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142 Cards in this Set
- Front
- Back
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New perspectives on marketing |
-Asfirms are dealing with enormous shifts in their external marketingenvironments: Themarketing strategies and tactics have changed dramatically |
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New approaches embraced by marketers (8) |
-Rapidtechnological developments -Greatercustomer empowerment -Fragmentationof traditional media -Growthof interactive and mobile marketing options -Channeltransformation and disintermediation -Increasedcompetition and industry convergence -Globalizationand growth of developing markets -Heightenedenvironmental, community, and social concerns -Severeeconomic recession |
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New Capabilities of the new economy |
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Personalizing Marketing (3) |
• The rapid expansion of the Internet andcontinued fragmentation of mass media have brought the need for personalizedmarketing into sharp focus. • Modern economy celebrates the power ofthe individual consumer. • To adapt to the increased consumer desirefor personalization, marketers have embraced concepts such as experientialmarketing and relationship marketing. |
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Reconcilingthe different marketing approaches (2) |
• The different approaches of personalizingmarketing helpreinforce a number of important marketing concepts and techniques. • According to the customer-based brandequity (CBBE) model these different approaches emphasize different aspects ofbrand equity. |
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Experimental marketing (2) |
• Promotes a product by communicating aproduct’s features and benefits and connecting it with unique and interestingconsumer experiences. • Assertionsof Pine and Gilmore |
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Assertions of Pine and Gilmore |
•Commodity business - Charge for stuff •Goods business - Charge for tangiblethings•Service business - Charge for theactivities you perform •Experiencebusiness - Charge for the time customers spend with you |
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Relationship marketing |
Attempts to provide a more holistic,personalized brand experience to create stronger consumer ties. |
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Benefits of relationship marketing (4) |
•Acquiring new customers can cost fivetimes as much as satisfying and retaining current customers. •The average company loses 10 percent ofits customers each year. •A 5 percent reduction in the customerdefection rate can increase profits by 25 to 85 percent, depending on theindustry. •The customer profit rate tends toincrease over the life of the retained customer. |
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Brand experience scale (4) |
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Mass customization (2) |
• Making products to fit the customer’sexact specifications. • The advent of digital-age technologyenables companies to offer customized products on a previously unheard-ofscale. |
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One to one marketing (2) |
•Consumers help add value by providinginformation to marketers. •Marketers add value by taking thatinformation and generating rewarding experiences for consumers. |
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Permission marketing |
•The practice of marketing to consumersonly after gaining their express permission. •An influential perspective on howcompanies can break through the clutter and build customer loyalty. |
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Masscustomization and one-to-one and permission marketing are: |
Potentiallyeffective means of getting consumers more actively engaged with a brand |
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According to customer-based brand equity(CBBE) model |
Differentapproaches emphasize different aspects of brand equity |
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Perceived quality |
•Customers’ perception of the overallquality or superiority of a product or service compared to alternatives andwith respect to its intended purpose. |
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Aftermarketing |
•To achieve the desired brand image:Product strategies should focus on both purchase and consumption. |
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User manuals |
•An afterthought, put together byengineers who use overly technical terms and convoluted language. |
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Customer service programs |
Aftermarketing is more than the designand communication of product instructions. |
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Loyalty programs |
•Purpose is identifying, maintaining, andincreasing the yield from a firm’s ‘best’ customers through long-term,interactive, value-added relationships. |
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Customer price perceptions (4) |
•The pricing strategy can dictate: How consumers categorize the price of thebrand and how firm or how flexible they think theprice is, based on how deeply or how frequently it is discounted. •Consumers rank brands according to pricetiers in a category. •Price bands: Range of acceptable pricesthat indicate the flexibility and breadth marketers can adopt in pricing theirbrands within a tier. •Value-based pricing strategies:Attempting to sell the right product at the right price to better meet consumerwishes. |
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Setting prices to build brand equity |
•Choosing a pricing strategy to buildbrand equity means determining the following: ----A method for setting current prices. ----A policy for choosing the depth andduration of promotions and discounts. |
