ADMS 3220 Lecture Notes - Lecture 4: Brand Loyalty, Brand Equity, Splenda

• School: York University
• Department: Administrative Studies
• Course: ADMS 3220
• Professor: Pilar Carbonell

Document Summary

A brand is more than just a name, it"s a portfolio of associated qualities: marketers should choose a name that conveys information; however there can be advantages to using non-meaningful names. For companies with large promotional budgets, names with no meaning are a viable option. Customer"s benefits of branding: brands convey information, brands allow for predictable quality, brands make decision making easier, brands serve as status symbol. Company"s benefits of branding: good brands induce loyalty, consumers are willing to pay premium prices for brands they value, brands allow firms to target multiple segments, brands protect the company from competitive action. Types of brand associations: product attributes, product benefits, emotional benefits, self-expressive, social. Brand communities: group of customers with an extreme attachment that come together over a brand. Brand personalities are a way marketers get customers to relate to their brands: dimensions include: Line extension: new product within a line increase depth.