May 312015
 

What are the internal factors to consider when making price decisions? The selection of a price for a product depends upon both internal factors and external factors. Internal factors relate to factors inside the organization itself, whereas external factors consider competition and consumer behavior in the marketplace. Internal factors that Read full article…

May 292015
 

Brand equity is a financial valuation of the firm’s brand contribution to profit. Most brand equity valuation firms – such as Millward Brown (as discussed in the link below) – look at brand equity on economic use basis. So what is an economic use basis? Economic use in the brand Read full article…

May 222015
 

Selecting a brand name One of the key decisions when bringing a new product to market, particularly if it is going to be under the umbrella of a new brand, is the brand name selection. There are two approaches to brand name selection. The first approach is to have a Read full article…

May 222015
 

Definition of a brand A brand can be defined as a name, sign, logo, or design of a product/ service or a firm designed to identify ownership and to differentiate the offering in the marketplace. What are brand elements? Most products and/or firms will have some sort of brand identity Read full article…

May 222015
 

 Product labeling decisions Product labels refers to the information attached to the packaging that helps describe the product in a little bit more detail. It is important to note that labeling is more information focused, as opposed to packaging itself (please refer to the separate article) which is more marketing Read full article…

May 222015
 

Packaging decisions in marketing When we think of packaging, we tend to think about packaging’s role of being recognized and attracting attention inside a store. While this is a key goal of packaging, there are actually many other goals of packaging which need to be considered within packaging design. These Read full article…

May 222015
 

In modern-day marketing, brand equity is generally highly sought-after. Brand equity can deliver financial benefits to the firm – primarily through greater market share, price premium, and increased customer loyalty. There are multiple decisions to be made however, when introducing a new product into the marketplace. This particular article provides Read full article…

May 212015
 
Product mix example

The overall product mix for a firm is the complete range of products that they offer in the marketplace. It is also sometimes referred to as their product assortment. There are multiple decisions to make in regards to an overall product mix for a company. Product mix decisions are quite Read full article…

May 212015
 
Product mix decisions

What is a product mix? A product mix is also referred to as a product assortment. It is the full range of products offered by a firm. As discussed in another article on this website, firms will have sets of products in what is known as a product line. Large Read full article…

May 212015
 

What is a product line? A product line can be defined as a set of products offered by a company that are similar in function and benefit. These sets of products are also usually sold through the same distribution channels to the same target market at a relatively similar price Read full article…

May 202015
 
Advertising awareness and recall metrics

Advertising awareness metrics In addition to measuring brand awareness, firms will often look to measure advertising awareness through a similar/same survey of the target market. This would be an extension of the questionnaire discussed in the article on brand awareness metrics. There are four main advertising awareness metrics that can Read full article…