Brand Recognition/2007+/-Brand Recognition/2007+/-

BrandingBranding A brand is a name, term, design symbol or A brand is a name, term, design symbol or

any other feature that identifies a seller’s any other feature that identifies a seller’s product from a competitive product.product from a competitive product.

Brand Names

Brand Marks

-Verbal part of the brand-Verbal part of the brand

a symbol, design or distinctive coloring or lettering. a symbol, design or distinctive coloring or lettering. Ex. A brand name written in a distinctive way (Logo)Ex. A brand name written in a distinctive way (Logo)

Logos & Symbols are learned (Learning Theory) Logos & Symbols are learned (Learning Theory)

Brand Terminology Brand Terminology

© CopyrightCopyright……the exclusive right to the exclusive right to reproduce, publish and sell the matter and reproduce, publish and sell the matter and form of a literary, musical or artistic work.form of a literary, musical or artistic work.

PremisePremise: An idea is property that one : An idea is property that one can sell, trade or profit from - an can sell, trade or profit from - an intellectual real estateintellectual real estate

TrademarkTrademark: 10 year legal protection to brand : 10 year legal protection to brand name or brand mark name or brand mark but renewed indefinitely

Brand Terminology Brand Terminology

Trade CharacterTrade Character …a brand mark …a brand mark personifiedpersonified

® PatentPatent…inventions that have to do with …inventions that have to do with function or design function or design “Registered U.S. Patent Office” “Registered U.S. Patent Office”

® 4,546,490 U.S. patents through Dec. 19854,546,490 U.S. patents through Dec. 1985® 3300 mousetrap patents issued since the 3300 mousetrap patents issued since the

first one in 1790first one in 1790

Benefits of BrandingBenefits of Branding

B U Y E R SB U Y E R S Identify products via Brand RecognitionIdentify products via Brand Recognition Shopping efficiency is facilitatedShopping efficiency is facilitated

- - Search time ( )Search time ( )

- - Association of quality level ( )Association of quality level ( )

- - Perceived risk decrease ( )Perceived risk decrease ( )

- - Facilitates repeat purchasing Facilitates repeat purchasing ( )( )

Benefits of BrandingBenefits of BrandingBenefits of BrandingBenefits of Branding

S E L L E R SS E L L E R S Identify products via Brand DifferentiationIdentify products via Brand Differentiation Selling efficiency is facilitatedSelling efficiency is facilitated

-- New product acceptance New product acceptance

-- Legal protection Legal protection

-- Brand loyalty is assisted Brand loyalty is assisted

-- Pricing at a premium Pricing at a premium

- - Promotional effectivenessPromotional effectivenessTaglinesTaglines

Society’s View of Branding Society’s View of Branding

Disadvantages: brand proliferation,brand proliferation, trivia differentiation,trivia differentiation, higher priceshigher prices over promotion of over promotion of

image (status) as a image (status) as a “tangible” benefit“tangible” benefit

AdvantagesAdvantages:: Higher qualityHigher quality Rate of innovationRate of innovation

increasesincreases Shopping Shopping

efficiencyefficiency Stabilize pricesStabilize prices

A Continuum of Brand FamiliarityA Continuum of Brand Familiarity

BrandNon recognition

Brandinsistence

Brand Brand Brandrecognition preference insistence

Brand Identity Crisis Ford Aims to Resolve (WSJ, 15 Dec 98, B12)

Brand Identity Crisis Ford Aims to Resolve (WSJ, 15 Dec 98, B12)

Mercury………………...Brand identity problemsMercury………………...Brand identity problems

Mountaineer……………ExplorerMountaineer……………Explorer

Sable…………………….TaurusSable…………………….Taurus

Mystique………………..ContourMystique………………..Contour

Brand Loyalty PrinciplesBrand Loyalty Principles DefinitionDefinition: A customer’s favorable attitude toward a brand : A customer’s favorable attitude toward a brand

and likelihood of consistent purchase.and likelihood of consistent purchase. Consumers tend to buy 1 or 2 brands in a given product Consumers tend to buy 1 or 2 brands in a given product

categorycategory Overall, brand satisfaction is relatively high, making Overall, brand satisfaction is relatively high, making

new product introductions difficult new product introductions difficult

Era of Perceived ParityEra of Perceived Parity Parity = brands in the product category perform at Parity = brands in the product category perform at

basically the same level basically the same level ex’s: disposable razors (74%), laundry detergents, ex’s: disposable razors (74%), laundry detergents,

shampoo, canned soups, beer, paper towels, deodorantsshampoo, canned soups, beer, paper towels, deodorants

