IMC 4550: Exam 1

Oldest Trademark Brand

"Bass"

Changes in Channel Power: Consumers

*Internet shifts power to consumers*, multiple methods of making purchases - price checking (app), word of mouth

Changing an image

-Extremely difficult, think of KFC -target market declines and product no longer matches trend -requires more than advertising -begins internally, then moves outward

Reason for increases in global competition

-Info technology, air travel and communication have changed the marketplace -products can be purchased from different places -customers want both low prices and high quality -Manufacturers and retailers need to work together

How has the media changed?

-Wide variety of media, In 1960 you could reach 80% of US women in one 30-sec commercial. Now it takes 100s of channels to do that.

Brand manager and what they do

-control the brand through multiple platforms on the brand wheel -The chief storyteller -- you want to *protect, collect and tell your story* ---every brand is a story (good or bad) -P&G invented the job for each soap they sold

Trends affecting consumer buying behavior

-digital marketing (transactional) -minimalism (experiences vs. stuff) -age complexity -gender complexity -busy lifestyles -diverse -Health emphasis (maintaining youthful appearance, Fit lifestyle) EX: more ppl want to be healthy so they are choosing to drink wine over beer

What would make a marketing campaign NOT be integrated?

-no objectives -no plan -no segmentation or target market -no USP -no measurement or evaluation -too much money -too many ad agencies -too many brand managers etc.

What can noise be considered?

-there are up to 5,000 messages per day -talkin on the phone during a commercial -driving while listening to the radio -being offended by a message so you tune it out. -scroll past internet ads on social media site

Interbrand's Top 100 Brands 2015

1) Apple 2) Google 3) Coca-Cola 4) Microsoft 5) IBM 6) Toyota 7) Samsung 8) General Electric 9) McDonald's 10) Amazon 11) BMW 12) Mercedes-Benz 13) Disney 14) Intel

Steps of a Marketing Plan

1. Current Situational Analysis (5 C's: Company, competitors, collaborators, customer, context) 2. SWOT Analysis 3. Marketing Objectives (Revitalize, Launch, Grow) 4. Marketing Strategies (Segmentation, Targeting & Positioning) 5. Marketing Action Plan Tactics (4P's) - WHERE IMC LIVES 6. Implementation 7. Evaluation of Performance

Consumer Decision Making Process

1. Problem Recognition 2. Information Search 3. Evaluation of Alternatives 4. Purchase Decision 5. Postpurchase Evaluation

The top two most valuable brands by country in 2017

1. US - Google 2. South Korea - Samsung

Marketing is about...

1. trying to find out what customers like 2. consistently selling the unique selling proposition, providing it to consumers and doing so profitably

Costs vs. Benefits

Actual cost (gas, product cost), Subjective cost - time, anxiety, worth your time? Opportunity cost

Benefits of Brand Logos

Aids in recall of specific brands & advertisements, reduces shopping effort & search time - evaluation of alternatives

Ethical Issues w/ private brands

Brand infringement, brand name becomes a generic term (Kleenex brand facial tissue vs. Tissue), domain or cyber squatting

Miracle Whip example of getting peoples attention

Branding themselves as "not everyone's favorite" got people talking on social about why they hated or loved miracle whip their IMC included: print, youtube videos, social media, free samples, marketers interacting with consumer on streets

Brand Parity

Brands viewed as being equivalent, consumers select from a group of brands - quality & characteristics less important, price more important, decline in brand loyalty ex: Cheez its and savoritz

Common IMC platforms (Don's big chart)

Categories: advertising, sales promos, events and experiential, public relations, digital and social, direct and database & personal selling

Taco Bell Cognitive Mapping "Quiet" Campaign

Cognitive New Concepts: Healthy Fast Food Options, "Cantina Bell" Menu, "drive-thru diet menu," Consumers know Taco Bell has fast food but never thought of it as a healthy fast food place - possibility of linkage, no linkage, or recall for later

Who controls brand meaning?

Competition tries to define you, blogs, word of mouth, personal memories Brand manager often do not control what their brand means but they try EX: backlash from Blackfish documentary Why ISIS drives Toyota trucks

Content Grazing (second screen idea)

Consumer looking at two or more screens simultaneously

Quantum Journey

Consumer sees ad on TV, searches on phone, orders on phone

Social Spider-webbing

Consumer shares content across multiple devices

Investigative spider-webbing

Consumer watching TV & searching facts about the actor

Affect Referral

Consumers choose brands they like the best or the ones with which they have *emotional connections*- they do not evaluate brands or think about product attributes. Strictly off of taste/positive feeling i.e. toothpaste, chewing gum, soft drinks, candy Saves mental energy, already has bond w/ brand (jeans) - probably used multi attribute approach choosing Philadelphia cream cheese over private generic

Hearing (Sensation & Perception) can...

