Any marketing actions a firm takes today can change consumer’s brand awareness or brand image and have an indirect effect on the success of future marketing activities. For example; the frequent use of temporary price decreases as sales promotions may create or strengthen a “discount” association to the bran, with potentially adverse implications on customer loyalty and responses to future price changes or non-price-oriente marketing communication efforts. Marketers must actively manage brand

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New products and brand extensions: 

New products are often vital to the long run success of a firm. When a firm introduces a new product, it has three choices for branding it: 

  1. It can develop a new brand, individually chosen for the new product. 

  2. It can apply one of its existing brands. 

  3. It can use a combination of a new brand and an existing brand. 

A brand extension occurs when a firm uses an established brand name to introduce a new product. When a new brand is combined with an existing brand,

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Developing a brand architecture strategy: 

Support mkrs to determine which products and services to introduce, and which brand names, logos, symbols to apply to new and existing products. 

The main roles are: 

-To clarify brand awareness: Improve customer understanding.

-To improve brand image: Maximize transfer of equity

3 step process to develop an effective brand architecture strategy: To successfully execute a brand architecture strategy, marketers should use brand portfolio analysis for step

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Objective of creativity

  • To enhance creative potential by strengthening various mental abilities and shape an ordinary learner to become an extraordinary learner.
  • To expose the learners to creative problem solving exercises by developing integrative intelligence to become managers with creative skills.
  • To help the learners to become thoughtful managers by understanding workplace creativity and ways of harnessing (tie together) it for organizational excellence
  • To expand the
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  • Standard deviation:  average measure from data and mean (square root of  variance).How far the data is on average from the mean.

    • Solve: Find the variance and take the square root of it.

  • Coefficient of Variation: standard deviation of two sets of data. Shown as as a percentage and measures the variation side by side with the mean

    • Solve:: CV = standard deviation/ mean * 100

  • Counting numbers is discrete

Center and Variability:

  • Descriptive Measures: a single number thats comes from the sample data  

  • Central

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1.   What does the price elasticity of demand measure?


a consumer’s sensitivity to a price change

REF:   Determinants of the Price Elasticity of Demand

  2.       From the accompanying table, we would expect that, for recreational skaters, the price elasticity of demand for ice skates between $10 and $20 to be ________ than that of hockey players because ________.

Price of Ice Skates

Quantity Demanded (hockey players)

Quantity Demanded (recreational skaters)














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