Friday, February 22, 2013

Product Concepts

As discussed in chapter 10 of the book, there are many ways for a company to "brand" a product to the market. The most common way would be individual branding which would mean using different brand names for different products, but within the same company. For example Nike makes several different sneakers under different brand names such as, Nike Air Force, Nike Air Max, and Nike Air Huarache. There is also family branding in which a company markets several different products under the same brand name, example being Apple which uses its brand and logo to help consumers find its product easier. The last branding strategy would be co-branding, when two or more brand names are on a single product. An example of co-branding would be a box of Betty Crockers brownie mix, which markets that every box conatains hershey's chocolate syrup.

Which of the three discussed forms of branding would be the most successful in a target market for Generation Y's?

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