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Value pricing (3) |
• Objective is to uncover the right blendof product quality, product costs, and product prices that fully satisfies theneeds and wants of consumers and the profit targets of the firm. • It should strike the proper balance amongthree key components: Product design and delivery, Product costs, Product prices • communicating value |
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Communicating value |
Marketers may need to engage in marketing communications to help consumers better recognize the value. |
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Price segmentation (2) |
• Sets and adjusts prices for appropriatemarket segments. • Because of wide adoption of the Internet,firms are increasingly employing yield management principles or dynamic pricingto vary their prices for different market segments according to their differentdemand and value perceptions. |
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Everyday low pricing (2) |
• Has received increased attention as ameans of determining price discounts and promotions over time. • Reasons for Price Stability: Forward buying & Diverting |
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Channel design (3) |
Classified into direct and indirectchannels: Direct: sell through personal contacts from thecompany to prospective customers by mail, phone, electronic means, andin-person visits Indirect: sell through third-party intermediariessuch as agents or broker representatives, wholesalers or distributors, andretailers or dealers |
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Indirect Channels (3) |
Retailers - Canhave a profound influence on the equity of the brands they sell, in terms ofthe brand-related services they can support or help create. Pull strategy - Consumers use theirbuying power and influence on retailers to “pull” the product through thechannel. Pushstrategy - Themanufacturer is attempting to reach the consumer by “pushing” the productthrough each step of the distribution chain. |
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Direct channels (4) |
• Company-owned stores - To gain controlover the selling process and build stronger relationships with customers: • Some manufacturers are introducing theirown retail outlets, as well as selling their product directly to customersthrough various means. • Store-Within-a-Store - This concept cantake hold through actual leasing arrangements or less formal arrangements wherebranded mini-stores are used. • Goal in all these situations is to find“win–win” solutions that benefit channel partners and consumers alike.OtherMeans - Sell directly to consumers via phone, mail, or electronic means |
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Advantages and disadvantages of direct channels |
Advantages: •They are a means to showcase the brandand all its different product varieties in a manner not easily achieved throughnormal retail channels.•Functioning as a test market to gaugeconsumer response to alternative product designs, presentations, and prices. Disadvantages: •Some companies lack the skills,resources, or contacts to operate effectively as a retailer.•Potential conflict with existing retailchannels and distributors. |
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Online Strategies (4) |
• Multichannel retailers were able toacquire customers at half the cost of Internet-only retailers, citing a numberof advantages : -They have market clout with suppliers. -They have established distribution andfulfillment systems. -They can cross-sell between Web sites andstores. |
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Pull Strategy |
Devoting marketing efforts to theend consumer |
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Push Strategy |
devote their selling efforts tothe channel members themselves, providing direct incentives for them to stockand sell products to the end consumer |
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Channel support |
•A number of different services providedby channel members can enhance the value to consumers of purchasing andconsuming a brand name product. •Important components of partnershipstrategies: Retail segmentation Branded variants &Cooperative advertising |
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Marketing Communication |
Meansby which firms attempt to inform, persuade, and remind consumers about thebrands they sell |
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Marketing communication can attribute to brand equity by (4) |
- Creatingawareness of the brandn - Linkingpoints-of-parity and points-of-difference associations to the brand inconsumers’ memory - Elicitingpositive brand judgments or feelings - Facilitatinga stronger consumer-brand connection and brand resonance |
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New media environment (4) |
- Haschanged dramatically in recent years - Traditionaladvertising media seem to be losing their grip - Digitalrevolution has changed the way consumers learn and talk about brands - Changingmedia landscape has forced marketers to re-evaluate how they should best communicatewith consumers |
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Challenges in Designing Brand-BuildingCommunications (5) |
- Skillfullydesigned and implemented marketing communications programs - Shouldbe efficient and effective - Requirecareful planning and creative knack - Shouldbe consistent (regardless of medium the brand’smessage should be the same) - Shouldbe integrated (regardless of medium the brandshould have a uniform look) |
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Fora person to be persuaded by any form of communication the following steps mustoccur: (6) |
Exposure- Seeing or hearing communication Attention- Noticing communication Comprehension- Understanding the intended message Yielding- Responding favorably tothe message Intentions- Planning to act in the desired manner of communication Behavior- Actually acting in the desired manne |
