Untitled Quiz

Organizational Benefits of Brands

• Brand extension potential reduces establishment costs by 36% and increases potential for success with new revenue.
• Brands increase financial valuation through market value based on intangible assets.

HRM Benefits of Brands

• Brands lead to lower costs of acquisition, decreased salary, improved performance, and increased retention.

Virtuous Cycle of Branding

• Brands result in higher margins, risk management, inelastic demand, and customer retention.
• Brands also lead to brand extension potential, self-enhancement, self-expression, equity in channels, financial valuation, efficiency of MARCOMs, market orientation, and strategic focus.

Customer Benefits of Brands

• Brands provide risk reduction, information efficiency, and image benefits to customers.
• Self-enhancement and self-expression are also key benefits of brands for customers.

Brand Loyalty and Customer Retention

• Brand loyalty is the engine of customer lifetime value.
• Market share is an outdated paradigm, and WoM (word of mouth) is important for customer loyalty.

Course Framework for Marketing

• The marketing framework includes product, segmentation, targeting, positioning, promotion, and place.
• Marketing research, consumer behavior, and marketing strategy are also essential components.

Branding and Brand Equity

• Brands have benefits for both buyers and sellers.
• Brand equity and brand strategies are crucial for marketing success.