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Brand Management > 11 + 12 > Flashcards

11 + 12 Flashcards

1
Q

Explain what we mean with ‘Brand Imagery’ in the CBBE model

descripe its 4 types of properties:

A

Deals with the extrinsic properties of the product or service, incl. the ways in which brand (eventually) attempts to meet customers’ psychological or social needs

  • User profiles >> gaat over de persoon of organisatie die het merk gebruikt >> baseren op factoren als geslacht, leeftijd, ras, inkomen, etc.
  • Purchase and usage situations >> vertelt consumenten onder welke omstandigheden ze het product moeten kopen of gebruiken >> kan relateren aan het soort channel (bijv. Internet), bepaalde winkels (bijv. Macy’s) of het gemak van aankooptijd, locatie, waar te gebruiken en wanneer te gebruiken
  • Personality and values >> merken kunnen persoonlijkheidstrekjes aannemen sincerity, excitement, competence, sophistication, ruggedness
  • History, heritage, and experiences >> bijv. associaties die zijn gerelateerd aan de persoon die het product maakt, land van herkomst, sponsorevenementen, etc. >> POD
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2
Q

Explain what we mean with ‘Brand Saliance’ in the CBBE model

A
  • Aspects of brand awarness : how easy the brand is available in memory in relevant situations
  • Saliance is necessary but not sufficient
  • Brand associations are directly and indirectly formed

including:

  • Breadth and depth of awarness: (breadth: Purchase consideration / depth: how easy is the brand available in memory (recognition and recall)) ex. Toen Tropicana haar verpakking veranderde, was het merk niet goed herkenbaar >> consumenten dachten dat het uitverkocht was >> omzet daalde
  • Product Category structure: How product categories are organized in memory. Producten worden geordend naar hiërarchie
  • Strategic implications: where, when, how easyily and often consumers think of the brand (4 o’clock Cup-a-soup)
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3
Q

How does customers determine if they are satisfied?

A

Equity Theory

(fairness)

The consumer compares his input with the output as well as with the input and output of the supplier and assesses what is reasonable or “equitable”.

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4
Q

What is brand dispersion and why is it important?

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE (LUO ET AL,, 2013)

A

The heterogeneity (variance) in evaluations across customers

Is important because variance can inform on short term brand performance:

  • If the variance is brand discordance (unstable) >>
    • dispersion might be a bad signal.
  • If the source is stable heterogeneity in evaluations >>
    • dispersion can be a good thing (sign of popular or niche brand lovers)
    • a bad thing (there is a core of dissatisfied users and brand haters)
    • or a neutral sign..
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5
Q

Sales response model (Giep Franzen)

A

Sales response model: genereren van direct gedrag (nu kopen)

  • Brand response: geen (merk is onbelangrijk, brand awareness en acceptance zijn reeds aanwezig of de attitude verandert na het gedrag)
  • Advertising response: aandacht, overtuigingik moet het nu hebben, morgen is het er niet meer, bijv. bij een uitverkoop, promoties, retail
  • Advertising characteristics: feiten, vergelijkingen, peripheral cues
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6
Q

Differences in meaning

  • Perceived quality
  • Perceived value
  • Customer Satisfaction
  • Brand image
  • Product attitude
  • Customer loyalty

Time:: pre or post purchase

Basis:: give or get

Object:: product or customer

Content:: cognitive,, affective or conative

Context:: absolute or relative

Aggregation:: transaction or relationship

A
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7
Q

Explain what we mean with ‘Brand performance’ in the CBBE model

Judged on 5 concepts:

A

Relates to ways in which product or service attempts to (eventually) meet customers’ more functional needs (refers to intrinsic properties of the brand or attributes)

Including:

