Chapter 11

• vaeline
• cleanex
• chapstick
• white out
• Jacuzzi
• Kawasaki
• ziplock
• all have strong brands which are synonymous with the product itself
• people will not look for your product
• what is a brand ? What are its functions?
• A brand is a name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate thm fro those of other sellers
• key brand elements
• characters
• slogan
• design
• jingles
• name
• advertising
• marketing
• logo
• color
• advertising and marketing is binding elements that must align wit the company
• brands
• facilitate purchases
• establish loyalty
• protect from competition and price compet
• ition
• reduce marketing costs
• are ( intangible) assets
• impact market value
• brand equity - the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.
• brand equity is the difference between the market value and book value
• brand ownership
• manufacturer brands  ( national brands)
• owned and managed by the manufacturer
• " name brand"
• Private- label brands
• ( retailer/store brands
• products developed by retailers
• "generic brand"
• branding strategies
• naming product lines and brands
• individual brand name and strategy
• each product in the product mix is given a specific brand name
• family brand name strategy
• all or most products are associated
• the use of the same brand name for new products being introduced to the same or new markets
• more likely to be accepted
• brand dilution occurs when a brand adversely changes what they sell
• a contractual agreement between firms, where by one firm allows another to use its brand name, logo, symbols, and /or characters in exchange for a negotiated fee
• creation of a new look and feel for an established brand
• adjust a changing market preferences
• change a brand's focus to target new markets