Chapter 12 Developing and Managing Brand and Product Categories. Objectives. Explain the benefits of category and brand management. Identify the different types of brands. Explain the strategic value of brand equity.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Knowledge refers to the extent of customers’ awareness of the brand and understanding of what a good or service stands for.
Relevance refers to the real and perceived appropriateness of the brand to a big consumer segment.
Esteem is a combination of perceived quality and consumer perceptions about the growing or declining popularity of a brand.
Differentiation refers to a brand’s ability to stand apart from competitors
begins with ideas from any source.
Separates ideas with commercial potential from those that cannot meet company objectives.
consists of assessing the new product’s potential market, growth rate, and likely competitive strengths.
The conversion process is the joint responsibility of the firm’s development engineers.
Purpose is to verify that the product will perform well in a real-life business environment.
Commercialization--it is ready for full-scale marketing. Can expose the firm to substantial expenses.