Brand Loyalty PrinciplesBrand Loyalty Principles

As perceived risk increases, the preference for As perceived risk increases, the preference for branded products increasesbranded products increases

Tends to increase with age Tends to increase with age

Higher among heavy users Higher among heavy users

Decreases as inter-purchase time increasesDecreases as inter-purchase time increases

Brand Loyalty

CIGARETTESCIGARETTES 71%71%

LAUNDRY DETERGENTLAUNDRY DETERGENT 51%51%

GARBAGE BAGS 23%GARBAGE BAGS 23%

AUTOMOBILE(s)AUTOMOBILE(s) 47%47% MEN MEN 51% AGE 60+ : 60% 51% AGE 60+ : 60%

WOMEN WOMEN 43% 43% 18-29 : 42% 18-29 : 42%

MidwesternersMidwesterners 52% 52%

EasternersEasterners 42% 42% Smokers, especially 18-24 Smokers, especially 18-24

year olds, are brand loyal.year olds, are brand loyal.

Applied

Relationship Between Customer Satisfaction and Loyalty

Brand EquityBrand Equity

(Marketing + Financial)BRANDEQUITY(VALUE)

BRANDAWARENESS

BRANDLOYALTY

BRANDQUALITY

BRANDASSOCIATIONS

& serviceCanon/XEROX

Bristol Myers Squibb

Brand Equity: Spanning the GlobeBrand Equity: Spanning the Globe

0%

10%

20%

30%

40%

50%

60%

70%

80%

Percentage Sales Outside Of The HomeMarket

MarlboroCokePepsiKellogg'sCampbell'sBudweiserPampersNescafeGilletteBenson & Hedges

Branch, Shelly. “ACNielsen Gives 43 Brands Global Status.” WSJ, B8, Oct. 31, 2001.

Brand Licensing Examples(paying fees to use trademark rights owned by others)

Brand Licensing Examples(paying fees to use trademark rights owned by others)

Revenue SourcesRevenue Sources (1986) (1986) (1991)(1991)

Trademarks/Brand namesTrademarks/Brand names 28% 34%28% 34%

Cartoon characters 24% 20%Cartoon characters 24% 20%

Sports celebritiesSports celebrities 11% 11% 17% 17%

Designers (clothing, etc.)Designers (clothing, etc.) 7% 7% 9% 9%

Theatrical feature film stars 7%Theatrical feature film stars 7% 7% 7%

Types of Brand Sponsorship Types of Brand Sponsorship

Manufacturers’ Brands Manufacturers’ Brands - - dominate most sales (food, auto’s, appliances)dominate most sales (food, auto’s, appliances)- consumer appeal: low risk - good quality - prestige- consumer appeal: low risk - good quality - prestige- well promoted (presold) and relatively higher prices- well promoted (presold) and relatively higher prices

Private (dealer) Brands – Middlemen BrandsPrivate (dealer) Brands – Middlemen Brands- substantial sales: 80% clothing & 1/3 food substantial sales: 80% clothing & 1/3 food - consumer appeal: price/quality - comparison shopper- consumer appeal: price/quality - comparison shopper

Manufacturer’s Brands Distributed By Channel Members

Manufacturer’s Brands Distributed By Channel Members

AdvantagesAdvantages IncreasedIncreased

- turnover- turnover

- product quality- product quality

- dealer prestige- dealer prestige Mfg. SupportMfg. Support

- Pre sold via mass promotion- Pre sold via mass promotion

- Cooperative promotions $- Cooperative promotions $

DisadvantagesDisadvantages Mfg. ControlsMfg. Controls

- price, quality- price, quality- incentive to local market- incentive to local market

lower gross marginlower gross margin if widely distributed, less if widely distributed, less

store loyalty & less store loyalty & less premium pricepremium price

If heavily discounted, less If heavily discounted, less prestigeprestige

MAYTAG

Reasons for store usage of Private Brands … Reasons for store usage of Private Brands …

Provide higher profits/higher marginsEstablish price/value image for storesProvide greater selection for customersCreate customer loyalty

47%31%16% 4%

88% na.26%26%

Promotion Magazine, July. 1994

Grocery Drug Grocery Drug

Branding and Consumer Perception Of QualityBranding and Consumer Perception Of Quality

The Association of Food, Beverage and Consumer Products Companies, “ Consumers Give Brand Name Food, Consumer Products Top Ratings”, Mar. 24, 2005,

http://www.gmabrands.com/news/docs/NewsRelease.cfm?DocID=1472

70%

72%

74%

76%

78%

80%

82%

84%

Household& PersonalCare Items

FoodProducts

HomeElectronic

Equip.