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Anideal advertisement campaign wouldensure: (6) |
•Theright consumer is exposed to the right message at the right place and at theright time. •Thecreative strategy for the advertising causes the consumer to notice and attendto the ad but does not distract from the intended message.•Thead properly reflects the consumer’s level of understanding about the productand the brand.•Thead correctly positions the brand in terms of desirable and deliverable points-of-differenceand points-of-parity. •Thead motivates consumers to consider purchase of the brand. •Thead creates strong brand associations to all these stored communication effectsso that they can have an effect when consumers are considering making apurchase. |
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Simple Test for Marketing CommunicationEffectiveness (3) |
1) Current brand knowledge 2) Communication 3) Desired brand knowledge |
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Advantages of multiple communications (2) |
- Optimalutilization of monetary and other resources - Differentcommunication options also may target differentmarket segments |
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Advertising (3) |
- Anypaid form of non-personal presentation and promotion of ideas, goods, orservices by an identified sponsor - Powerfulmeans of creating strong, favorable,and unique brand associations and eliciting positive judgments and feelings - Specificeffects are difficult to quantify and predict |
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Types of advertising media (5) |
Television Radio Direct Response |
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Television (4) |
Guidelines •Define the proper positioning to maximizebrand equity. •Identify the best creative strategy tocommunicate or convey the desired positioning. •Effective TV ad should contributeto brand equity in some demonstrable way. . |
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Television advantages and disadvantages |
Advantages •Effective means of vividly demonstratingproduct attributes and persuasively explaining their corresponding consumerbenefits. •Compelling means for dramaticallyportraying user and usage imagery, brand personality, emotions, andother brand intangibles. Disadvantages •Due to the fleeting nature of themessage, consumers can overlook product-related messages and the brand itself. •The large number of ads and nonprogrammingmaterial on television creates clutter that makes it easy for consumers toignore or forget ads. •Thelarge number of channels creates fragmentation, and the widespread existence ofdigital video recorders gives viewers the means to skip commercials. |
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Radio |
Guidelines • Identify your brand early in thecommercial. • Identify it often. • Promise the listener a benefit early inthe commercial. • Repeat it often. |
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Radio advantages and disadvantages |
Advantages •Is flexible and stationsare highly targeted. •Ads are relatively inexpensive to produceand place. •Effective medium in the morning and caneffectively complement or reinforce TV ads. •Enables companies to achieve a balancebetween broad and localized market coverage. Disadvantage •Lack of visual image. •Relatively passive nature of consumerprocessing. |
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Creative guidelines for print ads arethat of clarity, consistency, and branding |
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Print advantages and disadvantages |
Advantages •Self-paced, provides detailed productinformation. •Magazines are particularly effective atbuilding user and usage imager. •Newspapers are more timely and pervasive Disadvantages Poorreproduction quality and short shelf life diminish some of the possible impactof newspaper advertising. |
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Direct Response |
Guidelines • Develop an up-to-date and informativelist of current and potential future customers. • Put forth the right offer in the rightmanner. • Track the effectiveness of the marketingprogram. • Precision marketing - Combiningdata analytics with strategic messages and compelling colorsanddesigns in their communication. |
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Direct response advantages |
Advantages •Makes it easier for marketers toestablish relationships with consumers. •Allows marketers to explain newdevelopments with their brands to consumers on an ongoingbasis. •Allows consumers to provide feedback tomarketers about their likes and dislikes. |
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Place |
•Known as “non-traditional,”“alternative,” “support” or out- of- home advertising •Marketers reach out to people inenvironments, where they work, play, and, of course, shop Guidelines • As the audience must process out-of-homeads quickly, the message must be simple and direct. • Marketers must stress on creative meansof placing the brand in front of consumers. |
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Place advantages |
Advantages • Can reach a very precise and captiveaudience in a cost-effective and increasingly engaging manner. • More effective at enhancing awareness orreinforcing existing brand associations than at creating new ones. |
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Promotion (2) |
•Are short-term incentives to encouragetrial or usage of a product or service. •Are designed to change the behavior ofthe: - Trade so that they carry the brand andactively support it. - Consumers so that they buy a brand forthe first time, buy more of the brand, or buy the brand earlier or more often. |
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Consumer Promotions (3) |
