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Ch 8.

Global Marketing

* ch 11 & 12 takes a lot of time

● There are 7.6 Billion people on the planet


● 330 M Americans; about 4.5% of world population
● 87.5 T = GWP gross world product
○ 20.4 T is USA GDP gross domestic product
○ 24% of world population lives in a DC = developed country
○ ^^^ the rest is third world, lots of potential for business
Growth of the Global Economy
○ Less protectionist economies
○ Success of regional market organizations
○ Saturated domestic markets
○ Greater interface bet. Economies
○ More global consumer??

Less Protectionist Economies


1. Fewer “closed” economies (than in the past) more countries opened for trading; WTO
World Trade Organization 164 members
a. WTO - Membership mandates not using tariffs; instead use NTBs: Non-Tariff
barriers such as ​Quotas​ (japanese brand mini vans-they build manufacturing
plants in the south of the US because cars couldn't be imported, they think out of
the box); ​Standard Ambiguity and Variations​; ​Currency Restrictions and
Repatriation Rules​ (Coca-cola and columbia pictures in the 80s)
2. Fewer Protectionist Countries… more open to trade 1987-1991
a. Communist countries 90s USSR PRC (China) Cuba North Korea 2016 Cuba,
North Korea, Venezuela, China
b. Previously protectionist countries like India 1991 - they needed a technology
transfer, tuk-tuks to tata nanos now

Success of Regional Markets


1. Economic Integration of Markets in various arrangements w/different degrees of
interactions ex. Common Market 1957 France, West Germany, Italy, Benelux countries
came together to be competitive in the global economy
a. Degrees of interaction:
b. Cooperative Agreement → ASEAN: loose arrangement buying from each other,
will primarily buy from each other over other options
c. Free Trade Agreement → NAFTA (now USMCA): move products across borders
but can’t move people and can’t move money just products
d. Common Market/Customs Union → Mercosur of S.America: move money and
products easily but not people
e. Economic Union → European Union: can move money, products, and people
f. Political Union → USSR and maybe the USA?: move extremely freely within one
central government; central government trumps all state governments

Saturated Domestic Markets


1. DC (Developed Country) = GDP per capita > $10,000
a. Triad the DCs: EU, North America, Japan/Korea
b. DCs need to expand to NICs - Newly Industrializing Countries GDP P.C.
$2,500-10,000
c. NICs have much faster growth since growing middle class
d. EX. houses only need one refrigerator at a time so have to expand to other
places; McDonalds is at saturation in America since too many; Auto Industry
13.6M cars sold in China, 11.6M cars sold annually USA, 18.1M in Europe;
Phone Adoption PRC 1046M, India 913M, USA 335M; Going from nothing to
WeChat is called Leap-frogging
e. BRICs: Brazil, Russia, India, China are large populations growing Middle Class
f. Crouching Tiger/Hidden Dragon India 1.38B and China 1.4B
g. LDCs: <$2,500 GDP per capita: less developed countries are markets for little
luxuries like nestle ice cream

Greater interface bet. Economy


1. International Finance with currency conversion
2. International travel: business, pleasure, study
3. International Communications: skype
4. International Entertainment: hollywood, bollywood

More Global Consumers?


● Consumers around the world use products in different ways
● ?Global? In some segments
○ Children
○ Teenagers
○ Duty-Free Set “business travelers”
● Sesame Street
● MTV

Environmental Scanning Globally: Global-Localization


● Global - big/standardize as much as possible
● Local - Small/adapt to country needs
● Word is an Oxymoron
● Apply environmental scanning
○ Add two more sections: Geography and History
Political and Legal
1. Political Stability and risk
2. Corruption - 1977 companies can not pay bribe anymore
3. Legal Code - Common Law (the Individual - ADA), Civil or Code Law (best legal code for
society - rome colonized countries), Islamic Law (Allah/The Koran), Communist Law (the
State)

Economic Factors
● Economic Infrastructure
● Saving vs. Spending norm
● GDP per capita: Gross Domestic Product/Population
● Buying Power PPP: purchase power parity

Technological Factors
● Level of “hardware” and “software”

