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Cards In This Set
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What is the main idea of this article and who was it developed by?
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Successful corporations must produce brands opposed to products - management theorists
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Until this new idea popped out, what did the corporates believe was important?
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Believed that production of goods is more important than the branding.
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Which brands were the first new kinds of corporation and their 3 factors?
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Nike, Microsoft, Tommy Hilfiger, Intel1) products were made overseas2) produced images of their brands and NOT products3) believed marketing was more important than manufacturing
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3 dimensions of today's best known manufacturers
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1) Buys & Brand > Produce product & advertise2) Strengthening their brad name3) Requires creativity & thought (very different to the skills needed in producing products)
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How did branding solve a problem in corporations?
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- the existence of the same mass-produced goods-branding = necessity to distinguish one from another-image based difference = important
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Steps of Branding
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1) present proper names on generic goods2) create corporate logos that evokes familiarity and folksiness to these new goods (emotional attachments)
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Corporate Consciousness
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Brand identity
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Brand essence
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True meaning of brands -started to focus on the psychological/anthropological examination of what brands mean to the culture & people's lives
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Brand's death
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When branding wasn't selling much and wasn't grabbing peoples attention.
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Consumerist society
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-contemporary society that we live in today-our lives/identity is connected to the products we consume
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What did companies try to do when brand's death occurred?
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Marketers had to keep coming up with new inventions to present brands. ex. putting fragrances on products
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Marlboro Friday
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Philip Morris announced a 20% cut on Marlboro cigarettes to fight back against generic competitors.
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Did Marlboro Friday only affect Marlboro?
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No, other companies started thinking that they were in danger too. If a prestige brand like MARLBORO that spent time carefully polishing and preening their image and spending lots of money was desperate to beat generics = the concept of branding was losing its value.
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Brand Blindness
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Questioning the power of brand valuewhat the society was suffering from
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Brand enhancing advertising
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Spent less money of advertising - for top 100 brands their spending went down 5.5 %Instead, spent money on giveaways, contests and priced reductions
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