Chapter 5: designing marketing programs to build brand equity

Question 1

What is experiental marketing?

Answer 1

Promote products with intersting consumer experiences, not only with fdeatures of the product.

Question 2

What are the advantages of branded experiences?

Answer 2

• Expand brand awareness among new segments
• Build brand buzz - customers sharing on social media
• Reshape consumers’ perceptions

Question 3

What is relationship marketing?

Answer 3

Provide a more holistic, personalized brand experience to create stronger consumer ties.
Put consumer needs front and center of marketing programs

Question 4

What is mass customization?

Answer 4

making products fit customers’ exact specifications.
Offer customized products on a previously unheard scale

Question 5

Location-based marketing

Answer 5

companies tailor offerings depenmding on where their consumers live

Question 6

What is permission marketing

Answer 6

Marketing only to customers who gave express permission to do so. This might lead to stronger relationships with consumers

Question 7

What are the steps of permission marketing?

Answer 7

1. Situational permission = Prospects permit to access personal info
2. Brand trust = allow to provide for their needs
3. Personal relationship = offer informatipon based on relationship with providerr\
4. Incentive-based permission = maintain permission by use of incentives (prizes, points etc.)
5. Intravenous permission = customer is dependent on company

Question 8

Participation/engagement marketing

Answer 8

`Marketers and consumers try to work together to find how firms can best satisfy consumer goals

Question 9

What is perceived quality?

Answer 9

A customers’ perception iof the overall quality or superiority of a product. This is not only about the functional product performance, but also performance considerations as speed, accuracy and care of product delivery and installations

Question 10

What is after makreting?

Answer 10

Marketing in the post purchase stage, so marketing after the purchase of a product

Question 11

What are examples of after marketing?

Answer 11

1. user manuals -> often too complicated, because created by engineers, can be updated clearly so customers know how to use the product
2. Customer service programs
3. Loyalty programs

Question 12

benefits and disadvantages of customer service programs

Answer 12

Benefits:
1. ability to connect with customerrs
2. Valuable feedback

Disadvantages of poor customer service:
1. Create significant negative publicity
2. has the potential to go viral because of social media and damage reputation

Question 13

Loyalty programs

Answer 13

Makes marketeers able to create stronger ties with customers.
Purpose is: identifying, maintaining and increasing te yield to firms’ best customers

Question 14

What are 2 forms of choosing price strategy?

Answer 14

1. method for setting current prices
2. Choosing the depth and duration of promotions and discounts

Question 15

What are price bands?

Answer 15

the flexibility and breadth marketeers can adopt in pricing their brands

Question 16

What is value pricing