Exam 1 Flashcards
Brand narrative components
- Branding
- Positioning
- Media Landscape
- Marketing Communications
- Outcomes
Aspects of marketing communication
- Marketing Communication strategy
- Marketing communication mix
Examples of marketing communication mix
- Advertising
- Public Relations
- Direct Marketing
- Personal Selling
- Promotional Activities
Regarding brand narrative components: Outcomes includes
- Brand and customer equity
- Relationships
- Advocacy
What is the consumer decision making process
- Need or problem recognition
- Information search
- Pre-purchase evaluation of alternatives
- Purchase decision
- Consumption
- Post-consumption evaluation
The purpose of marketing communication
Develop a continuing dialogue with target audiences to build brand equity, brand associations, brand dominance, and brand prospects
What is the goal of brand associations
Encourage linkages with places, personalities, and emotions
Brand-consumer interaction
All points of contact with the brand ‘talk’ to existing and potential customers and help constitute brand meaning
The Brand Social System
The interface between the company, customer, and media.
What is the exposure experience?
When a consumer comes into contact with the brand and subjective evaluation occurs.
The Marketing Mix - 4P’s
- Product
- Price
- Promotion
- Place
What are the 3 parts of the Integrated Communication Triangle
- What the firm says
- What the firm does
- What others say and do
Integrated Communication Triangle: What is included in what the firm says
- Sales
- Advertising
- Direct Response
- Sales promotion
- Websites
Integrated Communication Triangle: What is included in what the firm does
- Deliveries
- Usefulness of products
- Production Processes
- Service processes
- Enquiries, Claims
Integrated Communication Triangle: What is included in what others say and do
- Public relations
- New stories
- Word of mouth
- Customer impact on service processes
How and why do most organizations extend the brands narrative?
On a website, it gives the company an opportunity to engage in some form of dialogue or brand conversation in which interactivity is critical.
What are the 3 simultaneous levels of marketing communication effects?
- The processing of the actual communication itself (e.g. press advertisement)
- The stage in the decision making process (e.g. searching for information)
- The overall stage in the brand communication effects (e.g. selection of brand preference)
Conventional Linear model of communication
Sender > Encoder > Channel (Noise) > Decoder > Receiver > Feedback
In relation to marketing drivers are…
The cause
What are the four tenants of causality?
- Temporal priority
- Co-variation of the cause and effect
- Necessity
- Sufficiency
Information processing theory applied to products and branding
- Products are the topics
- Brands are the sources
- Media Content is the message
Buyer Behavior Consists of…
Pre-purchase, purchase, and post-purchase issues from the consumers and marketers perspective
Buyer Behavior: Pre-purchase issues - consumers perspective
How does a consumer decide what (s)he NEEDS or WANTS? What sources of info are required
Buyer Behavior: Pre-purchase issues - marketers perspective
How are attitudes formed? What COMMUNICATION CUES are used to infer brand differences?
Buyer Behavior: Purchase issues - consumers perspective
Is purchase a STRESSFUL or PLEASURABLE experience? What does it say about the consumer?
Buyer Behavior: Purchase issues - marketers perspective
How do SITUATIONAL FACTORS (like time pressures, displays) affect the consumer’s purchase decision?
Buyer Behavior: Post-Purchase issues - consumers perspective
Does the product or service provide PLEASURE or FUNCTION? What are the environmental consequences of purchase?
Buyer Behavior: Post-purchase issues - marketers perspective
What determines SATISFACTION with product or service? Does this person tell others about his/her experience?
What are the ways in which consumers determine brand value?
- Functional value
- Social value
- Emotional Value
- Epistemic Value
- Conditional value
What is functional value?
The capacity of the brand to fulfill practical requirements
What is social value?
Some brands are perceived as offering value because of their ability to enable affiliation with other groups
What is emotional value?
Is acquired when a brand perpetuates specific feelings
What is epistemic value?
The curiosity factor in a puchase
What is conditional value?
Certain situational factors such as a celebration of events (ex. birthdays) carry another level of significance above the functional, social and emotional levels.
What are the information motives?
- Problem removal
- Problem avoidance
- Mixed approach avoidance
- Incomplete satisfaction
- Normal depletion
Information motive: problem removal
Activated when consumers perceive that a problem needs solving or regular tasks have to be satisfied
Information motive: Problem avoidance
Sometimes consumers perceive that problems may happen and are motivated to make sure that they avoid a future problem. ex. insurance
Information motive: Mixed approach avoidance
Consumers like some parts but dislike other parts of a product.
Information motive: Incomplete satisfaction
Where existing brands don’t fully answer needs, new brands may capitalize by offering something better
Information motive: Normal depletion
Regular replenishment of purchase ex. milk, eggs, pasta etc.
What are the transformation motives?
- Sensory gratification
- Social approval
- Intellectual stimulation or mastery
Transformation motive: sensory gratification
The purchase motivation is about sensory experience
Transformation motive: Social approval
Consumers reduces their uncertainty by comparing behaviors of others to make sure they fit in socially.
