Overall Flashcards
Brand cannibalisation risk
Market cannibalization is measured by the cannibalization rate, the number of lost sales for old products as a percentage of new sales. Products with similar branding are most at risk of cannibalization.
Brand dilution risk ..
concerns the loss of meanings that differentiate a brand from its competition. Brand differentiation, more than any other brand quality, drives market share and penetration.
Brand stretch risk
. A brand with concrete meanings has less room to grow and hence greater stretch risk. reduces a company’s ability to take advantage of new market opportunities, new technologies or changing consumer tastes through the introduction of new, tailored offerings.
High returns from strong brands: by 4
differentiation, brand platform, loyalty and internal branding
Core business model: transactional vs relational
Relational more about interaction and co-creation; Transactional more about creating touch points and coherence
3 tiers of customer experience management
- Central firm capabilities: Continous renewal of CE’s
o Touchpoint: - journey design
- prioritization
- journey monitoring
- adaptation
- Set strategic directions: Designing CE’s
o Touchpoints’: - thematic cohesion
- consistency
- context sensitivity
- connectivity
- Cultural Mindset: Focus on CE’s
o Orientation towards: - experiential responses
- touchpoint journey
- alliances
from MO to CEM
customer orientation –>
competitor orientation –>
cross-functional coordination –>
in MO not included —>
exploiative mindset –>
Sub-phenomena: c
Phenomena:
Super-phenomena:
Sub-phenomena: consumption experiences
Phenomena: marketing networks
Super-phenomena: sustainability society
proactive mo
(market-oriented)
Orientation:
style:
focus:
objective:
learning type:
learning:
processes:
focus:
Orientation: expressed wants
style: responsive
focus: short-term
objective: customer satisfaction
learning type: adaptive
learning: customer serveys
processes: key account/focus groups
focus: statisfaction and realtionships, stable environments
different marketing model for tackling poverty The needs-means hierarchy
More value-added must be located near value consumption. Automated small scale production distributed as close to the consuming populations as possible is the solution. Only then can the needs-means hierarchy become self-generating and self-sustaining.
different marketing model for tackling poverty The distributed production-consumption model.
Sustainable production- consumption networks are those that directly engage the predominant indigenous sources of livelihood in a community.
Q
that the strategic directions of CEM extend MO and CRM for the following greasons:
e extend MO since the concept is largely silent on marketfacing, strategic attributes of marketing management. CRM, in turn, alludes to designing CEs by cocreating value for the total buying experience, not just the core product.
the identified firm capabilities of CEM extend MO and CRM by representing
a dynamic system for organizational ambidexterity—that is, the synchronization and balancing of incremental and radical market innovations
- Exploitative mindset -> ambidexterity (exploitative and explorative)
experiential response orientation: extends MO’s customer orientation in terms of
today, sensing and responding to customer needs goes well beyond focusing on cognitive, affective, and relational customer responses to also entailing sensorial and behavioral customer responses (
Frame of reference
how you define your market
o Product category or customer need
sawhney 4w is for getting the
customer insights
Image management process 2 steps
Uncover relevant MECs via research
a. Triadic sorting to derive product knowledge [A] & [C]
b. Laddering to link product knowledge to consumer self [V]
i. Very similar to Pai & Arnott 2013!
Translate research ramework into advertising framework
a. Implementation: from MECto MECCAS! so that’s the new stuff!
Dolans 5 C Analysis is a marketing framework to analyze
the environment in which a company operates. It can provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.
Frame of reference –
how you define your market
Closing the marketing capabilities gap
What new marketing capabilities will be needed? How will they be built? How will they help make the entire organization more adaptive? 3 steps
First, enhance adaptive marketing capabilities (vigilant market learning, adaptive experimentation, and open marketing).
Second, these capabilities work best with adaptive business model with robust market orientation.
Third, the familiar marketing-mix capabilities must become dynamic and havean adaptive strategy
Q
4 Action Framework Eliminating
The first question forces a company to consider eliminating factors that companies in an industry have long competed on.
4 Action Framework reducing
he second question forces a company to determine whether products or services have been over-designed in the race to match and beat the competition.
4 Action Framework Raising
The third question pushes a company to uncover and eliminate the compromises an industry forces customers to make.
4 Action Framework creating
The fourth question helps a company to discover entirely new sources of value for buyers and to create new demand and shift the strategic pricing of the industry.
difference between marketing tactics and strategy
Marketing strategy defines priority markets, audiences and products. This is where Segmentation, Targeting and Positioning fits. Tactics will involve devising the best way to communicate these to audiences but typically won’t involve a strategic review of which are the best audiences or product/market fit.
Sub-branding is associated with higher abnormal returns than a BH
strategy
investors appreciate the demand-side benefits afforded by sub- branding’s ability to
target niche market segments with semicustomized brand offerings while also maintaining
some supply-side scale and scope economies afforded through use of a unified corporate
brand.
Sub-branding also provides higher returns versus the HOB
stemming from added supply-side
benefits.
what does significantly improve the firm’s idiosyncratic risk profile versus the pure BH.
The BH-HOB hybrid The BH-HOB hybrid
Sub-branding offers enhanced returns versus the pure BH strategy suggests that
s that the
outperformance of the BH architecture was likely driven by the subbranding variant rather
than by the pure BH itself.
: sub-branding is associated with higher idiosyncratic risk relative to
bh
