11 + 12

Question 1

Explain what we mean with ‘Brand Imagery’ in the CBBE model

descripe its 4 types of properties:

Answer 1

Deals with the extrinsic properties of the product or service, incl. the ways in which brand (eventually) attempts to meet customers’ psychological or social needs

• User profiles >> gaat over de persoon of organisatie die het merk gebruikt >> baseren op factoren als geslacht, leeftijd, ras, inkomen, etc.
• Purchase and usage situations >> vertelt consumenten onder welke omstandigheden ze het product moeten kopen of gebruiken >> kan relateren aan het soort channel (bijv. Internet), bepaalde winkels (bijv. Macy’s) of het gemak van aankooptijd, locatie, waar te gebruiken en wanneer te gebruiken
• Personality and values >> merken kunnen persoonlijkheidstrekjes aannemen sincerity, excitement, competence, sophistication, ruggedness
• History, heritage, and experiences >> bijv. associaties die zijn gerelateerd aan de persoon die het product maakt, land van herkomst, sponsorevenementen, etc. >> POD

Question 2

Explain what we mean with ‘Brand Saliance’ in the CBBE model

Answer 2

• Aspects of brand awarness : how easy the brand is available in memory in relevant situations
• Saliance is necessary but not sufficient
• Brand associations are directly and indirectly formed

including:

• Breadth and depth of awarness: (breadth: Purchase consideration / depth: how easy is the brand available in memory (recognition and recall)) ex. Toen Tropicana haar verpakking veranderde, was het merk niet goed herkenbaar >> consumenten dachten dat het uitverkocht was >> omzet daalde
• Product Category structure: How product categories are organized in memory. Producten worden geordend naar hiërarchie
• Strategic implications: where, when, how easyily and often consumers think of the brand (4 o’clock Cup-a-soup)

Question 3

How does customers determine if they are satisfied?

Answer 3

Equity Theory

(fairness)

The consumer compares his input with the output as well as with the input and output of the supplier and assesses what is reasonable or “equitable”.

Question 4

What is brand dispersion and why is it important?

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE (LUO ET AL,, 2013)

Answer 4

The heterogeneity (variance) in evaluations across customers

Is important because variance can inform on short term brand performance:

• If the variance is brand discordance (unstable) >>
  
  • dispersion might be a bad signal.
• If the source is stable heterogeneity in evaluations >>
  
  • dispersion can be a good thing (sign of popular or niche brand lovers)
  • a bad thing (there is a core of dissatisfied users and brand haters)
  • or a neutral sign..

Question 5

Sales response model (Giep Franzen)

Answer 5

Sales response model: genereren van direct gedrag (nu kopen)

• Brand response: geen (merk is onbelangrijk, brand awareness en acceptance zijn reeds aanwezig of de attitude verandert na het gedrag)
• Advertising response: aandacht, overtuigingik moet het nu hebben, morgen is het er niet meer, bijv. bij een uitverkoop, promoties, retail
• Advertising characteristics: feiten, vergelijkingen, peripheral cues

Question 6

Differences in meaning

• Perceived quality
• Perceived value
• Customer Satisfaction
• Brand image
• Product attitude
• Customer loyalty

Time:: pre or post purchase

Basis:: give or get

Object:: product or customer

Content:: cognitive,, affective or conative

Context:: absolute or relative

Aggregation:: transaction or relationship

Answer 6

Question 7

Explain what we mean with ‘Brand performance’ in the CBBE model

Judged on 5 concepts:

Answer 7

Relates to ways in which product or service attempts to (eventually) meet customers’ more functional needs (refers to intrinsic properties of the brand or attributes)

Including:

• Primary ingredients and supplementary features >> sommige attributen zijn essentiële ingrediënten die zorgen dat een product werkt; andere attributen zijn supplementaire features die zorgen voor customization en een meer gepersonaliseerd gebruik
• Product reliability, durability, and serviceability >> percepties van productperformance worden beïnvloed door factors als snelheid, nauwkeurigheid, behulpzaamheid, etc.
• Service effectiveness, efficiency, and empathy >> voldoen aan de service vereisten, de snelheid en responsiviteit van de service, en het gedrag van service providers
• Style and design >> functionele aspecten en aesthetische aspecten (bijv. vorm)
• Price >>creëert associaties over hoe relatief duur het merk is, kortingen, etc.

