1
Q
A Brand is… (AMA Definition)
A
A brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.”
KEYWORDS: identification, differentiation.
2
Q
Branding is not just _ its _
A
Not just about advertising, but about the whole experience
3
Q
Brand vs Product
A
Brands exist in consumers’ minds. Brands simplify choice, occupy mental/emotional territory. Brands are unique and timeless if successful, and they stand for something. A product is more concrete, they EXPAND choice, occupy functional territory, can be copied by competitors, can become outdated.
4
Q
What is a “product” (different types)
A
Entertainment, People/organization, place, ideas (don’t drink and drive?), virtual goods/services, retail outlets, services, physical goods.
5
Q
Key Benefit of Brands for Firms
A
Instills Pricing Advantage: reduces customers’ price sensitivity (Beneficial from a margin perspective too).
Marketing Customer-hold Advantages: lowers customer acquisition cost, improves customer retention, increases customer loyalty.
Stock Market Advantages: brands are major intangible assets.
6
Q
Key Benefits of Brands for Customers - Simplifying Decision Making
A
Identifies source of maker of product (me voy a comprar la chaqueta SAM porque siento que se la he visto a gente),
Aid in repeat purchases which mark predictability (Prof’s. fam sticks to the Toyota Camry),
Provides info on prod. attributes/benefits (if you knew nothing about brands and saw a Coke zero, they’d know instantly that it has zero sugar),
Lowers search costs like time researching.
7
Q
Key Benefits of Brands for Customers - Reduce Risk Perceptions
A
consumers encountering risk is not new. Types of risk: performance, physical (is it safe - for kids?, Identity, Financial (can i afford it), Time, Social (does it hurt my social standing).
8
Q
Key Benefits of Brands for Customers - Satisfy High Level Needs
A
working out/physical movement basic level (jumping jacks in room) versus the community, self actualization, part of a club that Peloton offers
9
Q
The Differential Effect
A
The difference between consumer’s response from a can of tomato soup vs Campell’s tomato soup
10
Q
A
11
Q
Brand Equity
A
Brand equity is the “added shareholder value” uniquely attributed to the brand
12
Q
Brand Knowledge
A
brand awareness + brand image
13
Q
Brand Awareness
A
14
Q
Brand Recall - Under brand awareness
A
Ability to retrieve brand from memory when given a category.
ex: when you think of salt, what brands come to mind?
15
Q
Brand Recognition - Under brand awareness
A
Consumer’s ability to confirm prior exposure to the brand when given
the brand as a cue
ex: out of this list which brands do you recognize?
16
Q
Advantages of having strong brand awareness
A
1- Learning Advantages
2- Consideration Advantages (when wanting to buy pizza there may be 70 places but consider 5)
3- Choice Advantages: brands with high awareness are more likely to get the sale, especially in low involvement categories (toilet paper).
17
Q
Brand Awareness Increases Choice
A
a. offsets a lack of purchase motivation.
when consumers percieve all brand to be similar, they’re more likely to default to one they know.
b. offsets an Ill-equipped consumer’s ability to judge their purchase. when something can be too technical or lack of experience in the category.
18
Q
Creating awareness: repetition and reinforcement. What does repetition do?
A
Repetition increases recognizability: creates stronger links of product aspects (in memory).
19
Q
Brand Image is:
A
what the brand is associate with in the mind of the consumer. creating unique and positive associations with the brand.
(me recordó a como en TSG hay muchas marcas y cada una tiene sus defining words).
20
Q
Brand associations are both attributes or benefits. what would be an attribute and benefit of startbucks coffee?
A
benefit of Starbucks: has caffeine
attributes: helps me stay energized throughout the day
21
Q
Brand Personality
A
brand personality is the set of human characteristics attributed to a brand. Emerges gradually from all the exposure and interactions that consumers have with the brand.
22
Q
how brand personality is formed
A
- Tone/manner/style of consumer facing communications/experiences. (Ex: Wendy has a snarky personality, Southwest airlines customer interactions with jokes)
- Personification elements of the identity and image associations (tesla-with elon)
- The personality traits of the typical user
23
Q
When is brand image (consumers’ perceptions and associations linked to the brand) most important?
