COMM 148
In terms of marketing communications and international implications, what is standardization? (Page 35)
"The goal remains the same: to coordinate marketing efforts across all platforms. The challenges become greater due to larger national and cultural differences in target markets. Marketers can employ two strategies for global companies. Standardization, in which a company features a uniform product and message across countries, is one option. The approach involves generating economies of scale in production while creating a global product using a more universal promotional theme. The language may be different, but the basic marketing message stays the same. The second approach, adaptation, results in the creation of products and marketing messages designed for and adapted to individual countries. The manner in which a company markets a product in Mexico differs from the methods used in Italy, India, or Australia."
Identify the Generic Cognitive Strategy
#1 Generic Messages: An advertisement that directly promotes the product's attributes or benefits without any claim of superiority transmits a generic messages Works best for a brand leader or one that dominates an industry. Ex: Campbell's declared that "Soup is good food" without claiming superiority. The company leads the industry. When most consumers think of soup, they think of Campbell's Ex: nintendo with their generic message strategy "intel inside" ; they already dominate the game-console category
Different Types of Affective
#1: Resonance: connecting a brand with a consumer's experiences in order to develop stronger ties between the product and consumer Basically create nostalgia for consumer Comfort marketing: a new form of resonance advertising; reassures consumers looking for value that a branded product stands the test of time Brings back vintage characters, themes, and jingles from past to evoke fond memories #2: Emotional: attempts to elicit powerful feelings that help lead to product recall and choice Trust, reliability, friendship, happiness, security, glamor, luxury, serenity, pleasure, romance, passion Many creatives believe affective strategies build stronger brands, as they guide consumers to like the brand, develop positive feelings towards it, and eventually purchase the item
Identify the Preemptive Cognitive Strategy
#2 Preemptive Messages: A claim of superiority based on a product's specific attribute or benefit with the intent of preventing the competition from making the same or a similar statement Ex: Crest toothpaste's reputation as "the cavity fighter" preempts other companies from making similar claims, although all toothpastes fight cavities. The company states the advantage first
Identify the Hyperbole Cognitive Strategy
#4 Hyperbole: An untestable advertising claim based on some attribute or benefit Ex: If ABC states that it has America's favorite dramas, the claim is hyperbole. It does not require substantiation, which makes this cognitive strategy very popular. Often uses "best" or "greatest" in advertisements.
Identify the Comparative Cognitive Strategy
#5 Comparative Advertising: a direct or indirect advertising comparison with a competitor based on some product attribute or benefit Advertisement may mention the competitor by name or present a make-believe competitor with a name such as "Brand X" Capture the consumer's attentions, Comparison cause more brand awareness and message awareness Downside: low believability and negative consumer attitudes, negative attitudes toward commercial can then turn into negative attitudes about the product, Ex: Kindle Fire compared to iPad→ commercial argues that kindle included superior quality product attributes at a lower price
Describe the four ways consumers interact across multiple media formats, figure 1.6.
-Content grazing: involves looking at two or more screens simultaneously to access content that is not related (ex: some watching TV and texting a friend at the same time) -Investigative Spider-Webbing: occurs when a consumer pursues or investigates specific content across multiple platforms, such as a person watching a football game and accessing stats for various players on a PC or mobile phone. -Quantum Journey: focuses on completing a specific task, such as when a consumer looks for a Chinese restaurant using a PC to locate one in the area, then obtains consumer reviews of the units close by on a smartphone, and finally employs a map app to locate the restaurant or to place an order. -Social Spider-Webbing:takes place when consumers share content or information across multiple devices. Posting pictures on Facebook from a laptop and then texting friends to go check them out is an example.
Tangible elements of brand image:
-goods and services that are sold -retail outlets where the products are sold -the factories where the products are made. -Advertising, promotions, and other forms of communications all reflect the image of a brand. - brand name and logo convey a specific message. -Packaging protects products, and labels. - the employees - what they say about a company influences consumers.
Identify the steps in the IMC planning process, figure 4.1.
1) Begins with communications research which helps marketing team... 2) ID potential target markets and... 3) position strategies that match the brand 4) Then, communications objectives specified 5) Finally team designs budget to achieve comm. Objectives keeping... 6) IMC components in mind
Identify types of appeals that can be used in designing ads.
