6. Consumers offer their trust and loyalty with the implicit understanding that the brand will behave in certain ways and provide them utility through consistent product performance and appropriate pricing, promotion, and distribution programs and actions.
7. Firms see branding as a powerful means to secure a competitive advantage.
8. Retailers can introduce their own brands by using their store name, creating new names, or some combination of the two.
9. Successful online brands have been well positioned and have found unique ways to satisfy consumers’ unmet needs.
10. A company’s management of a brand is typically the determining factor in the ultimate success or failure of the brand.
11. Brands have differentiating features that distinguish them from competitors and add value for consumers.
12. Strategic brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity.
13. Consumers often don’t buy products; they buy the images associated with products.