AC 114 Study Guide - Midterm Guide: List Price, Brand Awareness, Root Mean Square

• School: FIT
• Department: Advertising and Marketing Communications
• Course: AC 114
• Professor: Alis Purcell

Document Summary

Chapter 11 - product branding and packaging decisions. Core customer value: which de nes the basic problem solving bene ts that consumers are seeking. Augmented product: include the non physical aspects of a predict such as product warranties, nancing, product support and after sale service. These products require lots of marketing effort and various forms of promotion. Provides a way for a rm to differentiate its product offerings from those of its competitors. Brand adds value to merchandise and services. The value of a brand translates to brand equity. Brand awareness, perceived value, brand associations and brand loyalty. The perceived value of a brand is the relationship between a products or services bene ts and its cost. Brand associations re ect the mental and emotional links that consumers make between a brand and its key product attributes. Manufacturer brands also known as national brands are owned and managed by a manufacturer.