1. Fear: 2. Humor: 3. Sex: 4. Music: 5. Rationality: and purchase 6. Emotions: 7. Scarcity: Urges c
Explain the Fear and Humor Appeal Strategies and their qualities
1. Fear: increases viewer interest in an ad B2B focus on severity Vulnerability 2. Humor: best technique for cutting through the clutter, by getting people's attention and keeping it. Funny message offers intrusive value and attracts attention. Watch, laugh, remember
Identify the three primary approaches used in communications research;
1. Product Sepcific 2. Consumer-Oriented 3. Target Market
Identify the three primary approaches used in communications research; Consumer- oriented Research
2) Consumer-oriented research: can ID context of a product's use Anthropological approach: direct observations of consumers using good/service Sociological analysis: research that features social class issues, trends, family life cycle changes Psychological motive: like feeling sexy, powerful, intelligent P. 113 "Scotts Miracle-Gro Lawn Fertilizer" Example **can indicate elderly and those who have developed some type of heart trouble would be most likely to want this benefit
Identify the Unique Selling Proposition Cognitive Strategy
3 Unique Selling Proposition: An explicit, testable claim of uniqueness or superiority that can be supported or substantiated in some manner Ex: In the advertisement for P&S Surgical Hospital, the company claims to have the best smaller-sized hospital. Substantiation of these claims comes through being rated #1 in Louisiana by CareChex
Identify the three primary approaches used in communications research; Target Market Research
3) Target-market research: ID those who will be recipients of communications campaign **looks at best market for a particular benefit of a good or service Focus group: way to understand client's customers, consists of consumers who talk about particular topic/product/brand in front of moderator/panel
Explain the Sex and Music Appeal Strategies and their qualities
3. Sex: Nudity & other sex appeals don't always work, no longer has shock value because society is already immersed in it. Currently, marketers prefer subtle sexual cues, suggestions, and innuendos 4. Music: Connects with emotions, memories, and other experiences; is intrusive & attention grabbing; customers are conditioned to tie song with product
Explain the Rationality, Emotionsm and Scarcity Strategies and their qualities
5. Rationality: follows the hierarchy of effects stages of awareness, knowledge, liking, preference, conviction, and purchase; transmit basic product info 6. Emotions: based on 3 ideas: Consumers ignore most ads Rational appeals go unnoticed except for consumers in the market for a particular product Emotional ads can capture a viewer's attention and create an emotional attachment bw the consumer and the brand 7. Scarcity: Urges consumers to buy a product because of limitat
Identify the various forms or approaches from each message strategy category, Cognitive
A cognitive message strategy presents rational arguments or pieces of information to consumers. strategy advertisement influences the person's beliefs and/or knowledge structure by suggesting one of a variety of potential product benefits. Ex: Foods may be described as healthy, pleasant tasting, or low calorie. 5 forms of cognitive strategies: generic messages, preemptive messages, unique selling propositions, hyperbole, and comparative advertisements Attitude sequence: cognitive -> affective -> conative
Benefits of strong brand image
A company can price its products higher leading to improved markup margins and profits. Customers are willing to pay the higher price and become more loyal as well. Customers also tend to purchase more frequently and often generate positive word-of-mouth communications. Quality image provide basis for the development of new goods/services Introduction of product becomes easier when people recognize brand name & image - long term patrons are willing to try new items In terms of the distribution channel, a strong brand name allows a company to have greater channel power. Because consumers purchase the company's products, retailers and other channel members will want to stock it. Even employees and potential employees are attracted to good companies. They want to be associated with the firm. Provides more favorable ratings with investors which helps company raise capital when needed Lawmakers may be less inclined to pursue actions that may hurt the business, members of regulatory agencies are less likely to believe rumors of wrongdoings Psychological reinforcement comes from concluding that a wise choice was made and the confidence that the good or service will perform well Social acceptance comes from believing that other individuals including friends & family who purchased the same brand are likely to accept the choice
Understand the impact of advertising expenditures, and the different effects (pg. 149)
Advertisers have an unrealistic assumption that expenditures leads to an equal increase in sales. This is not true, as there are other effects Effects: Threshold effects: occur at the point in which the advertising program begins to have a significant impact on consumer responses Diminishing returns: part of the concave downward function, in which incremental increases in expenditures in advertising result in smaller and smaller increases in sales Carryover effects: a result of brand recall, which reminds people that they need to purchase the product because they need them Wear-out effects: when a campaign becomes so popular that it becomes boring and old. Decay effects: when a company stops advertising and consumers begin to forget the message
Components of Promotion (also known as 'tactics'):
Advertising --> Digital Marketing --> Socail Media --> Alt. marketing --> Database Marketing --> Direct Response -->Personal Selling --> Sales Promotions --> PR --> ADV.
