Marketing Concepts
- Augmented product:
What you get by adding services to a basic product, for example, industrial chemicals. One tank car of a given chemical contains exactly the same material as the next. A wise supplier included value-added services such as favorable leasing terms, precise delivery dates, and online order entry. This “augmented” product was clearly superior to the competition’s.
- Brand:
A product’s reputation, deserved or not. Branding turns commodities into premium products.
- Brand equity:
The value of a brand, a function of customer loyalty, reputation, and reach.
- Brand identity:
What your brand aspires to be.
- Brand image:
What consumers think of your brand.
- Buzz:
Term of art from Rosen’s The Anatomy of Buzz. The sum of all ...
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