A
- Similar product, different users (coffee, lite beer)
- Brands when consumers use the brand as a signal to others (luxury brands,
24
Q
Why its worth it to invest in growing brand equity.
Textbook has 11, but we’ll focus on 5 of them, understand all of these.
A
- improved perceptions of product performance
- less vulnerability ot marketing crisises
- larger margins
- greater trade cooperation and support
- additional brand extension opportunities
25
Improved perceptions of product performance (reasons why its worth it to invest in growing brand equity)
The (intangible) brand can affect perceptions of (tangible) performance. Psychology affects lived experience.
Experiment with Nike branded or unbranded putter, those with branded putter made more putts, since they were more confident...
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Less vulnerability to crises (reasons why its worth it to invest in growing brand equity)
Strong brands can weather a crises and bounce back.
Ex: Tylenol and Chipotle (E Coli outbreak). Both did some things right, but mostly their survival was due to a strong brand equity.
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Larger margins (reasons why its worth it to invest in growing brand equity)
Are willing to pay more as they think that those branded have a higher value.
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Greater trade cooperation and support (reasons why its worth it to invest in growing brand equity)
Easy to get the retailer to add a new SKU, retailers willing to have lower margins, more favorable shelf space, lower/no fee to be in the retailer.
Ex: Dicks sporting goods are willing to make only $50 for a $100 dollar NIKE shoe, since there is more frequent sales, in comparison to an Adidas shoes that doesn't have that frequent sales so they'd probably make 60-70 for an adidas (adidas takes less home).
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Possible brand extension opportunities (reasons why its worth it to invest in growing brand equity)
Well-regarded brands can stretch more. They can easily and more efficiently extend.
BTW: line extensions are more subtle (flavors, sizes...), not a new category like Dove soap to deodorant.
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main topic ideas (awareness, image, positioning)
awareness: repetition
image: unique and positive associations
positioning: who is it for, why should consumers purchase it...
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How to position in 3 steps
1. target audience
2. identify and communicate competitive frame
3.** establish your brands (a) points of difference (b) points of parity
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What is market segmentation? and Why do it?
(Step 1. to how to position)
Segmentation: Grouping people in basis of different categories. Why segment: We know that different people have different needs, knowledge structures (previous knowledge), perceptions, and preferences.
Choosing your segment affects what customers expect from your brand. (Gatorade to athletes, parents, party animals).
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Defining competitive set
(Step 2. to how to position)
A competitive analysis helps marketers choose markets for their own products or services
Factors to consider:
￭ Resources
￭ Capabilities
￭ Likely intentions of various other firms.
there are direct competitors and indirect competitors (Airbnb is an indirect competitor to Marriot).
In the case of on the go coffee, mcdonalds and dunkin are competitors to starbucks.
in the case of selling the coffee grounds and pods, nescafé is a competitor of starbucks.
in the case of a third place to be, "central perk" would be a competitor of starbucks.
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PODS AND POPS. Points of Difference and Points of Parity.
(Step 3. to how to position)
Points of Difference: a true POD needs to be desirable to consumer, deliverable by company and differentiable relative to consumers.
(Ex: Pepsi crystal did not check off all those things as it wasn't desirable for consumer).
You enhance PODS with RTBS (reasons to believe). Like functional design concerns, key ingredients, key endorsement.
Points of Parity: what do we need to do to be competitive in this category.In many case the most important over PODs. Not being strong in a Point of Parity makes people assume you don't have it (Ex: Clinton: economy, Bush: family values "he seeded the economy one to Clinton")
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brand mantras and positioning statements why create it?
articulate your positioning internally and externally.
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classic brand positioning statement
for [target market] [brand] is the [personality adjective] [frame of reference] that [Brand Promise]
Because [reason why/RTBs]
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attributes of good positioning statement
today + tomorrow, consumer focused, head and heart.