  • Primary ingredients and supplementary features >> sommige attributen zijn essentiële ingrediënten die zorgen dat een product werkt; andere attributen zijn supplementaire features die zorgen voor customization en een meer gepersonaliseerd gebruik
  • Product reliability, durability, and serviceability >> percepties van productperformance worden beïnvloed door factors als snelheid, nauwkeurigheid, behulpzaamheid, etc.
  • Service effectiveness, efficiency, and empathy >> voldoen aan de service vereisten, de snelheid en responsiviteit van de service, en het gedrag van service providers
  • Style and design >> functionele aspecten en aesthetische aspecten (bijv. vorm)
  • Price >>creëert associaties over hoe relatief duur het merk is, kortingen, etc.
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8
Q

explain the 5 steps of Brand Management

from what firms do to what firms get

A
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9
Q

Likeability Model (Giep Franzen)

A

Likeability model: heeft als doel: merkwaardering en opname in de evoked set

  • Brand response: merksympathie
  • Advertising response: likeability
  • Advertising characteristics: vorm van entertainment, humor, bijv. AH >> het verveelt snel, mensen weten niet meer dat het om jouw merk gaat
  • Examples of circumstances: producten zonder belangrijk doel >> commodity
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10
Q

Explain:

The reactions of the investors to upside versus downside dispersion can be asymmetrical.

A

Increases in downside brand dispersion are more likely to be related to (a) abnormal returns and (b) idiosyncratic risks than those in upside dispersion.

  • Downside dispersion:‘The observed variability in cross-consumer brand ratings when the brand ratings are lower than the neutral point.’
  • Upside dispersion:‘The observed variability in cross-consumer brand ratings when the brand ratings are higher than the neutral point.’
  • Increase in upside dispersion shows a shift to more brand lovers
  • Investors especially pay attention to downside dispersion
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11
Q

More recent includings in the customer journey theory

A
  • Value of non-purchase interactions
  • Positive and negative attitudes, emotions and behaviors
  • Conceptual platform to incorporate social media
  • More clearly recognized the customer’s role in the experience
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12
Q

Explain what we mean with ‘Brand Resonance’ in the CBBE model

descripe its 4 types of properties:

A

Most valuable brand building block

Reflects a completely harmonious relationship between customers and the brand; brand relationships can be characterized in terms of intensity and activity

mate waarin de klant ‘in sync’ is met het merk

Behavioral loyalty: wordt gemeten in termen van de frequentie en hoeveelheid van herhaalaankopen en het aandeel van categorievolume dat aan het merk wordt besteed

Attitudinal loyalty: behavorial loyalty is nodig maar niet voldoende voor resonance. Sommige klanten kopen uit noodzaak, bijv. omdat het merk het enige is wat ze kunnen betalen. Een grotere loyaliteit (resonance) vereist echter een sterke persoonlijke hechting en volledig tevreden consumenten

Sense of community: klanten voelen een aansluiting met andere mensen die zijn geassocieerd met het werk, bijv. werknemers of medeklanten

Active engagement: sterkste bevestiging van merkloyaliteit ontstaat wanneer klanten betrokken zijn, of tijd, energie en geld willen investeren in het merk, naast de uitgaven voor de aankoop en consumptie van het merk

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13
Q

Involvement (relationship) model (Giep Franzen)

A

Involvement (relationship) model: persoonlijke betrokkenheid bij het merk

  • Brand response: brand status, emotional proximity, brand personality
  • Advertising response: gevoel van wederzijds begrip/respect, interactie
  • Advertising characteristics: toonhoogte, ruimte voor interpretatie, uitvoering
  • Examples of circumstances: gevestigde merken, services, B2B producten
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14
Q

Explain how brand equity works as a ‘bridge’

A

Consumer knowledge drives the differences and manifest themselves in terms of brand equity

• Brand as a reflection of the past >> most critical is the quality of the investment in brand building

• Brand as a direction for the future >> true value and future prospects of a brand rests with consumers and their knowledge about the brand

CBBE = Bridge (moderator) tussen stimulus (bv prijs) en response (evaluatie)

Het kennen van een merk leidt tot andere reacties (CBBE) >> Y = response (bijv. evaluatie of keuze), X = stimulus (activiteit die door de organisatie is ontworpen, bijv. prijs). Brand knowledge is een moderator in deze relatie >> verandert de slope.

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15
Q

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016)

what are the 3 stages of customer experience?

