AFM131 Study Guide - Final Guide: Malcolm Gladwell, Brand Loyalty, Brand Equity

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Bob Sproule

Document Summary

Marketing is always focused on the value of a product benefits less the cost. Malcolm gladwell, what we learn from spaghetti sauce consumers not knowing or being able to articulate their needs. The total product offer is everything each consumer assesses when buying a good or service value enhancers, see figure 15. 1. on page 454. Product lines and mixes allow a company to address differing individual consumer total product offers. Product differentiation are the unique value enhancers used by a company to create differences when compared to competitors" products. What does a brand do for the buyer assures quality, reduces search time, adds prestige to purchases. What does a brand do for the seller new product introductions, help promotion, add to repeat purchases, differentiate products so that prices can be set higher. Use of trademarks protects brand name and design. Brand equity - value of brand name, measure of earning power.