Explain why many people are willing to pay more for branded products than for unbranded products

1. Given all the changes in the branding strategy for Las Vegas over the years, has the Vegas brand had a consistent meaning to consumers? Is this a benefit or a detriment to the city as it moves forward?

2. Use a product from the hospitality or travel industry to explain the following terms ( provide an example in your explanation): (a) facilitating product, (b) supporting product, (c) augmented product?

3. Explain why many people are willing to pay more for branded products than for unbranded products. What does this tell you about the value of branding?

4. Apply the concept of the product life cycle to a hotel. How does a company keep its products from going into the decline stage?

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