Clothing

When asked to describe the quality of national brand products, a % of consumer described them as excellent.

Consumers’ Perceptions of Store & Manufacturers’ Brands for Selected Product GroupsConsumers’ Perceptions of Store & Manufacturers’ Brands for Selected Product Groups

Source: “Store Brands at the Turning Point,” Consumer Research Network, 3624 Market Street, Philadelphia, PA.

The Brand Race

Manufacturer’s BrandsManufacturer’s Brands Dealer Dealer BrandsBrands

Battle of the Brands JOGGING IN A JUG

Power

Juice

Competition between manufacturers’ and middlemen's Competition between manufacturers’ and middlemen's brands for distribution power.brands for distribution power.

Who is winning the Battle? Who is winning the Battle? Whoever controls the consumer. Whoever controls the consumer.

GE Battle of Brands SEARS GE Battle of Brands SEARS

Types of Brand Sponsorship Types of Brand Sponsorship

Generic NameGeneric Name: describes a product class : describes a product class as part of our standard vocabularyas part of our standard vocabulary

- c- consumer appeal: price conscious relative to quality onsumer appeal: price conscious relative to quality - Relatively low sales/packages have stark letteringRelatively low sales/packages have stark lettering

Mixed Brand Strategy = Combination of aboveMixed Brand Strategy = Combination of above

MILKMILK

Generic brandsGeneric brands

Co-brandingCo-brandingTwo different brand teams create a new product.Two different brand teams create a new product.E.g., General Foods & Hershey’s created “Reese’s E.g., General Foods & Hershey’s created “Reese’s Peanut Butter Puffs” cerealPeanut Butter Puffs” cereal

Senior WorriesSenior Worries

Average Annual Cost of Top 50 Prescription Drugs Used by the Elderly

Lueck, Sarah. “Drug Prices Far Outpace Inflation.” WSJ, D2, July 10, 2003

Effects Of Generic And Brand-Name Competition On Drug PricingEffects Of Generic And Brand-Name Competition On Drug Pricing

-0.15

-0.1

-0.05

0

0.05

0.1

0.15

Change In Ratio Of

Best Price to Average Pharmacy

Price

1 2 3 4 5 6-8

Number Of Competitors

Generic

-BrandName

“How Increased Competition from Generic Drugs Has Affected Prices and Returns in the Pharmaceutical Industry”, July 1998,

http://www.cbo.gov/showdoc.cfm?index=655&sequence=7

Brand Selection CriteriaBrand Selection Criteria

1. Past Experience1. Past Experience

2. Price2. Price

3. Quality3. Quality

4. Recommendations by others4. Recommendations by others

5. Brand popularity (panache)5. Brand popularity (panache)

Price + Quality =Value

Brand Strategy DecisionsBrand Strategy Decisions Family Branding Family Branding – Black & Decker– Black & Decker

- one name for several products- one name for several products Individual BrandingIndividual Branding – Tide - Cheer – Tide - Cheer

- separate name for each product item- separate name for each product item Branding Extension Branding Extension – Diet Coke– Diet Coke

- established name is given to “new” product - established name is given to “new” product

modifications (ex. Arrid “Extra Dry”)modifications (ex. Arrid “Extra Dry”) Combinations - Company Name Combinations - Company Name (IBM)(IBM)

- ex. Separate GM division (Pontiac, Buick etc.)- ex. Separate GM division (Pontiac, Buick etc.)

Comparative Sales PerformanceComparative Sales Performance

Share of market secured during 1st two yrs.Share of market secured during 1st two yrs.