• Designed to change the choices, quantity,or timing of consumers’ product purchases. • Customer franchise building promotionscan affect brand loyalty. • Marketers evaluate sales promotions bytheir ability to contribute to brand equity and generate sales. |
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Types of consumer promotions (2) |
-Customer franchise building promotionslike samples, demonstrations, and educational material. - Noncustomerfranchise building promotions such as price-off packs, premiums, sweepstakes,and refund offers. |
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Trade promotions (2) |
• Financial incentives given to channelmembers to facilitate the sale of a product through slotting allowances,point-of-purchase displays, contests and dealer incentives, training programs,trade shows, and cooperative advertising. • Designed either to secure shelf space anddistribution for a new brand, or to achieve more prominence on the shelf and inthe store. |
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Promotions advantages (4) |
-Permitmanufacturers to charge different prices to groups of consumers who vary intheir price sensitivity -Conveya sense of urgency to consumers -Canbuild brand equity through actual product experience -Encouragethe trade to maintain full stocks and support the manufacturer’s merchandisingefforts |
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Promotions disadvantages (5) |
-Decreasedbrand loyalty and increased brand switching -Decreasedquality perceptions, and increased price sensitivity -Inhibitthe use of franchise-building advertising -Divertmarketing funds into sales promotion can lead to reductions in other key areas -Increasethe importance of price as a factor in consumer decisions¤Maysubsidize buyers who would have bought the brand anyway |
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Advantages of marketing on the web (3) |
•Low cost, greater levelof detail and higher degree of customization. •Can accomplish almost any marketingcommunication objective •Valuablein terms of solid relationship building. |
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Web sites (2) |
•Encourages the collaborative effortrequired for brand building, betweenconsumers and marketers. •Marketers must carefully monitordifferent forums and Web site pages that mayinclude ratings, reviews, and feedback on brands. |
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Online ads and videos advantages and disadvantages |
Use banner ads, richmedia ads, and othertypes of ads for the purpose of advertisement. Advantages •Accountable •Nondisruptive •Targets consumers such that only the mostpromising prospects are contacted, who can seek information as they desire. Disadvantage Consumers may ignore banner ads andscreen them out with pop-up filters. |
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Advantages and disadvantages of social media |
Advantages •Allows brands to establish a public voiceand presence on the Web. •Complements and reinforces othercommunication activities. •Helps promote innovation and relevancefor the brand. •Provide an easy means for consumers tolearn from and express attitudes and opinions to others. Disadvantage Not everyone actively participates insocial media. |
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Event marketing |
Publicsponsorship of events or activities related to sports, art, entertainment, orsocial causes |
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Mobile marketing |
Productadvertising on various mobile platforms |
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Geotargeting |
Marketerssend messages to consumers based on their location and the activities they areengaging in |
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Opt in advertising |
Usersagree to allow advertisers to use specific, personal information send themtargeted ads and promotions |
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Brand amplifiers |
Amplifythe effects created by other marketing activitiesthrough: -Publicrelations and publicity -Word-of-mouth -BuzzMarketing |
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Publicity |
•Nonpersonalcommunications such as press releases, media interviews, press conferences,films, and tapes. |
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Public relations |
•Include annual reports, fund-raising andmembership drives, lobbying, special event management, and public affairsfeature articles, newsletters, photographs, films, and tapes. |
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Word of mouth (3) |
•Critical aspect of brand building. •Consumers share likes,dislikes, and experiences with each other. •Assures greater degree of credibility andrelevance. |
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Buzz marketing |
•Various techniques marketers apply to getpeople notice and talk about the brand. |
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Coverage |
Proportion of the audience reached byeach communication option, as well as how much overlap exists amongcommunication options. |
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Contribution |
Inherent ability of a marketingcommunication to create the desired response and communication effects fromconsumers in the absence of exposure to any other communication option |
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Commonality |
Extent to which common informationconveyed by different communication options shares meaning across communicationoptions |
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Complementarity |
Describes the extent to which differentassociations and linkages are emphasized across communication options |
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Conformability |
Extent that a marketing communicationoption is robust and effective for different groups of consumers. |
