MKTG 472: Test A

What are the 4 stages of brand development?

(IMRR)

Building Blocks of Brand Resonance Pyramid

(SIP FJR)

Types of Relationships

-Arranged Marriages -Casual Friends/Buddies -Marriages of Convenience -Committed Partnerships -Best Friendships -Compartmentalized Friendships -Kinships -Rebounds/Avoidance Driven Relationships -Childhood Friendships -Courtships -Dependencies -Flings -Enmities -Secret Affairs -Enslavements -Love/Hate Relationships

3 criteria for choosing points of difference:

1. Desirability 2. Deliverability (feasible, communicable) 3. Differentiability

Steps in Strategic Brand Management

1. Identify and establish brand positioning 2. Plan and implement brand marketing programs 3. Measure and interpret brand performance 4. Grow and sustain brand value

What are the fundamentals of brand positioning?

1. Target Consumers: describe the segment they're in with relevant dimensions 2. Frame of Reference: what goal will be served by the target by consuming the brand 3. Point of difference: what distinguishes you from other offerings in the competitive set? 4. Reasons to believe: evidence

Defining and Communicating a Competitive Frame of Reference

3 main ways to communicate the category: 1. Category Benefits 2. Exemplars 3. Product Descriptors

What is a brand mantra?

A short 3-5-word phrase that captures the essence or spirit of the brand positioning (aka brand essence or core brand promise) -Designed to simplify, communicate, and inspire

2 sources of brand equity

Brand Awareness Brand Associations

Brand Equity vs. Positioning

Brand equity resides in the hearts and minds of the consumer Brand positioning is the heart of marketing strategy=the act of designing the company's offer and image to occupy a distinct and valued place in the target customer's minds

Secret Affairs:

Highly emotive, privately held relationship considered risky if exposed to others.

Kinships:

Long-term, non -voluntary union with lineage ties • Family

Examples of Brand Mantra

Nike - authentic athletic performance Disney - fun family entertainment Levi's - original authentic blue jeans

What is a brand?

a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products a promise in terms of what to expect from the product

Sub-dimensions: Brand Salience

awareness of the brand (what basic functions does the brand provide to customers?) Depth = how likely it is that a brand element comes to mind Ex. recall vs. recognition Breadth = range of purchase and usage situations in which the brand element comes to mind Ex. Tropicana- breakfast drink and orange juice are narrower than healthy beverage drink (Campaign- "It's not just for breakfast anymore")

Sub-dimensions: Brand Feelings

customers' emotional responses and reactions to the brand • Kevin Roberts of Saatchi & Saatchi argue for the importance of love and respect (trustmarks and lovemarks) • Emotional connection to the brand is seen as critical 6 Important Types of Brand-Building Feelings: 1. Warmth 2. Fun 3. Excitement 4. Security 5. Social Approval 6. Self-respect

Sub-dimensions: Brand Judgements

customers' personal opinions and evaluations of the brand, formed by putting together brand performance and imagery associations 4 types of judgements are especially important: 1. Brand Quality 2. Brand Credibility 3. Brand Consideration 4. Brand Superiority

Sub-dimensions: Brand Resonance

extent to which customers identify with the brand and feel that they are in sync with the brand 4 Types of Resonance: 1. Behavioral Loyalty 2. Attitudinal Attachment 3. Sense of Community 4. Active Engagement *Brand-person relationships exist here

Casual Friends/Buddies:

friendships low in affect and intimacy • Characterized by infrequent and sporadic engagement • Few expectations for reciprocity

Compartmentalized Friendships:

highly specialized, situationally confined, enduring friendships characterized by lower intimacy than other friendship forms but higher socio-emotional rewards and interdependence • Easy entry and exit attained

Sub-dimensions: Brand Performance

how well the brand meets customer' more functional needs. 5 types of attributes and benefits often underlie brand performance: 1. Primary ingredients and supplementary features 2. Product reliability, durability, and serviceability - consistency of performance over time, expected life of product and each of repairing 3. Service effectiveness, efficiency, and empathy- how well the brand satisfies service needs, speed and responsiveness of service, and trust/care of service providers toward customers 4. Style & Design: functional and aesthetic considerations, including sensory aspects 5. Price- price is associated with performance, also products may be organized in price tiers