(+ relevant factors for each stage)

A
  1. Pre-purchase stage
    • Need cognition, consideration, search
  2. Purchase stage
    • Choice, ordering, payment
  3. Post-purchase stage
    • consumption, usage, engagement, service requests
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16
Q

Give example of ‘The Body Shop’ process to CBBE

All the six building blocks of the pyramid

A
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17
Q

what is the right order from prior to pruchase until post purchase?

6 concepts of how consumers think about a brand

A
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18
Q

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016)

Definition of customer experience:

A

A multidimensional construct focusing on a customer’s cognitive, emotional, behavioural, sensorial and social responses to a firm’s offerings during the customer’s entire purchasing journey.

19
Q

7 branding models by Giep Franzen

A

verbindingen tussen advertising en gedrag:

  1. . Sales response model >> direct behavior
  2. . Persuasion model >> Short-term behavior
  3. . Emotions model >> Brand feelings
  4. . Likeability model >> Brand appreciation
  5. . Awareness model >> Brand awareness
  6. . Involvement model >> Brand involvement
  7. . Symbolism model >> brand representation
20
Q

What is the definition of Customer Based Brand Equity (CBBE)?

A

CBBE = (1) Differential effect that (2) brand knowledge has on (3) consumer response to the marketing of that brand

A brand has positive customer based brand equity when customers react more favorably to a product and the way it is marketed when the brand is identified than when it is not (e.g., when it is attributed to a fictitiously named or unnamed version of the product))

21
Q

Customer experience measurements (3):

A
  • Customer Satisfaction
  • Net Promoter Score (NPS)
  • Customer Effort Score (CES)

Researchers believe that there is an urgent need for the development of new scales for measuring customer experience across entire customer journey due to the fact that current scales are not well developed.

22
Q

Explain the conceptual CBBE model (pyramid)

A

Constructs:

  1. Loyalty
  2. Satisfaction
  3. Perceived Quality
  4. Brand Image
  5. Presence
23
Q

Describe the difference between behavioural loyalty and attitudinal loyalty

A

Behavioral loyalty: wordt gemeten in termen van de frequentie en hoeveelheid van herhaalaankopen en het aandeel van categorievolume dat aan het merk wordt besteed

Attitudinal loyalty: behavorial loyalty is nodig maar niet voldoende voor resonance. Sommige klanten kopen uit noodzaak, bijv. omdat het merk het enige is wat ze kunnen betalen. Een grotere loyaliteit (resonance) vereist echter een sterke persoonlijke hechting en volledig tevreden consumenten

24
Q

Explain what we mean with ‘Brand Judgements’ in the CBBE model

descripe its 4 types of properties:

A

personal opinions and evaluations with regard to the brand

  • Brand quality perceptions : overall evaluation of brand
  • Brand credibility : brand as a whole >> perceived expertise and trustworthiness
  • Brand consideration : when brand is appropriate and meaningful to consumers (depends on cons. personal relevance)
  • Brand superiority : consumers view brand as unique and better than other brands (essential for building intense and active relationships)
25
Q

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016)

4 Types of Touch Points in the Customer Journey

A

BRAND - OWNED :

  • Customer interactions during the experience
  • Designed and managed by the firm and are under firm’s control.
    • They include all brand owned media (e.g. advertising, websites, loyalty programs) brand - controlled elements of marketing mix.

PARTNER - OWNED:

  • Designed, managed or controlled by firm and one or more of its partners (e.g. marketing agencies, multichannel distribution partners, etc) The experience effects of partner - owned touch points are less clear.

CUSTOMER - OWNED:

  • Customer actions part of overall customer experience; (firm and partners cannot control)
    • Customer think about own desires in pre-purchase phase.. During purchase,, the customer’s choice of payment method is a customer-owned touch point,

SOCIAL/EXTERNAL:

  • Other customers, influences, independent info sources, environments.
    • Effects can be comparable or even larger that advertising effects.
26
Q

Differences between:

Perceived Quality

Perceived Product Value

Customer Satisfaction

A

Perceived Quality:

  • About perceptions, not technical quality (ex. leather chair vs plastic chair)
  • Experience and credence attributes in particular (evaluation after the purchase
  • Degree of excellence is relative
  • Cognitive

Perceived Product Value:

  • ​trade-off between benefits and costs (give and get)
  • Interaction with the product is necessary
  • Relative measure

Customer Satisfaction:

  • About the customer (self evaluation)
  • About experience after purchase (interaction is necessary) Surprise
  • Trade-off cost-benefits (was it worth it)
  • Transaction specific (that’s why it’s different from attitude)
27
Q

What are the branding objectives per stage of the CBBE pyramid?