Household ProductsHousehold Products (28) (28)

new name (14)new name (14)

line extension (14)line extension (14)

Food Products Food Products (36)(36)

new name (10)new name (10)

line extension (26)line extension (26) 1 of 2

6.7%

3.3%

6.5%

1.9%

Brand extensions’ success is influenced by the degree Brand extensions’ success is influenced by the degree of perceived “fit” between the brand and the extended of perceived “fit” between the brand and the extended product categories.product categories.

So, why are some products with a negative fit So, why are some products with a negative fit successful? Examples: Yamaha tennis rackets, successful? Examples: Yamaha tennis rackets, Panasonic bicycles, Jeep luggage and Panasonic bicycles, Jeep luggage and portable CD players.portable CD players.

Inconsistencies are due to: Failure to account for consumers’ adoption tendencies!!!!?

Klink&Smith,JMR,August 01

BrandExtensions

BrandExtensions

Brand Names Brand Names

Weak NamesWeak Names

Eastern AirlinesEastern Airlines

Theragran-MTheragran-M

TI-99-4TI-99-4

AnacinAnacin

Strong NamesStrong Names

US AirlinesUS Airlines

Apple ComputerApple Computer

Excedrin, BufferinExcedrin, Bufferin

1 of 10 brands contribute to product success (1949)1 of 10 brands contribute to product success (1949) 1.2 of 10 brands contribute to product success (1974)1.2 of 10 brands contribute to product success (1974)

- 52% neutral - 36% negative -12% positive- 52% neutral - 36% negative -12% positive

What’s in a Name?What’s in a Name? Think about your name. Now think about how others Think about your name. Now think about how others

perceive youperceive you Every name sends forth “psychological vibrations”Every name sends forth “psychological vibrations”

EXAMPLESEXAMPLES Elmer probably won’t get as good grades as DavidElmer probably won’t get as good grades as David Anita, extremely sexy. Anne, beautiful but Anita, extremely sexy. Anne, beautiful but

untrustworthy. Andrew, sincere but immature. Eric a untrustworthy. Andrew, sincere but immature. Eric a big winnerbig winner

Look-Alike Names Lead to Drug Mix-Ups

Look-Alike Names Lead to Drug Mix-Ups

EVISTAEVISTA OsteoporosisOsteoporosis

E-VISTA*E-VISTA* Combats itching Combats itching

ImferonImferon Iron replacementIron replacement

InterferonInterferon Cancer therapyCancer therapy

XanaxXanax Anxiety treatmentAnxiety treatment

ZantacZantac Gastric ulcer treatmentGastric ulcer treatment

Criteria for selecting an Effective Brand Name

Criteria for selecting an Effective Brand Name

Easy to say Easy to spell Easy to recall

EFFECTIVEBRAND NAME

CommunicatesProduct uses,

benefits

Legal protection,& consider

media usage

Be Distinctive,No Negative connotations

Mnemonic Quality

April 4, 1975April 4, 1975

Founder Bill Gates drops out of Harvard after Founder Bill Gates drops out of Harvard after receiving an offer to develop a new microcomputer.receiving an offer to develop a new microcomputer.

Gates moves to New Mexico with high school friend Gates moves to New Mexico with high school friend Paul Allen and they create Microsoft.Paul Allen and they create Microsoft.

Selecting a brand name – Selecting a brand name – Bill Gates wanted to create Bill Gates wanted to create something that would be easy to remember and make something that would be easy to remember and make sense. Micro (for microcomputers) and soft (for sense. Micro (for microcomputers) and soft (for software)software)

Sources for Creating the “Right” Brand Name

Sources for Creating the “Right” Brand Name

Synthetic Names…interesting sounds but no meaning Synthetic Names…interesting sounds but no meaning ex(s): Kodak, Exxonex(s): Kodak, Exxon

Company foundersCompany founders - - Famous peopleFamous people - Patriots ex(s): - Patriots ex(s): Ford, Lincoln, Andrew JacksonFord, Lincoln, Andrew Jackson

MythsMyths…Initials……Initials…Animals/Animals/Fish…AlphanumericsFish…Alphanumerics(Atlas tires) (RCA) (Cougar) (RX7)(Atlas tires) (RCA) (Cougar) (RX7) Recognize and match the emotions associated Recognize and match the emotions associated

with brand name to fit the attitudes consumers with brand name to fit the attitudes consumers have toward the product categoryhave toward the product category

DRAGON

HOT SAUCE

Brand Name ProtectionBrand Name Protection

Legal Registration with the Legal Registration with the U.S. Patent and Trademark U.S. Patent and Trademark Office protects a brand for Office protects a brand for ten years with indefinite ten years with indefinite renewals.renewals.