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Two types of conformability |
Communication conformability - Ability ofthe mode of communication to effectively communicate with the diverse group ofcustomers. Consumer conformability - Ability of the communication option to informor persuade consumers who vary on dimensions other than communication history. |
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Cost |
To arrive at the most effective andefficient communication program evaluationsof marketing communications on all of the preceding criteria must be weighedagainst their cost |
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Linking the brand to some other entitymay (2) |
-Createa new set of associations from the brand to the entity -Affectthe existing brand associations |
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Effects on Existing Brand Knowledge (3) |
-Cognitive consistency -Factors predicting the extent of leveragefrom linking the brand to another entity - BrandAssociations may themselves be linked to other entities, creating secondaryassociations: |
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Cognitive consistency |
Whatis true for the new association must be true for the brand |
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Factors predicting the extent of leveragefrom linking the brand to another entity (3) |
•Awarenessand knowledge of the entity. •Meaningfulnessof the knowledge of the entity.•Transferabilityof the knowledge of the entity. |
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Consumerschoose brands originating in different countries based on (3) |
-Theirbeliefs about the quality of certain types of products from certain countries -Theimage that these brands or products communicate -Cancreate strong points-of-difference |
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Channels of distribution |
-Retailstores can indirectly affect brand equity through an “image transfer” process -Retailershave their own brand images in consumers’ minds due to the following associations -Customerbase can be expanded by tapping into new channels of distribution |
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Co branding |
Whentwo ormore existing brands are combined into a joint product or are marketed togetherin some fashion |
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Ingredient baking (3) |
-Createsbrand equity for materials, components, or parts that are contained withinother branded products -Brandedingredients are often a signal of quality -Uniformityand predictability of ingredient brands can reduce risks and reassure consumers Example: BettyCrocker paired with Hershey’s to make a chocolate cake mix |
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Licensing (2) |
-Createscontractual arrangements whereby firms can use: Names,logos, and characters of other brands to market their own brands for some fixedfee -Canalso provide legal protection for trademarks |
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Corporate trademark licensing (2) |
-Licensingof company names, logos, or brands for use on various, often unrelated products Risk- Product may not live up-to the image established by the brand |
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Firms may license corporate trademarks to (4) |
-Generateextra revenue and profits -Protecttheir trademarks -Increasetheir brand exposure -Enhancetheir image |
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Celebrity endorsement (2) |
Afamous person can: -Drawattention to a brand -Shapebrand perceptions, by virtue of consumers perceptions of the famous person Celebrityendorsers should have: -Ahigh level of visibility -Arich set of potentially useful associations, judgments, and feelings -Q-Ratingsto evaluate celebrities |
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Sporting Cultural or Other Events contribute to equity by (3) |
-Becomingassociated to the brand and improving brand awareness -Addingnew associations -Improvingthe strength, favorability,and uniqueness of existing associations |
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Third party sources |
Involveslinking the brand to various third party sources Example- GreyGoose's eventual success was a taste-test result from the Beverage TestingInstitute that ranked Grey Goose as the number-one imported vodka J.D.Power and Associates ConsumerReports AmericanDental Association |
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The new accountability (4) |
•Conducting Brand Audits •Brand Inventory •Brand Exploratory •Brand Positioning and the SupportingMarketing Program |
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Brand audit |
Comprehensiveexamination of a brand to discover its sources of brand equity |
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Marketing audit |
Internal,company-focused exercise to make sure marketing operations are efficient andeffective. |
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Brand Inventory |
Comprehensiveprofile of how all the products and services of a company are marketed andbranded Rationale •Helpsunderstand consumers’ perceptions. •Providesanalysis and useful insights into how brand equity may be better managed. •Revealsthe extent of brand consistency and lack of perceived differences amongdifferent products sharing the brand name. •Helpsuncover undesirable redundancy and overlap that could lead to consumerconfusion or retailer resistance. |
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Brand exploratory |
Steps for brand exploratory: •Study prior research. •Interview internal personnel. •Conduct additional research. |
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Preliminary activities (3) |
•A number of prior research studies mayexist and be relevant. •It is useful to interview internalpersonnel to gain an understanding of their beliefs about consumer perceptionsfor the brand and competitive brands. •Additional research is often required tobetter understand how customers shop for and use different brands and what theythink and feel about them. |
