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187 Cards in this Set
- Front
- Back
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Components Of A Corporate Image
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Tangible Elements
Intangible Elements |
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The Role Of A Corporate Image – Consumer Perspective
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Assurance in unfamiliar settings
Assurance where little experience Reduction in search time Psychological reinforcement and social acceptance |
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The Role Of A Corporate Image – Business-to-Business Perspective
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Risk reduction
Search time reduction Psychological reinforcement and social acceptance Reduces risk and uncertainty in international transactions |
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The Role Of A Corporate Image – Company Perspective
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Positive feelings to new products
Ability to charge a higher price Consumer loyalty Positive word-of-mouth Attract quality employees Favorable financial ratings |
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PROMOTING THE RIGHT IMAGE
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Creating The Right Image
Rejuvenating An Image Changing An Image Conveying An Image To Business Customers |
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Corporate name
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overall banner under which all operations occur
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Types of Names
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Overt names
Implied names Conceptual names Iconoclastic names |
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Logo
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Distinctive mark that identifies the corporation
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Benefits of Logo Recognizability
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Aids in recall of specific brands.
Aids in recall of advertisements. Reduces shopping effort. Reduces search time and evaluation of alternatives. |
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Brand Parity
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Few tangible distinctions between brands in a mature market.
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Brand Equity
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Set of characteristics that are unique to a brand.
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Benefits of Brand Equity
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Higher prices & gross margins
Channel power & additional shelf space Reduces switching behavior & erosion of market share |
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Co-Branding
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Ingredient branding
Cooperative branding Complementary branding |
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Ingredient branding
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Placement of a brand within another
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Cooperative branding
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Joint venture of two or more brands for new product
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Complementary branding
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Two brands to consider co-consumption
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Image
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based on consumer's feelings
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Brand Names
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Applied to a product or service or a group of them
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Family Brand
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A company offers a series or group of products under one brand name.
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Logos and Names should....
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be easily recognizable
be familiar elicit consensual meaning evoke positive feelings |
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Stimulus Codability
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A logo can elicit consensual meaning
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Market Penetration
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Number of households within an area that purchased a product
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Brand Metrics
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Measures of returns on branding investments
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Brand Extension
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Use of established name on something unrelated
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Flanker Brand
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development of a new brand by a company with a similar brand in that category
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Consumer Purchasing Processes
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Problem Recognition
Info Search Evaluation of alternatives the purchase decision Postpurchase evaluation |
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Info Search Begins with...
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Internal search
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Evoked set
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Consists of a set of brands that the consumer considers during the info search
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External Search time depends on...
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ability
motivation costs benefits |
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Motivation is determined by...
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Level of involvement
Need for cognition level of shopping enthusiam |
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Involvement
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extent to which a stimulus is relevant to a consumer's needs
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Enduring involvement
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purchase situation is always important
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Situational Involvement
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based on a temporary situation
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Need for cognition
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When a person enjoys mental activities
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Costs of the search
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Actual cost
Subjective cost Opportunity Cost |
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Attitude
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Mental position taken toward a topic
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Three components of attitudes
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affective
cognitive conative |
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Cognitive
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Mental images
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Affective
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feelings and emotions
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Conative
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intentions, actions, behavior
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Order of attitudes
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Cognitive>Affective>Conative
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Values
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Strongly held beliefs
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ELM
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Simulation of decision making process
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two routes of ELM
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Central processing route
Peripheral route |
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Two factors that determine what route to chose
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motivation and ability
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Key in peripheral route
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Repetition
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HEM
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Maximize pleasure and minimize pain
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Cognitive maps
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Simulations of knowledge structures in our brains
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Features of cognitive maps
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Levels and layers
factors that affect existing linkages situations in which a message has no current linkages |
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Evoked set components
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Inept set
Inert set |
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Inept set
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Brands not considered because of negative feelings
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Inert Set
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neither negative or positive feelings about
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Multiattribute approach is determined by
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performance on each attribute
Importance of each attribute |
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Affect Referral
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Evaluation method of purchase alternatives.
consumers choose which brand they like best |
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Shift away from evaluation process
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Change in consumer's situation
Desire for variety impulse purchase marketing material WOM |
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Postpurchase cognitive dissonance
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doubt after purchases
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Traditional factors influencing purchasing behavior
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Demographics
Heredity Family life cycle life-changing events cultural environment social environment situational environment |
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Utility
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Value of an item
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New Trends in buyer behavior
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Change in values and attitudes
Time pressure Cocooning pleasure binges desire for excitement emphasis on health clanning |
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Phased Heuristics
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combo of compensatory and conjunctive
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Compensatory Heuristics
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No one brand will score high on every desirable attribute
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Conjunctive Heuristics
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establishes a minimum threshold
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postpurchase evaluation
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evaluate product performance
cognitive dissonance impacts future purchases impacts WOM |
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B2B sales
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Straight rebuy
Modified rebuy New task |
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Dual channel Marketing
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Consumer B2B markets
Spin off image concerns dual strategy single strategy |
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Dual Strategy
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Different communication messages
create different brands use different channels |
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Single Strategy
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Integrate communicate message
sell same brand in both markets scan both markets for dual opportunities |
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Two ways to address business customers buying products
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list the products
identify the different types of customers |
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Promotion Opportunity Analysis
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Conduct a communications marketing analysis.