Question 8

explain the 5 steps of Brand Management

from what firms do to what firms get

Answer 8

Question 9

Likeability Model (Giep Franzen)

Answer 9

Likeability model: heeft als doel: merkwaardering en opname in de evoked set

• Brand response: merksympathie
• Advertising response: likeability
• Advertising characteristics: vorm van entertainment, humor, bijv. AH >> het verveelt snel, mensen weten niet meer dat het om jouw merk gaat
• Examples of circumstances: producten zonder belangrijk doel >> commodity

Question 10

Explain:

The reactions of the investors to upside versus downside dispersion can be asymmetrical.

Answer 10

Increases in downside brand dispersion are more likely to be related to (a) abnormal returns and (b) idiosyncratic risks than those in upside dispersion.

• Downside dispersion:‘The observed variability in cross-consumer brand ratings when the brand ratings are lower than the neutral point.’
• Upside dispersion:‘The observed variability in cross-consumer brand ratings when the brand ratings are higher than the neutral point.’
• Increase in upside dispersion shows a shift to more brand lovers
• Investors especially pay attention to downside dispersion

Question 11

More recent includings in the customer journey theory

Answer 11

• Value of non-purchase interactions
• Positive and negative attitudes, emotions and behaviors
• Conceptual platform to incorporate social media
• More clearly recognized the customer’s role in the experience

Question 12

Explain what we mean with ‘Brand Resonance’ in the CBBE model

descripe its 4 types of properties:

Answer 12

Most valuable brand building block

Reflects a completely harmonious relationship between customers and the brand; brand relationships can be characterized in terms of intensity and activity

mate waarin de klant ‘in sync’ is met het merk

Behavioral loyalty: wordt gemeten in termen van de frequentie en hoeveelheid van herhaalaankopen en het aandeel van categorievolume dat aan het merk wordt besteed

Attitudinal loyalty: behavorial loyalty is nodig maar niet voldoende voor resonance. Sommige klanten kopen uit noodzaak, bijv. omdat het merk het enige is wat ze kunnen betalen. Een grotere loyaliteit (resonance) vereist echter een sterke persoonlijke hechting en volledig tevreden consumenten

Sense of community: klanten voelen een aansluiting met andere mensen die zijn geassocieerd met het werk, bijv. werknemers of medeklanten

Active engagement: sterkste bevestiging van merkloyaliteit ontstaat wanneer klanten betrokken zijn, of tijd, energie en geld willen investeren in het merk, naast de uitgaven voor de aankoop en consumptie van het merk

Question 13

Involvement (relationship) model (Giep Franzen)

Answer 13

Involvement (relationship) model: persoonlijke betrokkenheid bij het merk

• Brand response: brand status, emotional proximity, brand personality
• Advertising response: gevoel van wederzijds begrip/respect, interactie
• Advertising characteristics: toonhoogte, ruimte voor interpretatie, uitvoering
• Examples of circumstances: gevestigde merken, services, B2B producten

Question 14

Explain how brand equity works as a ‘bridge’

Answer 14

Consumer knowledge drives the differences and manifest themselves in terms of brand equity

• Brand as a reflection of the past >> most critical is the quality of the investment in brand building

• Brand as a direction for the future >> true value and future prospects of a brand rests with consumers and their knowledge about the brand

CBBE = Bridge (moderator) tussen stimulus (bv prijs) en response (evaluatie)

Het kennen van een merk leidt tot andere reacties (CBBE) >> Y = response (bijv. evaluatie of keuze), X = stimulus (activiteit die door de organisatie is ontworpen, bijv. prijs). Brand knowledge is een moderator in deze relatie >> verandert de slope.

Question 15

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016)

what are the 3 stages of customer experience?

(+ relevant factors for each stage)

Answer 15

1. Pre-purchase stage
   
   • Need cognition, consideration, search
2. Purchase stage
   
   • Choice, ordering, payment
3. Post-purchase stage
   
   • consumption, usage, engagement, service requests

Question 16

Give example of ‘The Body Shop’ process to CBBE

All the six building blocks of the pyramid

Answer 16

Question 17

what is the right order from prior to pruchase until post purchase?