Socio-Cultural Elements
● Values very deep-rooted: they do not change quickly… if ever
○ China - humans are insignificant to nature
○ Holland - lots of self portraits where person is exaggerated
● Language is a good indicator of cultural values: Verbal and Non-verbal Communications
○ Posture
● Cultural values are very different between cultures
○ Particularly in Hi-Touch Items: Food, Health & Beauty, and Personal Relations
■ These items need to be most localized
■ China eats lots of animals but no dairy
■ Bathing: japan they bathe to clean and socialize, turkish bath houses,
Brazilians take 12 showers a week
● Symbols make consumers appear similar
○ But at core values can be quite difficult
○ McDonalds

Growth Options: New Market vs New Product


● Ch. 9 is new market (domestic)
● Foreign Markets is New Market
● Foreign Market Entry Strategies
○ Export
■ (least risk least profit potential and easiest)
■ Use agents, brokers, freight forwarders (use FEDEX to export)
■ Firm-controlled exporting (you make product and you export it; good for
big companies like NESTLE and COKE)
■ Off-shore Sales and Marketing Office (product still made at home)
■ Off-shore Production: Subcontracting (not producing in America; hired
someone to make product for you eg. vietnam makes product and sends
to japan; ie. shoes, toys, clothes which are trendy, low-tech items),
(counterfeit goods can be lower quality overproduced goods from same
factory)
● FOXCONN - Apple subcontractor
● Apples uses FOXCONN because Profitability
● Apple iPad $499-$291 cost=$208 so 41.7%
● Unable to manufacture Apple screens not possible in the US
● Apple has >$245 Billion overshores Cash
● May pay $38 B tax bill now to repatriate cast
○ License/Franchise
■ (Moderate Risk... Moderate Profitability)
■ Qualcomm license platform/technology to samsung and apple
■ Franchising Production and Marketing and Management
■ Difference between license and franchise is hard or soft and hard
○ Joint Venture (JV)
■ Two companies come together in one place (common in developing
countries)
■ McDonald's joint ventureship with Sinopec (Chinese oil/gas) ONLY in
China since they have expertise in that country
○ Strategic Alliance
■ SIA: McDonalds and Coke everywhere; neither partner is from the host
country usually
■ Both have lots of shares of each other; have management swaps
■ Very intertwined and trusting (so SIA rarely occurs)
■ SIA: Nestle and General Mills; both are complementary
○ WOFE
■ (Most Risky… Greatest Profit Potential)
■ Wholly owned foreign enterprise or FDI, Foreign Direct Investment

Adapting Marketing Strategy to Foreign Market


● Globally, the firm has less ability to influence all 4 Ps
● Don't have control over Pricing and Placement
● Pricing
○ Regulations and Price Controls
○ Ie. French Subsidies
○ Cost differences in foreign markets particularly labor
○ Ie. German Min Wage 20, China is 38 cents
● Placement
○ Habits and norms
■ Germany has apotheken like a drugstore but only medication and can't
pick anything up by yourself
○ Regulations: Japan
■ Big and little store law; have a big store or little store nothing in between
○ Quality of existing channel members
■ Roads for mcdonalds in china
● You have control over Product and Promotion
● Product
○ Same Product (Duel Extension; Coca Cola is same only packaging differs;
iPads), Change Product (Product Adaptation; Exxon; Laundry Products front load
or top load; Pringle flavors shrimp and crab; product is changed but it is hard to
detect but positioning/promo is the same), Create New (Product Invention; Sony
transistor radio; Universal Flashlight)
● Promotion
○ Same Promo (Positioning Adaptation; Jagermeister is a before party drink in US
and after dinner drink in DE; KFC is for Christmas in Japan; Spicy Oreos in
China), Adapted Promo (Dual Adaptation; Georgia coffee in Japan is from Coke;
Electric Teapot in UK; Dish Sanitizer; Soup in Europe)

