Chap 2: Manage products, services and brands Flashcards
Definition of branding
deChernatory and Dall’Olmo Riley, 1998
a complex multidimensional construct that matches with firm’s functional and emotional value with performance and psychological needs of customers.
12 definitions of brands
deChernatory and Dall’Olmo Riley, 1998
Logo, company, image, legal instrument, evolving entity, personality, relationship, shorthand, identity system, adding value, risk reducers, value system.
Three most important: value system, personality, image
7 factors contribute to brand success
Jobber and Ellis Chadwick, 2016
Quality, Positioning, Repositioning, Internal marketing, Being first, Long-term perspective, Well-blended communication.
5 key gaps in service quality model
Parasuman, 1985
Consumer expectation - Management perception - Translation of perceptions into Service-quality specification - Service delivery - External communcations
Perceived quality - Consumer expectation.
Marketing intangible products and product intangibles means … (Levitt, 1981)
- All products have elements of tangible and intangible.
- Customers are buying the promise of satisfaction. But “promises” have to be tangibilized by using metaphor of package design, presentation, etc.
- The difficulty for intangibles: high-people intensive operation; customers are only aware of failure and dissatisfaction.
4 characteristics of service
Perishability, Intangibility, Inseparability, Variability
The difference between goods and services
Services have high Credence and Experience quality than Goods
5 dimensions of service quality
Reliability, Responsiveness, Tangibles, Assurance, Empathy
Consequences of using service (for consumers)
- Due to high switching cost: Consumer inertia => challenging to entice business away from competitors.
- Rely on WOM than advertising
- Rely heavily on price, providers and physical cues to judge quality
- Highly loyal to service providers who satisfy them
