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Describe marketing uses of branding. A brand is a name, term or symbol that identifies and differentiates a firm's products. For example, MGM is the brand name of the Metro-Goldwyn-Mayer Movie Studio. Its brand mark is the MGM lion, which also has a trademark roar.
Implementing branding strategies results in several benefits. Successful branding creates equity in the brand.
Think of it like building monetary value from a good reputation. Established brands also encourage customer loyalty to existing products. Brand recognition can help new products succeed.
For example, a new type of iPod, say the shuffle, will be more successful because it is tied to Apple's highly recognized and valuable iPod brand. Branding strategies require several decisions. First, a marketer must decide whether to produce a generic product, a branded product or a trademarked product.
If the marketer chooses to brand the product, then the marketer chooses between becoming a manufacturer's brand, like Kraft Mac & Cheese, or a private brand, like Kroger Mac & Cheese. Manufacturers must decide whether to brand their products individually, as a family or use a combination of the two strategies.
Assignment : Goods and Services Marketing
The success of a product or a company in the marketplace is highly dependent on the target markets ability to distinguish a given product from another. One way this is accomplished is through branding.
When it comes to branding, companies must make complex decisions that
will have a prolonged effect on the perception of the product and company in the marketplace.
In this discussion, you will discuss product placements based on brand name marketing in the film industry.
Scenario:
Product placement deals have been a common practice in the film industry for quite some time, but the focus on placing popular brands in movies and television shows was never as important as it is toda
To execute this Discussion, watch one of your favorite television shows or a recent popular movie and discover a brand of a product that is featured in the plot of the story. Pay close attention, sometimes it can be tricky to identify a popular brand being featured if your mind is not consciously looking for it.
Checklist: In 250 words or more, answer the following questions:
1. Identify the television show or recent movie you watched, and introduce the brand of a consumer product that you found was featured in the plot of the story.
2. Discuss the type of consumer product (convenience, shopping, specialty, unsought) you identified in the plot of the story. Explain your answer.
3. Discuss how the television show or movie increases or decreases the brand equity of the product.
4. Describe the brand strategy of the product you identified within the plot of the story.