Chapter 9
1) Lots of Demand: McDonalds, Snuggie
2) Latent Demand: ahead of its time
a) Nissan-Tama Electric Car
b) Apple Newton Tablet - 1993 → iphone was patented 2007
c) Smokeless Cigarette Patent 1965 → smokeless cig in 2016
3) Negative Demand
a) Go out of your way to avoid product/service
b) 2016 Presidential Election - no one wanted either candidate
c) Need serious attitude adjustment; requires many resources
d) Disposable Diapers
i) 1960 - a good mother would not put her baby in paper
ii) 1980 - a good mother would not put her baby in a cloth diaper
iii) Ie. Huggies Kimberly Clark, Luvs and Pampers (P&G)
iv) 2014 - 10% of babies in cloth diapers
v) Depends
● Product Offering Options When Sufficient Demand
○ Mass Market - same market and product for everyone
■ Undifferentiated, new product, commodity
■ McDonalds in 1957 until the 60’s since they targeting kids
■ Tide Pods was latent demand - they don't target anyone but they are
used by young people who use public laundry
■ Milk is a commodity/generic
■ iPad 2011
○ Single product line - new market development , target one market
■ Single target market; “concentration” or multiple market segments
■ Pet Rock in 1975 - funny training manual
■ Wienerschnitzel
■ Guinness
■ Dr. Pepper
■ Airlines - united, singapore airlines, emirites
■ Starbucks for kids
○ Multiple product lines new products and new markets
■ Multiple market “differentiated”
■ L’Oreal
■ Consumer products Garnier, Maybelline, Soft Sheen, Lancome, Ralph
Lauren, Giorgio Armani, The Body Shop
○ Mass customization - every consumer gets their own market mix
■ Micro-marketing
■ Knee Replacement
■ Solar Turbine is customized
■ Build-A-Bear
■ Subway

STP: Segmentation, Targeting, Positioning


● S: divide into segments
○ Consumer characteristics
■ Geographic: original approach to segmentation often local preferences,
tastes ie. texmex food or tacobell; applies to products that are bulky,
cheap, parishable ie bottled waters are segmented by geography, bottle
at sources and ship locally; chips are bulky cheap and parishable; craft
beers
■ Geographic Segmentation is 1) Regional 2) Population Density
urban/suburban/rural areas 3) City Size; walmart strategy was mid sized
cities 40,000 → cities of 100,000
■ Demographic: a) gender - home furnishing market b) ethnicity - ms. cj
walker the first woman millionaire c) age and family life cycle d) residence
type (cable companies, IKEA, what type of home do you live in,
apartment, mansion) e) household size (1 person or 2 people;
single-serve portions for food; costco buying bulk) f) Cohort Analysis from
Ch.5 borrowed from politics; people born at the same time share
experiences such as music, celebrities, events; marketers learned from
Bill Clinton 1992 since he could relate to different generational cohorts
[silent generation (1930-1945), baby boomers subsegments are
woodstockers - they were reached with music (1946-55) or zoomers -
they were reached with tv themes (1956-63) (1946-1963), gen x - first
generation with separated families, the breakfast club, kurt colbain
(1964-1980), Gen Y/Millennials - digital natives, technology (1980-1997),
Gen Z/iGen/Tweens (1997+); Application of Cohorts who gets tattoos in
1935 (sailors), 1965 (others in the service), now (everyone), tattooed lady
was considered a freak in the 30s,
■ Psychographics - lifestyle
● AIO - attitudes, iternests, opinions - 1960s
● VALS - values, attitudes, lifestyles - 1980s
● Cant use these unless firm subscribes, it costs $$$$
○ Consumer usage and shopping behaviors (shop by yourself/ with others)
■ Consumer usage and shopping behaviors
■ Benefit Segmentation - segment by motivation for using the product
■ Ie. toothbrushes/toothpaste is sold based on benefit (whitening, sensitive,
tartar), movies (blind side, schindlers list), macaroni and cheese
(stouffer's vs. lean cuisine)
■ User Status - current or ex-user vs. non-user (Americans switch products
often, 1st time switcher, constant switcher, do you switch aaabbb or
ababab, brand loyalty is good since they become elaborators
■ User Rate - light/medium/heavy (80/20 rule - 20% use 80% of product)
● Occasion user - buying product for specific occasion
■ Placement Choice - online, direct sales
■ Application of product - how/with what is it used?

