Warm-up Which brands do you feel Obama supporters identify with the most? Which brands do your feel Romney supporters identify with the most?

Targets I can explain how the value of a brand is determined. I can describe the functions of packaging.

Brand A name, symbol or design the identifies the goods of one seller and distinguishes them competitors. Brand elements: – Logo – Slogan – Key Colors – Front

Trademark A brand that has been given exclusive legal protection for the name and design.

Brand Equity Brand Loyalty Name Awareness Perceived Quality Brand Associations

Brand Loyalty The degree to which customers are satisfied, like the brand, and are committed to further purchase.

Brand Awareness How quickly or easily a given brand name comes to mind when a product category is mentioned.

Brand Associations The linking of a brand to other favorable images.

Brand Extension Using an existing brand name on a new product in a different category. New product must be inline with brand image

Brand Licensing Leasing a brand name to a company other than the owner of the brand.

Line Extension The use of an established product’s brand name for a new item in the same product category.

The Importance of Packaging Package Functions: 1.Protect during storage, handling and prevent theft 2.Attract buyers attention 3.Provide consumer information 4.Explain benefits 5.Give some indication of price, value, and uses. 6.Protect environment

Atypical Brand: Selling Ice-Cubes to Eskimos