INDIVIDUAL PRODUCT DECISION
1.Quality
Product
Attributes
3.Design
2.Features
and style
Branding
1.Definition
3.Brand
Development
2.Types of
Brand
4.Impotance
of Branding
1. Definition
• Brand def: name, term, sign, symbol, design or
combination all of these to differentiate from
those of competitors
• Brand equity def: The value of brand: high
brand loyalty, name awareness, preceived
quality, strong brand associations, other assets
2. Types of Brand
• Manufacturer’s Brands vs Private Brands
– Have long dominated the retails scene
– Increasing number of retailers and wholesalers created their
private brands
– Battle of brands between manufacturers and private brands
– Retailers(private) gain more advantages
• Licensed Brand
– License names symbols previously created by other
manufacture
• Co-branding
– 2 different companies on the same product
Co-Branding advantages
Co-Branding limitation
- Create broader consumer
- Involve complex legal
appeal and greater brand
contracts and license
equity
- Must carefully coordinate
their advertising, sales,
- Allows company to expand
its existing brand
promotion, other marketing
efforts
- Can avoid difficulty entering
business marketing alone
- Trust each other
3.Brand Development
• Line extension
– Company introduces additional items in given
product category but under the same brand name
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New forms
Colors
Sizes forms
Ingredients or flavors
Low cost, low risk
Risk: lost its specific meaning
• Brand Extensions
– Def: extending an existing brand name to new
product category
– Risk :
• Meet early deaths
• Confuse the image of the main brand
• If it fails, may harm consumer attitudes toward other
product that carrying the same brand name
• Not be appropriate to a particular new product.
Company should research how well the brand’s
associations fit the new product
• Multibrands
– Introduce additional...