MGMC11H3 Final: Product-Brand Notes for Exam
Document Summary
Brand: (cid:894)industry"s concept(cid:895): whenever marketer creates a new name, logo or symbol for a new product, he/she has created a brand. Something that has created a certain amount of awareness, reputation, prominence, and so on in the marketplace. Brand elements: a name, logo, symbol, package design or other characteristic that identifies a product and distinguishes it from others different components that identify and differentiate a brand. B(cid:396)a(cid:374)d (cid:374)a(cid:373)es (cid:272)o(cid:373)e i(cid:374) diffe(cid:396)e(cid:374)t fo(cid:396)(cid:373)s: people"s (cid:374)a(cid:373)es, pla(cid:272)es, a(cid:374)i(cid:373)als, (cid:449)o(cid:396)ds (cid:449)ith i(cid:374)he(cid:396)e(cid:374)t p(cid:396)odu(cid:272)t (cid:373)ea(cid:374)i(cid:374)g, (cid:373)ade up words, abstract images. Product: anything we can offer to a market for attention, acquisition, use or consumption that might satisfy a need or want: may be physical good, a service, retail outlet, specialty store, supermarket, person, organization, group, place, idea. Most competition takes place at the product augmentation level because most firms can successfully build satisfactory products at the expected product level.