A
28
Q

What are the four steps required for building a strong brand?

branding objective >> stage of brand development

A
  1. Zorgen voor identificatie van en associaties met het merk >> who are you? >> brand identity
  2. Totaliteit van de merkbetekenis vestigen in de hoofden van klanten door tastbare en niet tastbare merkassociaties te linken >> what are you? >> brand meaning
  3. Uitlokken van de juiste klantenreacties op het merk >> what about you? >>brand responses
  4. Brand responses omzetten om brand resonance en een intense, actieve loyaliteitsrelatie tussen klanten en het merk te creëren >> what about you and me? >> brand relationships
29
Q

Symbolism model (Giep Franzen)

A

Symbolism model: merk veranderen in een badge waarde voor de gebruiker, bijv. Armani

  • Brand response: merk krijgt een symbolische betekenis (user image)
  • Advertising response: herkennen van ‘merkpersoonlijkheid’
  • Advertising characteristics: geen informatie, toont lifestyle, gebruik van idolen
  • Examples of characteristics: producten die in sociale situaties worden gebruikt,
  • zichtbare producten, bijv. kleding, drank, etc.
30
Q

Emotions Model (Giep Franzen)

A

Emotions model: creëren van associaties tussen het merk en bepaalde gevoelens

  • Brand response: brand attitude
  • Advertising response: brand registration >> merk wordt belangrijk >> activeren van gevoelens (recall is niet nodig)
  • Advertising characteristics: slice of life >> mensen moeten het kunnen herkennen (bijv. DE), start met het bedrijf, geen informatie (mere exposure effect)
  • Examples of circumstances: producten met hedonische of sociale functies
31
Q

The power of brands lies in consumers’ experience and learning over time. Name 6 Marketing Advantages of strong brands

A
  1. Improved perceptions of product performance
    • Cons. denken dat sterke merken betere merken zijn
  2. More loyalty;; both behavioral and affective
    • zijn bereid prijspremiums te betalen
  3. Less vulnerability to competitive marketing actions and marketing crises
  4. Larger margins and higher profitability
  5. More inelastic consumer response to price increases and more elastic consumer response to price decreases
  6. Greater trade cooperations and support
    • retailers zijn bereid jouw product op te nemen in hun assortiment –> overnemen van nieuwe innovaties en extensies
32
Q

Multichannel perspective (customer journey)

what is:

  • Research shopper:
A

Customer who searches in one channel and purchases in another.

  • Webrooming (search online, buy in store)
  • Showrooming (search in store, buy online)
33
Q

When unsatisfied we can determine who’s fault it is and how bad you should evaluate the brand:

which theory it relevant?

A

Attribution theory

Locus (of control): wie heeft het veroorzaakt? >> interne attributie (je hebt het zelf gedaan) vs. externe attributie (de oorzaak ligt ergens anders)

Stability: is het de eerste keer (temporary) of komt het steeds terug (permanent)

Controllability: is het te voorkomen? >> intentional (kan voorkomen worden) vs. unintentional (overmacht)

34
Q
A
35
Q

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE ( LUO ET AL,, 2013)

3 findings of the paper:

A
  1. Changes in brand dispersion have a direct effect on stock return and idiosyncratic risk.
    • might indicate brand inconsistency (less return)
    • consistent brands can be subject to more consumer defections to rival offers (more risk), OR , more band lovers >> loyal customers (less risk)
  2. This effect is asymmetrical for downside ver sus upside dispersion.
    • ​​Increases in downside brand dispersion are more likely to be related to (a) abnormal returns and (b) idiosyncratic risks than those in upside dispersion.
  3. There are indirect effects (interplay) between dispersion and brand rating.
  • ​Dispersion shows a lack of consensus and limits the social proof of brand ratings. Thus, increase in dispersion weakens the conviction of future cash flows
36
Q

Which of Giep Franzen’s Branding models exlude each other?