Trends in consumer buying
Age complexity Gender complexity Active, busy lifestyles Diverse lifestyles Communication revolution Experience pursuits Health emphasis
Identify demographic and psychographic segmentation
All different Segments (7): Demographics, Psychographics, Generations, Geographic, Geodemographics, Benefits, Usage Demographic segmentation: various population characteristics like gender, age, education, income, ethnicity Gender - men and women purchase/desire diff products, or similar products with diff features Ex: degree men deodorant focused on physical feats, degree women focused deodorant left no marks on clothing Women control 66% of world's annual consumer spending Men don't like browsing, prefer looking for specific info Age - notable ranges: children, teens, young adults, middle-age adults, senior citizens Can be combined with another demographic Children demographic controversial, but ads generate large revenues Income - family's income level + educational attainment closely related "Exhausted affluent": incomes $100k - 150k. Affluent but ID with working class Ethnicity - ethnic minorities represent $2.5 trillion buying power Psychographics: emerge from patterns of responses that reveal a person's activities, interests, opinions (AIO) Can be combined with demographic information VALS (Values and Lifestyles) typology categorizes respondents into 8 diff groups/segments based on resources + extent to which they are action oriented Innovators, Thinkers, Achievers, Experiencers, Believers, Strivers, Makers, Survivors (all on page 119) Ex: reaching strivers requires ads with fun and trendy products
Understand the means-end theory/chain (pg. 146)
An advertisement should contain a message (or means) that leads the consumer to a desired end state (end states = personal values). A means-end chain should start a process in which viewing the advertising message leads the consumer to believe that using the product will help achieve a personal value Product attributes -> benefits -> personal values
Describe an evoked set.
An evoked set is the set of brands that a consumer considers when purchasing a product or service The brands in the evoked set generate positive feelings unlike the inept set which generates negative feeling and inept set which generates a neutral feeling Companies wish to become part of the evoked set in a consumers process of evaluation and to do so do constant promotion so that a consumer sees there brand regularly and ingrained in their brain for the long term
Understand the concepts of severity and vulnerability in a fear appeal.
Both of the appeals are used for developing fear advertisements Severity Example: B2B advertiser highlights the unproductivity impact and other dangers a firm will face if their internet server crashed or is hacked Vulnerability Example: Internet provider shows a potential client that likelihood that their current internet server will crash or have a security breach
Describe brand parity. (Found in page 31)
Brand Parity: "when consumers believe that various brands provide the same set of attributes, brand parity results. When it occurs, shoppers select from a group of brands rather than one specific brand. Brand parity means quality becomes less of a concern because consumers perceive only minor differences between brands. Consequently, other criteria—such as price, availability, or a specific promotional deal—impact purchase decisions. The net effect becomes a steady decline in brand loyalty. When consumers do not have a specific brand they believe is significantly superior, they more readily switch brands. In response, marketers try to convince consumers that their company's brand is not the same; that it remains superior or different in some meaningful way.: Brands viewed as being equivalent Consumers select from group of brands Quality & characteristics less important Price more important Decline in brand loyalty Ex: think of the water bottles example
Understand brand image
Brand image is made up of everything a company does, has, and is - it expresses what the company stands for as well as how it is known in the marketplace Contains tangible and intangible elements that customers encounter as they interact w brand Also include tangible/intangible benefits Having a strong brand image benefits a company. 1. Quality of a brand's goods & services ranked as most important component of brand image 2. Next was the willingness of a firm to stand behind its goods & services when something went wrong 3. Third were perceptions of how firm dealt with customers by being pleasant, professional, or helpful The first step in managing a brand image is to identify the desired image. This begins with evaluating the current image by asking customers what they think. It is also important to ask non-customers. They often present a different view, one that reflects why they did not make a purchase.
