MKT 517 Unit I Exam

One o f the mo st p o p ular and p o te ntially imp o

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: t p o p ular and p o te ntially imp o rtant m a r k e t i n g c o n c e p t s to arise in the 1980s was b r a n d e q u i t y ; b rand e q uity has e le vate d the imp o rtance o f the b rand in marke ting strate g y and p ro vid e d f o cus f o r manag e rial inte re st and re se arch activity. Fund ame ntally, b rand ing is all ab o ut e nd o wing p ro d ucts and se rvice s with the p o we r o f b rand e q uity. Brand e q uity co nsists o f the marke ting e f f e cts uniq ue ly attrib utab le to a b rand . T hat is, b rand e q uity e x p lains why d if f e re nt o utco me s re sult f ro m the marke ting o f a b rand e d p ro d uct o r se rvice than if it we re no t b rand e d . T he b rand e q uity co nce p t re inf o rce s ho w imp o rtant the b rand is in marke ting strate g ie s. Marke te rs can b rand virtually any typ e o f p ro d uct b y g iving the p ro d uct a name and attaching me aning to it in te rms o f what it has to o f f e r and ho w it d if f e rs f ro m co mp e tito rs. A numb e r o f b rand ing challe ng e s and o p p o rtunitie s f ace d b y p re se nt-d ay marke ting manag e rs we re o utline d re late d to chang e s in custo me r attitud e s and b e havio r, co mp e titive f o rce s, marke ting e f f icie ncy and e f f e ctive ne ss, and inte rnal co mp any d ynamics. Strate g ic b ra...
View Full Document

Ask a homework question - tutors are online