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Branding - Consumer Behavior
Transcript of Branding - Consumer Behavior
Lauren Gray the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination, etc. What will you be known for?
brand identity. target audience. "fitting in"
buying the popular brands
buying what is new
having the latest things brand loyalty. target market's interpretation of the product's attributes, benefits, usage situations, users and manufacturer/marketer characteristics. Basically what people think of and feel
when they hear or see a brand name. what have you learned about a company company image
vs. store image Brand names provide an
anchor to which consumers
can attach meaning. Product Positioning how a market segment thinks and feels in a
certain way about a brand over other
competing brands. long term success of a brand. Product Repositioning deliberate decision to
significantly alter the
way the market views a product
can be very difficult and very costly. Example: Dominos Dominos image change. brand equity value consumers assign to a brand
above and beyond the functional
characteristics of the product. reputation of the brand.
price you are willing to pay.
brand leverage marketers capitalizing on brand
equity by using an existing brand
name for new products. http://www.starbucks.com/