How do you build a brand? Marketing Programs ProdPriPl

Question 1

4 examples of unique P’s offered by brands today

Answer 1

Product: Hermes
Price: CostCo
Place: Tesla
Promotion: Apple

Question 2

Ups trucks examples

Answer 2

What do they want us to believe?

Military accuracy and guidelines followed closely. (Military truck and military outfits in very specific colour)

Question 3

A product must

Answer 3

Satisfy a need or a want of customer in order to build brand equity for the brand element

Question 4

Product’s required successful components to build brand equity:

Answer 4

Design 
Experienced 
Manufacture 
Delivery 
After Marketing
Service

Question 5

Pricing

Answer 5

creates associations in the consumer’s mind - Which can build (or hurt) brand equity

Question 6

Brander

Answer 6

Has to understand the premium that is perceived in the brand

Question 7

Pricing can change

Answer 7

People's experiences with a product and, therefore, the outcomes of consuming that product 
Too expensive: Nobody buys 
A bit expensive: Could be attractive
A bit cheaper: Can be super attractive 
Too cheap: Repulses customers

Question 8

Retailers impact Brands:

Answer 8

Better Distribution (Customers have more direct experience with brand)
Vibe of the store can affect their mood & pervade them to buy
In-store comparison with other products (Yours might be chosen by customers - PoD PoP)
Stockage & presentation
Salesperson & Service quality can increase your sales

Negative Impact: SPILLOVER effect of the retailer (if not appreciated by customer base)