What is product positioning?
Consumer belief of a company + its products RELATIVE to competitors Ie., Volvo's cars positioned to be 'safer' than other products
List the characteristics of effective spokespersons, figure 6.13.
Credibility Attractiveness Similarity Likeability Trustworthiness Expertise
Identify the steps in an integrated marketing communications plan, figure 1.4.
Current situational analysis: examination of the firm's ongoing market situation SWOT analysis: study factors in the organization's internal and external environments. Identifies internal company strengths and weaknesses along w the marketing opportunities and threats present in the external environment Marketing objectives: establishes targets such as higher sales, an increase in market share, a new competitive position, or desired customer actions, such as visiting the store and making purchases. (it is paired with key target markets - understanding both helps company leaders prepare an effective integrated marketing communications program.) Marketing strategies: develops these strategies based on marketing objectives and target market - they apply to the ingredients in the marketing mix and include all positioning, differentiation, and branding strategies. Marketing tactics: guides day-by-day activities necessary to support marketing strategies. "The final two steps in the marketing plan consist of stating how to implementthe plan and specifying methods to evaluate performance."
Communication objectives
Develop brand awareness Increase 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
identify the different types of executional framework
Executional Frameworks: 1. Animation 2. Slice-of-life 3. Storytelling 4. Testimonial 5. Authoritative 6. Demonstration 7. Fantasy 8. Informative
Types of brands can be placed into 3 major categories:
Family brands are a group of related products sold under one name. The primary advantage of using a family brand is transferring associations to new products. Brand extensions involve using an established brand name on products or services not related to the core brand. An example would be Black & Decker putting its brand name on appliances. Flanker brands involve the development of a new brand sold in the same category as another product. Proctor & Gamble offers a number of brands within a category, such as laundry detergent or body wash. Hallmark sells a cheaper version of greeting cards, Shoebox Greetings. The goal of flanker brands is to capture a bigger market share without cannibalizing current brands. P & G believes each brand attracts a different type of consumer, and by offering four brands P & G captures a larger market share than if the firm sold only one brand.
Understand the consumer decision-making process, figure 3.1.
Follows a process of problem recognition, information search, evaluation of alternatives, purchase decision and postpurchase evaluation First a consumer recognizes a need Second they do an internal and/or an external search drived by personal consumer attitudes An internal search is when a person uses their memory to think about products that might satisfy the need that emerges, and use emotional feedback to choose what brands to consider An external search is when an individual uses other people or outsides sources such as the internet to get more informed on products Third a person determines there options in brands that offer a specific product, using the evoked set, multiattribute or affected referral approach Fourth after doing the previous steps a consumer makes the conscious decision to determine a brand from whom they choose to buy Finally people might use personal attachment or other methods to justify their decision or could have regrets in getting the product
Understand the hierarchy of effects model, figure 5.1.
Helps us to clarify the objectives of an advertising campaign Model outlines 6 steps a consumer/business buyer moves through when making a purchase This is helpful for markers to identify common steps consumers take when making purchases, so it helps brands create brand loyalty Steps: (fixed order) 1. Awareness 2. Knowledge 3. Liking 4. Preference 5. Conviction 6. The actual purchase
Define private brands
Historically, only price-sensitive consumers purchased private brands. Because of the higher gross margins on private brands, retailers began investing into their private brands. As a result, 72% of consumers today see private brands as being equivalent to manufacturers' brands. Retailers are now using private labels to differentiate themselves from other retail outlets. In addition to improving quality, retailers have invested more money in advertising private labels, improving in-store displays of private labels, and improving the packaging of private labels. The result is that now many consumers cannot tell the difference between a retailer's own private labels and a manufacturer's label. Ex. Kirkland wine
What specific target audience information should be included in a creative brief?
