marketing test 3

Core benefit Basic product Expected product Augmented Potentia

1. ______ - the service or benefit the customer is really buying 2. ______- marketer must turn the core benefit into a basic product. Example: a hotel must offer a bed, towels, desk, etc. 3. ________ - a set of attributes and conditions buyers normally expect when they purchase this product. Ex: clean bed 4. ________ - exceeds customers expectations 5. _______l - encompasses all the possible augmentations and transformations the product or offering might undergo in the future

building defense

1. brand elements _______ element memorable, meaningful, likable ______ elements transferable, adaptable (adapts to evolving taste, cultural changes, abstract, doesn't let it get stuck) and protectable (from legal and competitor standpoint (brand opting)).

Brand contact Touch points

2. Holistic marketing activities: ________ - any information-bearing experience (positive or negative) a customer or prospect has with the brand, its product category, or its market. _________ - customer service, billing very few companies put meaning into these things

"secondary"

3. Leveraging secondary activities - These _______ brand associates can link sources such as the company itself, to countries/other geographic regions, and to channels of distribution

Patricians Parvenus Poseurs Proletarians

4 P's of luxury o _______ - have wealth and don't need status - don't want to associate themselves with others - want products that only other patricians will recognize • Accustomed to certain lifestyle • Quiet brand signals sent to each other (defining their group) o ________ - have wealth and need status - more likely to buy things that try to signal that they are apart of the higher wealth groups • Do not recognize the quiet signals • Want to be a part of status - Lamborghini • Loud signals - recognizable but distinct enough that it looks nicer than the poseurs loud signals • As products increase in price they become quiet signals o ______ - don't have wealth and need status - will buy products that have logos that they associate with wealth • Loud signals • Try to mimic parvenus • Counterfeit products • Overspend (stretching yourself) on product to fit in to that status they're trying to achieve o _______ - does not have wealth and do not need status

brand map

A _____ _____ Shows all the qualities people associate with the brand

awareness meaning response connection

BRAND RESONANCE PYRAMID bottom 1. 2 3 4 top

feelings judgement

Companies focus brand response on _______ and should focus on ______

victim of own brand

Oldmans taught us that you can be associated with the past by capturing the moment too well - _______

customer-based brand equity

The differential effect of brand knowledge on consumer responses to the marketing of a brand

competitors.

The stronger the awareness, the more the brand crowds out the ________

howard johnsons

______ _______ created billboards that caused them to be transfixed in time

separate branding

______ branding different products with different names a. Advantage: if a product fails the company hasn't tied it to its reputation

brand

______: A name, term, symbol, design, or combination of these items that is intended to identify and differentiate a seller or a seller's product from competitors

feature fatigue down

_______ ______ Adding tons of features to a product • Satisfaction actually goes _____ with more features because no one knows how to use them all and they feel like they aren't getting there money's worth out of it

line stretching

_______ ______ you're in the middle of something and now you're moving up or down to either high end or low end

branding

________ gives purpose to the product, builds associations w your product

corporate branding

________(umbrella branding- one brand on everything) - companies use their company brand as an umbrella brand across their entire range of product

3. Leveraging secondary activities

_________- partner with another company or celebrity and hope what they stand for will be associated with the brand.

product

anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Product item → ex: angry birds

line modernization

as you are developing line it takes a life of its own and it grows to big and you lose money so you modernize it to refresh it

length

average length across all products (the distance down)

brand dilution negative line extension

brand extension negatives 1 _____ _____ 2 ______ feedback effects 3. ______ ______ may cause the brand name to be less strongly identified with any one product

new product Positive feedback meaning

brand extensions positives o Improves odds of _____ ____ success o _____ _____ extent - strengthens brand ______

consistency

coke, chevrolet, and levis shows us how important ______ is to creating a powerful brand

sub-branding

combining two or more corporate brands, family brands, or individual product brands

