Chapter 7 - Branding Flashcards
Types of consumer products (4)
- Convenience
- Shopping
- Specialty
- Unsought
Types of consumer products (4)
*Convenience
Convenience: purchased frequently, immediately, and with a minimum of comparison and buying effort
Types of consumer products (4)
**Shopping
Shopping: consumer compares product alternatives such as suitability, quality, price, and style
Types of consumer products (4)
**Specialty
Specialty: unique characteristics or brand identification, which the consumer is willing to make a special purchase effort. Eg: Rolex Watch, Ferrari car
Types of consumer products (4)
**Unsought
Unsought: a product the consumer does not know about, or normally consider buying. Eg: burial plot, life insurance, dental services
Business product definition
a product bought by individuals and organizations for further processing or for use in conducting a business
Business product types (3)
- Materials and parts
- Capital items
- Supplies and services
Business product types (3)
**Materials and parts
Materials and parts: raw and manufactured materials, component parts
Business product types (3)
**Capital items
Capital items: buildings, land and equipment used in buyer’s production or operations, long useful life
Business product types (3)
** Supplies and services
Supplies and services: operating supplies, repair and maintenance items, and services
Branding
key dimensions that define and determine the most influential brands in Canada Trustworthy Engagement Leading edge Corporate citizenship Presence
What makes a brand? (6)
- brand name
- jingles
- Slogans
- characters
- logos/symbols
- URL
What are some values of branding? (6)
- brands impact market value
- brands assets
- reduce marketing costs
- protect from competition
- brand loyalty
- facilitate purchasing
Choosing a brand name
- suggest benefit
- easy to pronounce and remember
- positive and distinct
- capable of legal protection
How to protect brands (3)
- patent
- copyrights
- trademark