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Interpreting qualitative research |
Qualitative research should: •Vary in direction and depth as well as intechnique. •Provide accurate interpretation. •Ask specific questions, so as to narrowthe range of information given by the respondents. •Ask open ended questions for freer andless constrained responses. Mental maps and core brand associations |
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Mental map |
Accurately portrays in detail all salientbrand associations and responses for a particular target market. |
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Core brand associations |
Abstract associations that characterizethe 5 to 10 most important aspects or dimensions of a brand |
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Conducting quantitate research (3) |
•Assess all potentially salientassociations identified by the qualitative research phase according to theirstrength, favorability,and uniqueness.•Examine both specific brand beliefs andoverall attitudes and behaviors toreveal potential sources and outcomes of brand equity. •Assess the depth and breadth of brandawareness by employing various cues.Conductsimilar types of research for competitors to better understand their sources ofbrand equity and how they compare with the target brand. |
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Ideal brand positioning aims to achievecongruence between (4) |
-Whatcustomers currently believe about the brand -Whatcustomers will value in the brand -What the firm is currently saying about the brand -Wherethe firm would like to take the brand |
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Designing Brand Tracking Studies |
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Brand equity management system |
Setof organizational processes designed to: •Improve the understanding of brandequity.•Use of the brand equity concept within afirm. |
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Brand Charter (4) |
•The Brand Charter is like the Brand bible•Should involve all of the marketingshareholders•Provides decision makers with a currentbrand profile and to help identify new opportunities and potential risks forthe brand •Suggesthow marketers should manage brands with some general strategic guidelines,stressing clarity, consistency, and innovation in marketing thinking over time. •Should be updated on an annual basis asproducts, programs, etc. for the brand change |
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Brand equity report |
Contents A brand equity report shoulddescribe: •What is happening with the brand? •Why is it happening? •Should include more descriptivemarket-level information. Dashboards •How the information is presented •Should it include brand tracking, CRMprograms, tradeshows, media reports, satisfaction studies, Web logs, etc. |
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Qualitative Research Techniques |
-Free associations -Brand and personality values -Projective Techniques -Brand and personality values -ZaltmanMetaphor Elicitation Technique -Ethnographic and Experiential Methods |
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Free Associations (5) |
-Powerfulway to profile brand associations -Withoutany specificprobe, consumers narrate whatcomes to their mind when they think about the brand or the associated productcategory -Helpform a rough mental map for the brand -Indicatethe relativestrength, favorability,and uniqueness of brand associations -Forexample, “What does the name Domino’s mean to you?” or “Tel me what comes tomind when you think of Domino’s pizza?” |
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Projective Techniques |
-Diagnostictools to uncover the true opinions and feelings of consumers when theyare unwilling or unable to express themselves -Presentconsumers with ambiguous stimulus and ask them to make sense of it |
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Types of Projective Techniques (3) |
•Completion and Interpretation Tasks •Comparisons Task •Archetypes |
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Completion and Interpretation Tasks |
•Projective techniques involvingincomplete or ambiguous stimuli to elicit consumer thoughts and feelings. |
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Comparison tasks |
Consumers conveytheir impressions by comparing brands to: •People, countries, animals, activities, fabrics,occupations, cars, magazines, vegetables, nationalities, or even other brands |
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Archetypes |
•Fundamental psychological association,shared by the members of the culture, with a given cultural object. •Technique for eliciting deeply heldconsumer attitudes and feelings. |
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Brand personality |
Humancharacteristics or traits that consumers can attribute to a brand |
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The big five |
Brandpersonality scale used to measure: -Sincerity -Excitement -Competence -Sophistication -Ruggedness |
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Zaltman Metaphor Elicitation Technique(ZMET) (3) |
-Uncovershidden thoughts and feelings which can be expressed using metaphors -Elicitsinterconnected constructs that influence thought and behavior -Construct-An abstraction to capture common ideas or themes expressed by customers |
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ZMET: Theguided conversation consists of a series of steps that includes some or all ofthe following: |
-Storytelling -Missedimages -Sortingtask -Constructelicitation -Themost representative picture -Oppositeimages -Sensoryimages -Mentalmap -Summaryimage¤Vignette¨ |