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Brand Mantras what and what makes them good
Short, three-to-five-word phrase.
Captures the essence or spirit of the brand positioning brand function, descriptive modifier, emotional modifier.
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Brand resonance
extent to which customer feels in sync with brand
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Stages of Brand Development
| questions one makes
From "who are you'?" to "what about you and me?"
identity, meaning, response, relationships
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Branding objectives at each stage
Deep and broad brand awareness,
points of quality and difference,
positive accessible reactions,
intense active loyalty
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Brand Salience (bottom of pyramid)
the extent to which something is top of mind
ex: "quick tell me a battery brand" - Duracell
43
Breadth and Depth of awareness (Within Brand salience topic)
Depth: Ease with which brand elements can be recalled. "I've heard of Toyota, know its logo."
A brand needs to be familiar (depth)
Breadth: Range of purchase & usage situations in which the brand element comes to mind "I think about Toyota when buying a car, or renting"
A brand also needs to be familiar in the right time and place (breadth).
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Brand Meaning
Brand Performance (attributes, and benefits – stuff that is more cognitive-based) Ex: primary ingredients, service effectiveness, style and design...
|
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Brand Imagery
Ways of measuring imagery:
User Imagery: demographic factors.
Purchase usage – associations that tell consumers under what conditions or situations they should buy and use the brand. (Ex: Little Caesars = take out, Domino's = delivery, Pizza Hut = Dine In)
Personality and values: Brands may take on personality traits or human values through; marketing communications, consumer experiences, brand characters/spokespersons. The Aaker model
Brand history/heritage and user experiences – lean to history for imagery, taking on associations with their past.
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brand imagery example measures
quality, credibility, consuderation, superiority
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Brand Feelings
Think about the Valence Arousal Model of Emotions, Valence: the positive vs negative feel.
Arousal: physiological response of being energized.
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Brand resonance top level of pyramid
characterized by depth and intensity.
4 categories of brand resonance/ 4 ways to measure:
1. behavioral loyalty: repeat purchases, share of category volume attributed to the brand. measure with actual sales. CLV is relevant here.
2. Attitudinal loyalty: from a scaled/surveyed perspective. Resonance requires a strong personal attachment.
3. Sense of Community: survey questions, engagement online.
4. active engagement (tattooed people etc)
49
How Brands Grow author
Byron Sharp
50
Ideas about How Brands Grow, book by Sharp
Growth comes from acquiring light buyers:
The most critical driver of market share growth is market penetration (acquiring more customers), not increasing loyalty (ex: making ppl buy q tips for other stuff).
Focus on physical and mental availability:
Brands must be effortlessly easy to buy, requiring maximum Mental Availability (basically his word for salience) and Physical Availability (being present and accessible in as many purchasing situations as possible, 24/7).
51
Sharp's Scientific Laws (How Brands Grow book)
Double jeopardy law: smaller brands have lower penetration and low loyalty. Loyalty is a result of size.
Duplication of Purchase Law: all competing brands share customers proportionally to their market share.
Law of Buyer Moderation: we just try to grow. Heavy buyers become lighter over time and vice versa (regression to the mean).
52
The anti-differentiation stance (How brands grow book).
Sharp argues that most brands in mature categories are perceived as "lookalikes." Consumers buy out of habit and convenience, not deep conviction about functional differences.
Differentiation (what you say): trying to convince ppl your product is functionally superior (e.g out coffee has more antioxidants) < < Distinctiveness (how you look): using sensory cues to be instantly recognizable, building distinctive brand assets (DBAs).
very true for low involvement categories.
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Criticism #1: 1: The Role of Differentiation. (How Brands Grow book)
Brands should aim to be both distinct and differentiated
Differentiation matters, especially when launching new, innovative products or in certain categories (B2b, luxury) Ex: Impossible meats needed to differentiate for their company. Consultants spend lots of money to argue that they're the best, because someone doesn't just hire a consultant because of high awareness.
54
Criticism #2 Generalizability to All Categories (How Brands Grow book).
