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m1l4 - Spring 2011 Module 1 Delighting Customers Lecture 4...

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David Robinson © D. Robinson, 2011 Spring 2011 Module 1 Delighting Customers Lecture 4: Product II
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Class 4: Product II Brands Product Life Cycle Product management for mature products
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Product as one element of the Marketing Mix Marketing Mix Product Price Place Promotion
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Brands Way to differentiate similar products A brand is a short-hand for the value offered and expected Why will people pay more for branded goods? Why did branding turn out to be important for e- commerce?
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Understanding Branding: 2 parts The external features of the brand The brand promise
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The Brand Promise The brand promise An assurance from the producer to the consumer of consistent value
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Many products have multiple brands Notice all the brands: 1. EA Sports 2. Madden 3. NFL 4. Riddell 5. NFL Players 6. Cardinals 7. XBox
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Understanding Branding: 2 parts The external features of the brand How consumers recognize the brand
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External Features of “ Brand A brand is more than a name Name Short, pronounceable,
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