Transformation motive: Intellectual stimulation or mastery
Consumers want to learn more, get intellectual challenges, and to master new challenges
Name all of the brand loyalty segments:
- Brand loyals (BL’s)
- Favorable brand switchers (FBS’s)
- Other-brand switchers (OBS’s)
- Other-brand loyals (OBL’s)
- New category users (NCU’s)
Message effects includes
- Category need
- Brand awareness
- Brand preference
- Brand purchase
- Purchase facilitation
Diffusion of innovations theory.
- Innovators
- Early adopters
- Early majority
- Late majority
- Laggards
Integrated marketing communication must have
clear messages that are consistent across platforms
Advantages of integrated marketing communication
- Provides short cuts to understanding what a brand stands for.
- Adds depth to a particular message or set of brand values
- Demonstrates professionalism on the part of the brand owner.
The 5Rs of marketing communication planning
- Responsiveness
- Relevance
- Receptivity
- Recognition
- Relationships
B2B Push Strategies
Some manufactures will deal through intermediaries who provide bulk breaking and cost advantages as well as access to markets for the company. They offer time, choice, location and added value utilities to end users
B2C Pull strategies
TV advertising and direct marketing campaigns aimed at the consumer which is a Business to consumer circular communication flow, since feedback allows for two way dialogue.
B2C Push/Pull Strategies
Some companies do not deal through intermediaries and have a direct link with their end customers and have a direct business to customer circular flow of both transaction and communication.
R2C Push/Pull Strategies
The switch of power to retailers has made the business to consumer relationship much more meaningful than ever before and retailers invest heavily in sustaining this R2C flow of communication.
B2B Push/Pull Strategies
Some companies supply direct to other businesses and organizations on a contract basis or sell to other manufactures.
Strategic positioning aspects triangle
- Customer assessment: customer characteristics and eneds profile
- Company Assessment: Brand equity, history and reputation in segment and/or category need
- Competitor Assessment: Positioning of competition, value proposition
Similarity vs. typicality
Similarity: describe brand to brand comparisons
Typicality: Is the degree to which a brand is characteristic of its product category
Market segmentation
A market is typically segmented into different audiences.
Steps to Conduct Cluster Analysis (5)
- Selection of sample
- Definition of a set of variables on which to measure the entities in the sample
- Computation of the similarities among the entities
- Use of a cluster analysis method to create groups or similar entities.
- Validation of the resulting cluster solution
Elements of brand persona include
- Brand personality
- Current and future brand character
- Strength of brand equity
- Brand recognition
Four strategic positioning questions
- Is the new product innovative or not?
- Is the new product likely to be an international brand in the future?
- Is the new product likely to produce line extensions, or to be part of a range?
- What is the nature of the protection that the brand can be afforded?
Brand Quality
- A brand has to have absolute positioning: parity and similarity to other brands in the category
- Relative positioning: difference from the competition
Brand trust and loyalty serves as
- Protection from competitive intrusion
- How to ensure future purchase
Define hedonic needs
Products and/or services used for luxury purposes
Define Utilitarian Needs
Products and/or services purchased for practicality and consumer needs
Model of needs and message strategies
Made up of hedonic and utilitarian needs- sectors are:
- Ego, Social, and Sensory
- Routine, acute need, rational
Name the hedonic needs
- Ego
- Social
- Sensory
Name the utilitarian needs
- Routine
- Acute need
- Rational
Hedonic Need explain ego
Emotionally important purchases, allowing consumers to make an identity statement.
Hedonic Need explain Social
Appeals for brands which make a statement to others focusing on getting noticed and gaining social approval.
Hedonic Need explain sensory
The role of marketing communications to convey sensory transformation. ex. music, clothing, fragrances
Utilitarian Needs explain routine
Rational buying motives where consumer do not spend a lot of time deliberating and buy according to habit.
Utilitarian Needs explain acute need
Need is fairly urgent. Lack of time limits the amount of information hat can be gathered. Consumers are likely to choose only what is available. In these situations brand familiarity and recognition are important.
Utilitarian Needs explain rational
Consumers are rational, conscious, calculated, and well informed. So there is going to be no rush when purchasing that product or service. In this case the company will want to highlight comparisons and uniqueness
Tactical Positioning Techniques include
- Brand Names
- Logos
- Typefaces
- Packaging
Linking positioning to strategy and tactics
- Tactics: what the consumer can see
- Strategy: What the consumer can’t see
Brand Names Should
- Allow the brand to become part of everyday life by enabling consumers to specify, reject, or recommend brands.
- Communicate overtly or covertly
- Be a valuable asset as a legal device
Liking a brand is
The attitude we have towards a brand depends on what benefits consumers obtain from the brands image and owning the product
Branding awareness and attention
Consumers should be able to easily recognize and recall the brand name and understand the brand’s central proposition from the message content.
What is purchase facilitation?
The buyer’s assurance that images and associations projected by positional tactics will not hinder purchase
What is category need?
A perceived discrepancy between the current motivational state and the desired motivational state has to be satisfied.
Why integrate Marketing communication?
- To complement and reinforce each other
- Provides cohesiveness and consistency
- Synergy of brand and customer
Key distinctions about communication
- The promoting to communication with dichotomy
- Should promotion be segregated as an instrument of the marketing mix
- Or should communication be a pervasive, cross-discipline, integrating force
