Marketing Essentials

Section 1: Branding Elements and Strategies

After You Read Online Action

Key Terms and Concepts

1. A brand name or product brand is the word, group of words, letters, or numbers representing a brand that can be spoken. A trade name or corporate brand identifies the company or company division.
2. Three types of brands: national (consumer product, service, and Internet), private distributor, and generic.
3. Four types of branding strategies include brand extension, brand licensing, mixed brands, and co-branding.

Academic Skills

4. 2.751 times as large; $54.2 ÷ $19.7 = 2.751
5. Students should be able to state that large companies have traditionally attempted to build brand equity in different countries by addressing advertising and promotions based upon the unique culture of the country. However, with the rise of a global economy, many companies see the advantage of having a single brand.