Chapter 5 Flashcards
Starbucks
- the product is everything the customer experiences core prouduct: coffee functional: staff, service, quality augmented: logo, guarantee, CSR, website potential: "third place"
D-Base Transformers
- selling transformers and undercut by Chinese competitors who could sell at lower prices
- must focus on customers that valued the product D-Base offers – insight technical advice and short production runs
core product
the good/service, the main sell
functional product
how the product functions and performs
augmented product
all the available additions to the basic product
potential product
the true solution the customer wants or seeks from the offering
- customers don’t buy the core product but the potential product
“Build your brand from the inside out, but communicate (focus) from the outside in”
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CEMEX
- building and materials supplier
- adopted 911 like system with cement trucks to make deliveries when best suited for clients without delay issue
How to Build a Strong Brand
- What Business Am I In
- Create Brand Identity
- Implement Brand Identity
- Measure Brand Equity
- Refresh the Brand
What Business Am I In
- never define your brand in terms of what you do
- rather define it in terms of what outcomes you do
Build Brand Identity
- establishes customer behaviour/associations towards a brand
brand identity
- strategic
- set of brand associations
- brand promise
- brand concept as the strategist intends it to be
Samsung
fighting weak brand perception by developing an emotional connection with customers (distinct forms, colours, names, ring tones)
brand image
- set of brand associations actually in the marketplace
- strategist has no control over brand image, can only measure it
brand equity
measured based on brand awareness, brand association and brand loyalty