Hobbies, interests, opinions, lifestyles, education level
Understand derived demand
Identification of needs Based on, linked to, or generated by the production and sale of some other good or service Ex. demand for steel used in car frames results from number of cars and trucks sold per year Establishment of specifications In a new task purchase, the most complete specifications are spelled out Identification of vendors Once specifications have been identified, potential vendors are located and asked to submit bids Vendor's ability to write a clear proposal often determines whether that company's bid will succeed Vendor evaluation Two levels: Initial screening of proposals Narrows field of vendors down to 3-5 competitors Firm undertakes a vendor audit Vendor selection Selection criteria used include quality, delivery, performance history, warranties, facilities and capacity, geographic location, technical capability, and per-dollar value Negotiation of terms Postpurchase evaluation
Why is the post-purchase phase critical in the business-to-business arena?
It is critical because it will determine whether a business will buy from the same vendor or choose to consider a different vendor based on the product. Allows for stronger or weaker connections for the two businesses at play
Familiarize yourself about trends in consumer buying, such as gender and age complexity
Knowing the behaviors of certain age groups at the time is very important to know how to target those specific demographic It is important to keep up to date on how different age groups interact in their social lives due to changing mentalities in society It is also important to understand how men and women roles in society change. For example men becoming more domestic and vice versa for woman Knowing the different emergence of sexual classification is good as well since it opens the space for a new consumer demographic
What purposes do labels on packages serve?
Labels are an important component of packaging. They must meet legal requirements in terms of listing contents and providing information on ingredients. But, labels also provide a marketing opportunity. Words such as gourmet, all-natural, and premium are used to convey what is offered and why it is important to consumers. Labeling can be the last opportunity to tell consumers about a product.
Define message strategy.
Message Strategy: the primary tactic or approach used to deliver the message theme.
Understand the categories of brand names, figure 2.6.
Overt names Reveal what a company does, ex: American Airlines. Implied names Contain recognizable words or word parts that convey what a company does, ex. FedEx, Home Depot Conceptual names Capture the essence of what a company offers, ex. Twitter, Google Iconoclastic names Represent something unique, different and memorable, The name does not reflect or imply what the company does. ex. Samsung, Reebok Marketing overt & implied names should be easier since consumers more readily recall the name, which implies the type of good/service offered Marketing conceptual & iconoclastic names necessitates greater efforts to ensure consumers connect the name with the product offered
What are communications budgets based on?
Percentage of sales Budget from sales, actual or anticipated When sales go up, budget go up When sales go down, budget goes down Meet the competition Companies raise/lower budget to match amounts spent by competition in order to prevent market share loss However, it doesn't take into account how that money is spent What we can afford Sets marketing budget after all other expenses have been taken care of Doesn't recognize benefits of marketing communication Objective and task Identify objectives and then budget becomes cumulative cost of these objectives Best budgeting approach because it relates dollar costs to specific objectives Payout planning Ratio of advertising to sales or market share Allocates greater amounts in earlier years Quantitative models
Understand the different approaches to positioning, figure 4.6.
Product positioning approaches: most companies use 2-3 of these approaches Attributes Product trait that sets it apart Competitors Contrast your own product against a competitors Use or application Making a memorable set of uses Price-quality relationship Business that offer high or low prices At high end, quality becomes the emphasis At low end, price or value is emphasized Product user Who uses it Product class Cultural symbol Very good for products Can be created by factors such as product quality, price, distribution, image, marketing communications This differentiates a product from the competition in the mind of the audience Can create perceptual mapping to help with this
Be able to identify examples of flighting, continuous, and pulsating schedules
Pulsating schedule Continuous ads throughout the year with bursts of high intensity at specific times Marketing during slow sales seasons focus on drumming up business when people don't regularly buy Flighting schedule Communications only presented during peak times like christmas and not at all during others Continuous campaign schedule Consumers purchase durable goods such as dishwashers etc on a regular basis Level advertising increases odds consumers will see the good when they need it
Understand the communications process model, figure 1.1
Senders: companies trying to capture customer's attention Encoding: "forming verbal and noverbal cues. In marketing, the person in charge of designing an advertisement transforms an idea into an attention-getting message. A commercial consists of cues placed in various media, such as television, magazines, and billboards. The message may also be encoded on the firm's website and social media page." Transmission devices: "Marketing communications move through various transmission devices. Marketing communications move through various channels or media. The channel may be a television station carrying an advertisement, a Sunday paper with a coupon placed inside, a website, or a Facebook page.: Decoding: "occurs when the message reaches one or more of the receiver's senses. Consumers both hear and see television ads. Other consumers handle (touch) and rad (see) a coupon offer. An individual can even smell a message. A well-placed perfume sample might entice a buyer to purchase the magazine containing the sample and the perfume being advertised. Hungry people tend to pay closer attention to advertisements and other information about food." Receivers: "Quality marketing communication takes place when customers (the receivers) decode or understand the message as it was intended by the sender. Feedback: "In the communication process, feedback takes the form of the receiver's response to the sender. In marketing communication, feedback includes purchases, inquiries, complaints, questions, store visits, blogs, and website hits." Noise: "consists of anything that distorts or disrupts a message including marketing communications. It occurs during any stage in the communication process." Clutter: "remains the most common form of noise affecting marketing communications. Figure 1.2 provides examples of noise that affects advertising messages."
