdiness, size, colour, design: experience goods cannot be assessed so easily by inspection. Need actual product trial and experience to learn quality, safety etc. ex.
