BU362 Chapter Notes - Chapter 9: Brand Equity, Fire Extinguisher, Toothpaste
Document Summary
Lo1: complexity of products and types of products. Lo2: types of products: consumer products are products and services used by people for their personal use. Convenience products/services: those products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase, frequently purchased commodity items, bought with little thought - bread, soap, beverages. Increase depth: add new products within a line to address changing consumer preferences or to compete, taco bell, new varieties of dorito locos tacos - 123 different flavours. Insulates the brand from competition because loyal consumers do not want to switch brands. Ibuprophen drug: acceptance of generic brands have declined because consumers question quality. Family brands: use its corporate name to brand similar product lines, kellogs, kellogs corn flakes, kellogs froot loops, kellogs rice crispi"s. Individual brands benefit from the overall awareness associated with the family name.
