Welcome to Marketing Management

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Presentation transcript:

Welcome to Marketing Management Dr. Cecilia Ruvalcaba BUSI 107 Week 8, Day 1

Dolce & Gabbana: The Slave Sandal http://hellobeautiful.com/2016/03/04/dolce-and-gabbana-create-colorful-slave-sandal/

Products & brands

Brands Brand Image Perceptions about a brand as reflected by brand associations that consumers hold in their memories. Brand Equity The total value that accrues to a product as a result of a company’s cumulative investments in the marketing of the brand. “Your brand is what other people say about you when you’re not in the room.” -Jeff Bezos (Amazon)

McGraw-Hill Companies, Inc. What Makes a Brand? McGraw-Hill Companies, Inc. Logos and symbols Characters URLs www.eBay.com Slogans ©M. Hruby. Branding Nationwide- Peyton Manning http://www.ispot.tv/ad/7Mhd/nationwide-insurance-jingle-featuring-peyton-manning Brand name Jingles/Sounds “Law & Order”

Value in Branding Forbes 2015 list Facilitate Purchasing Establish Loyalty Protect from Competition Are Assets Impact Market Value http://www.forbes.com/powerful-brands/list/#tab:rank Forbes 2015 list

Brand Equity Benefits Greater loyalty Less vulnerability to marketing actions or crises Larger margins More inelastic consumer response to price increases More elastic consumer response to price decreases Increased marketing communication effectiveness

Brand Equity Brand Awareness Perceived Value Brand Association Brand Loyalty

Take Away for Today Understanding your brand. What is your brand? What are people saying about your brand? Brand Equity The smallest detail can be a significant contributor

Next Class Chapter 11: Product, Branding, and Packaging Decisions & Chapter 12: Developing New Products cont… Extended Outline due Friday 3/11