Sharp's findings are primarily based on Fast-Moving Consumer Goods (FMCG/CPG) in mature markets.
- start ups and challenger brands like Poppi do need differentiation.
- b2b or high involvement purchases: ppl wont buy a expensive ass car just bc its top of mind.
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Criticism #3: Stationary market assumption. (How Brands Grow book)
It can't explain how small brands get bigger. it only is like if the same players stay there with their market share that doesn't change.
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What is a brand element?
Trademarkable devices that serve to identify and differentiate the brand including: characters, slogans, logos, packaging
57
Brand Names (brand elements)
Dasani (isn't anything), Lyft (play on the word misspelled), american eagle outfitters ()?, Papá Johns (a person ish). The LEAST adaptable brand element.
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Logos and Symbols (brand elements)
can be Written out versions of brand name like Fedex, or cocacola. can be images or pictographic
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URLs (brand elements)
1.800flowers.
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Characters (brand elements)
Chester Cheeto
Flo from Progressive
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Spokespeople (brand elements)
Real human beings
Ellen at Covergirl
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Slogans (brand elements)
Research with experiments and eye tracking and show how different elements change the response.
"A diamond is forever" "Finger Lickin' Good"
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Packaging (brand elements)
Pringles: differentiatior from the rest
Amazon: functional
Cambells/Heinz: Classic
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Jingles / Audio Stings (brand elements)
Intel sound, twitter notification, full on jingle.
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Six Criteria for choosing brand elements
Offense (builds brand equity): Memorability, meaningfulness, likeability, Defense: transferability, adaptability, protectability
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Memorability (criteria for choosing brand elements)
Goal: easily recalled and recognized.
Unusualness helps, but sometimes backfires.
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Meaningfulness (criteria for choosing brand elements)
Two Important Criteria
1. Telegraphing the general product function (ex: Mr. Clean) salience perspective
2. Telegraphing the brand's attitudes/benefits: Does it suggest something about the kind of product, its key PODs, or its users. (Tropicana logo says its fresh).
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Likeability (criteria for choosing brand elements)
Do consumers find it? Likable verbally (to say) and visually (looks pretty, cool...), inherently fun, aesthetically appealing.
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Transferability (criteria for choosing brand elements)
To what extent does this brand element transfer first to other line or category extensions=
Amazon: Amazon river: big scale. they started with books, if they had the name booksrus it wouldn't have been possible.
Can it travel across geographies?
Make sure it isn't offensive or gross in another country
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Transferability
transferability across geographies and line categories, but Adaptability is__
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Adaptability
Because of a need to retain contemporary, most brand elements need to be updated to make them appear more modern and relevant. logos etc.
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Protectability
should be able to be legally protected, and register them with appropriate legal bodies. vigorously defend trademarks from unauthorized infringement.
(ex: Uncrustables is suing Trader Joes because they have a product thats "too" similar).
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Brand Names
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Why are brand names (arguably) the most important brand element?
Your name is most closely tied to your identity. Your name stays through time (mostly). Captures the central theme or key associations of a product
in a compact, economical fashion.
Most difficult for marketers to change; (a change can lead to a 5-20% drop in sales). its tough to get right "good ones are taken".
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Who's responsible for naming?
Someone within the company (likely in small brands), agency (like each cruise ship carnival cruises has), crowdsourcing.
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The Optimal Brand Naming Process
1. Create a naming brief (objectives, criteria)
- Make sure every decision-maker reviews and approves the brief
2. Generate names
- try coming up with bad ideas purposefully, get distracted, try naming something else entirely to get juices flowing
3. Shortlisting
4. Pre-screening including culture check
- invest in a real linguistic and cultural disaster check
5. Present names in unbiased format
- Show each name in same context to avoid biasing
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Rob Myerson criteria to consider Naming
-sounds good looks good (likeability)
- memorable (memorability)
- linguistically viable (transferable)
- legally available (protectability)
- meaningful (meaningful)
- adaptable (adaptability)
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A simpler strat. Star with two dimensions (naming)
Naming Approach: how a brand name connects to qualities or ideas related to the underlying brand
Naming Construct:
How a brand name is structured
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Types of brand names. Naming APPROACH. suggesting what they sell.
