MARK20100 Chapter Notes - Chapter 8: Starbucks, Up & Up, Joint Venture
Document Summary
Brand= a name, term, sign, symbol, or design, or combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate from those of competitors. Branding strategy: integral part of the product development process, successful new products result from a well-conceived branding strategy. Customer brand roles: brands have 3 primary roles: Customers construct expectations about quality, service, features based on the brand. Brands educate the customer about the product best at meeting their needs. Over time, people make judgments about which brands are. Customer"s (cid:498)brand education(cid:499) helps them make the purchase decision with less effort. Reassures the customer in the purchase decision. Competitor brand roles to compete deliver on value proposition: market-leading brands provide competitors with a benchmark against which. Brand must be protected (from counterfeit products/illegal activities conducted. Brand equity= a set of assets (cid:523)and liabilities(cid:524) linked to a brand"s name and symbol or that firm"s customers.
