MKT 100 Lecture Notes - Lecture 24: Shoppers Drug Mart, Heinz Tomato Ketchup, Pampers

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mary Foster

Document Summary

Of a promise (commitment to everyone it deals with) Consistently kept (used to set priorities and make decisions) Value of branding for the customer and the marketer . Brands are assets: to a company and can affect its evaluation (brands bring loyal customers, reputation and credibility) Brands reduce marketing costs: a well-known brand needs not to spend a lot of money on its marketing mix and less promotion is required. Brands impact market value: can be priced higher than average as a branded name is associated with higher quality. Brands protect from competition: going head to head with a well-branded brand = more costs for the competitor thus puts the brand on top always. Brand awareness: is due to size, national network, and the consistent role it plays in the lives of consumers of the company. Td associated with banking, bell with communications, shopper"s drug mart with necessities.