marketing

why MARKET? Marketing has two Fundamental roles: To sell what a business makes & To manage a business’s brands

Our discussion today will all be about branding

branding American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or a combination of these, intended to identify the goods and services of one seller (or group) and to differentiate them from those of a competitor.” Brands have been around since the earliest days of marketing. (we’ll look at some examples) Brands are valuable in a modern marketing strategy

An identifiable entity that makes a specific promise of value A brand is a name, term, design, symbol or other feature that distinguishes products and services from competitive offerings. A brand represents the consumer’s experience with an organization, product, or service. An identifiable entity that makes a specific promise of value Something which creates a specific reference to certain products in consumers’ minds

brand identification Everything associated with that product should carry the identification Keep it consistent (i.e. font, colour, package design) Avoid a guessing game with customers

Who can identify the top 10 brand names?

3 types of logos Iconic / Symbolic Logotype / Wordmark Combination Marks

Logo Evolution Do you know of any logos that have CHANGED over the course of time? http://www.hongkiat.com/blog/logo-evolution/

Categories of Brands Bastion -- provide most of the profit (often premium price, high-performance brands) Flanker -- high-performance, but appeals to a different, smaller market segment (niche) Fighter -- sold at lower price, lower quality perception Prestige -- high-quality, luxurious, targeted at smaller segment looking for status

Pantene Head & Shoulders Toyota Lexus Marlboro Great Value bastion flanker Toyota Lexus prestige Marlboro Great Value fighter

The Four Ps of Marketing marketing concepts The Four Ps of Marketing Products (and Services) Quality, Design, Features, Benefits, Product/Service Mix Price Place (Channels of Distribution) Promotion Production