Chapter 12

Chapter 12 - CHAPTER 12 Developing and Managing Brand and...

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CHAPTER 12 Developing and Managing Brand and Product Categories Principles of Marketing Minneapolis Community and Technical College Instructor: Dave Skogstrom Office: Management Education Center, Room 1050 Phone: 612-659-6422 Email: www.dave.skogstrom@minneapolis.edu .
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Chapter Objectives Developing and Managing  Brand and Product Categories CHAPTER    12 1 2 4 7 8 Explain the benefits of  category and brand  management. Identify the different  types of brands. Explain the strategic  value of brand equity. Discuss how  companies develop  strong identities for  their products and  brands. Identify and briefly  describe each of the  new-product  development  strategies. Describe the consumer  adoption process. List the stages in the  new-product  development process. Explain the relationship  between product safety  and product liability. 5 3 6
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CHAPTER 12 Developing and Managing Brand and Product Categories MANAGING BRANDS FOR COMPETITIVE ADVANTAGE Brand Name, term, sign, symbol, design, or some combination that identifies the products of one firm while differentiating them from the competition’s. • Brands have a powerful influence on consumer behavior. 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.
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CHAPTER 12 Developing and Managing Brand and Product Categories BRAND LOYALTY Has to do with consumer familiarity and acceptance of your product . Don’t try to mess with the order. If your product is new, start with developing brand recognition. • Measured in three stages: (last one is my addition) Brand recognition Consumer awareness and identification of a brand. Brand preference Consumer reliance on previous experiences with a product to choose that product again. Brand insistence Consumer refusal of alternatives and extensive search for desired merchandise. Brand Rejection : aware of brand and chose to ignore or reject it.
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CHAPTER 12 Developing and Managing Brand and Product Categories Product Identification Brand name Brand name : part of a brand consisting of words or letters that form a name that identifies and distinguishes a firm’s offering from those of its competitors Brand mark Brand mark : symbol or pictorial design that identifies a product Generic name Generic name : branded name that has become a generically descriptive term for a class of products (e.g., nylon, aspirin, kerosene, and zipper)
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CHAPTER 12 Developing and Managing Brand and Product Categories PRODUCT IDENTIFICATION Products identified in the marketplace by brand names, symbols, and distinctive packaging. • Choices about how to identify products are a major strategic decision.
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Chapter 12 - CHAPTER 12 Developing and Managing Brand and...

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