MGMT 1 Chapter Notes - Chapter 14: Debit Card, Profit Margin, Retail
Document Summary
Gives companies different ways to sell their products/appeal to different parts of your market (different customers) Packaging functions: visibility, usefulness, and attractiveness: attracts customer attention, offers protection, offers protection from theft o. Manufacturers" brands: brand names of manufacturers that distribute products nationally. (e. g. Dealer (private-label) brands: products that carry a retailer"s or distributor"s brand name instead of a manufacturer"s (e. g. macy"s- charter club; house/private label brand) Generic goods: non-branded products that sell at a discount compared to manufacturers" or dealers" brands (e. g. medicine: medicine is cheaper if it doesn"t have the brand name on it/still is the same drug) Brand equity: combination of factors (awareness, loyalty, perceived quality, images, and emotions) that people associate with a brand name and that make it valuable. Brand loyalty: picks your brand over another brand. Brand awareness: how quickly/easily a given brand name comes to mind when someone mentions a product category o o o. Companies seek to reach these levels within customers.