Two way stretch

create high end version gourmet popcorn

core benefits , basic product, expected augmented products, potential products

customer value hierarchy 1 2 3 4 5

feelings

customers emotional responses and reactions with respect to the brand

imagery

describes the extrinsic properties of the product/service including the ways in which the brand attempts to meet customers psychological or social needs

resonance

describes the relationship customers have with the brand and the extent to which they feel they are " in sync" with it.

product mix

entirety of companies product; includes width, depth, and consistency

negative feedback brand dilution

fit can backfire: the greater the fit the more _____ _____ and ____ _____ The more fit the more risks. If the extension doesn't do well and it has a close fit with the original then it is more likely to negatively effect the original brand

judgements

focus on customers own opinions and evaluations

line featuring and pruning

get rid of some of your product if losing money

Upmarketing stretch

going up in price market

product line

group of products together; determined by products who all satisfy a class of needs and are used together, sold to the same customer group or target market, fall within the same price range, each product line has its own marketing strategy → ex: all angry bird manifestations OR

brand salience

how often and easily customers think of the brand under various purchase or consumption situations - the depth and breadth of brand awareness

brand awareness

how often and how easily consumers think of a brand under different consumption situations. We are trying to make it so that if I gave you a product market - my brand would come to mind.

brand elements holistic marketing activities leveraging secondary activities

how to develop brand equiy: 1 2 3

brand performance

how well the product/service meets the customers functional needs

Downmarketing stretch

lowering price market

consistency

metric by which you look at similarity between product lines, companies use this w consultants to learn your relationship with consumers as far as consistency

width

number of product lines I have

depth

number of products you have within the single product line ex: tide had tide pods, different scents, etc.→

line filling

o Cannibalization can happen here: _______ ______ - product within it need to differentiate enough for your products to not steal customers from each other

Durable goods Non-durable goods Service product Convenience Shopping Specialty Unsought products

o _______: tangible goods that normally survive many uses - normally require more personal selling and service, command higher margin, and require more seller guarantees. Ex: phones, clothing, refrigerator o _______: tangible goods normally consumed in one or a few uses. 5 hour energy, fuel, paper towels - lower margins, usually chosen on convenience, needs to be available in many locations, advertise heavily o _______s: intangible, inseparable, variable, and perishable products that normally require more control, supplier credibility and adaptability. Ex: haircuts, legal advice o _______- purchased with frequently, immediately, and with minimal effort. Ex: Q tips o ________: consumer characteristically compares on such bases as suitability, quality, price, and style. Ex: Toms o _______: have unique characteristics or brand identification for which enough buyers are willing to make special purchasing effort. Ex: Oculus Virtual Reality head sets o _______: the things you buy because you absolutely have to - you don't want to buy it; distribution is going to be limited. Ex: coffins, life insurance

brand dilution

occurs when consumers no longer associate a brand with any specific or highly similar set of products and start thinking less of the brand

o Power o Premium o Potential

outcomes of brand equity for BrandDynamics model 1 2 3

expected augmented

over time as products gain more _____ and ______ features Companies start to offer stripped-down versions of the product for less. • Ex. Discount hotels demand rise as expensive hotels growth increases

expected

over time to augmented features become _____

brand loyalty

pepsi taste challenge showed us customers ______ ______ to coke

parity

points of _____: attribute/benefit associations that are not necessarily unique to the brand, but may in fact be shared with other brands • Category • Correlation • Competitive

difference

points of _______: attributes/benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand • Desirable • Deliverable • Differentiating

Durable goods Non-durable goods Service product Convenience Shopping Specialty Unsought products

product classifications 1 2 3 4 5 6 7

service goods

quality of _____ is harder to judge than quality of ______

line filling

taking care of a middle market area; diff versions between high end and low end. 3 different versions of diapers

1. Value based price 2. Product features and quality 3. Services mix and quality

what are the three elements to a product offering? 1 2 3

1 fit 2 strength of brand 3 amount of successful extensions already established

what three things determine if brand extension works? 1 2 3

product differentiation

• Form • Features • Performance quality • Conformance quality • Durability • Reliability • Reparability • Style • Customization

service differentiation

• Ordering ease • Delivery • Installation • Customer training • Customer consulting • Maintenance and repair • Returns