Descriptive: the container store
Suggestive brand name: Best Buy
Abstract brand name: Apple, Casa Panda
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Naming CONSTRUCT. the linguistic structures.
Real WorD Names: actual words, may describe origin (ex: amazon, bounty).
Compound: combines two real words (fitbit, seat geek)
Coined: froot loops (misspelled wordsI, dasani (made up words)
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advantages to naming approaches
The more read word and descriptive are more literal and intellectual property is harder.
as you do more coined names or abstract the intellectual property.
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phonetic symbolism
sounds have a meaning.
even vowel and consonant frequency + location of them impact.
Front Vowels: i/e --> more sophisticated and sincere
Back Vowels: u/o --> more rugged.
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wrong spelled names
substitution: lyft, starz
shortening: mvmmt (disenvoweling), tru by hilton
lengthening: swapping one letter for other letters like clarifai, phat budda.
research shows its not a bad idea. benefits: memorable and protectable. and conveys an exciting brand personality
also decreases sincerity tho.
but theres a study that more people would choose correct spelling, some others are pro-misspelled.
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apostrophes
Many brand names use human names
* Many brand names Sometimes these names are
possessive (e.g., Trader Joe’s, Ruth’s Chris
Steakhouse)
* Sometimes they are non-possessive (e.g., Warby
Parker, Lucky George)
* Sometimes this changes!
Across experimental studies they find that “consumers infer a brand
as being under control of an owner implied in a possessive brand
name” (e.g., Mr. Smith Cookies vs. Mr. Smith’s Cookies)
⚬ Possessive names lead to enhanced brand purchase intentions and
money spent on a brand’s product
⚬ Only true for unfamiliar (but not familiar) brands
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processing fluency
the idea that when you see some stimuli some ideas are easier to process than others. in slogans, when processing fluency is high: are more liked.
when they are less fluent: they are more likely to be stored in memory.
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slogans that are preferred
remember slogans that are:
include the brand name
Use words that are:
* Infrequently used
* Less distinct
* Concrete
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omit vs include brand name for slogan choice
rmember: every kiss begins with kay
like: a diamond is forever
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SHORTER VS LONGER for slogan choice
HP's "invent" = liked
Geico's "15 mins could save you 15% or more on car insurance" = remembered
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Frequently vs Infrequently Used Words for slogan choice
budweiser's "true" = liked, Listerine's "halitosis makes you unpopular = remembered
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DISTINCT VS LESS DISTINCT WORDS for slogan choice
Apple's "think different" = liked
Nike's "just do it" = remembered.
do it are words that can be easily changed to other words by just changing some words. think different can't easily be moved
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ABSTRACT VS CONCRETE WORDS for slogan choice
Nissan's "innovation that excites" = like, vs Chevrolet's "Like a rock" Remember.
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UPDATING SLOGANS for slogan choice
| what to remember/do when changing slogan
Retain needed or desired equities still residing in the slogan while providing whatever new twists of meaning are necessary to contribute to equity in other ways.
Secret deodorant example.
Started strong enough for a man but made for a woman. then strong enough for a woman. then all strength no sweat.
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Logos (benefits)
Easily recognized.
Versatile: and non verbal
Can fit in more places than the potentially long name.
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We make assumptions about a brand's identity. what did the professor think Martin's was.
Spooky store like halloween.
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Logos what is its role, what do they indicate, what can they convey.
Play a critical role in building brand equity and brand awareness. Indicate origin, ownership, or association. Can convey brand benefits of personality.
The Baskin Robins logo has a 31 indicating 31 flavors. Even in the longest month you can have a different ice cream every single day.
The Allstate logo indicates they got your back + helps with brand awareness since the name is in the logo.
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two major types of logos
Wordmarks (Coca-Cola), Pictorial (Nike swoosh).
Pictorial are better for more established brand, many start with a word base or combination, then transition to pictorial. Bc if you'd never heard about Target and just see a bulleye you'd have no idea what it is.
