Notesale: Turn your study into money

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Branding and Patents
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For example, Coca-Cola have created a brand that is instantly recognizable all over the world
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​It is a result of consumer
behavior and is affected by a person's preferences
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’’ Keeping this statement in mind,
analyse the importance of sponsorship in today’s global market
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For example, beer commercials don’t
sell beer; they sell the lifestyle of what society sees as a man’s lifestyle, with “beautiful” women
and freedom from life’s responsibilities
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So in any case, any products
that these celebrities are using/wearing etc
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Thus increasing the sales
volume of the product in question, which was the sole aim of the marketing strategy
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Firstly, one of the biggest drawbacks is the cost
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The fact is, many firms have to pay out exuberant fees
to plaster their logo on a team shirt, or have a celebrity use their products
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Another point that can be made is
the development of controversies leading to negative attitudes
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This can
cause a boycott of the said sponsors product’s, leading to a decrease in sales
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What is a patent?
A government authority or licence that protects the functionality of a product
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Owner may sue when encountered infringement
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What is product innovation?
This involves inventing new or altering existing products
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So the use of new technologies may play a big part in cutting costs as many
companies use robot mechanics
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What is meant by the term ‘Copyright’?
Legal protection on published/unpublished work from unauthorised duplication
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​ ​For example, McDonald’s have trademarked their logo,
the ‘Golden Arches’, as well as their company name and slogan ‘​I'm lovin' it’​

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