1. In your own words, provide a clear explanation of brand equity and why it is or it is not always advisable to create brand equity. Present a good or service that has little or no brand equity. Why do you think that product has low brand equity? Is it the nature of the product or a poor marketing strategy? Defend your position.
2. Explain how distribution channel strategies have been used to create or contribute to a competitive advantage. Provide original examples not taken from the course materials. Feel free to provide examples drawn from either goods or services products, and profit or non-profit organizations.
3. Select a product or service that you utilize at least once a month.
1) Describe the product or service briefly,
2) If you were determining the price, what price would you set and why?
3) What type of promotion do you think would be most effective and why?
4. What are fair trade laws? Why were they repealed? Should manufacturers be allowed to force the retailers that carry their products to sell the manufacturers' products at the prices specified by the manufacturers? What is 'resale price maintenance?' What will be the benefits to Manufacturers, Retailers, and Buyers if manufacturers are allowed to force retailers to sell the manufacturers' products at the prices specified by the manufacturers?
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Brand equity is the value of a brand based on its positive values and the price people are willing to pay for the brand. Brands such as Tide, have high brand equity because of the quality of their products on a consistent basis. Brands such as Ford, have high brand equity because they are quality vehicles and use innovation effectively. Brands with brand equity usually have positive public perception. One of the reasons to not create brand equity is because the brand becomes a target for other competitors. McDonald's, with a brand equity of price, quality, service, convenience, and locations, is often a target for food competitors including those who are not considered "fast food." A product with little brand equity would be Duke's Mayonnaise. While it is popular and well known in some areas of the country, it does not have a great following. One reason is its market is in the South and it is not heavily advertised. It is also less expensive and might be considered as a lesser ...
This solution explains the given marketing questions including a clear explanation of brand equity.