A

Modellen die elkaar uitsluiten zijn:

  • Sales response vs Persuasion,
  • Likeability vs Awareness,
  • Emotions vs Symbolism,
  • Involvement vs Awareness.
37
Q

what is a brand attitude?

A
  • Gevoel en filter voor selectie en interpretatie van informatie.
  • Hiervoor is interactie met het object niet noodzakelijk.
  • De attitude brengt een trade-off tussen benefits en kosten met zich mee.
  • De attitude vormt een scharnier tussen denken (cognitie), voelen (affectie) en doen (conatie). Doen is hierbij een actiegeneigdheid, bijv. ik zou die wel willen hebben.
  • Attitude bestaat uit een aggregatie van alle satisfactions voor een merk en is een relatieve maatstaf.
38
Q

Persuasion model (Giep Franzen)

A

Persuasion model: genereren van gedrag op de korte termijn

  • Brand response: brand attitude en behavorial intention (gebaseerd op features en benefits)
  • Advertising response: brand registrationmerk wordt belangrijk, kom met argumenten >> conviction
  • Advertising characteristics: feiten, argumenten, branding en getuigenissen
  • Examples of circumstances: voor functionele, probleemoplossende producten
39
Q

Explain what we mean with ‘Brand Feelings’ in the CBBE model

descripe its 4 types of properties:

A

Responses and reactions with respect to the brand and to the social currency evoked by the brand.

Positive <–> negative

mild <–> intense

o Experiential and immediate >> warmth, fun, excitement, indulgence

o Private and enduring >>security, social approval, self-respect

40
Q
A
  • The items are not mutually exclusive nor exhaustive (ee..gg.. attributes and benefits overlap,, also recall and recognition do not add - up))
  • Items like “ttypes of brand associations”” cannot be measured.
  • Brand awareness and brand image are not independent concepts but are related.
  • Model doesn’t give arrows or directions that signal causal relationships (Unknown if ex. Image is total or the average of all associations)
  • In order to create brand knowledge, brand awareness is required
41
Q

Difference between Perceived Quality and Brand Image

A

Image gaat over één product, PQ gaat over het vergelijken met andere producten

42
Q

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE (LUO ET AL,, 2013)

Explain:

According to the findings, managers should pay close attention to dispersion and adopt it as a brand metric considering that dispersion can limit the rewards a company can earn from brand rating improvements.

A

Dispersion’s indirect role is related to its ability to affect investor’s confidence in brand rating.

  • According to that, a higher dispersion can tell that brand rating improvements might not be credible, reliable or certain;
    • Dispersion shows a lack of consensus and limits the social proof of brand ratings. Thus, increase in dispersion weakens the conviction of future cash flows that is expected from brand improvements.
43
Q

Awareness Model (Giep Franzen)

A

Awareness model: creëren van top of mind awareness >> aankoopgedrag

  • Brand response: brand awareness (geen attitude verandering)
  • Advertising response: aandacht, herinnneren van reclame
  • Advertising characteristics: doorbreken van conventies, humor, bijzondere /schokkende dingen, bijv. Axe
  • Examples of circumstances: impuls producten, homogene producten
44
Q

Discussion Branding models by Giep Franzen

A
  • Deze modellen zijn geen bewijs dat reclame precies op deze manier merkt.
  • Ook biedt dit geen tool om commercials te classificeren.
  • Deze modellen verzorgen een compleet overzicht van hoe advertising meestal werkt. Het biedt een tool om de doelstellingen van een campagne vast te stellen, en de zichtbare criteria voor het meten van reclame-effectiviteit vast te stellen.

Modellen die elkaar uitsluiten zijn:

  • Sales response vs Persuasion,
  • Likeability vs Awareness,
  • Emotions vs Symbolism,
  • Involvement vs Awareness.

Brand Management (6 decks)

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