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What is a brand? Why is it important to know your customer when creating a brand? What are the benefits of a strong brand? Consider one of your favorite brands of food; what makes that brand different? What does the brand mean to you?
Pick a brand. Attempt to identify its sources of brand equity. Assess its level of brand awareness and the strength, favorability, and uniqueness of its associations. Which brands do you have the most resonance with? Why? Can you find a large global brand that also seems to have a fiercely loyal following? Define its target segment, in terms of demographics, lifestyle, and customer benefits. Is it a mainstream brand in all markets?Discuss how brand equity can suffer when the brand expands its reach. Any examples? Any counterexamples, where extending reach increases equity?
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