Marketing Chapter 7 Notes Product, Services, and Brands: Building Customer Value I. What is a product? * Product: anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. * can include events, persons, places, organizations, ideas. * Services: An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. * Examples: banking, hotel,
Words: 1736 - Pages: 7
distinct and value place in the mind of the target customers”. A brand can be positioned by associating its name with the desirable benefit. For example: Volvo – Safety Hallmark – Caring Lexus - Quality A firm may choose to target its product at a particular section of an overall market. It may try to portray the product in a certain way and give the brand characteristics that would influence the consumer's purchasing decisions. 2. Why do firms try to establish brand names? Firms try
Words: 643 - Pages: 3
Contents Haier 2 Research on brands and branding 2 Strong in home market 2 Geographical balance in sales 3 Addresses similar consumer needs worldwide 4 Standardization vs. Adaptation 4 Marketing mix 5 Consistent positioning 5 Haier’s mission statement 6 Haier’s Vision statement 6 Consumers value the country of origin 6 COO theory 6 Product category focus 7 Corporate name 8 Branding and strategy 8 Extent of globalization 9 Analysis of the brand 10 Marketing metrics 10
Words: 4264 - Pages: 18
company. Brand Rosewood is only known among hotel professionals. Rosewood differs from its completion by giving uniqueness to its hotels. Rosewood hotels carry their own brand. Rosewood hotels are unique, each hotel is one of its kinds, and they are creative and flexible. Each hotel’s interior, exterior and menu reflect the local culture and define the local philosophy. Rosewood growth strategy: 1. Re-launch and re-position an existing luxury hotel which has a strong brand name by providing
Words: 633 - Pages: 3
From wikipedia: Brand From Wikipedia, the free encyclopedia For other uses, see Brand (disambiguation). "Marque" redirects here. For other uses, see Marque (disambiguation). [pic] [pic] The Coca-Cola logo is an example of a widely-recognized trademark representing a global brand. |Marketing | |Key concepts | |Product marketing · Pricing
Words: 5688 - Pages: 23
luxury brand products should have been affected an lost sales in the world market. However, LVMH reported a 20% sales increase from the last quarter of the year, Gucci increased 22% in sales reported last week (Christina, 2012). This is the opposite of what we would have expected. The increase in sales of global luxury brand in the market shows the trend of current consumers which are younger than the older consumers of the past (Twitchell, 2002). More and more people buy luxury brands, not
Words: 3956 - Pages: 16
Las Vegas Case analysis 1- Given all the changes in the branding strategy, has the Vegas brand had a consistent meaning to consumers? Is this benefit or a detriment as the city moves forward? Ans: yes there is a consistent meaning. Although the positioning of the Vegas brand has changed, Vegas will never lose the ‘’ sin city ‘’ label. Important aspects of the core brand are consistent; old and new customers attest to a Vegas experience that includes a degree of naughtiness. Different
Words: 831 - Pages: 4
individual product branding, family branding, co-branding, private or store branding, no-name or generic branding, brand licensing. First of all, individual product branding doesn’t fit because it means that the product has its own brand that differs from other brands of the company. This approach requires a lot of marketing efforts. Family branding supposes placing new products under the umbrella of an existing brand. We can’t choose this approach either because the company has no long history, it
Words: 945 - Pages: 4
A successful brand is the most valuable resource a company has. In fact, one authority speculates that brands are so valuable that companies will soon include a “statement of value” addendum to their balance sheets to include intangibles such as the value oftheir brands. Brands are used as external cues to taste, design, qualify, prestige, value and so forth. In other words, consumers associate the value of a product with the brand. For example, the value of Kodak, Sony, Coca-cola, Toyota and Marlboro
Words: 2233 - Pages: 9
discuss the topic ‘Growing your brand’ in relation to developing and growing a new product. In his book Essentials of Marketing Jim Blythe defines branding as a manufactures way of adding value and differentiating a product from others on the market by using promotion, packaging, positioning in customer’s minds and brand names Blythe (2008). DeChernatony and McDonald (1998) go on to say the success of a brand results from its ability to sustain and maintain those added values in the face of competition
Words: 404 - Pages: 2