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Abstract Mark
like chase logo. there is no meaning with them outside of what the brand created. The positive: they are unique to your business. You don't have to worry about if another brand has a similar logo. Downside: you have to create organic meaning.
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Mascot Logo
Your logo is an illustrated character that represents your company. Good for family oriented brands.
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Combination Mark
Combines picture and brand name. Longer term, you may be able to drop the brand name. It easier to trademark since you already have the intellectual property of the name. Can be a negative: just pictures are easier to fit in stuff.
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Emblem logos
Badges, seals, crests.
Has a more traditional appearance: popular in universities. Many times are detailed and intricate which could be a challenge.
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The science of logos
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Symmetry (The science of logos)
Consumers infer brands with asymmetrical (vs.
symmetrical) logos have a more exciting brand
personality
* Psychological arousal: feeling state of
activation (e.g., feeling excited/energetic)
* Symmetrical designs produce less
arousal
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Typeface (The science of logos)
Incomplete typeface on logo = less
trustworthy, but more innovative (like IBM)
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Text vs image logos over time (The science of logos)
Its best to start with written out name, then the images in logos have positive benefits.
105
Packaging definition
The act of designing and producing container or wrappers.
106
What does packaging must do
1. Identify brand
2. Convey descriptive and persuasive information
3. Facilitate product transportation and protection
4. Assist in at-home storage
5. Aid product consumption (ex: how to cook it in a microwave vs airfryer)
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Packaging Brand benefits
Can help charge a higher price for the usability perspective. New packages can expand a market and capture new segments. HIGHER MARGIN.
CAPTURE NEW SEGMENTS (ex: chips ahoy having a smaller packaging of 100 cals gets ppl who are dieting in your market too)
Packaging changes can have an IMMEDIATE impact on customer shopping behavior and sales
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Packaging incorporating brand thematic content examples
Chipotle adding brand messaging in chip bags, napkins, etc. Coca-Cola's name campaign, Snickers adjectives in the packaging. Cadbury dividing up the chocolate bar in roles (the one who drives, the copilot, the napper).
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Consumers have a color vocabulary for certain products
we buy the red milk vs the blue milk.
the pink gum vs the green gum.
Some brands own colors: Other in category should stay away.
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Changing packaging, when could it be good.
Its expensive. Midol in the 00s shifted from a blue packaging to a drastic change (yellow and pink) big M instead of full name.
Is a good idea to change packaging when charging more $$.
Good idea when you sell through new or shifting distribution channels.
When a significant product line expansion would benefit from a common look (Dove).
To accompany a new product innovation to signal change.
When old packaging looks outdated.
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PRODUCT
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New Products Fuel Growth
Business are tasked to grow revenue.
Introducing new products is critical for long term health of business.
Creating new products are two of the four main growth strategies (market development, diversification, mkt penetration, product development)
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The product isn't only the offering it is also...
pre and post service/purchase.
Apps to help guide the user (Dyson app, car app).
Tester for car PRE purchase
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Jobs to Be Done Framework
We "hire" products to help us accomplish a job
We "fire" and replace products with al alternative if they fail to do so.
**Jobs reveal why consumers decide to buy a product**
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Identifying jobs to be done (questions to make)
Do you have a job that needs to be done?
Where do you see non-consumption?
What work-arounds have people invented?
What tasks do people want to avoid?
What surprising uses have customers invented for existing products?|
116
Do you have a job that needs to be done? Identifying jobs to be done
Subscription service for childcare. They do the background checks.
Sometimes intuition can be enough
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Where do you see non-consumption?
Identifying jobs to be done
Look to current non-consumers. Those not "hiring" any products to find a whitespace in the market.
Southern New Hampshire University decided to offer online programs for working professionals. Instead of college students
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What work-arounds have people invented?Identifying jobs to be done
Consumers will cobble-together their own work-arounds to fill their current unmet needs. The Quicken quickbooks software for individuals to do their own taxes but small businesses started using it.
