Warm-up Which brands do you feel Obama supporters identify with the most? Which brands do your feel Romney supporters identify with the most?

Warm-up• Which brands do you feel Obama supporters

identify with the most?• Which brands do your feel Romney supporters

identify with the most?

Targets

• I can explain how the value of a brand is determined.

• I can describe the functions of packaging.

Brand

A name, symbol or design the identifies the goods of one seller and distinguishes them competitors. • Brand elements:– Logo– Slogan– Key Colors– Front

Trademark

A brand that has been given exclusive legal protection for the name and design.

Brand Equity

Brand Equity

Brand Loyalty

Name Awareness

Perceived Quality

Brand Associations

Brand Loyalty

• The degree to which customers are satisfied, like the brand, and are committed to further purchase.

Brand Awareness

• How quickly or easily a given brand name comes to mind when a product category is mentioned.

Brand Associations

The linking of a brand to other favorable images.

Brand Extension

Using an existing brand name on a new product in a different category.• New product must be inline with brand image

Brand Licensing

Leasing a brand name to a company other than the owner of the brand.

Line Extension

The use of an established product’s brand name for a new item in the same product category.

The Importance of Packaging

Package Functions:1. Protect during storage, handling and prevent

theft2. Attract buyers attention3. Provide consumer information4. Explain benefits5. Give some indication of price, value, and uses.6. Protect environment

Atypical Brand: Selling Ice-Cubes to Eskimos