Establish objectives. Create a budget. Prepare a promotional strategy. Match tactics with strategy. |
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Conduct a Communication Market Analysis
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Competitive analysis
Opportunity analysis Target market analysis Customer analysis Positioning analysis |
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Competitive Analysis
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Identifies major competitors.
Identifies communication strategies and tactics of each competitor. |
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Sources of information
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Secondary data
Other people Primary research |
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Opportunity Analysis
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Are there customers that the competition is ignoring?
Which markets are heavily saturated? Are the benefits of our products being clearly articulated? Are there opportunities to build relationships using a slightly different marketing approach? Are there opportunities that are not being pursued? |
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Target Market Analysis
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What benefits does each target market want from the product?
How can each target market be reached? What appeal works best for each target market? What needs of the target market are not being met by a competing firm? What is the demographic and psychographic makeup of each target market? |
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Three Types of Customers
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Current company customers.
The competitors’ customers. Potential customers |
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Establish Communication Objectives
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Develop brand awareness
Increase good/service category demand Change customer beliefs or attitudes. Enhance purchase actions Encourage repeat purchases Build customer traffic Enhance firm image Increase market share Increase sales Reinforce purchase decisions |
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Budgeting Assumptions
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Threshold effects:
Concave downward function: Marginal analysis: Carryover effect: Decay effect: Random events: |
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Decay effect
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When consumers forget about the company after advertising stops.
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Carryover effect:
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Promoting for products only purchased when needed comes to mind when it is time to buy.
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Marginal analysis:
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At some point additional advertising expenditures will have an adverse effect on profits.
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Concave downward function:
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An incremental expenditure in advertising will result in lower increases in sales.
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Threshold effects:
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For new products, initial ads yield little behavioral response. With time and exposures, recall and willingness to purchase increase.
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Methods of Determining the Marketing Communications Budget
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Percentage of sales
Meet-the-competition “What we can afford” Objective and task Payout planning Quantitative models (computer simulations) |
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Communication strategies:
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Broad, long-term guidelines for the marketing communications program.
Linked to opportunities and threats identified by the communication market analysis. Fit with the company’s overall message, image and themes. |
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Tactics
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Tactics support the communication strategies.
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Market segmentation:
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Identifying specific purchasing groups based on their needs, attitudes, and interests.
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Market segment:
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A set of businesses or group of individuals with distinct characteristics.
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Tests to determine if a particular market segment is viable
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Homogenous
Different from the population as a whole and distinct from other market segments. Large enough to be financially viable Reachable through some type of media or marketing communications method. |
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Geodemographic Segmentation
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Combines census data with psychographic information.
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Usage segmentation
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based on customer usage or purchases.
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Customer categories
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Manufacturing
Governmental Institutional Wholesalers Retail International |
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Buying Center
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A group of individuals involved in a buying decisions
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Five roles of buying center
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users
buyers influences deciders gatekeeper |
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Gatekeeper
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Controls the flow of information
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Factors affecting buying decisions of members
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Organizational
Individual Social Cultural |
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Organizational influences
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company's goals
operating environment |
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Individual Factors
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Personality
roles motivational levels levels of power attitudes involvement personal objectives |
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Norms
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rules of behavior
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Straight Rebuy
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Firm has previously chosen a vendor and wishes to make a reorder
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Modified Rebuy
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When a company may need to consider other opportunities
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New Task
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Purchasing a product or service for the first time
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Derived Demand
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derived from the production of some other G/S
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Acceleration Principle
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A small Increase for a product can have extreme impact on other products
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Joint Demand
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Similar demand forces influence component products
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Three choices of for developing credit
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In-house
Not offer it to e-commerce customers Have external firm provide service |
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Evaluation of Vendors
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Initial screening
Vendor Audit share audit info |
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Branding Issues
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Internet
Brand Parity multiple vendor choices |
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Three ways to build B2B brand
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Explain Brand clearly
Nothing confusing Find differences Look at customer database Embrace the future of the brand |
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Three individuals buying media
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CEOs
Top management C-Level |
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Dual Channel Marketing
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Sell same products to both consumers and businesses
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Tactics for different channels
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Use different communication methods
create different brands use multiple channels |
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Tactics for single strategy
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Integrating communication methods
Selling the same brand in both markets Scanning both markets for dual marketing opportunities |
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advantages of integrating consumer markets
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Synergies
Economies of scale |
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Synergies
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Arise from increased brand identity
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Promotions opportunity Analysis
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Process to identify target audiences
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Positioning
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creating a perception in customer's mind
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Sales response function curve
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S-shaped curve that indicates when threshold effects are present
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Benchmark measures
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starting points that are measured to the degree of change
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Marginal Analysis
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A model that shows when additional expenditures have an averse affect
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carryover effects
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remembering the key component of an ad when it is time to buy
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Wear out effects
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occurs when a product becomes old
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Decay effects
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occur when a company stops advertising and people forget about it
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Meet the competition
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prevent the loss of market share
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arbitrary allocation