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What jobs do people want to avoid?
Identifying jobs to be done
Negative jobs are jobs that consumers would like to avoid doing themselves in daily life. Innovation that help them evade negative jobs are often successful.
120
Surprising uses have customers invented for exisiting products?
Identifying jobs to be done
Nyquil into ZZQuil
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PRICING
122
Reference Points in Pricing is Key
Anchoring and Adjusting.
Anchoring them with the original price plus the sale price. People usually don't have a good idea for reasonable prices (especially with intangible products)
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Pricing Strategy Overview
A $20 dollar steak might be a chain, not the nicest ambiance.
A $20 dollar burger was once great and you expected a better quality, nicer place.
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Psychology of pricing.
Paying upfront increases enjoyment of purchase/experience. Like pre-paying that vacation.
Price can seem less expensive if broken down, uses charm pricing (49.99.vs 50) --> leads to perceiving it as lower quality. It could backfire if you want people to upgrade. But also the 4 seems like less than 5 so they belive its a better price.
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External Frame of Reference
A posted "regular price"
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Internal Frame of reference (in consumers brain)
"Fair price" (what th eproduct should cost)
Typical price
Last price paid
upper-lower bound price (most/least consumer would pay)
Competitive Prices
Expected future prices (can depend on economic situation)
Usual discounted pricing (Saks)
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Two approaches to discounting
Every Day Low Pricing (cuts out the use of price promotions) avoids the up-down sawtooth pattern
--
Price Segmentation: Sets and adjusts prices for appropriate market segments (e.g. Orbitz having higher prices for Mac users vs PC users)
128
Types of
Direct Marketing Channels
Selling through personal contacts from
the company to prospective customers.---Mail, phone, electronic means, company-
owned stores or in-person visits
Firm to Consumer
Can showcase the entire line and create a "pure experience"
Ex: the goose brewer having their own place instead of just supplying to other bars/restaurants
Potential conflict: with existing retail channels
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Indirect channels, the continued power of retail
Retailers still exert significant power over brands.
Shopper marketing (last 5 seconds) 70% of decisions are made here.
Includes e-commerce (think amazon reviews and recommendations)
Trade spend averages just under 50% of all marketing budgets (keeping strong relationshipwith retailer)|
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Indirect channels, channel strategy affects image
High end brands can lose their exclusivity if in the wrong retailers (outlet versions of your own stores, or places like TJMaxx)
American Eagle had wholesellers in south america for the extra content.
Though less detrimental, value brands can lose their value perception if found in higher end retailers
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Indirect channels retail segmentation
same as there is direct channel segmentation (for your own customers), there is indirect channel segmentation for the retailers you can have.
There is prioritization is necessary. Walmart is likely up there, since they carry lots of skus. Then 7-Eleven. Extra stuff would go to Menards.
This means:
- Different product mixes
- special delivery systems
- Customized Promotions
- Exclusive Products
- Co-op advertising dollars
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Indirect Channels
Selling through third party
Agents, broker representatives,
wholesalers or distributors, or retailers
or dealers
Firm to Intermediaries to Consumer
Firm loses some control of the image, but
gets access to more potential buyers.
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PROMOTION
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Earned Media types
Reviews
Media Coverage
Guest Posts
Mentions
Social shares
Influencers posting for free
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Owned Media Types
(Your) Website
Blog
Profiles
Emails
Social Pages
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Paid Media Types
Pay Per Click
Display Ads
Remarketing
Retargeting
Paid Social
Native Ads
Influencers (paid)
137
IntegratedMarketingCampaign Toolkit might include:
Advertising (OOH, radio/audio, tv/vid, print, digital display), Promo/shopper Mktn, Direct marketing, Buzz,. Content marketing
138
Promotion and Shopper Marketing
Promotions: short-term initiatives to encourage trial or usage of product of service
Designed to change behavior of the behavior of the:
* Consumers: so they buy for the 1st time.
- Price promos
- PoP displays
- Premiums, get a free item with big purchase
- Contests sweepstakes
* Trade Partner: so channel members/retailers facilitate sale of product. Slotting allowances, end-cap...
