The market place people love the shoes so they assume

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the market place (people love the shoes, so they assume their new product will be good, too) Brand identity: when a brand is used to express values then we say it has a brand identity Aka value expressive consumption Brand personality: a distinctive image that captures a good’s character and benefits (we give a brand human characteristics) Product line expansion: Airwalk began to manufacture gear for mountain biking, snowboarding, and surfing They wanted to be an icon (symbol of a life style) Used brand extension: a new product sold w/ the same brand name as a strong existing brand Brand expansion - a new product sold with the same brand name as a strong existing brand Co-branding: agreement b/w 2 brands to work together in marketing a new product
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Ingredient branding: form of co-branding where branded materials are used as component parts in other products (ex. Tide and Coach) Licensing: an agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time AIRWALK DID NOT USE CO-BRANDING, INGREDIENT BRANDING, OR LICENSING The numbers 1992 $13 mil 1992 $16 mil 1994 $44 mil (when they changed target market and focused on youth) 1995 $150 mil 1996 $175 mil Sponsorships: PR activities through which companies provide financial support to help fund an event in return for publicized recognition of the company’s contribution Airwalk did sporting activities Demographic variables: variables such as geographic, rural vs. urban, socioeconomic status, age, gender, ethnicity, occupation, education, and household size Psychographic variables (things about your personality…what you like, what you choose) AIO: attitudes, interests, opinions VALS: values, activities, and lifestyles Positioning: developing a marketing strategy aimed at influencing how a particular product segment perceives a good or service compared to its competitors Ex. Walmart was “always lowprices” Repositioning: redoing a product’s position to respond to market place chances Ex. Walmart is now “save money, live better” Dee Dee Gordan: worked for Lambesis and hired by Airwalk Her job: cool hunter (market maven) They discover trends before they hit the main stream (triangulation: took their picture, interviews them, and took surveys) Innovators: 1 st to adopt something new Tends to be 1. Middle to upper socioeconomic status and 2. Well educated (3% of the population They stand out and have maybe been labeled eccentric by the mainstream Customize and personalize consumption codes Pasted from < :\Documents%20and%20Settings\Kristie\My%20Documents\UofA\m&amp;c%20notes %2010%2005.docx 10.7.09 Center for Retailing Excellence - Claudia Mobley [email protected] CPG companies - Consumer Packaging Companies (Coke, Pepsi, PnG,
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etc) Study abroad SIFE organization Panel Discussions October 29, 11:00-12:20P Mentoring Program - assigned to an individual for 2 years
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