Assignment On Product and Brand Management Submitted To Submitted By Prof. Neeraj Dubey Virendra Prasad Tamta (1219) Date: 13 Feb 2013 Centre for Management Education Vaikunth Mehta national Institute of Cooperative Management University Road, Pune- 411 007 -------------------------------------------------
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Market - the place where offer and demand meet. Marketing - set of actions used by organizations to influence public behaviour they depend on. The value of a product is linked to consumer perception: the consumer believes he will get an experience that is worth the money. Perceived value -> Experience -> Satisfaction -> Preference Understand the market –> Adapt to the market -> Better influence the market Types of Market: Company, Reference, Generic, Induced (print ink)
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The failure and success of any organization or brand of any organization or business depends on the behaviour of the end user of the product /service. This is important even to the channel members who carry the product/service to the consumer. Hence understanding the consumer behavior helps the organization or the marketer to identify the strengths & weakness of the business. The consumer behaviour has an impact on the decision to purchase the product. The organization makes production decisions
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Brand Extensions and consumers perceptions During the 21st century, globalization has transformed the way businesses operate (Doh, 2003). Competition is tougher than even before and for that reason, companies have to maximize their competitive advantages in order to stay in business. One way to do it is by exploiting their brand name through brand extension, the practice of using a well-known brand name to promote new products in an unrelated field (“Brand Extension”, 2013). Previous studies
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Black and Decker Study Case 1. What is the cause of B&D’s 9% share vs. Makita’s 50%? The brand perception associated with B&D was in the lower half in comparison Makita. People believed B&D provided good products for the consumer but not for the professional. This view of the consumer product translated into the professional segment. Coloration may even have an impact on this as people that used the colors associated with B&D were not taken seriously in the professional segment
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The discipline of brand marketing was created in the 1950s by consumer package goods companies like Procter & Gamble as a way to differentiate their products from their competitors with very similar offerings. Think about the recent example from Mad Men — Ketchup was created by Heinz to stand out versus all of the competitors’ catsups. Like most brand marketing, the product was essentially the same from one manufacturer to the other, but the marketing and the point of difference (commonly referred
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creating this model was to analyze how individuals sort through facts and influences to make decisions that are logical and consistent for them. Think like an economist with this convenient tool. The CDP model consists of seven major stages: Need recognition, search for information, pre-purchase evaluation of alternatives, purchase, consumption, post-consumption evaluation and divestment. The aim of this paper is to discuss these processes with reference to a product and analyze the reason why marketers
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“Brands have become a ubiquitous phenomenon in our contemporary world. They are indispensable for companies and consumers alike. Critically discuss this contention” “Branding is at once one of the most artificial and yet most real forces in our society” * Kornberger 2010 This paper assesses and discusses the importance of brands in todays world. Focusing on the positive and negative affects brands can have through the initial relationship of a product to a name, to then more importantly
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invest in the development of new product innovation and comprehensive brand positioning (Person Education). General electric focused on developing appliances they had limited distribution, that provided capabilities and dependability that created in excitement in customers, and that allowed the company to charge high end prices for their products. Limited Distribution Strategy As General Electric looked at how to market their Profile and Monogram appliance products they chose to use a limited distribution
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Positioning by Brand Personality …...….............................................................….…..............4 Positioning by Consumer Benefits.................................................................................5 Positioning by Price.......................................................................................................6 Positioning by Brand User.............................................................................................8 Positioning by Brand Personality
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