University:
Columbia University
Course:
UN 1105 | Principles of Economics
Academic year:

2023
Views:

241

Pages:

2
Author:

Adam B.

branding, packaging, labeling parts that identify a product. branding packaging labeling- names. sumbols, brand- a name, term, sumbol, clesign makes the product stick out. tupes of brands - manufacturer brand brand thats owned - Sold Du their manufacturer brand Store for private's brand-brand that is owned by a individual wholesaler or retaller generic product for generic brand) product With no brand at all.. benifits of branding -easily recognizable -helps consumers percive quality loyalty -introduce new products alds in promotional efforts - provides equity (financial valve associated with a brands strength; branding strategies -usea by a company to identify the preference by their consumers •two pranding strategies firms use Inaivdual branding firms uses a alfferent brand for each of its products - family branding uses the same brand for all or more of its products packaging the wrapping of the material, to identifu, protect, display, promote. consideration when packages -cost. Weight, size single or multiple units - attract - environmental responsibility ensure packaging is informative criticisms of packa difficutt - functional problems. to open, breakage, Inconvenience -Safiey-tampering. Sharp edges, breakable glass nealth nazards of plastic aerosol containers - deception-shape, design, colors may alter appearance of Size confusing size designations -cost-packaging costs passed on to consumers labeling -Key feature in marketing -label piece of paper, plastic film, cloth, metal products pricing pr -all buuers nave a different perception of price wherei • some buuers will accept different ranges for prices for different products price competition- setting a price equal to or lower than competitor prices - non-price competition Dased on factors other than price