MKTG 351

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MKTG 351

• THE BRAND

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BRAND

• A name, term, sign, symbol, or design, or a
  combination of them, intended to identify the
  offering of an organization and to differentiate
  it from a competitive offering.
• The brand name is vocalized and used in
  advertising to establish loyalty.

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BRAND VALUE

• The reputational benefits of the brand.
• If Product/Service connotes quality then I use
  the brand connotation to evaluate a value.
• Value Benefits gt Price

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BRAND EQUITY

• The power of the brand for extending it to new
  products/markets
• Is longitudinal

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BRAND AWARENESS

• Can the potential consumer EVOKE the brand name
  when the need arises?
• This comes from powerful advertising/promotion.

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BRAND EXTENSION

• Extend the product into new markets
• A strong brand gives instant recognition
• Sometimes costs are high because awareness needs
  to come first.

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BRAND INSIGHTS

• Event Marketing/promotion builds brand
• The Internet will play an important role in Brand
  extension.
• The understanding/ non-confusion of the brand
  name will affect brand awareness-thus affecting
  choice
• no need -----no awareness
• Distinctiveness vs family of brands

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BRAND INSIGHTS (cont)

• Stand for your Brand---The essence of Brand
  Building is standing for something.

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