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Can also provide legal protection for trademarks one

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Can also provide legal protection for trademarks.One danger in licensing:Manufacturers can get caught up in licensing a brand that might be popular at themoment but is only a fad.May produce short-lived sales.Corporate trademark licensing:Licensing of company names, logos, or brands.For use on various, often unrelated products.Firms may license corporate trademarks to:Generate extra revenue and profits.Protect their trademarks.Increase their brand exposure.Enhance their image.Risk:Product may not live up to the reputation established by the brand.Inappropriate licensing can delete brand meaning.Consumers dont care about the financial arrangements behind a particular productor service.If the brand is used, the brand promise must be upheld.Celebrity Endorsement:Using well-known and admired people to promote products:Widespread phenomenon with a long marketing historyRationale:
A famous person can:Draw attention to a brand.Shape brand perceptions, by virtue of consumers perceptions of the famous person.Celebrity endorsers should have:High level of visibility.Rich set of potentially useful associations, judgments, and feelings.Potential problems:Celebrity endorsers can endorse so many products that they lack any specificproduct meaning or are seen as opportunistic or insincere.Must be a reasonable match between celebrity and product.Celebrity endorsers can get in trouble or lose popularity.Social Influencers as the New Celebrities:Rapid growth in the use of social media celebrities for advertising brands.Also, noncelebrity or micro- influencers who have considerable sway on socialmedia.Sporting Cultural or Other Events:Events have their own set of associations:May become linked to a sponsoring brand under certain conditions.Contribute to brand equity by:Becoming associated to the brand and improving brand awareness.Adding new associations.Improving the strength, favourability, and uniqueness of existing associations.Third-Party Sources:Marketers can create secondary associations in a number of different ways:By linking the brand to various third-party sources.Third-party sources can be especially credible source.
Marketers often feature them in advertising campaigns and selling effort.Week 6:Digital Marketing Programs to Build Brand Equity:New Approaches Embraced by Marketers:Rapid technological developments.Greater customer empowerment.Fragmentation of traditional media.Growth of interactive and mobile marketing options.Channel transformation and disintermediation.Increased competition and industry convergence.Globalization and growth of developing markets.Heightened environmental, community, and social concerns.

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Term
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Brand, Brand Associations

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