139
PR types (buzz marketing)
press releases and press conferences
* media interviews
* goodwill events that provide a “warm and fuzzy” story
* content for news coverage
* fund-raising and membership drives
* coverage stemming from branded goodwill activities
* investor relations
140
Viral marketing (buzz marketing).
Word of Mouth or Word of Mouse.
STEPPS model.
- social currency, triggers, emotions, public, practical value, stores.
paid influencer marketing is not buzz marketing, nor earned marketing.
141
unpaid influencer marketing (Buzz marketing)
many times those unpaid influencers want to be paid later.
142
Content Marketing
143
Product Placement - content marketing
feels natural-ish...
144
Branded Events and Experiences - content marketing
events 100% owned by brand.
Chickfil-a did an auburn/georgia popup restaurant, half in georgia and alabama...
145
Sponsorships - content marketing
when brand sponsors event for exposure. In olympics Coca Cola... not just the sponsorship but now coke can do ads related to olympics and earned media.
Good sponsorships get 5-10x value with earned media.
146
Secondary Brand Association
147
what is a Secondary Brand Association
they occur when the brand is linked to other entities that have their own knowledge structures in the minds of consumers.
--
people fill in gaps//make assumptions. people may assume or infer that some of the associations should complement and add to the desired brand positioning
--
those associations should complement and add to the desires brand positioning
148
why are secondary brand associations helpful
For brands consumers know little about. "idk much about this brand, imma make a decision about the secondary brand associations". Ex: Sobti: swiss made watches. you dont know about sobti but you know that switzerland watches are best. therefore this sobti watch must be good..
__
or Gilette vs Movember helpful association.
149
1. company (8 secondary brand association)
parent brand (company name P+G)
individual brand
if you are an individual brand the secondary brand association you want to leverage is the parent brand since it can be a source of brand equity.
1. create a new brand
2. adopt or modify and existing brand
3. combine an existing new brand
150
2. geography (8 secondary brand association)
a country of geographic location from which a product originate may become linked to the brand, may generate secondary associations.
--
Consumers choose brands originating in diff. countries based on:
* Their beliefs about the quality of certain types of products
from certain countries
* The image that these brands or products communicate
--
sometimes also states, regions, cities.
georgia peaches.
---
how its done: in the name, in ads, thru endoresements
151
3. where product is bought (8 secondary brand association)
the brand of the retailer rubs off onto the brand being sold.
this shows why getting distribution in wellknown or high end retailers.
ex: "sold in whole foods so it must be legit"
because of
-product assortment
-store atmosphere
-pricing
--
tates cookies we are sold
152
4. co branding (8 secondary brand association)
when two or more existing brands are combined into a joint product or are marketed together in some fashion.
ex. febreeze tide, oreo blizzard, apple/nike watch
153
4. co branding (8 secondary brand association) benefits and risks
benefit:
increase access points
broaden meaning
borrow needed expertise
reduce cost of production intro
risk:
loss of control
risk of brand equity dilution
negative feedback effects
organizatrional distraction
154
5. licensing (8 secondary brand association)
creates contractural arrangements whereby
firms can use names, logos, and characters
of other brands to market their own brands
for some fixed fee.
ex: met life snoopy, colgate spongebob.
155
5. licensing (8 secondary brand association) benfits and risks
BENEFITS:
increase brand exposure
enhance their image
generate extra revenue and profits
protect your trademark (contract)
RISKS:
Product may not live up to the reputation established by the brand
Inappropriate licensing can delete brand meaning
The brand promise must be upheld on all products
156
7. event sponsorship (8 secondary brand association)
sponsoring well liked events like new orleans jazz fest, or NFL thing, a walk for breast cancer...
157
8. third party seal of approval
external organization saying something about your brand. marketers can create secondary associations in a number of different ways by linking the brand to various third party sources. ex: rotten tomatoes, American dental association accepted.
Building Great Brands
flashcards
Decks in class (2)
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