PLC & Branding.

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Presentation transcript:

PLC & Branding

Pop Quiz! In which stage of the Product Life Cycle (PLC) are aggregate industry sales & profits at their lowest? Introduction Growth Maturity Decline

Pop Quiz! In which stage of the Product Life Cycle (PLC) is the promotions goal to increase awareness and stimulate trial? Introduction Growth Maturity Decline

Pop Quiz! What outcome is best evidence of successful marketing strategies in the introduction stage? A popular television commercial Post-purchase satisfaction Brand loyalty Product trial

Pop Quiz! Which of these ads is most likely to stimulate primary demand?

Pop Quiz! Which of these ads is most likely to stimulate secondary or selective demand?

Pop Quiz! Which of these ads is most appropriate for the maturity stage of the PLC?

Pop Quiz! In which stage of the PLC do aggregate industry sales rise at the fastest rate? Introduction Growth Maturity Decline

Pop Quiz! In which stage of the PLC do aggregate industry sales drop at the fastest rate? Introduction Growth Maturity Decline

Pop Quiz! What outcome is best evidence of successful marketing strategies in the growth stage? A popular television commercial Post-purchase satisfaction Brand loyalty Product trial

Brand Personality Defined as a set of human personality characteristics associated with a brand name Consumers choose brands that are consistent with their own or desired self-image

Brand Equity Defined as the added value a brand name gives to a product beyond its functional value Doesn’t just happen – it is carefully crafted and nurtured by marketing programs “forge strong, favorable and unique customer associations” and experiences with a brand.

Brand Equity In-class Exercise – What is your brand? (worth 10 pts.) Identify the PLC stage that your product is in. Which is more important – stimulate primary or selective demand? What personality traits should be associated with your brand in order for your target market to find it relevant? Sketch out an advertisement or describe an event where the brand personality is expressed.