BUSI 1600U Lecture Notes - Lecture 15: Promotional Mix, Marketing Mix, Product Differentiation
17 Jan 2016
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Document Summary
Managing the marketing mix: product, price, place, and promotion. Developing a total product offer: a total product offer (also called a value package) consists of everything that consumers evaluate when deciding whether to buy something. Packaging changes the product: companies have used packaging to change and improve their basic product, packaging can also help make a product more attractive to retailers. A good brand name : reflects benefits, easy to say, recognize, and remember, distinctive, translates well (no bloopers, can be protected legally. Brand equity: the combination of factors such as awareness, loyalty, perceived quality, images, and emotions that people associate with a given brand name. Brand loyalty: the degree to which customers are satisfied, enjoy the brand, and are committed to further purchase. Brand awareness: how quickly or easily a given brand name comes to mind when a product category is mentioned.
