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Strategy
Definition
The American Marketing Associations definition
Primarily,
brands
and
branding.
A
brand
is
a
distinguishing name or symbol designed to
identify the origins of a product or service from
the competition and protect the consumer and
producer from competitors who would attempt
to provide similar products.
Branding, on the other hand, is the process of
creating an association between a symbol,
object, emotion, perception, product or
company with the goal of driving loyalty and
creating differentiation.
Kotler and Keller (2006:275) are of the opinion that the worlds
strongest brands share the following 10 attributes:
The brand excels at delivering the benefit consumers truly
desire.
The brand stays relevant.
The pricing strategy is based on consumer perceptions of value.
The brand is properly positioned.
The brand is consistent.
The brand portfolio and hierarchy make sense.
The brand makes use of and co-ordinates a full repertoire of
marketing activities to build equity.
The brand managers understand what the brand means to the
consumers.
The brand gives proper, sustained support.
The company monitors sources of brand equity.
with many products to choose from, brands assist in identifying one product from
another. Brands encompass expectations that consumers have when purchasing
the brand.
Communicates features and benefits. When making a purchasing decision, the
brand and packaging play a role in assisting the consumer to determine whether
it is the appropriate product, delivering functional and psychological benefits
sought.
Helps produce evaluation. A buyer can recognize and recall if the product has
the brand and the manufacturer with whom they associate a certain quality level
with.
Creates interest and character for the products identity.
Brand elements
Keller (2003:119) is of the opinion that creating a
recalled)
Meaningfulness (descriptive, persuasive)
Likeability (fun and interesting, rich verbal
Kotler
Bibliography
http://upetd.up.ac.za/thesis/submitted/etd-
10082008103031/unrestricted/dissertation.pdf