Guard against generic useGuard against generic use Protect against Protect against

counterfeitingcounterfeiting

Sounds alikeSounds alike- - Sasson vs. Sason vs. SassoonSasson vs. Sason vs. Sassoon- Squirt vs. Quirst- Squirt vs. Quirst- Lexis vs. Lexus (1989)- Lexis vs. Lexus (1989)

Stimulates the same Stimulates the same mental reactionmental reaction - Mr. Stain vs. Mr. Clean- Mr. Stain vs. Mr. Clean

Duplicates a competitors’ Duplicates a competitors’ overall marketing strategyoverall marketing strategy

Trademark Infringement

Brand Name Protection Brand Name Protection

How does Kleenex differentiate its products to carve out its niche?

How does Kleenex differentiate its products to carve out its niche?

© 2004 Kimberly-Clark Worldwide, Inc.Reprinted with Permission.

Trademark or Generic Name? Trademark or Generic Name?

A trademark is considered a generic name when A trademark is considered a generic name when the public uses it to describe a class of products the public uses it to describe a class of products such as aspirin rather than identify a particular such as aspirin rather than identify a particular brandbrand

•Generic (once Branded) Examples:

•Nylon . . . Kerosene . . .

•Escalator . . . Formica . . .Cellophane . . .

Trademark or Generic Name? Trademark or Generic Name?

FTC can convert a trademark to a generic name if …FTC can convert a trademark to a generic name if …- …Present trademark confuses buyers…about the - …Present trademark confuses buyers…about the

comparative value and true nature of competing productscomparative value and true nature of competing products

- …- …Present trademark limits competition…as customers Present trademark limits competition…as customers

are diverted away from competitorsare diverted away from competitors

- …Competitors are barred from using the old trademark - …Competitors are barred from using the old trademark

(when it becomes a generic name)(when it becomes a generic name)

Trademark Law Protects Colors Court Rules

Trademark Law Protects Colors Court Rules

PRODUCTPRODUCT COMPANYCOMPANY OUTCOMEOUTCOME

- Fiber glass- Fiber glass Owens-Corning Owens-Corning WonWon

insulationinsulation Fiberglass Fiberglass

- Prestone II - Prestone II First Brands First Brands LostLost

antifreeze in antifreeze in

yellow jugsyellow jugs

- Blue packets of- Blue packets of NutraSweetNutraSweet LostLost

artificial sweetenerartificial sweetener

- Pepto Bismol- Pepto Bismol Procter & GambleProcter & Gamble LostLost

USPTO Trademark Applications/CertificatesUSPTO Trademark Applications/Certificates

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

1985 1990 1995 2000 2005

Applications

CertificatesIssued

United States Patent and Trademark Office- “Performance and Accountability Report (2005)”, p. 134 & 136.

Trademark ApplicationsBy Residents Of StateTrademark ApplicationsBy Residents Of State

Rank State # in 2005

1 California 56,167

2 New York 28,164

3 Florida 17,285

4 Texas 13,609

5 Illinois 11,782

Chocoladefabriken Lindt & Sprungli Trademark CaseChocoladefabriken Lindt & Sprungli Trademark Case

Lindt acquired a trademark in Europe in 2001 on its Lindt acquired a trademark in Europe in 2001 on its gold-foil-wrapped chocolate bunnygold-foil-wrapped chocolate bunny

In 2003 Lindt sued, another chocolate company, In 2003 Lindt sued, another chocolate company, Hauswirth, for a trademark violation for selling a Hauswirth, for a trademark violation for selling a chocolate bunny that looked very similar to the one chocolate bunny that looked very similar to the one Lindt had trademarkedLindt had trademarked Hauswirth countersuedHauswirth countersued

Applied Marketing

The Chocolate BunniesThe Chocolate Bunnies

This is the Lindt bunny,

notice the gold foil, stance, ear

positioning, red ribbon, and bell attached to

the ribbon

Although similar in many

ways, the Hauswirth

bunny lacks the bell of the

Lindt bunnyThis rabbit, produced by Riegelein in Germany, avoided a lawsuit from

Lindt by painting the bow on as opposed to acctually having a bow around the

rabbits neck

Hauswirth’s CaseHauswirth’s Case

The company had been making chocolate The company had been making chocolate bunnies for a long timebunnies for a long time

