Store brand (or private brand) is a brand created and owned by a reseller of a product or service. Although store brands have been gaining strength for more than a decade, recent tougher economic times have created a store-brand boom. Studies show that consumers are buying more private brands, and most don’t plan to return to name brands anytime soon. “Bad times are good times for private labels, “says a brand expert.”As consumers become more price-conscious, they also become less brand-conscious.
More from this Section
- Marketing channel management
Marketing channel management is a management which calls for selecting, managing, and motivating individual channel members and evaluating their performance over time.
- The marketing concept
The marketing concept holds that the key to achieving organizational goals is being more effective than competitors in creating, delivering, and ...
- Memory retrieval
Memory retrieval is the way information gets out of memory. Three facts are important about memory retrieval. 1. The presence of other product information
- Conjunctive heuristic
Conjunctive heuristic means the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the ...
- Post purchase behavior
The stage of the buyer decision process in which consumers take further action after purchase based on their ...
Human needs are states of felt deprivation. They include basic physical needs for food, clothing, warmth, and safety; social needs for belonging and affection;
- Expected product
Expected product is a set of attributes and conditions buyers normally expect when they purchase this product.