Briefly explain the differences between a product and a brand
What will be an ideal response?
Consumers view a product and a brand differently. A product is something produced in a factory, but a brand is created through marketing communications and experience. Competitors can easily reproduce a product, but they cannot copy a unique brand. Product is a generic term, but customers associate personality and values with a brand. While a product may become outdated, a successful and well-managed brand can be timeless.
You might also like to view...
Apple's partnerships with car manufacturers to ensure that the car stereo system is compatible with its iPod music devices is an example of
a. relationship marketing. b. a vertical partnership. c. a complementary alliance. d. a merger. e. early supplier involvement.
For the lot-sizing technique known as lot-for-lot to be appropriate:
A) future demand should be known for several weeks. B) setup cost should be relatively small. C) annual volume should be rather low. D) item unit cost should be relatively small. E) the independent demand rate should be very stable.