Brand_350_Notes_Apr_08

Brand_350_Notes_Apr_08 - Existing Products Best Global...

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Existing Products
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Best Global Brands 2007 1. Coca-Cola 2. Microsoft 3. IBM 4. GE 5. Nokia
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Best Global Brands 2007 (continued) 6. Toyota 7. Intel 8. McDonald’s 9. Disney 10. Mercedes-Benz
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Branding Basics Brand name, term, symbol, or design, or a combination of these intended to identify a firm’s good or service Why brand? 1. make the firm's product stand out 2. improve ease of identification
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Branding Basics (continued) Consumers pay more for brands! 1. due to reliable quality 2. best brands = warranty of quality 1. brand awareness 2. brand meaning 3. brand loyalty
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Brand Meaning Attribute Level brands evoke product attributes (e.g., Mercedes- Benz) “exceptional engineering” “durable” “high prestige” “fast” “expensive” “outstanding resell value”
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Brand Meaning (continued) Benefit Level consumers don’t buy attributes, they buy benefits; bridging* “durable” => “I won't have to buy a new car every few years” “expensive” => “The car makes me feel important and admired”
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Brand_350_Notes_Apr_08 - Existing Products Best Global...

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