Branding

steps in branding

1. Brand positioning (PRODUCT ATTRIBUTES BENEFITS, BELIEFS)

2. Braaand name selection

3. Brand sponsorship (licensing, branding, etc.)

4. Brand development

Co-branding

tw companies work together (united airlines and credit cards)

line extension

Exisiting brand and existing category (Diet Coke, Coke, coke cherry)

Multibrand

new brand, existing category

New brand

new brand new category

Brand extension

existing brand, new product

Acquisition

acquiring a new company license or product as a whole from someone

Methods of new products

Tiruly innovative, replacement, Imitation of rivals, and new delivery method

IDEAS

Idea generation → idea screening → concept development testing (concept is detailed and stated in consumer terms) → marketing strategy → Business analysis (reviews cost profit and projection to keep in check) → product development (make and test to R&D) → commercialization (enters market)

Marketing Strategy Statement

Descrption of target market, prdouct positioning, sales, market share, profit goals, price distribution, budget, long-term sales, marketing mix