6 concepts of how consumers think about a brand

Answer 17

Question 18

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016)

Definition of customer experience:

Answer 18

A multidimensional construct focusing on a customer’s cognitive, emotional, behavioural, sensorial and social responses to a firm’s offerings during the customer’s entire purchasing journey.

Question 19

7 branding models by Giep Franzen

Answer 19

verbindingen tussen advertising en gedrag:

1. . Sales response model >> direct behavior
2. . Persuasion model >> Short-term behavior
3. . Emotions model >> Brand feelings
4. . Likeability model >> Brand appreciation
5. . Awareness model >> Brand awareness
6. . Involvement model >> Brand involvement
7. . Symbolism model >> brand representation

Question 20

What is the definition of Customer Based Brand Equity (CBBE)?

Answer 20

CBBE = (1) Differential effect that (2) brand knowledge has on (3) consumer response to the marketing of that brand

A brand has positive customer based brand equity when customers react more favorably to a product and the way it is marketed when the brand is identified than when it is not (e.g., when it is attributed to a fictitiously named or unnamed version of the product))

Question 21

Customer experience measurements (3):

Answer 21

• Customer Satisfaction
• Net Promoter Score (NPS)
• Customer Effort Score (CES)

Researchers believe that there is an urgent need for the development of new scales for measuring customer experience across entire customer journey due to the fact that current scales are not well developed.

Question 22

Explain the conceptual CBBE model (pyramid)

Answer 22

Constructs:

5. Loyalty
6. Satisfaction
7. Perceived Quality
8. Brand Image
9. Presence

Question 23

Describe the difference between behavioural loyalty and attitudinal loyalty

Answer 23

Behavioral loyalty: wordt gemeten in termen van de frequentie en hoeveelheid van herhaalaankopen en het aandeel van categorievolume dat aan het merk wordt besteed

Attitudinal loyalty: behavorial loyalty is nodig maar niet voldoende voor resonance. Sommige klanten kopen uit noodzaak, bijv. omdat het merk het enige is wat ze kunnen betalen. Een grotere loyaliteit (resonance) vereist echter een sterke persoonlijke hechting en volledig tevreden consumenten

Question 24

Explain what we mean with ‘Brand Judgements’ in the CBBE model

descripe its 4 types of properties:

Answer 24

personal opinions and evaluations with regard to the brand

• Brand quality perceptions : overall evaluation of brand
• Brand credibility : brand as a whole >> perceived expertise and trustworthiness
• Brand consideration : when brand is appropriate and meaningful to consumers (depends on cons. personal relevance)
• Brand superiority : consumers view brand as unique and better than other brands (essential for building intense and active relationships)

Question 25

UNDERSTANDING CUSTOM ER EXPERIENCE THROUG HOUT THE CUSTOMER JOURNEY ( LEMON & VERHOEF , 2016) 4 Types of Touch Points in the Customer Journey

Answer 25

BRAND - OWNED : * Customer interactions during the experience * Designed and managed by the firm and are under firm’s control. * They include all brand owned media (e.g. advertising, websites, loyalty programs) brand - controlled elements of marketing mix. PARTNER - OWNED: * Designed, managed or controlled by firm and one or more of its partners (e.g. marketing agencies, multichannel distribution partners, etc) The experience effects of partner - owned touch points are less clear. CUSTOMER - OWNED: * Customer actions part of overall customer experience; (firm and partners cannot control) * Customer think about own desires in pre-purchase phase.. During purchase,, the customer’s choice of payment method is a customer-owned touch point, SOCIAL/EXTERNAL: * Other customers, influences, independent info sources, environments. * Effects can be comparable or even larger that advertising effects.

