They draw conclusions about quality from the place people price equipment and

They draw conclusions about quality from the place

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quality. They draw conclusions about quality from the place, people, price, equipment, and communications that they can see. Services cannot be separated from their providers, whether the providers are people or machines. Service Inseparability Quality of services depends on who provides them as well as when, where, and how they are provided Service variability Services cannot be stored for later sale or use Service Perishability The perishability of services is not a problem when demand is steady. However, when demand fluctuates, service firms often have difficult problems.
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The Service Profit Chain The service profit chain is the chain that links service fir m profits with employee and customer satisfaction. This chain consists of five links: Interna l service quality Satisfied and productive service employees Greater service value Satisfied and loyal customers Healthy service profits and growth
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Branding Strategy: Building Strong Brand s Some analysts see brands as the major enduring a sset of a company, outlasting the company’s speci fic products and facilities.
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Brand Equity It’s the differential effect that knowing the brand name has on consumer response to the product and its marketing. It’s a measure of the brand’s ability to capture consumer preference and loyalty. Brand Equity A brand has positive brand equity when consumers react more favorably to it than to a generic or unbranded version of the same product. It has negative brand equity if consumers react less favorably than to an unbranded version.
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Brand Equity Ad agency Young & Rubicam’s BrandAsset Valuator mea sures brand strength along four consumer perception dim ensions: Consumer perception dimension s Consumer perception dimension s Differentia tion (what makes the brand stand out) Differentia tion (what makes the brand stand out) Relevance (how consumers feel it meets their needs) Relevance (how consumers feel it meets their needs) Knowledge (how much consumers know about the brand) Knowledge (how much consumers know about the brand) Esteem (how highly consumers regard and respect the brand) Esteem (how highly consumers regard and respect the brand)
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Building Strong Brands
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Brand Name Selection Desirable qualities for a brand name include the followin g: 1. It should suggest something about the product’s benefits an d qualities, such as Beautyrest. 2. It should be easy to pronounce, recognize, and remember, s uch as iPad. 3. The brand name should be distinctive, such as Panera. 4. It should be extendable ─ Amazon.com began as an online bookseller but chose a name that would allow expansion int o other categories. 5. The name should translate easily into foreign languages. 6. It should be capable of registration and legal protection.
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Brand Development Line Extensions It occurs when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category.
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  • Spring '11
  • Fareeha

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