● T: select targets and entry sequence


○ Evaluate segments and determine sequence
○ You might select “low-hanging” fruit first to move up in market segment
○ 1) Segment Size - see current and growth potential
■ Vegetarian Market: 17M, 5.2%, <3% Vegan
■ Japanese Seniors - adult diapers are sold more than baby diapers
○ 2) Profitability - profit margin vs. volume (99 cent store or Louis Vutton)
■ How much does it cost to reach that segment - through media options
○ 3) Ability to Reach Segment in timely manner (can you find them)
■ Pregnant women
○ 4) Competitive Position - who else is in that space?
■ Flowers vs. Stuffed Animals. You call counselor to deliver a customized
bear for valentines
■ Airlines vs. Zoom/GoToMeeting
● P: position + develop market mix for each segment
○ a) consumer perception relative to competition; what is the “ideal” point?
■ You must market to their perception
■ Ie. small hand sanitizers, organic food (no certifications)
○ b) identify any “battles” in the product category - leader, challenger, follower
brands, and niche players ie. budweiser (largest market share), miller (challenger
can be number 3 or 4), coors (they are not in the war but like it since the war
increases the market), mirco-brews (niche players are question marks or dogs)
○ c) positioning strategy
■ 1) by attribute: Crest w/Fluoride; Lyft w/allowing tips; Budweiser w/no corn
syrup
■ 2) Value: “Two-Buck” Chuck so affordable or at least worth the price;
Harry’s brand shaving;
■ 3) by use or application of the product ie. Q-Tips are versatile; iPad at
beginning;
■ 4) users: perfumes have different users; Subaru to Dog Owners
■ 5) By USP - unique selling proposition ie. BMW is the ultimate driving
machine not just car; Haier appliances in China, in dorms, and wine chiller
■ 6) relative to competitor (more dangerous since can promote the
competition; should imply competitor not tell) ie. the uncola; Hertz and
Avis car rental “Avis tries harder”

STP Application
1) Divide into Segments traditionally: which was geographic; switched to AIO people
2) Select Targets and Sequence of Entry: anheuser bush targeting the biggest market [4
different beer drinkers:
a) reparative - repairs himself; hard working men who are loyal to sport
teams/country, brands, patriotic, budweiser uses red white and blue, blue
collared, drinks at home, or comfy familiar bar, drinks every day
b) social drinker - drinks with friends, more upscale brands, michelob brand, drinks
2 days a week, weekends were made for michelob
c) oceanic drinker - drinks to escape; men out of a job but job goes away, lost wife,
lost truck, lost it all; blames someone else for their problems like (ex. in laws),
drinks in the parking lot at circle k; Busch beer brand (mountain label) head to the
mountain to get away. Head for the mountains the mountains of busch.
Anheuser-Busch is >50% of American beer market
d) indulgent drinker - men out of a job but job goes away, lost wife, lost truck, lost it
all; blames himself, not marketed to

Ch 11/12/13

PRODUCT Price Placement Promotion


Product Decisions: Product Offering, PLC, Branding, New Product, Development, Packaging,
Services
1) Product offering
a) What types of goods do consumers buy?
i) Specialty - have a good idea of what you want ie. Apple
ii) Shopping - is a product you have to spend time looking for, but you are
still in primary demand
iii) Convenience
iv) Unsought
b) How many products are offered?
i) Measure/count with SKUs: stock keeping units each size, flavor, variety
ii) Ie. Colgate Total display has 6 SKUs
iii) Product offering = Product Mix
(1) # of product lines offered = width usually by brand name = number
of categories within a product line
(2) # of SKUs per line - depth
Product Mix is function of:
1. The nature of the product: liquid? Disposable? Heavy? Perishable?
● Cant have a product line that is both wide and deep
● Sunglasses/Nike has wide product offering many skus
● Gasoline only has 4 skus: diesel, regular
2. How consumers buy
a. Do people go to the flea market or costco
b. Is it a variety - seeking product ie. going to different fast food places
c. Or brand loyal
3. How firm originates
a. Coca-cola originally had very limited product offering with 2 skus (syrup/soda)
b. Later made other options like sprite, fanta, tab
c. Now has much deeper product lines
i. Coke line with variations
ii. Diet Coke with Variations
iii. Zero Coke with Variations

Product Mix: Deep Assortment or Wide Assortment


● Deep assortment - General Electric with one brand new (few brand lines) many SKUs
w/in the brand (light bulbs and nuclear reactors still have the same name)
● Wide assortment - many different, competing brands, few SKUs in each brand
○ Proctor and Gamble - nothing is named proctor and gamble but they own many
competing brands
○ P&G has nearly 300 brands; 7 categories - vary globally
■ Head and shoulder, aussie, herbal essence, pantene
○ Typical of Variety-seeking product categories; cereal, candy, perfumes, fashion
○ 3 companies own almost all cereals but has wide assortment
○ Evoked Sets of Favorites
○ Ie. Hershey
● Pros and Cons Wide
○ Redundant marketing
■ Marketers like it
○ Efforts: Costly
○ Spreads Risk
■ Tylenol not affected by the tylenol scandal
○ Introduce entirely new brand that enters different product category
■ Kraft includes Caprisun, Wheat Thins, Kool Aid
■ Kraft has too many cash cows; buy and acquire companies
○ Offer Competing Brands in Same Product Category
■ Customer buys more of their product; markets to different attribute
○ Creative Marketing
● Pros and Cons of Deep (GE)
○ Economies of Scale
■ Accountants like it
○ More Cost-effective
○ Halo and Horns Effect
■ Brand has positive or negative affect
○ Brand Extension Options & Strong Brand Image
■ Everything under same name (Coke, Virgin)
■ Creative Brand Extension like Jelly Belly with Jelly Flops and Bean
Boozled
○ New Products Difficult
○ Focused Marketing Activities