Childhood Friendships:

infrequently engaged, affectively laden relation reminiscent of earlier times • Yields comfort and security of past self

Sub-dimensions: Brand Imagery

intangible aspects of the brand, including how people think abstractly about the brand 4 main intangibles are: 1. User profiles 2. Purchase and usage situations 3. Personality and values 4. History, heritage, and experiences Ex. Nivea in Europe is associated with family/maternal experiences, multi-purpose use, classic/timeless appeal, and childhood memories

Enmities:

intensely involving relationship characterized by hostility and desire to avoid or inflict pain on the other • Enemies

Courtships:

interim relationship starts on the road to committed partnership contract

Marriages of Convenience:

long term, committed relationship • Precipitated by environmental influence versus deliberate choice

Committed Partnerships:

long term, voluntarily imposed, socially supported union high in love, intimacy, trust, and a commitment to stay together despite adverse circumstances • Adherence to exclusivity rules expected

Enslavements:

non-voluntary union government entirely by desires of the relationship partner • Involves negative feelings but persists because of circumstances • Consumer plays subordinate role

Arranged Marriages:

non-voluntary union imposed by preferences of third party. • Intended for long term, exclusive commitment, although at low levels of affective attachment • Characterized by consumer playing subordinate role

Trademarks that have become generic:

o Aspirin o Dry Ice o Escalator o Linoleum o Thermos o Webster's Dictionary o Zip Code o Zipper

Examples: Brand Associations

o Concrete product attributes o Intangible attributes o Relative price o Customer o Geography o Product usage/applications o Experiences

Dependencies:

obsessive, highly emotional, selfish attractions cemented by feeling that the other is irreplaceable. • Separation from other yields anxiety • High tolerance of other's transgressions results

What is brand image?

overall set of associations that consumers have for the brand Brands aspire to have associations that are: STRONG-come to mind easily FAVORABLE-are positively valued in eyes of customer UNIQUE-needed for competitive *Note that strength of associations is also linked to brand awareness (how readily the brand comes to mind, how readily the brand's associations come to mind)

What are brand associations?

perceptions of brand, thoughts that come up with brand, companies try to positively impact, trade characters *form brand image & position of brand on market

What is brand awareness?

recognition of the brand's existence and what it offers *Awareness of brand facilitates learning of brand associations (establishing the brand in mind is a first step to establishing its associations)

What is brand personality?

set of traits people attribute to a product as if it were a person 5 Dimensions are: 1. Sincerity 2. Excitement 3. Competence 4. Sophistication 5. Ruggedness *Advertising may be especially influential in creating user imagery and imbuing brands with personality traits

Flings:

short-term, time-bounded engagements of high emotional reward • Devoid of commitment and reciprocity demands

What is a trademark?

symbols, logos, words, or other identifiers legally registered or established by use as representing a company or product.

Define: Customer Based Brand Equity

the differential effect that brand knowledge has on consumer response to the marketing of that brand

What is brand equity?

the incremental utility or value added to a product by its brand name

What is corporate identity?

the physical tools, system and process firms use to manage their logos and trademarks

What is the goal of brand positioning?

to create strong brand equity

Rebounds/Avoidance-Driven Relationships:

union precipitated by desire to move away from prior or available partner, as opposed to attraction to chosen partner per se. • Consumer plays dominant role

Customer Relationship Management (CRM)

uses a company's data systems to track consumer activity and manage customer interactions with the company (viz all the 'touchpoints'- store, sales, rep, social media) • Technology is only part of the CRM equation - the objective is to build a relationship not just mine customer data to extract more money from that customer • Instead, CRM should increase value for both company and customer

Love-Hate Relationships:

voluntary but emotionally intense union characterized by positive and negative affect towards the other. • Maintained due to reciprocity or reward benefits • May be a friendly or hostile association

Best Friendships:

voluntary union based on reciprocity principal, the endurance of which is ensured through the continued provision of positive rewards • Characterized by revelation of true self, honesty, and intimacy • Congruity in partner images and personal interest common

What are points of parity?

what is necessary to compete in the market and shared across the competitive set (opposite of points of difference)