Page 115 - BA1 Integrated Workbook STUDENT 2018

Customers, suppliers and supply chains

Relationship marketing

Transaction marketing Relationship marketing

Concentrates on products Concentrates on customer retention
and loyalty

Focus on product quality Emphasis on quality of service

No effort to retain customers Focus on building long-term
relationships

Branding

A brand is typically made up of a name and/or logo, a colour scheme and
brand associations.

Brand strategies (as per Kotler) include:

 line extensions – an existing brand is applied to new products within
the same product category

 brand extensions – an existing brand is applied to products in a
new product category

 multibrands – having many different brands in the same product
category

 new brands – new brands are created for new products and/or
markets

 cobrands – two or more brands are combined in an offer so the
brands reinforce one another.

107