Question 26

Differences between: Perceived Quality Perceived Product Value Customer Satisfaction

Answer 26

**Perceived Quality:** * About perceptions, not technical quality (ex. leather chair vs plastic chair) * Experience and credence attributes in particular (evaluation after the purchase * Degree of excellence is relative * Cognitive **Perceived Product Value:** * **​**trade-off between benefits and costs (give and get) * Interaction with the product is necessary * Relative measure **Customer Satisfaction:** * About the customer (self evaluation) * About experience after purchase (interaction is necessary) Surprise * Trade-off cost-benefits (was it worth it) * Transaction specific (that's why it's different from attitude)

Question 27

What are the branding objectives per stage of the CBBE pyramid?

Answer 27

Question 28

What are the four steps required for building a strong brand? branding objective \>\> stage of brand development

Answer 28

1. Zorgen voor identificatie van en associaties met het merk \>\> **who are you?** \>\> brand identity 2. Totaliteit van de merkbetekenis vestigen in de hoofden van klanten door tastbare en niet tastbare merkassociaties te linken \>\> **what are you? \>\>** brand meaning 3. Uitlokken van de juiste klantenreacties op het merk \>\> **what about you?** \>\>brand responses 4. Brand responses omzetten om brand resonance en een intense, actieve loyaliteitsrelatie tussen klanten en het merk te creëren \>\> **what about you and me?** \>\> brand relationships

Question 29

Symbolism model (Giep Franzen)

Answer 29

**Symbolism model:** merk veranderen in een badge waarde voor de gebruiker, bijv. Armani * **Brand response**: merk krijgt een symbolische betekenis (user image) * **Advertising response**: herkennen van ‘merkpersoonlijkheid’ * **Advertising characteristics:** geen informatie, toont lifestyle, gebruik van idolen * **Examples of characteristics:** producten die in sociale situaties worden gebruikt, * zichtbare producten, bijv. kleding, drank, etc.

Question 30

Emotions Model (Giep Franzen)

Answer 30

**Emotions model:** creëren van associaties tussen het merk en bepaalde gevoelens * **Brand response:** brand attitude * **Advertising response**: brand registration \>\> merk wordt belangrijk \>\> activeren van gevoelens (recall is niet nodig) * **Advertising characteristics:** slice of life \>\> mensen moeten het kunnen herkennen (bijv. DE), start met het bedrijf, geen informatie (mere exposure effect) * **Examples of circumstances**: producten met hedonische of sociale functies

Question 31

The power of brands lies in consumers' experience and learning over time. Name 6 Marketing Advantages of strong brands

Answer 31

1. Improved perceptions of product performance * Cons. denken dat sterke merken betere merken zijn 2. More loyalty;; both behavioral and affective * zijn bereid prijspremiums te betalen 3. Less vulnerability to competitive marketing actions and marketing crises 4. Larger margins and higher profitability 5. More inelastic consumer response to price increases and more elastic consumer response to price decreases 6. Greater trade cooperations and support * retailers zijn bereid jouw product op te nemen in hun assortiment --\> overnemen van nieuwe innovaties en extensies

Question 32

Multichannel perspective (customer journey) what is: * Research shopper:

Answer 32

Customer who searches in one channel and purchases in another. * Webrooming (search online, buy in store) * Showrooming (search in store, buy online)

Question 33

When unsatisfied we can determine who's fault it is and how bad you should evaluate the brand: which theory it relevant?

Answer 33

**Attribution theory** ## Footnote **Locus (of control):** wie heeft het veroorzaakt? \>\> interne attributie (je hebt het zelf gedaan) vs. externe attributie (de oorzaak ligt ergens anders) **Stability:** is het de eerste keer (temporary) of komt het steeds terug (permanent) **Controllability**: is het te voorkomen? \>\> intentional (kan voorkomen worden) vs. unintentional (overmacht)

Question 35

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE ( LUO ET AL,, 2013) 3 findings of the paper:

Answer 35

1. **Changes in brand dispersion have a direct effect on stock return and idiosyncratic risk.** * might indicate brand inconsistency (less return) * consistent brands can be subject to more consumer defections to rival offers (more risk), OR , more band lovers \>\> loyal customers (less risk) 2. **This effect is asymmetrical for downside ver sus upside dispersion.** * **​​**Increases in **downside** brand dispersion are more likely to be related to (a) abnormal returns and (b) idiosyncratic risks than those in upside dispersion. 3. **There are indirect effects (interplay) between dispersion and brand rating.** * ​Dispersion shows a lack of consensus and limits the social proof of brand ratings. Thus, increase in dispersion **weakens the conviction of future cash flows**

Question 36

Which of Giep Franzen's Branding models exlude each other?

