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Study_Guide_for_Lecture_11_-_Branding - Study guide for...

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Study guide for lecture 11: Branding The ABC’s of branding What is a brand 0. Brand name 0. A name, term, symbol, design, or combination thereof that identifies a seller’s  products and differentiates them from competitors’ products 0. Trade name 0. The name under which a company does business (DBA) 1. Trademark (service mark) 1. A legally protected brand name 2. Types of brands 1. National brand 0. (aka producer brand) 3. Private-label brand 2. (aka middleman brands) 2. Generic brand 1. (aka no brand) 2. In theory eliminates advertising cost 3. No longer in fashion 1. According to Bruce 3. A brand is a promise 4. Your brand will be successful if the promise is valuable to your customers and if  you keep your word. 2. Why Brand? 5. Assurance of quality for consumer 6. Create competitive advantage 4. Barrier to entry 5. Average of $7.5 million to introduce a new brand Marketing 431 Study Guides  ©  2009 Lecture 11: Branding page 1
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How to create a brand 4. Classical conditioning 3. The learning that occurs when a stimulus eliciting a response is paired with  another stimulus that initially does not elicit a response on its own but will cause a  similar response over time because of its association with the first stimulus 5. Stimulus generalization 4. Behavior caused by a reaction to one stimulus occurs in the presence of other,  similar stimuli 3. Branding is classical conditioning 7. You pair the trademark with the benefit 8. This becomes the brand promise 4. Similar to positioning 9.
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Study_Guide_for_Lecture_11_-_Branding - Study guide for...

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