Convey a brand (Harley-Davidson, Southwest, distinctive sound)

Touch (Sensation & Perception) can...

Convey brand imagery; well designed products compared to value designed products, ergonomics, clean lines, simplicity, beauty, sensual experiences, etc.

Integrated Marketing Communications

Coordination & integration of all marketing tools, avenue, and sources in a company into a seamless program designed to maximize the impact on customers and other stakeholders. Covers B2B, market channel, customer focused and internally directed communication. Words matter

Intangible Elements of Brand Image

Corporate Personnel: ideals, beliefs, conduct; environmental policies, corporate culture, country location, media reports ... things that change or enhance the brand's image in the consumer's mind

Customer Engagement Emphasis

Customer relationship Management - Marketers seek to engage customers with contact points, two-way communication, on-going dialogue w/ customers (one-to-one marketing), digital media now apart of IMC EX: Dove Real Beauty Sketches

Taste (Sensation & Perception) can...

Distinguish one brand from another (Coke v. Pepsi)

Advantages of National Brands

Draw consumers to store, coop-advertising, inventory, manage stock, prestige, quality control, automatic replenishment

Sequence: Cognitive -> Affective -> Conative

Drunk driving, safety, "Honk if you love Jesus, text to meet him" The affective part of the attitude carries the general feeling or emotion a person attaches to the idea. Attempt to instill sympathetic and caring feelings, which will then lead to donations to the Salvation Army. Ex: Salvation Army - Invest in the Future *Volvo example: car features, family safety, buy a Volvo*

Quality Logo & Brand Name Test

Easily recognizable, familiar, consensual meaning (*stimulus codeability*), evokes positive feelings McDonald's, Starbucks, coca-cola

How to identify desired image

Evaluate current image by asking customers & non-customers, can be a strategic advantage ex: what do people think of Crocs

External Information Search

Evaluates the alternatives, uncertain about the right brand to purchase. Gathers info from a variety of sources. Cost V. Benefits of Search determines time spent; Motivation to Search: 1. Level of Involvement- how important product is to consumer's existing wants/needs/values 2. Need for Cognition 3. Level of Shopping Enthusiasm Ability to Search: How educated individual is about product, spend less time the more they know

Step 3: Evaluation of Alternatives

Evoked Set, Multiattribute, Affect Referral

Evoked Set

Evoked set is the brands the customer ultimately considers - Adidas, Nike, Jordan's Inept - not considered bc of negative feelings (Sketcher's), Inert - no feeling bc lack of knowledge (Puma) Ex: Bottled Water in class - Dasani v. Great Value water bottle being in the evoked set starts brand equity

Marketing defined

Exchange between a firm and its customers -Customer seeks benefit from the company and expects to pay -The company offers benefits to its customers and seeks profits

COMPANY Perspective of Brand Image

Extension of feelings to new products, ability to charge more, consumer loyalty, more frequent purchases, positive word-of-mouth, greater channel power, attracts higher quality employees, more favorable ratings - stock value

Packaging

Final opportunity to make an impression, *69%* of purchase decisions made in-store, have 3 seconds to catch attention, must stand out, Silent Salesperson 24/7/365 purpose: -to communicate IMC -protect product -provide for easy shipping and handling -prevent tampering -meet consumer needs for portability, speed and convenience Lots of neat packaging innovation like crave case, nail polish that had finger holes, wine in paper container

Straight Rebuy

Firm has previously chosen a vendor and places a reorder

Smell (Sensation & Perception) can...

Get attention (Cinnabon store, Bed Bath & Beyond linen fragrance), allow product sampling (perfume in magazine), "new car" Smell

International Implications

Goal: To coordinate marketing efforts; Standardization- same brand name & product are sold in all countries (reduces costs) VS. Adaptation- brand and/or actual product may be dif. in each country Ex: Mr. Clean as Mr. Proper & Maestro Limpio 62% of advertising budgets spent outside of U.S. "Think globally, but act locally"

Examples of Logo Change

Google through the years, Coca-Cola, Walmart, Mercedes, Gap (gone wrong), Starbucks Think about color to and how in some cultures, certain colors mean certain things

Keys to Successful Rejuvenation

Help former customers rediscover the brand; Offer timeless consumer value; Stay true to original, but contemporize; build a community

Multiattribute Approach

High-involvement purchases, Brand's performance for each attribute (measured w/ research), importance of each attribute (measured by target groups) EX: Don vs. Wife, FL Condo: Heated Pool, Hot tub, Fitness Center, Green Space, New, etc. / Lexus features graphic on site about multiple cars EX: HGTV House Hunters ---think about all the considerations (move in ready?, hardwood, big backyard) the idea is how people weigh the options *Attribute performance x weight*