Claimed Lindt had acted in “bad faith” by Claimed Lindt had acted in “bad faith” by registering a trademark that had been used registering a trademark that had been used long beforelong before

Argued that most chocolate bunnies are Argued that most chocolate bunnies are shaped the same way because of shaped the same way because of manufacturing limitationsmanufacturing limitations

Difficulty of the SituationDifficulty of the Situation

Trademark laws do not allow a three-Trademark laws do not allow a three-dimensional shape to be trademarked if it dimensional shape to be trademarked if it serves a functional purposeserves a functional purpose Trademark specialists struggle over requirements Trademark specialists struggle over requirements

that shapes be “distinctive” but not functionalthat shapes be “distinctive” but not functional Proctor & Gamble Co. failed to trademark a bar of Proctor & Gamble Co. failed to trademark a bar of

soap whose sides are convex instead of the usual soap whose sides are convex instead of the usual concaved sidesconcaved sides

Status: Case pending June 09Status: Case pending June 09

Drug Makers See ‘Branded Generics’ Eating Into Profits

Drug Makers See ‘Branded Generics’ Eating Into Profits

Altered Copies Outmaneuver Patents in Legal Altered Copies Outmaneuver Patents in Legal Battles, Boosting Market PressuresBattles, Boosting Market Pressures

Applied Marketing

Battle of the BrandsBattle of the Brands

Traditional Branded Drugs- manufacturers risk money on R&D and then charge high prices to recoup investment (1.7 bil in 01-02)

Traditional Generics -Contain the active ingredient of the branded drug and act in the body in an identical way the branded drug does. – Traditional Generics face much risk in marketplace competition

“Branded Generics” -Contain the active ingredient of the branded drug, however, through aggressive litigation, they prove to act differently in the body.

Strategy: - Spend money on litigation, little on R&D, charge prices slightly lower than Branded Drugs, but higher than traditional Generics

WSJ, Spring 2003WSJ, Spring 2003

Altered Copies Outmaneuver Altered Copies Outmaneuver

Patents in Legal BattlesPatents in Legal Battles

Key issue: generic drugs do not have to pass rigorous tests of the FDA, if they share the active ingredient of branded drugs

lawyers argue that their drug contains different ingredients and acts differently than the patented drug to avoid challenging a patent

Generic Drug Maker in India Outmaneuvers U.S. pharmaceutical market

Generic Drug Maker in India Outmaneuvers U.S. pharmaceutical market

Dr. Reddy’s Laboratories Ltd. won a breakout (2002) court case in New Jersey through a legal loophole

Rx Rivals Annual percentage change in prescriptions dispensed in the U.S. Rx Rivals Annual percentage change in prescriptions dispensed in the U.S.

0%

2%

4%

6%

8%

10%

12%

1999 2000 2001 2002

BrandsGenericsBranded Generics

A Numbers GameA Numbers Game

““It’s a numbers game,” - The average profit over the life of a It’s a numbers game,” - The average profit over the life of a generic drug can be more than 10 times the court costs of generic drug can be more than 10 times the court costs of successful litigation.successful litigation.

As a result, generic drug companies are thriving with low R&D As a result, generic drug companies are thriving with low R&D and marketing costs. The average profit margin for top generic and marketing costs. The average profit margin for top generic products was 16% compared to 20% for branded products.products was 16% compared to 20% for branded products.

Philips Electronics NVPhilips Electronics NV

Philips Electronics NV is Europe’s Philips Electronics NV is Europe’s biggest consumer-electronics biggest consumer-electronics company but, they have losses for company but, they have losses for the past 15 years in Americathe past 15 years in America

North America makes up about North America makes up about 26% of Philips consumer-26% of Philips consumer-electronics saleselectronics sales

Philips Tries to Zap Clunky Image in U.S.

Applied Marketing

Philips Electronics NVPhilips Electronics NV

At mass retail outlets, the name will change from At mass retail outlets, the name will change from “Philips-Magnavox” to “Magnavox” for low price “Philips-Magnavox” to “Magnavox” for low price TVs and StereosTVs and Stereos

They will “save” the brand name “Philips” for They will “save” the brand name “Philips” for higher-end digital gearhigher-end digital gear