Topic 5 - Crafting Customer Value: Offerings and Brands

Question 1

brand

Answer 1

a name, term, sign, symbol, or design, or a combination
of these, that identifies the maker or seller of a product or service. Consumers view a
brand as an important part of a product, and branding can add value to a consumer’s
purchase. Customers attach meanings to brands and develop brand relationships. As
a result, brands have meaning well beyond a product’s physical attributes.

Question 2

Branding

Answer 2

A name, term, sign, symbol, or design, or a combination of these, that
identifies the products or services of one seller or group of sellers and differentiates
them from those of competitors.

Question 3

Packaging

Answer 3

The activities of designing and producing the container or wrapper for a
product. In recent times, however, packaging has become an important
marketing tool as well. Increased competition and clutter on retail store shelves
means that packages must now perform many sales tasks −from attracting buyers,
to communicating brand positioning, to closing the sale. Not every customer will see
a brand’s advertising, social media pages, or other promotions. However, all
consumers who buy and use a product will interact regularly with its packaging.

Question 4

Which functions do labels perform?

Answer 4

At the very least, the label
identifies the product or brand. The
label might also describe several things about the product −who made it, where it
was made, when it was made, its contents, how it is to be used, and how to use it
safely. Finally, the label might help to promote the brand, support its positioning, and
connect with customers.