Measuring Brand Equity

How much would you pay for a pair of Nike shoes that did not include a swoosh? Brand Metrics: 1. Financial Value (cash flow), 2. Stock Market Value (market capitalization), 3. Revenue Premium (vs. generic brand), 4. Consumer Value (ask consumers)

IMC main idea

IMC's main idea is to keep the main idea the main idea. single-minded, focused, diligence, consistant should NOT be fragmented or distracted

Attitude Sequence: Conative -> Cognitive -> Affective

Impulse buy Snickers & convince yourself, "well, it has peanuts so it's healthy" ... "well-deserved treat" *Require little thought, have low price, do not demand a great deal of emotional involvement*

Co-Branding/Alliance Branding

Ingredient Branding- One brand is placed within another brand ex: intel-inside Cooperative Branding- Two firms create a joint venture of 2 or more brands into a new good or service Ex: Pillsbury - thin mints brownies Complementary Branding - Marketing of 2 brands together encourages consumption or co-purchases EX: Budweiser Buds and Burgers

How to Develop a Strong Brand

Invest in the brand, create awareness, offer authenticity or uniqueness, build trust, deliver an experience, offer value & utilize social media

Disadvantages of Private Labels

Invest money & pay early, more staff, no reorders, consumers think low quality, linked to image of retailer, advertising costs

Why is packaging important?

It's the silent salesperson -protects the product -decreases cost -provides hygiene -facilitate product differentiation -informs -keeps product from going bad -educates can be the success or failure of a product, so you want to package the product properly See and touch aspect is big -showing consumers the actual product and having them touch it can produce emotions towards the product and give them an idea of what the product will actually be like.

Cognitive: Processing New Info

Linkages: *Enhances the movement of messages from short-term to long-term memory* Existing linkage: New info that stays consistent w/ current image strengthens an existing linkage No current linkage: Customer creates a new linkage between new info & brand OR: Partner w/ established brand Ex: Esurance & Allstate, "insurance for modern world" - instant linkage

Optimal Matches

Mass Market: Low-quality product, lower price, heavy promotion, wide distribution Ex: TIMEX High-End: Best quality, premium pricing, light promotion, exclusive channels Ex: ROLEX 2x2x2x2 - 16 possible combinations can be reduced to two Slide 25 on ch. 1 PPT

Consumer Attitudes

Mental position taken toward a topic, person, or event that influences the holder's feelings, perceptions, learning & behaviors. Cognitive - knowledge/ head- mental images, understanding & interpretations of person, object, or issue Affective - attitude/heart - feelings/emotion Conative - actions/hands - intentions/behavior

Family Brands

Multiple products under one brand, transfer associations EX: P&G, Nestle, Kellogg's, Johnson&Johnson

Types of Brands

National Brand (TIDE), Designer Brand (mossimo), Niche Brand (Burt's Bees), Regional Brand (Frozen pizza

Flanker Brand

New brand within current category, may be good/better/best EX: Giorgio Armani, Emporio Armani, AIX Armani Exchange also like Hilton hotels

Brand Extension

New good or service offered by a brand EX: Ice cream & liqueur from Starbucks

Global Most Memorable Logos

Nike: 16% Apple: 15.6% McDonald's: 11.1% Coca-Cola: 9.7% *Global Brands are usually more powerful brands* because... 1. Economies of scale - only ones to have enough money 2. "If it's popular everywhere, it must be the best one" - wisdom of crowds

Advantages of Private Labels

No competition, higher gross margin, prices can be lower, your target market, store loyalty, quality control, display, fill voids in assortment, not limited by timing

Effective IMC Program Examples

Noosa: Sam's Club, Facebook, Cable TV ads - Commercial with creaminess

Disadvantages of National Brand

Not dif. from competitors, lower gross margin, may be at off-price retailers, holes in assortment

When do you search for Information?

Not happy w/ prior purchase & want more info, high-involvement decision, socially visible product, safety

Attitude Sequence: Affective -> Conative -> Cognitive

Nutrigrain "Respect Yourself in the Morning," St. Jude's touching commercial then... donate/learn about works *moved by St. Jude's message, donate, learn about their good works* Appeal to emotions/feelings held by consumers in order to move them to "like" a product & make the purchase. Comes from understanding first. Ex: "Pampered" Motorcar - emotionally has desire, reasoning about renting car comes AFTER emotion

Tangible Elements of Brand Image

OBSERVED: Goods/services sold, retail outlets where it's sold, advertising, marketing communications, name & Logo, packaging & labels, employees

Shopper Types by Information Search

Objective (barcode scanning), Moderate, Store-Intensive, Personal-Advice seekers, social media

