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the tendency for people to strongly prefer avoiding losses than acquiring gains. The same change in price framed differently has a significant effect on consumer behavior.
[1/2 off or 2 for 1] |
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| statistical technique used in market research to determine how people value different features that make up an individual product or service. A controlled set of potential products or services is shown to respondents and by analyzing how they make preferences between these products, the implicit valuation of the individual elements making up the product or service can be determined. |
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| the relative prices for two identical factors of production in the same market will eventually equal each other because of competition. |
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| Also referred to as PPE (property, plant, and equipment), or tangible assets, these are purchased for continued and long-term use in earning profit in a business. This group includes land, buildings, machinery, furniture, tools, and certain wasting resources e.g., timberland and minerals. |
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| items that lack physical substance and usually are very hard to evaluate. They include patents, copyrights, franchises, goodwill, trademarks, trade names, etc. |
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| the structure of brands within an organizational entity. It is the way in which the brands within a company’s portfolio are related to, and differentiated from, one another. |
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| A company introduces a brand line extension by using an established product’s brand name to launch a new, slightly different item in the same product category. For example, Diet Coke™ is a line extension of the parent brand Coke™ |
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| 'positioning path' over time that a new brand should proceed along to reach its long-term desired position. |
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when companies have multiple products and services, each of which may have its own brand (trademark, service mark), or form part of a "family of brands." They may be common law marks, or registered under statutes in various countries and states. The total collection of these rights is called the "brand portfolio."
Click here to find out more!
[Ford owned Land Rover for example] |
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When a brand name is used for all products. By building customer trust and loyalty to the family brand name, all products that use the brand can benefit.
Good examples include brands in the food industry, including Kellogg’s, Heinz and Del Monte.
The use of a family brand can also create problems if one of the products gets bad publicity or is a failure in a market. This can damage the reputation of a whole range of brands. |
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An individual brand name does not identify a brand with a particular company.
For example, take the case of Heinz. Heinz also operates many well-known individual brand names. Examples include Farleys (baby food), Linda MacCartney Foods (vegetarian meals) and Weight Watcher’s Foods (diet/slimming meals and supplements).
There are several reasons why a brand needs a separate identity – unrelated to the family brand name:
• The product may be competing in a new market segment where failure could harm the main family brand name
• The family brand name may be positioned inappropriately for the target market segment. For example the family brand name might be positioned as an upmarket brand for affluent consumers.
• The brand may have been acquired; in other words it has already established itself as a leading brand in the market segment. The fact that it has been acquired by a company with a strong family brand name does not mean that the acquired brand has to be changed. |
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Corporate credibility deals with the reputation of the company whose products are represented by advertising.
Corporate credibility or lack thereof is established in much the same way as endorser credibility-through an evaluation of the trustworthiness, expertness and likeability of the corporation. To establish this, an audience member makes judgments about what he or she knows about a company and what it does and has done in the past.
[Black people stopped buying Tommy Hilfiger when they thought he said something racist] |
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the marketing of products that are PRESUMED / PERCEIVED to be environmentally safe.
[ like cotton :-P ] |
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| For example Procter & Gamble’s Pampers or Henkel’s Persil. The individual sub-brands are offered to consumers, and the parent brand gets little or no prominence. |
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| Procter & Gamble for example. They are the parent brand for Oral-B, Tide, Febreze, Bounce, etc. |
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Relaunching historical brands with updated features.
[The new beetle, Star Wars Episode I] |
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An orphan brand is a branded product that at one time was popular, but over time has lost sales, and therefore lost value in the marketplace. The brand becomes less important to the original brand owner, and they choose to sell it to another company who attempts to inject new life in the product.
Are famous or one-time famous brands that were gobbled up by conglomerates and then when their conglomerate was gobbled up by a bigger conglomerate. |
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