i. BRANDING STRATEGIES i. Individual ii. Family iii. Combination j. Manufacturer’s brand : the brand name of a manufacturer k. Private brand : a brand name owned by a wholesaler or retailer l. Captive brand: a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer’s affiliation i. MILLINNIAL SHOPPERS FOUND TO BE MORE LIKELY TO TO BUY STORE BRAND FOODS IN GENERAL m. Individual branding: using different brand names for different products. n. Family branding: marketing several different products under the same brand name o. Co-branding: placing two or more brand names on a product or its package i. Ingredient ii. Cooperative 1. Can be useful when a combo brand name enhances the prestige or perceived value of a product
p. Trademark: exclusive right to use a brand or part of a brand (sounds, shapes, ornamental colors or designs, catchy phrases, abbreviations) q. Service mark: a trademark for service r. Generic product name: identifies a product by class or type and cannot be trademarked E. Packaging a. Packages have always served the practical function of holding contents together and protecting goods as they more through the distribution channel b. 4 functions i. containing and protecting products ii. promoting products iii. facilitation storage, use and convenience iv. to facilitate recycling and reduce environmental damage (new) c. Labeling (2 forms) i. Persuasive labeling : a type of package labeling that focuses on a promotional theme or logo and consumer information is secondary ii. Information labeling : a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase (nutritional labeling and education act of 1990) d. Green-washing : when a product or company attempts to give the impression of environmental friendliness whether or not that is the case e. Universal product codes (UPC) : a series of thick and thin vertical lines (bar codes) readable by computerized optical scanners that represent numbers used to track products F. Global issues in branding and packaging a. When planning to enter a foreign market with an existing product, a firm has 3 options for handling the brand name i. One brand name everywhere (eliminate any negative connotations in any local market. Advantage: greater identification and ease of coordinating promotion) ii. Adaptations and modifications iii. Different brand names in different markets (use localization)
b. 3 aspects of global packaging needs i. labeling ii. aesthetics iii. climate considerations iv. ******care******* c. labeling is harder in bilingual countries like Belgium and Finland G. Product Warranties a. Just as a package is designed to protect the product, the warranty protects the buyer and gives them essential info about the product.
- Fall '13
- Marketing, i., Consumer Buying Decisions