RSM100Y1 Lecture Notes - Lecture 8: Brand Equity, Luxury Goods, Marketing Mix
31 Mar 2016
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Document Summary
Old ads- very wordy, advertising and marketing has evolved. Place- walt disney bought huge piece of land, due to great weather, still in the us. Designing their cruise ship- colors of the cruise ship are the same as mickey mouse, family oriented layout. Primary data- collect yourself, customized to your specific need, expensive. Secondary data- collected by someone else, cheaper but not exactly what you want. Sociocultural- must understand culture before you release an ad. During a recession you wouldn"t release a luxury good. Shirts at bay are organized by style rather than winners who organizes as size, winners gets all the leftovers. Brand equity- how much value you associate to the brand. Brand loyalty- how loyal you are to a brand. Brand awareness- associating a product to a specific brand. Goal of marketing is too increase sales and profits. Virgin company- ceo richard branson, embarrassed ba, a competing company. Toy manufactures are bombarding teens with sex advertising.
