Lecture 7: Marketing: Marketing and implementation

Question 1

Touchpoint

Answer 1

Any time the business touches and is touched by customers in different ways, whether by human, product, service, communication, spatial and/or digital interactions

Question 2

Consumer decision journey (digital technology)

Answer 2

1. Consider: consider the evoked set( 3-4 brands from the range of brands in the product/service category), also known as “top of mind” products
2. Evaluate: study the evoked set brands and include and exclude brands following offline or online information search
3. Buy: purchase online or offline
   Enjoy-advocate-bond: when they are please, they may advocate for the brand online, adding to the sources for evaluation of others, or post negative comments

Question 3

Two main implications of the consumer decision journey perspective

Answer 3

1. Marketers should target stages in the consumer decision journey, and not just to the consider and buy stage
2. Marketers should study own media, ie. The channels they control or owns such as its website or company sponsered social networking sites, as well as earned media (customer created channels such as brand communities)

Question 4

Earned media

Answer 4

Customer created channels such as brand communities where companies have to earn positive comments rather than being able to pay for them

Question 5

Linking social netowrking and the consumer decision journey

Answer 5

Initial consideration: social networking can be used to place the brand in the forefront of the consumers’ minds at all times, which might put the brand in the evoked set brands at a later stage

Active evaluation: social networking can be used for word of mouth, reviews and recommendations, for instance from influencers, so brands can interact wuth influencers and appeal to their target audiences

Post purchase experience: if a product is promoted online, consumers can also go online and look further into useful functions and features after purchase

Loyalty loop: if a customer follows the social media, they are somewhat on their way to becoming brand loyal, and they can also turn into brand advocates

Question 6

Brand community

Answer 6

A group of people who share an interest in a specific brand and create a parallel social universe with its own values, rituals, vocabulary and hierachy

Question 7

Digital brand community

Answer 7

Online or virtual brand community, is a social network of individuals who interact through specific technologies, crossing geographical and political boundaries

Question 8

Three types of brand communities

Answer 8

1. Exclusively consumer driven with no accepted interference from companies (e.g. fan clubs such as Star Trek)
2. Company driven with input from consumers or customers (e.g. Saatchi & Saatchi’s lovemarks.com, which is attributed to brands that are high in customer respect and love - also sounds like TrustPilot)
3. Customer-company “joint ventures” (e.g. the Lego community website or the Burberry site Art of the Trench)

Question 9

Ten steps as guidelines when taking a brand global

Answer 9

1 Understand the similarities and differences in the global branding landscape (consumer behavior, marketing infrastructure, legal restrictions)

2 Don’t take shortcuts in brand building (build positive brand images in each country)

3 Use all elements of the marketing mix (4Ps, change products/price/sales channels depending on culture)

4 Embrace integrated marketing communications.

5 Cultivate brand partnerships and establish interfaces.

6 Balance standardisation and customisation needs (mustlook at factors like economic environments, political environments, cultures so the strategy maximizes standardisation, homogenisation and integration of marketing activities)

7 Balance global and local management control (three main approaches to organization for a global marketing effort: centralised at home office or headquarts, decentralisation of decision making to foreign markets, and some combination of centralisation and decentralisation)

8 Establish operable guidelines (establish brand guidelines)

9 Implement a global brand equity measurement system (a set of measurement procedures to provide timely, accurate and actionable information for marketers on how the brand is performing in each market)

10 Leverage brand elements (proper design and implementation of brand elements, e.g. logos and symbols can usually be transferred more directly compared to verbal brand elements)