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Ethnographic and ExperientialMethods (2) |
-Bytapping more directly into their actual home, work, or shopping behaviors,researchers might be able to elicit more meaningful responses from consumers. -Whatconsumers DOcan often be more accurate than what they SAY |
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Jam experiment |
Shoppers were presented with jam at thegrocery store. Some shoppers saw a display that included 6 different flavors;others encountered a display that offered 30. There was little difference inthe taste testing behaviors of the shoppers at either table. However, thirtypercent of those individuals who visited the table that offered only sixchoices actually purchased jam,while a mere three percent made purchases after visiting the table that offered24 options.According to the researchers, “Eventhough consumers presumably shop at this particular store in part because ofthe large number of selections available, having “too much” choice seemsnonetheless to have hampered their later motivation to buy.” |
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Student extra credit experiment |
offered students the opportunity to writean extra credit paper for a class. No information on the way the essay would begraded was offered; instead, the assignment was essentially “choose from thislist of topics and write two pages about it.” Again, some students were givensix topic options; others were given a list of thirty from which to choose.This time, not only did more studentscomplete the assignment who were given six options, but they also wrote papersof higher quality. Across the board, those students who had fewer optionsparticipated in droves and elected to perform at a higher level. |
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Quantitative Research Techniques (4) |
•Brand Awareness •Brand Image •Brand Responses •Brand Relationships |
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Brand Awareness (4) |
-Recognition -Recall -Correctionsfor guessing -Strategicimplications |
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Recognition (2) |
•Requires consumers to identify the brandunder a variety of circumstances. •Can rest on the identification of any ofthe brand elements.Speciallyimportant for packaging. |
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Recall (4) |
•Demonstrated when consumers are able toretrieve a brand element from memory, when given some related probe or cue. •Unaided recall •Aided recall •Measuresof recall based on product attribute or category cues and situational or usagecues give an indication of breadth and depth of recall. |
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Corrections for guessing |
Problemmay be especially evident with certain types of aided awareness or recognitionmeasures for the brand. |
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Strategic implications (2) |
•Yieldsinsight into how brand knowledge is organized inmemory. •Identifiescues or reminders necessary for consumers to retrieve the brand from memory. |
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Brand Association (3) |
-Descriptivethoughts that a person holds about something -Specific attributes and benefits linkedto the brand and its competitors. -Can be assessed on the basis of three keydimensions:•Strength•Favorability •Uniqueness |
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Multidimensional Scaling |
•Procedure for determining the perceivedrelative images of products or brands. •Transforms consumer judgments ofsimilarity or preference into distances in perceptual space. |
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Brand Responses |
•Purchase Intentions •Likelihood to Recommend |
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Purchase Intentions |
•Determined by brand attitudes andconsideration. •Predictive of actual purchase when thereis correspondence between any two of the following factors: •Action•Target•Context•Time |
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Likelihood Recommend |
How likely is it that you would recommendthis product or service to a friend or colleague? |
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Brand Relationships |
Characterizedin terms of brand resonance and measures for following key dimensions -Behavioralloyalty -Attitudinalattachment -Senseof community -Activeengagement |
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Behavioral loyalty |
To capture reported brand usage andbehavioralloyalty marketers can: • Ask consumers past purchase history andfuture purchase intentions. • Make their measures open ended. • Force consumers to choose one of twobrands.• Offer multiple choice or rating scales. |
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Attitudinal attachment |
Can be defined in of the followingunderlying constructs • Brand-self connections • Brand prominence |
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Sense of community |
Social currency- The extent towhich people share the brand or information about the brand as part of theireveryday social lives at work or at home. |
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Active Engagement |
Extent to which consumers arewilling to invest their resources of time, energy and money on the brand beyondthose resources expended during purchase or consumption of the brand. |
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MillwardBrown’sBrand Dynamic Model |
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Young & Rubicam’s Brand AssetValuator (BAV) |
Eachpillar is derived from various measures that relate to different aspects ofconsumers’ brand perceptions and that together trace the progression of abrand’s development. -Differentiation -Relevance -Esteem -Knowledge |
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How brands develop |
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