ch 7 mktg 3325

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Importance of Brand
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Terms in this set (18)
Effectively communicates your distinctive value
Is relevant to the customer
Resonates with the customer
Reinforces the intended position in the marketplace
Is consistent and unifying
Serves as an umbrella for current/future brands
Allows for building of strong brand equity
Enables you to command premium pricing
Is easily understood by your customers and employees
Can be sustained over time
Hybrid BrandingMicrosoft Windows Xbox Microsoft Surface ProAdvantages/DisadvantagesSame advantages and disadvantages that come with Branded House and House of Brand strategies Careful brand management will be crucialBrand Equity DefinedThe value added by the brand to the product The positive differential effect of brand awareness and brand meaning by customers The added value a brand provides to a product beyond its functional benefitsCreating Brand EquityIdentity Meaning Response RelationshipIdentityBuild brand awarenessMeaningCommunicate brand meansResponseShape customer thoughts and feelingsRelationshipBuild deep bond with customers