BU470 Chapter Notes - Chapter 4: Marketing Buzz, Viral Marketing, Product Placement
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The foundation: a brand must first reduce functional risk for the consumer followed by psychological risk, once the brand is used for self-expressive purposes, as a booster of self-esteem, the brand personality becomes more important. Brand name: hould e(cid:448)oke the desi(cid:396)ed asso(cid:272)iatio(cid:374)s a(cid:271)out the (cid:271)(cid:396)a(cid:374)d"s ide(cid:374)tit(cid:455), i(cid:373)age, a(cid:374)d ulti(cid:373)atel(cid:455), personality, brands will change names for many different reasons (often shortening) In commodity-like categories where involvement is very low, consumers do not pay much attention to much of anything except p, defeating these efforts. Is the brand legally available in all potential market countries: does the brand name fit w the value proposition & the intended positioning, can people pronounce & understand the name, the brand name should be unique & memorable. Legally protected: sometimes the name is the logo (coca-cola, mea(cid:374)t to gi(cid:448)e a (cid:448)isual (cid:396)ep(cid:396)ese(cid:374)tatio(cid:374) of the (cid:271)(cid:396)a(cid:374)d, (cid:449) (cid:373)o(cid:396)e su(cid:271)li(cid:373)i(cid:374)al (cid:862)(cid:396)ight-(cid:271)(cid:396)ai(cid:374)ed(cid:863) i(cid:373)pa(cid:272)t tha(cid:374) the (cid:272)og(cid:374)iti(cid:448)e (cid:862)left-(cid:271)(cid:396)ai(cid:374)ed(cid:863) (cid:396)ep of the (cid:374)a(cid:373)e itself.
