COMMERCE 2MA3 Lecture Notes - Lecture 9: Brand Equity, Liquid Oxygen, Sustainable Packaging
26 Feb 2019
School
Department
Course
Professor
Document Summary
Lo3: explain the difference between a product mix"s breadth and a product line"s depth. Lo4: identify the advantages that brands provide firms and consumers. Lo6: describe the types of branding strategies used by firms. Lo7: state how a firm"s packaging and labelling contribute to a firm"s overall strategy. For example, if we talk about mcmaster university, the core customer value would be highly acknowledged education. The actual product would be the different degrees offered and the certificates. The augmented product would be other services offered by the university like transportation, career placement, the website, etc. Products bought by individual consumers for their personal use are called consumer products (as opposed to products bought by businesses, to be discussed in another chapter). Products that consumers spend a fair amount of time comparing alternatives like clothes, furniture, electronic devices, etc . Frequently purchased everyday products that consumers are not ready to spend any time evaluating alternatives like toothpaste, milk, water, soap, etc.