Understand stimulus codability
Successful logos illicit shared meanings among consumers a process known as stimulus code ability. Logos with high stimulus credibility 10 to evoke consensual meanings within a culture or subculture. Ex: Nike Swoosh is the most recognizable symbol in advertising today, brand name doesn't even need to be present
Rejuvenating a Brand or Image
Successful rejuvenation of a brand requires 4 critical ingredients - helping former customers to rediscover the brand offering timeless consumer value staying true to the original, yet contemporizing the brand, building a community of loyal consumers Rejuvenation requires retaining current customers, winning back former customers, and attracting new customers. Ex. The recession (2008) changed the dining habits of Americans as people switched to cheaper dining-out alternatives. DineEquity, which owns IHOP, purchased Applebee's. Successful rejuvenation process Help former customers rediscover the brand -> utilize nostalgia/new experience Offer timeless consumer value -> connect rediscovery to something timeless Ie., authenticity, simplicity, compelling brand story, or heritage Stay true to original, but contemporize -> build community via social media + contemporary platforms Build a community -> L'eggs case study
For a market segment to be viable, it should pass what tests?
Target markets exist in two areas: consumer markets & business-to-business markets (market segments) Market segment: set of businesses/group of individual consumers with distinct characteristics Must pass tests: Individuals/businesses within market segments similar in nature, with same needs, attitudes, interests, opinions. Persons or businesses within segment homogenous Market segment differs from the population as a whole. Segments distinct from other segments and from general population. Market segment must be large enough to be financially viable to target with separate marketing campaign Market segment must be reachable through some type of media or marketing communications method Market segmentation process - must ID specific consumer and business groups most likely to purchase brand based on needs, attitudes, interests
Understand the Business-to-business buying process, including the role of the buying center.
The business to business buying process includes identification of needs, establishment of specifications, identification of vendors, vendor evaluations, vendor selection, negotiation of terms and postpurchase evaluation. First a business generates a need for raw materials or professional services Second a business announces what type of product they need with what details Third vendors are found and ask to submit a bit Fourth the business looks at the bids generated by the vendors Fifth they select a specific vendor based on criteria the business deems important for them Sixth, there is a negotiation of terms occurs which is usually just a formality since all the negotiations were made before hand Finally, business asses the product/ service bought and see whether it is satisfactory for further purchase from the vendor or the opposite might happen- The buying sector includes 5 roles, users, buyers, influencers, deciders and gate keeper and these roles are sometimes interchangeable with each other.
Identify the 4 P's of the marketing mix (note, distribution is also referred to as place).
The four P's are: Price, Product, Distribution, and Promotions (see page 25), PLACE? They all represent the starting point of marketing promotions. "For years, one view was that promotional activities included advertising, sales promotions, and personal selling activities. This approach has expanded to incorporate digital marketing, social media, and alternative methods of communication."
Identify the components of a creative brief.
