Elements of Brand Equity:
1. Brand Loyalty
is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a change, either in price or in product features. Brand Loyalty Pyramid:
• Committed Buyer
• Likes the Brand - Considers it a Friend
• Satisfied Buyer With Switching Costs
• Habitual Buyer - No Reason to Change
• Switchers / Price Sensitive
• Indifferent – No Brand Loyalty
2. Brand Awareness
Brand Awareness is the ability of a potential buyer to recognize or recall that a brand is a member of a certain product category. How to Achieve Brand Awareness: Be different, memorable Involve a slogan or jingle Symbol exposure Publicity Event sponsorship.
3. Perceived Quality
The customer's perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives. Perceived quality is a perception by customers.
4. Brand Associations
A brand association is anything "linked" in memory to a brand. Thus, Mc Donald's could be linked to a character such as Ronald McDonald, a consumer segment such as kids, a feeling such as having fun, a product characteristic such as service, or a symbol such as the Golden Arches.
Criteria for Brand Name Selection:
• Be easy to learn and remember
• Suggest the product class
• Support a symbol or slogan
• Suggest desired association without being boring or trivial
• Not suggest undesired associations
• Be distinctive
• Be available and protectable legally
Identity vs. Brand extended
- Who you are
- What you think about yourself
- How you present yourself
Organization’s Visual Identity
- A name
- Logo
- Website
- Advertising
Identity should express personality
Apple brand personality: Friendly. Apple “look” is also friendly, from the website to the products design.
Image: Image is people’s opinion or feeling about a product, service, company, or person.
Brand positioning helps: It simplify the message and creates the motivation hook
Image vs. Brand: When many people perceive the image in the same way the brand is born
Identity: the manifestation of the qualities
Image: Other people perceptions
Brand: Collective Agreement on the image
Integrated (marketing) communication
Corporate communications:
Strategy _ Indentity Image
Integration of communications:
Look at communications the way the consumer sees it: as a flow of information from indistinguishable sources.
- Combine and use (marketing) communication instruments consistently.
- Synergetic effect between tools and instruments.
- Seamless, homogeneous communications.
The essence of I(M)C: consistency and synergy
Classic and integrated communications:
Communication professionals’ views on new IMC trends:
- IMC is understood by most, but not often practiced.
- Multi-channel reinforcement: consistency over time and channels.
- On average 9–10 media and channels are used per campaign: 360 degrees communication.
- Still strong belief in mass media.
- More than half think the internet is indispensable in campaigns.
- More than half think mass media will remain important.
- Return on investment is key point of interest.
- The planning horizon of 80% of professionals is one year or less.
CONSUMER BEHAVIOR
Sociocultural influences on consumer behavior:
• Personal Influence
– Opinion Leadership
– Word of Mouth
• Reference Groups
• Family Influence
– Consumer Socialization
– Family Life Cycle
– Family Decision Making
• Social Class
• Culture and Subculture
– African-American Buying Patterns
– Hispanic Buying Patterns
– Asian Buying Patterns
An Introduction to Integrated Marketing Communications
IMC and Branding
Brand Identity is a combination of factors: Name, logo, symbols, design, packaging, product or service performance, and image or associations in the consumer’s mind. IMC plays a major role in the process of developing and sustaining brand identity and equity.
Basic Elements of the Promotional Mix:
1. Advertising
2. Direct Marketing
3. Interactive/Internet Marketing
4. Sales Promotion
5. Publicity/Public Relations
6. Personal Selling
The Marketing Plan:
• A detailed situation analysis
• Specific marketing objectives
• A marketing strategy and program
• A program for implementing the strategy
• A process for monitoring and evaluating performance
The Role of IMC in the Marketing Process
Distribution is a Vital Link in the Chain:
• Selecting
• Managing
• Motivating
Independent Channel Intermediaries:
• Brokers
• Distributors
• Wholesalers
• Retailers
Integrated Marketing Communication: Advertising, Sales Promotion, and Public Relations
Developing Advertising Strategy
Consists of two major elements:
• Creating advertising messages
• Selecting advertising media
Message Execution:
• Choose a tone
• Use memorable, attention-getting words
• Choose correct format elements
– Illustration
– Headline
– Copy
Selecting Advertising Media:
• Reach
Percentage of people exposed to ad
• Frequency
Number of times a person is exposed to ad
• Media Impact
The qualitative value of a message exposure through a given medium
Trade Promotion:
1. Objectives
• Persuade resellers to carry a brand
• Give a brand shelf space
• Promote brand in advertising
• Push brand to customers
2. Tools
• Discounts
• Allowances
• Free Goods
• Push Money
• Specialty Advertising Items
Public Relations:
Public relations involves building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
Public Relations Functions:
• Press relations or press agency
• Product publicity
• Public affairs
• Lobbying
• Investor relations
• Development
Public Relations Tools:
• News
• Speeches
• Special events
• Buzz marketing
• Mobile marketing
• Written materials
• Audiovisual materials
• Corporate identity materials
• Public service activities
• Company Web site