Answer 36

Modellen die elkaar uitsluiten zijn: * Sales response vs Persuasion, * Likeability vs Awareness, * Emotions vs Symbolism, * Involvement vs Awareness.

Question 37

what is a brand attitude?

Answer 37

* Gevoel en filter voor selectie en interpretatie van informatie. * Hiervoor is interactie met het object niet noodzakelijk. * De attitude brengt een trade-off tussen benefits en kosten met zich mee. * De attitude vormt een scharnier tussen denken (cognitie), voelen (affectie) en doen (conatie). Doen is hierbij een actiegeneigdheid, bijv. ik zou die wel willen hebben. * Attitude bestaat uit een aggregatie van alle satisfactions voor een merk en is een relatieve maatstaf.

Question 38

Persuasion model (Giep Franzen)

Answer 38

Persuasion model: genereren van gedrag op de korte termijn * **Brand response**: brand attitude en behavorial intention (gebaseerd op features en benefits) * **Advertising response**: brand registrationmerk wordt belangrijk, kom met argumenten \>\> conviction * **Advertising characteristics**: feiten, argumenten, branding en getuigenissen * **Examples of circumstances:** voor functionele, probleemoplossende producten

Question 39

Explain what we mean with 'Brand Feelings' in the CBBE model descripe its 4 types of properties:

Answer 39

Responses and reactions with respect to the brand and to the social currency evoked by the brand. Positive \<--\> negative mild \<--\> intense **o Experiential and immediate** \>\> warmth, fun, excitement, indulgence **o Private and enduring** \>\>security, social approval, self-respect

Question 40

Answer 40

* The items are not mutually exclusive nor exhaustive (ee..gg.. attributes and benefits overlap,, also recall and recognition do not add - up)) * Items like “ttypes of brand associations”” cannot be measured. * Brand awareness and brand image are not independent concepts but are related. * Model doesn't give arrows or directions that signal causal relationships (Unknown if ex. Image is total or the average of all associations) * In order to create brand knowledge, brand awareness is required

Question 41

Difference between Perceived Quality and Brand Image

Answer 41

Image gaat over één product, PQ gaat over het vergelijken met andere producten

Question 42

THE IMPACT OF BRAND RATING DISPERSION ON FIRM VALUE (LUO ET AL,, 2013) Explain: According to the findings, managers should pay close attention to dispersion and adopt it as a brand metric considering that **dispersion can limit the rewards a company can earn from brand rating improvements.**

Answer 42

Dispersion’s indirect role is related to its ability to affect investor’s confidence in brand rating. * According to that, a higher dispersion can tell that brand rating improvements might not be credible, reliable or certain; * Dispersion shows a lack of **consensus and limits the social proof of brand ratings**. Thus, increase in dispersion weakens the conviction of future cash flows that is expected from brand improvements.

Question 43

Awareness Model (Giep Franzen)

Answer 43

**Awareness model:** creëren van top of mind awareness \>\> aankoopgedrag * **Brand response**: brand awareness (geen attitude verandering) * **Advertising response**: aandacht, herinnneren van reclame * **Advertising characteristics:** doorbreken van conventies, humor, bijzondere /schokkende dingen, bijv. Axe * **Examples of circumstances:** impuls producten, homogene producten

Question 44

Discussion Branding models by Giep Franzen

Answer 44

* Deze modellen zijn geen bewijs dat reclame precies op deze manier merkt. * Ook biedt dit geen tool om commercials te classificeren. * Deze modellen verzorgen een compleet overzicht van hoe advertising meestal werkt. Het biedt een tool om de doelstellingen van een campagne vast te stellen, en de zichtbare criteria voor het meten van reclame-effectiviteit vast te stellen. Modellen die elkaar uitsluiten zijn: * Sales response vs Persuasion, * Likeability vs Awareness, * Emotions vs Symbolism, * Involvement vs Awareness.