Global Positioning IMC Example

Oreo; Milk's Favorite Cookie "Celebrate the Kid Inside" 100th Anniversary Ads, in-store contests; twist, lick & dunk promos, 25 mil fb likes Sales increased by 25%

Nostalgia Marketing

Pokemon Go, Nintendo #InThe90sIThought - Used to revamp old products into popular spotlight again

Consumer Decision Making Step 1

Problem Recognition. Consumers recognize a need or a want; physical, social, psychological - can be triggered by advertising EX: Ab-Roller Evolution commercial

4 P's Marketing Mix

Product (Gatorade through packaging with grip bottle), price, (full price vs. sale) promotion (IMC primarily lives in the realm of promotion), place (Nordstrom v. Dollar Tree)

Private Brands

Proprietary brands marketed by an organization & normally distributed within organization's outlets. Johnson's Head-to-Toe vs. Generic Hair & Body wash Popularity has fluctuated, connotation of low-price, low quality Historically price-sensitive consumers

CONSUMER Perspective of Brand Image

Provides positive assurance in an unfamiliar setting - vacation purchases; reduces search time; provides psychological reinforcement & provides social acceptance (part of a social group)

Social Media Referral Traffic v. Engagement

Referral Traffic: 1. Facebook 2. Pinterest 3. Twitter 4. Stumble Upon 5. Reddit 6. Youtube 7. Google 8. LinkedIn (Bottom 3 for referral are top 3 for engagement) Engagement: 1. YouTube 2. Google 3. LinkedIn 4. Twitter

Globalization of Markets

Refers to the merging of historically distinct and separate national markets into one huge global marketplace Ex: Mcdonald's, Starbucks, Apple, IKEA, etc.

Mere Exposure

Repeated exposure to an ad brings familiarity & a positive feeling EX: "California Walnuts" and the crazy amount of times they said the brand in the ad ALSO: Retaining Information for Cognitive Linking - more likely to remember something through repetition

IMC is meaningless without-

Retailer buy-in 1. manufacturer product or service 2. wholesaler/distributor 3. retailer 4.consumer

Changes in Channel Power: Retailers

Retailers control channel & shelf space, have purchase data, *determine products & brands on shelves*

Rejuvenating a Brand's Image

Sell new products, attract new customers AND retain current customers, *KEY is to remain consistent w/ old & new* This takes time Ex: Converse, PBR, Raybans, Barbie "You can be anything you want to be" campaign

Crocs: Creating the Right Image

Send clear message about UNIQUE nature of organization, portray what firm sells "Feel the love," "Funway Runway"

Brand Equity

Set of characteristics makes brand unique, helps fight brand parity, perceived better Video: Interbrand ex: Nike,

Business to Business

Smaller, vertical markets with fewer prospects & longer lead times with rational, higher ticket times & higher lifetime customer values. @ $8T- 1/2 of US GDP B2B Purchases are driven by members of the buying enter: users, buyers, influencers, deciders and gatekeepers.

Standardization of Labels

Standardization reduces costs, shrinking world, high-profile, high-involvement for global brands Mr. Clean example

Cognitive Mapping

Stimulate the knowledge structures & memories embedded in an individual's brain. Contain a person's assumptions, beliefs, interpretation of facts, feelings & attitudes about the larger world. Linkages: Ruby Tuesday's - recall of food, service, location, interior, etc.

Global Norm

Tastes & preferences of consumers in different nations are converging

Internal Information Search

Think about brands, quickly reduce options, choice based on past experience, brand awareness & brand equity are important (Nike, Tide Pods, Honda)

Traits that increase when people are familiar with logos

Trusted, Respectable, Reliable, Premium, Powerful, Innovative, Friendly

Brand Loyalty

Ultimate Objective - The ONLY brand that customers purchase - driven by emotion & value *** Loyalty Engagement Index

Positive Perceived Value

Value Derived/Price Paid = Greater than 1

Understanding why consumers buy a brand

Where does your brand stand now? What are your objectives? What are you doing in terms of building your brand and business? What are your brand's strengths & weaknesses? Which opportunities should be pursued first? Where are the pitfalls?

Example of Developing a Strong Brand

YETI $148M in sales in 2015, $469M in 2016 $150-$1,300 coolers sold to outdoor enthusiasts Cooler: "Good Stories Barely Take Place Indoors"

Visual (Sensation & Perception)

colors can: Convey a brand's identity (Tiffany), make products stand out (iPod's white), convey meaning (silver=light, blue=refreshing)

Trends affecting IMC

emphasis on accountability & measurable results explosion of the digital world integration of media platforms (ATT owns Direct TV) Shift in channel power increase in global competition increase in brand parity emphasis on customer engagement

communication model

look in ch. 1 slides

Branding meant back in the day

to burn Italians did paper watermarks Middle ages: butcher, baker, candlestick maker