The objective Main objective or goal The target audience The message theme Outline of key idea(s) that advertising program conveys Matches medium selected, target market, and primary IMC message Can be oriented toward rational or emotional processes The support Facts that substantiate the message theme The constraints Legal and mandatory restrictions placed on ad Trademarks, logos, copy registrations, and specify warranties, offers, claims
Understand the attitude formation sequences which match the hierarchy of effects model steps
The steps taken when a customer forms an attitude: Cognitive → affective → conative Cognitive component refers to a person's mental images, understandings, and interpretations of the person, object or issue Affective component refers to the feelings/emotions a person has about the object, topic, or idea Conative component refers to the individual's intentions, actions, or behavior
Understand types of Business-to-business sales, such as a straight rebuy.
Three distinct types of business to business sales are straight rebuy, modified rebuy and new task rebuy Straight rebuy is when a firms has a positive experience with a previous vendor that they reorder from that vendor right afterwards Modified rebuy is when a firm considers other vendors distinct from the one they initially bought from. It can be caused from dissatisfaction in experience or quality of product New task buy is when a firm considers a new product/ service or one bought a long time ago.This is taken into greater consideration.
Understand dual channel marketing.
When a product or service is sold to both the customer and business Usually occurs when a product sold to business is adapted for consumer use, which allows for greater margins in profit since price is lowered when sold to business Another type of dual channel marketing are spin off sales which occurs when a business product that created a positive experience leads to a personal consumer product of the same brand Creates a competitive advantage
Understand the concept of brand parity in the business-to-business sector.
When there are multiple vendors for a specific product that they make all vendors seem the same Therefore strong image of the business/brand makes important to create distinction Distinction between one vendor and another is crucial for that vendor to succeed/not just price difference
Identify the various forms or approaches from each message strategy category, Affective
advertisements trying to evoke feelings or emotions and match those feelings with the good, service, or company Attempt to enhance likeability of product, recall of the appeal, or comprehension of the advertisement Should elicit emotions that lead the consumer to act, preferably by buying product and subsequently affecting consumer's reasoning process
Brand parity:
is when consumers see very few differences among brands. Brand equity is a set of characteristics that makes a brand unique. Brand equity helps fight brand parity situations because the brand is perceived as being better.
Define crowdsourcing.
nvolves outsourcing the creative aspect of an advertisement or campaign to the public Offers can alternative to creating commercials in-house or hiring an external ad agency Can create viral buzz as users view advertisements online, recommend or send favorites to finds, and post links
Identify the three primary approaches used in communications research; Product specific Research
ommunications research - the beginning of IMC process, helps with understanding product being sold and potential buyers/consumers Comm. research should go beyond identifying demographic profiles/target markets Must consider key insights: how, when, why produces are used 1) Product-specific research: ID key product characteristics that become selling points Ex: marketing team finds most desirable app features for phone Maybe they find consumers use certain apps when bored, pass time and use other for functional info like location of restaurant More than just discovering and understanding attributes/characteristics/features, also includes product's benefits **can determine one benefit oof joining a fitness center can improve heart health
Identify the various forms or approaches from each message strategy category, Conative
seek to lead directly to consumer responses. Can support other promotional efforts, such as a coupon redemption program, cash-back rebate, or encourage consumers to access a website Typically encourage quick action by stating that the item cannot be purchased in stores and will be available only for a limited time Cognitive knowledge of brand or affective liking of product often come later or during product usage (ex. Point-of-purchase display can be designed to cause people to make impulse buys) Attitude sequence: conative -> cognitive-> affective
Executional framework (aka execution):
signifies the manner in which an ad appeal will be presented and a message strategy conveyed Successful message strategies match their message to the appeal and to the executional framework.
Intangible elements of brand image:
the policies of the company in dealing with employees and other publics. Ideas and beliefs espoused by corporate personnel become part of the image. Even the culture and location of the company are important. Lastly, media reports can enhance or harm a company's image depending on what is communicated.
How does Having a strong brand image benefits a company.
y.1. Quality of a brand's goods & services ranked as most important component of brand image 2. Next was the willingness of a firm to stand behind its goods & services when something went wrong 3. Third were perceptions of how firm dealt with customers by being pleasant, professional, or helpful The first step in managing a brand image is to identify the desired image. This begins with evaluating the current image by asking customers what they think. It is also important to ask non-customers. They often present a different view, one that reflects why they did not make a purchase.