(6.2) Brands and personal wellbeing

Question 1

Define wellbeing

Answer 1

Well being is the balance point between an individual’s resource pool and the challenges faced (all psychological, social and physical)

Question 2

Wellbeing = trending?

Answer 2

Last 10 years
Especially after Covid: balance under threat
Wellbeing is generally under serious pressure: more depressive disorders, anxiety, … and more for females!

Question 3

Explain the dual force of digitalization and globalization

Answer 3

Consumers work and live = virtual, fact-paced and mobile.
Major consumer trends suggest that many customers seek to go back to local, personal and traditional&raquo_space; connect to place, people and past via products.

Question 4

Explain the need of groundedness

Answer 4

Groundedness = feeling of being emotionally rooted

Question 5

Why is groundedness relevant to marketing and brands?

Answer 5

It provides an explanation for trends
Marketing mix and consumer characteristics –> consumer’s connection to place, people, past –> feeling of groundedness –> product attractiveness and consumer well being

In numbers: 60%+ WTP for small and indepedent businesses in soap

Feeling grounded makes consumers feel happier and increases their sense of strength and stability

Question 6

How to design the marketing mix to more groundedness?

Answer 6

• Brand narrative
• Origin information - local
• Product design - more traditional
• Distribution - farmers market
• Retail assortment (traditional assortment)

Question 7

Which consumer segments to target for a higher need of groundedness?

Answer 7

• Lot of work behind desks
• Higher socio-economic status
• More affected by Covid
• Live in a big city

Question 8

How to define personal control?

Answer 8

Person’s belief that he or she is capable of obtaining desired outcomes, avoiding undesired outcomes and achieving goals –> many people don’t have this feeling and perceive today’s world as more chaotic

Question 9

What are brand leaders?

Answer 9

Brand superiority and corresponding scale within its category or industry – dominance related to category market share.
More influental in markets but also culturally

Question 10

What are the findings of 5 experiments on personal control and brand leaders?

Answer 10

• Significant leader x crime interaction on purchase intentention
• Low-control individuals are likely to choose brand leaders
• Brand agency is a key feature of brand leadership
• Sense of personal agency identified as mediator
• No supporting alternative causal explanations

Question 11

What are the implications of all this research on personal control and brand leaders?

Answer 11

• People with low personal control: tend to go for brand leaders to feel a greater sense of personal agency
• Brand leaders enjoy benefits through their perceived ability to yield influence the world