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Digital Branding & Retailing Notes.docx - Digital Branding...

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Digital Branding and Retailing Notes:Week 1:Introduction to Branding:What is a brand?A brand is a “name, term, sign, symbol, or design, or a combination of these elements,intended to identify the goods and services of one seller or group of sellers and todifferentiate them from those of competition.”Brand Elements:The key to creating a brand:Able to choose a name, logo, symbol, package design, or other characteristic that canclearly identify a product/s.Finding a way in which your product is distinguished from others products in thesame market.Components that identify and differentiate a brand a called brand element.Products and Five Levels of Meaning for a Product:Core benefit level:the functional need or want that customers satisfy by consuming theproduct.Generic product level:the basic form of the product, containing only the necessaryattributes or characteristics needed to perform its function.Expected product level:the set of attributes or characteristics that consumers expect andagree to when they purchase a product.Augmented product level:additional product attributes, benefits or related services thatdistinguish products from competitors.Potential product level:all of the augmentations and transformations that a product mightundergo in the future.Brands Verse Products:A brand is different from a product, which is “anything that can be offered to a market forattention, acquisition, use, or consumption that might satisfy a need or want.” These can bein the forms of a physical good such as cereal, a football or a vehicle.A brand is more than a product as it can have multiple dimensions that differentiate from itfrom other products.Rationable & Tangible:Related to product performance of the brand.
Symbolic, Emotional and Intangible:Related to what the brand represents.Differences Between Brands and Products:Brands are primarily intangible meaning they are not physical items. However, products aretangible, this means that they are physically interactable.Moreover, brands and products may be differentiated as they be more symbolic oremotional than each other. This relates to what the brand represents.By creating rational and tangible and/or symbolic, emotional, and intangible perceiveddifferences among products through branding, marketers create valuable, intangible assets.Why Do Brands Matter?Customers perceive differences among brands, which helps them make choices.Can Anything be Branded?In order to brand a product, it is necessary to teach consumers “who” the product is:Giving it a name and using brand elements in order to identify exactly what thebrand is.Identifying what the product’s purpose is and why consumers should give attentionand care about it.

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Brand, Brand Associations

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