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Branding
CLASS NOTES
Branding:
Generic- no brand whatsoever.
-Peaked at 2% market share in US
-Only works in a price sensitive market
-Works well in low-involvement situations
Manufacturer/National- owned by and sponsored by people
who make the product.
-Most brands in US fall in this category
Private/Store- sponsored by the retailer.
-(HEB, Kroger brand products)
-20-25% market share in US
Types of Branding:
Individual- everything a company makes is marketed under
different brand names.
Blanket Family- everything a company makes has the same
brand name.
Separate Family- separate family names for different types
of goods.
Brand Names:
-Legally protectable
-Inherently memorable
-Supports image (ie: masculine products needs masculine
name)
Fanciful Brand Name
-Receives full protection from courts
-Made up name, means nothing
-The only value in the name was put there by the people
who created it
-(ie: Exxon)
7. Repetitive sounds
a. Rhythm allows you to recall brand names more
easily. Alliteration- repetition of consonance.
Assonance- repetition of vowels. Consonancerepetition of consonance but with a vowel change
Product Lifecycle:
Stages:
Mkt. Introduction
-Sales curve low, slowly rising
-Few, if any, competitors
-Production problems/ training problems
Strategies: (4 Ps Mktg)
-Target most willing buyers, they will recognize your
competitive advantage
-Limited product versions
-High price (skimming the cream)
-Respectable
-They are opinion leaders, key group
-Very socially integrated
-High credibility
-Impersonal information sources
Demographics:
-Young (relatively speaking)
-High education, income, and social status
Adopter Type #2: Early Majority
-Deliberate
-Cautious and conservative
-Hard to motivate with promotions
-Evaluation is hang-up. (They get hung-up in
evaluation stage)
-Large peer interactions
-Mix of personal and impersonal info sources
status
Demographics:
-Slightly below average age
-Slightly above average education, income, and social
Mkt. Maturity
-Slow, leveling off of sales/peak sales
-Intense competition
-Over-capacity in industry
-Profits decline
Strategies:
-Lower price
-Distribution at its most intense
-Promotion (some forms) lowered to reminder levels
-Product modification, repositioning, and
differentiation
-Target market modifications
Alternatives:
-Higher promotion with modofications
Random Extras
-Product Modification: altering a products characteristics,
such as quality, performance, or appearance, to increase
its value to customers
-Market Modification: companies try to find new
customers, increase a products use among existing
customers, or create new use situations
-Product Repositioning: changes the place a product
occupies in a consumers mind relative to competitive
products. A company can reposition a product by
changing one or more of the four marketing mix
elements.
-Four factors that trigger the need for a repositioning
action
1. Reacting to a competitors position
2. Reaching a new market
3. Catching a rising trend
4. Changing the value offered