Branding & Brand Personality
A company uses one name for all of its products.
What is Multiproduct Branding
The four factors of packaging and labelling.
What is consolidation, protection, information, and brand identification?
When considering the People portion of the 7 P's of services, they are the most important people to market to.
What is internal marketing (people in your own company).
A pricing strategy where prices are first set a high initial price and lower it later
What is Price Skimming
In this stage, the marketing objective is to gain awareness, there is little competition, and the promotion focuses on information and education.
What is the introduction stage?
Most successful logos are this shape
What is a circle
Tide Pods have difficult openings because there was a craze where people thought they had to eat them. This is an example of which factor of packaging?
What is protection?
These are the 7Ps of Service Marketing.
What is Product (Service), Price, Place (Distribution), Promotion, People, Physical Evidence, Process
When two or more products are in a single “package” price
This stage includes dropping a product from a product line because it is unsuccessful.
What is deletion (would also accept decline/decision point)
When a company manufactures a product but sells them under the brand name of a wholesaler or retailer. Ex. Loblaw’s – President’s choice.
What is Private Branding?
An example if when Apple began packaging all its products in sleek silver boxes, so did Google.
Copycat packaging
This aspect of SERVQUAL is the appearance of physical facilities, equipment, personnel, and communications materials.
What is tangibles?
When a company intentionally advertises a lower price than is charged at checkout.
What is deceptive marketing?
This non-traditional cycle features a product which is extremely popular for a very brief period of time, and loses popularity just as quickly.
What is a fad
"I'm lovin' it" is an example of this.
What is a slogan
These two types of information go on labels.
What is information for the consumer and information for the retailer?
An example of this factor of services is when Mr. Pizzuto gets a haircut at Sports Cuts and loves it, but then he asks for the same hair cut at Magic Cuts and he doesn't like it as much.
What is inconsistency?
Drake and Kendrick price their new collaborative album on Spotify at $6.67 instead of $7.00
What is Odd-Even Pricing
This stage focuses on differentiation, there are more versions of the product added, features aggressive pricing to remain competitive, and promotes the differences between the product and its competition.
What is the growth stage.
When two or more independent brands come together on a single product or service like Oreo and McDonald's McFlurry
What is Co Branding
Logan Paul decides to change his traditional Prime Bottles to recycled plastic.
What is environmental concerns?
This part of SERVQUAL is about knowing your costumers and understanding their needs. It looks at the approachability and availability of the service.
What is empathy?
Setting a high price to attract quality or status conscious consumers ex. Swiss watches, Rolls Royce
What is Prestige Pricing
This stage is characterized by the slowing of total industry sales, and the marketing objective is to maintain brand loyalty.
What is the maturity stage