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management estimates of what is needed
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payout planning
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ratio of advertising to sales or market share
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Psychographics
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reveal person's attitudes
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cultural assimilator
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Person Familiar with a culture with a culture, helps with marketing
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Objectives of promotions opportunity analysis
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Determine which opportunities exist
identify characteristics of target audience |
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Marketing Objectives
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Sales volume
increases in sales volume Market Share Profits ROI |
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Communications Objectives
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Reaching target audiences
displaying product features positioning against competitors generating against individual responses |
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Best Budget
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Objective and task
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NAICS
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Segmentation by industry
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Segmentation Methods
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Industry
Business Size Geographic Location Product Usage Purchase decision Process Customer Value |
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Message Theme
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outline of key ideas the ad is supposed to display
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Leverage Point
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Taps into consumer's personal value system
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Appeal
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how leverage point and theme combine to attract attention
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Executional framework
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how the message will be delivered
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Advertising management program
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preparing ads with the overall message in mind
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General preplanning input
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provides understanding an background before preparing the ad campaign
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Major selling idea
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primary message concerning the project
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Qualitative
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Opinions
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VAL
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research designed to predict consumer behavior
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Personal drive analysis
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helps researcher understand psychological drives
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Advertising account executive
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go-between for ad agency and client company
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creatives
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develop and produce ads
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Top choice
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first or second choice when a consumer reviews his or her evoked set
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Puffery
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use of an exaggerated claim
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Promotional Campaign
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combine ads with other marketing efforts
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support
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facts that substantiate a unique selling point
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constraints
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legal and mandatory restrictions placed on ads
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The Creative Brief
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The objective.
The target audience. The message theme The support. The constraints. |
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Theater of the mind
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Radio
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B2B Advertising:
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Targeted at individuals who buy or influence the purchase of industrial goods or services.
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Professional Advertising:
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Targeted to professionals such as doctors, lawyers or dentists to encourage them to use a company’s product or recommend a product to end-users.
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Trade Advertising:
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Targeted to marketing channel members such as wholesalers, distributors, and retailers to encourage channel members to stock, promote, and resell the merchandiser’s branded products to their customers
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Advertising Appeals
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Fear
Humor Sex Music Rationality Emotions Scarcity |
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Humor Appeal
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Used in 30% of all advertisements.
Excellent at capturing attention. Score high in recall tests. Should be related directly to customer benefit. |
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Decision Variables
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Size of account
Money that can be spent objectivity factor complexity creativity |
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Cognitive
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Generic
Preemptive Unique Selling Proposition Hyperbole Comparative |
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Preemptive messages
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Claims of superiority
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Unique selling proposition
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Testable claim of uniqueness or superiority
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Hyperbole
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An un-testable claim
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Comparative advertisements
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Directly or indirectly comparison to the competition
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Affective
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Resonance
Emotional |
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Resonance advertising
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Connect a product with a consumer’s experiences
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Emotional advertising
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Powerful emotions lead to product recall and choice
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Conative
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Action-inducing
Promotional support |
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Brand
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Brand user
Brand image Brand usage Corporate |
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Brand user strategies
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Focus on type of individuals that use a brand
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Brand usage strategies
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Stressing uses for a particular brand
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Corporate advertising
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Promoting corporate name and image rather than individual brand
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Animation
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Use has increased due to computer
graphics technology. Rotoscoping. Clay animation. |
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Slice-of-life
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Provide solutions to everyday problems
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Slice-of-life components include:
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Encounter
Problem Interaction Solution |
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Dramatization
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Higher level of excitement and suspense (compared to slice-of-life) to tell the story
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Testimonials
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A character tells about a positive experience with a product.
Greater credibility than self-proclamations. Perceived as more credible than paid endorsers |
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Authoritative
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Convince viewers that a product is superior to other brands using an authoritative source.
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Demonstration:
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Show how the product works.
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Fantasy
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Lift audience to a make-believe experience.
Most common are sex, love, and romance. |
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Informative
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Straightforward
Extensively used for radio advertisements |
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Spokespersons
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Celebrities
CEOs Experts Typical persons |
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Expert Spokesperson
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Tend to not be famous celebrities or CEOs
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Typical Person Spokespersons
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Paid actors or models
Everyday people |
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Principles of Effective Advertising
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Visual consistency.
Campaign duration. Repeated taglines. Consistent positioning. Simplicity. Identifiable selling point. |
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Message Strategy
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primary tactic used to deliver message theme
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Cognitive message strategy
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use rational arguments
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Preemptive messages
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claims of superiority
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