Product Decisions:
● Adoption curve - same for all items except time
○ Talking for whole product category not brand: all crockpots
● Innovators
○ Designers, Celebrities (Madonna), Change Agents (they control the flow of info:
Doctor, Magazine Editor, Influencer don't use product but push it) 2.5%
● Early Adopters
○ Real people who are the first to adopt very visible to population 13.5%
○ Important in the United States (the OC)
● The Chasm
○ Chasm at about 18% of the total eventual market
● Early Majority
○ Have crossed the chasm
○ Begins to require less marketing resources 34%
● Late Majority
○ Follow naturally - not to be left out
○ Design simplified, adapted
● Lagards
○ Do adopt the product
○ Often innovators have already moved on to the next thing
○ This group does adopt innovation
○ Grandparents will cell phones

How do you improve the probability of the adoption of the innovation


1) Relative Advantage (particularly in the US)
a) More value, More Convenience, Better Performance
b) Wikipedia > Encyclopedia, Birth Control Pills
2) Complexity: is it a complex product
a) Extent of learning required
b) (Americans don’t read instructions; lego adapted to US with character legos)
3) Compatibility with Current Solution of Behavior
a) Will it require Changing behavior or new infrastructure required?
b) Ie. first apple computer was not fit for desks, dining in france vs US
4) Trialability
a) Can it sampled, tested, demonstrated?
b) Ie. Costco Samples and Demos; 7 day trial gym membership
5) Observability
a) Is it observable, is it private or public, necessity or luxury
b) Ie. Gucci logo is very visible, the Apple logo, Starbucks logo

Branding
● A very american concept
● Strive for Brand Loyalty
1) Coke - most brand loyal customers
2) Apple - cult like customers
3) Tide- tide theft rings
● A. Atmosphere
○ Abercrombie has particular smells and perfumes
● B. Naming Strategy

Intro Growth Maturity Decline +


obsolescence

Objective Awareness Brand Continue Brand Harvest, or


- nobody knows awareness: Loyalty divest
about it ie. first Secondary - Febreze - Harvest means
Mac - Pregnancy - Swiffers is take of profits at
- Dryel Test early maturity the end
Primary Demand - hold on to - Velveeta
customers
- Coca
Cola/McD

Profitability Innovator has High Cost, low Sales are good, Captive market
sales… growth profits for most most profitable, can be oddly
highest sales profitable
level, many
competitors - most firms
forced out harvesting/divest
- Nutella; ing
hershey entered - some actually
a mature market sustain or grow
with chocolate a bit
spread

Competitor None or very Many fall out at - reasonable Limited or none


limited at the end of growth competition
end of into stage - Sprint, Verizon,
- it is just you - too much T-Mobile, AT&T
competition

Product a. Brand Additional Full product line, Only best selling


b. Features versions; Many competing brand will be left
- one brand with new brands; Too brands
limited feature, many, useless Limited,
Brand Features unrefined/crude features Reasonable; pragmatic
- amana - microwave with necessary features
microwave toaster or pizza features
oven, microwave - typewriter
remote, meat
probe

Pricing Skim (with Competitive Reasonable; Either clear


product only deals to gain Profitable; inventory or
bought once; set share secure Market capture $$
high prices and Shares
capture people; - hard to identify - if customer
first iphone, first brand - not much likes product
TI Calculator) differences; cant shake up they can’t buy it
price more or again (TJ Max)
Penetrate less than
(repeat product everyone else
with low price, (since if affects
hook people in whole market
and raise prices; pricing)
BIC razors, Cigs
in China, - Lyft with
Amazon) promotions

