TR Chapter 12 - Copyright © 2007 by Nelson, a division of...

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Unformatted text preview: Copyright © 2007 by Nelson, a division of Thomson Canada Limited Chapter 12 Chapter 12 Category and Brand Category and Brand Management, Management, Product Product Identification, and Identification, and New-Product New-Product Development Development 12-2 Copyright © 2007 by Nelson, a division of Thomson Canada Limited Chapter Objectives Chapter Objectives 1. Explain the benefits of category and brand management. 2. Identify the different types of brands. 3. Explain the strategic value of brand equity. 4. Discuss how companies develop strong identities for their products and brands. 5. Identify and briefly describe each of the four strategies for new-product development. 6. Describe the consumer adoption process. 7. List the stages in the process for developing new products. 8. Explain the relationship between product safety and product liability. 12-3 Copyright © 2007 by Nelson, a division of Thomson Canada Limited Branding is the process of creating that identity. Buyers respond to branding by making repeat purchases because they identify the item with the name of its producer. Brand: Brand: name, term, sign, symbol, design, or some combination that identifies the products of a firm while differentiating them from the competition’s Creating and Protecting a Strong Identity Creating and Protecting a Strong Identity for Products for Products 12-4 Copyright © 2007 by Nelson, a division of Thomson Canada Limited Brand Loyalty Brand Loyalty Brand recognition Brand recognition : Consumer awareness and identification of a brand. Brand preference Brand preference : Consumer reliance on previous experiences with a product to choose that product again. Brand insistence Brand insistence : Consumer refusals of alternatives and extensive search for desired merchandise. 12-5 Copyright © 2007 by Nelson, a division of Thomson Canada Limited Types of Brands Types of Brands Generic product Generic product : item characterized by plain label, with no advertising and no brand name Manufacturers’ brand or National Brand Manufacturers’ brand or National Brand : brand name owned by a manufacturer or other producer Private brands Private brands : brand name placed on products marketed by wholesalers and retailers Captive brands Captive brands : national brands that are sold exclusively by a retail chain Canadian Tire’s captive brands include Debbie Travis line of paints 12-6...
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This note was uploaded on 02/06/2011 for the course ADMS 2200 taught by Professor Lao during the Spring '10 term at York University.

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TR Chapter 12 - Copyright © 2007 by Nelson, a division of...

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