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Date Submitted: 10/07/2014 06:04 PM
Chapter 10
Brand ownership – all categories
e.g., manufacturers/national brands, private labels/store brands, etc.
-Private Label/store brands/own brand-Premium owned by store
-Generic-no brand
-Copycat-packaged and looks like national brand
-National Brand-Large easily recognized brand
-Premium brand-same level as national
Brand naming strategies
-Family brand name- everything has same name ex) Heinz everything
-Individual Brand name-give one name for each product ex) proctor and gamble
-Combination- have both family and individual ex)cereal
Brand extensions-same brand name for new products being introduced to same markets--works if you have good brand equity
Brand dilution- brand extension adversely affects customer perceptions about core brand
Brand licensing-contractual agreement between firms where one can use the brand name for a fee
Co-branding-marketing two or more brands together on same package or promotion Target X Odin
Repositioning/Rebranding-change brand focus to target new markets or realign with core emphasis
Packaging and labeling--markets the product, protects the product, recognition
Label-legal issues, information about product, instructions, branding
Chapter 11
Benefits of new products-FIrst chance at market share
avoid market saturation
maintain sales
fill new customer tastes/needs
managing risk through diversity
Pioneers-Radically change competition and consumer preferences ex. iPad, break tradition--new to the world, attract innovators, control market share*
5 types of new products (not in textbook – lecture only!)
-Pioneer
-New category entry: new for a brand
-Addition to product line: ex. Tide with bleach
-Product improvement
-Product Repositioning: create new image, baking soda
Diffusion of innovation – and the groups within this category; know general
characteristics of each
-Relative Advantage: do more than competition, perception
-Compatibility: how well it works with target customers...