Placement Limited; may be Everywhere. In Drop Limited;


non-traditional places in should non-performers; consumer will
- with an not be develop more search for it
innovation the enduring
placement relationships
should interrupt
buyers
- at kiosks or
carts or
kickstarter

Promotion Primary D is Promote a lot Maintain! Location; Direct


message (what with Ads and Reminder ads mail, yellow
Message the product is) Samples: Thank you pages
Differentiate promos
Media Limited is limited advantage; - people will
- ?Guerilla promos, ads - hallmark: when want to find you
(bts/posters - most costly you care enough so tell them the
spinners) to sent the very location
best
- unless firm with - McDonalds Im
many cash cows loving it
since P&G can
promote the (don’t say what
heck out of stuff product/brand is)

Coca-Cola video:
● Did research and development
● Company does well when it is about what Coke is in (the social fabric) not what is in
coke
● Coke did not focus on loyal drinkers they focused on getting new customers
○ Coke fans didn’t like the idea; even though the taste was better
○ It is about the emotional component of the brand

A. Atmospherics
Visual, audio, scent, tactile effects
1. Visuals: logos, icons, graphic design, colors (apple old logo)
2. Jingles, slogans (hey dude, you’re getting a dell)
3. Associations: some occur naturally, some crafted (apple genius bar)
starbucks has baristas, apple has genius, disney has cast members not
employees
4. Spokesperson: celebrity, personality created, anthropomorphization (taking
something not human and giving it human qualities)
- Jack in the box character, Jolly green giant, Dos Equis stay thirsty my
friends; Mac vs PC
B. Naming Strategy
Really think through your name on brand since it is expensive to change
Requirements:
1. Pronounceable - not like perrier jouet
2. Familiar - as comfortable for consumers as possible
a. Nick name - can it develop a nick name, if consumers nick name it is
good it means they are close to the brand; Budweiser sounds german yet
is pronounceable and has nick name Bud; Two-Buck Chuck
b. Create simultaneously - primary/secondary demand: get name known for
the whole product category (pampers = disposable diaper; Zamboni);
Classic Eponyms - is kinda good but need a lawyer or patent: Jello,
Band-aid, etc. since some companies lose brands since it gets
genericized such as escalator, zipper, yo-yo, thermos, laundromat where
you lose the right to your own name
c. Become a verb: Federal Express → FedEx; Netflix it; Just Google it
3. Enduring - over time
Ie. Century 21 can get dated, Wired Cafe sounds dated, - Enduring about the
globe: Nova means don’t go in Spanish, Latte means milk in Italian but not in
German, Gerber, Bimbo bread, Zyklon - gas used in concentration camp;
tonic
water means toilet water in Italian; Barf detergent
4. Truely Differentiates Brand
- General Motors (GM), American Broadcasting (ABC), National Broadcasting
(NBC); United Fruit Company → Chiquita bananas

Naming Options Categorically


1. Corporate Name: Kellogg’s, Apple, GE, Ford (common with Deep Product Mix; but
narrow) are the names of the corporation
2. Family Name: each a different product line
a. (Ford) Explorer
b. (Kellogg) Froot Loops, Raisin Bran, Frosted Flakes
→ (Eggo) is for hot foods, you trust it since it is familiar
3. Individual Brand Names (common w/wide product mix; variety seeking product category)
a. Calvin Klien cologne: obsession, ethernity, ck

Core Elements of Brand: Naming Tactics


Actual Naming Strategies
1. Personal or Family Name: offers credibility… not in China
a. Harley-Davidson, LV, Samuel Adams, Rothschild means red shield the most
respected man, Paul Flemings Chang’s
2. Geographical or Locational: consumer attributes expertise to location even if they don’t
know exact geography
a. KFC, On the Border, Alaska Airlines, Fiji, Szechuan, Pategonia
3. English word with no correlation to product
a. Can create “Halo” effect
b. Target, Dove, Oracle, Crest, Pampers, Grey Goose Vodka
4. English word that describes product
a. Often the best approach
b. Gives consumer an idea of product
c. But has 2 caviats
d. 1. May have to translate name in some countries: Mr. Clean, Cocacola means
biting the head of tadpoles in China so changed now it mean allow the mouth to
enjoy
e. 2. Difficulty in Brand Extension: ashes on the sea, panda express, yelp for help,
under armour, Petsmart; it can use family name such as Taco Bell; Iosif
Vissarionovich → Joseph Stalin (man of steel)