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Ch8 Notes - Chapter8 TheBrand 1 BrandElements 2 BrandEquity...

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Chapter 8   The Brand 1. Brand Elements 2. Brand Equity 3. Building Brands 4. Packaging and Labeling
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1. Brand Elements Our objective is to understand the essential  aspects of a brand. A brand is an identifying  name, term, design, symbol or any other  feature that identifies one marketer’s product  as distinct from those of other marketers.  Branding helps buyers identify and evaluate  products. It also benefits sellers by facilitating  product introduction, repeat purchasing, and  promotional efforts. 
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Brands are the  touch points  to a consumer. They stand for something...
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Most Anything Can be Branded ...
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Your  brand  isn’t what  you  say  it is… It’s what  they  say  it is
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Brand A name, term, sign, symbol or design, or a combination of them,  intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
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Brand Elements Slogans Brand names Websites Logos Color Scheme Characters Memorable   Meaningful  Likeable
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Branding Branding Core benefit Core benefit What is the customer really buying? What is the customer really buying? Value proposition Value proposition What does the brand deliver that customers  What does the brand deliver that customers  value? value? Must be competitively superior Must be competitively superior
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Attributes of Strong Brands Excels at delivering  desired benefits Stays relevant Priced to meet  perceptions of value Positioned properly Communicates  consistent brand  messages Well-designed brand  hierarchy Uses multiple  marketing activities Understands  consumer-brand  relationship Supported by  organization Monitors sources of  brand equity
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The Role of Brands Identify the maker Identify the maker Simplify product handling Simplify product handling Organize accounting Organize accounting Offer legal protection Offer legal protection
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