MCS*3620 - Chapter three.docx - Chapter three MCS*3620 BRANDING STRATEGY Marketing and marketing communication is a loop that begins and ends with brand

MCS*3620 - Chapter three.docx - Chapter three MCS*3620...

This preview shows page 1 - 2 out of 3 pages.

Chapter three MCS*3620 B RANDING S TRATEGY - Marketing and marketing communication is a loop that begins and ends with brand. D EFINING THE B RAND - Brand (trademark) : name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. o Brand name : is the part of the brand that can be spoken and is consistent. (people, places, inherent product meaning, product attributes, simply/attractive) o Brand logo : a symbol that plays a key role in branding and creating an image. o Trademark : is the part of a brand that is granted legal protection so that only the owner can use it. o Through marketing communications, the “personality” of a brand evolves, and the combination of brand attributes (tangibles) and brand personality (intangibles) is what influences brand choices by consumers. B RAND I MAGE AND R EPUTATION - Brands express a set of values that customers can identify with. - A Good reputation is the result of a consistent approach to marketing and marketing communications over an extended period. B RAND L OYALTY - Brand loyalty : the degree of consumer attachment to a particular brand, with three stages: 1. Brand recognition : customer awareness of the brand name, benefit and package 2. Brand preference : the situation where a brand is perceived as an acceptable alternative by a customer and will be purchased if it is available. 3. Brand insistence : consumer buys one brand only. If brand is not available, the purchase is postponed. Representing the bond. They often become advocates for the brand, liking it so much that they will recommend it to others. o Loyalty programs help build these relationships. - Brand equity : the value (monetary or otherwise) of a brand to its owners; influenced by brand name awareness, degree of customer loyalty, perceived quality, and the brand’s association with a certain attribute.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 3 pages?

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes