Professional Documents
Culture Documents
Focus: tangible
Creating a brand
Physical goods cereal, car, Airlines, bank, etc More than a product Satisfy customers needs/want & solve solutions it has dimension tht diff from other brands which satisfy same need/solve same problem
Brand v. Product
Rationale/tangible Performance some brand create Competitive advantage with Performance. e.g: Gillette leader
Emotional/intangible What brand represents Understand consumers Motivation & desires Create appealing image e.g: Coke, Channel no5
Strong brands sometimes Has created association Outside marketers control e.g: Coke taste heritage, American icon
A brand comprises of
TANGIBLE ATTRIBUTES
Product Packaging Labeling Attributes Functional benefits
INTANGIBLE ATTRIBUTES
Quality Emotional benefits Value Culture Image
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Symbolic device
CONSUMERS
Assignment of responsibility to product maker
Consumer offer loyalty expect Brand to behave in certain way, Provide utility tru consistent Performance & right pricing & distribution - Satisfy cont buying
Signal of quality
Consumers can handle these risk, but best way is to buy wellknown brands Brands can change expectation and experience Consumers life is more complicated and rushed ability of brand to simplify decision making and reduce risk is invaluable
FIRMS
Source of competitive advantage
Geographic locations
brand