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Chapter 3 Brand Resonance and the Brand Value Chain.docx

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Department
Marketing
Course
MKT 510
Professor
Ida Berger
Semester
Fall

Description
MKT510 Innovations In Marketing CHAPTER 3 Brand Resonance and the Brand Value Chain  Brand resonance model: describes how to create intense, active loyalty relationship with customers o Considers how brand positioning affects what customers think, feel, and do and degree to which they resonate or connect with a brand  Brand value chain model: trace value chain process for brands to better understand financial impact of marketing expenditures and investments BUILDING A STRONG BRAND: THE FOUR STEPS OF BRAND BUILDING  Steps of brand resonance model: STEP 1 Ensure identification of brand with customers and association of brand in customers’ minds with specific product class, product benefit, or customer need STEP 2 Firmly establish totality of brand meaning in minds of customers by strategically linking tangible and intangible brand associations STEP 3 Elicit proper customer responses to brand STEP 4 Convert brand response to create brand resonance and intense, active loyalty relationship between customers and brand  Brand laddering: from identity to meaning to responses to relationships  Six brand building blocks with customers that can assemble in pyramid, with significant brand equity reaching the top o Left side of pyramid “rational route” to brand building; right side of pyramid “emotional route” Brand Salience  Brand salience: measures various aspects of awareness of brand and how easily and often brand is evoked under various situations or circumstances  Building brand awareness helps customers understand product or service category in which brand competes and what products or services sold under brand name o Depth: measures how likely brand element comes to mind o Breadth: measures range of purchase and usage situations in which brand element comes to mind and depends on organization of brand and product knowledge in memory  Product category structure: how product categories are organized in memory o Assume products are grouped into varying levels of specificity and organized in hierarchical fashion  Harder to change existing brand attitudes than to remind people of existing attitudes towards brand Brand Performance  Brand performance: describes how will the product or service meets customers’ more functional needs  Five important types of attributes and benefits underlying brand performance 1. Primary ingredients and supplementary features  Primary ingredients essential to make for product to work; supplementary features allow for customization and versatile, personalized usage 2. Product reliability, durability, and serviceability  Reliability: measures consistency of performance over time and from purchase to purchase  Durability: expected economic life of the product  Serviceability: ease of repairing product if needed 3. Service effectiveness, efficiency, and empathy  Service effectiveness: measure how well brand satisfies customers’ service requirements  Service efficiency: describes speed and responsiveness of service  Service empathy: extent to which service providers are seen as trusting, caring, and having customer’s interest in mind 4. Style and design  Design has functional aspect in terms of how product works that affects performance associations 5. Price  Creates associations about how expensive the brand is, and whether it is frequently substantially discounted MKT510 Innovations In Marketing Brand Imagery  Brand imagery: depends on extrinsic properties of product or service, including ways in which the brand attempts to meet customers’ psychological or social needs o Intangible aspects of brand from own experience or indirectly through advertising or some other source  Various intangibles linked to brand, but four main ones: 1. User imagery – imagery result in customers’ mental image of actual user or more aspirational, idealized users  Base associations of idealized brand users on descriptive demographic factors or more abstract psychographic factors 2. Purchase and usage imagery – under what conditions or situations they can or should buy and use the brad 3. Brand personality and values – takes on personality traits or human values  Give dimensions of brand personality: sincerity, excitement, competence, sophistication, and ruggedness  Consumers often choose and use brand that have brand personalities consistent with their own self- concept, or based on customers’ desire rather than actual image 4. Brand history, heritage, and experience – associations to past and certain noteworthy events in brand history  Brand response: what customers think or feel about the brand  Brand associations making up brand image and meaning according to strength, favorability, and uniqueness Brand Judgements  Brand judgement: customers’ personal opinions about evaluations of brand, which consumers form by putting together all different brand performance and imagery associations  Make judgements with respect to brand 1. Brand quality – overall evaluation of brand and often form basis for brand choice 2. Brand credibility – sees the brand as credible in terms of three dimensions  Brand expertise (competent, innovative, and a market leader)  Brand trustworthiness (dependable and keeping customer interests in mind)  Brand likability (fun, interesting and worth spending time with) 3. Brand consideration – which strong and favourable brand associations can be created as part of brand image 4. Brand superiority – measures which customers view brand as unique and better than others Brand Feelings  Brand feeling: customers’ emotional responses and reactions to the brand (can be mild or intense and can be positive or negative)  Transformational advertising: designed to change consumers’ perceptions of actual usage experience with the product  Six important types of brand-building feelings (first three feelings are experiential and immediate, increasing in level of intensity; last three
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