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session 6_Experiential Branding.pptx - DESIGNING MARKETING...

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DESIGNINGMARKETINGPROGRAMS TOBUILD BRAND-EQUITY
New Perspectives on MarketingAs firms are dealing with enormous shifts in their external marketingenvironments:The marketing strategies and tactics have changed dramatically.
New Approaches Embraced by MarketersRapid technological developmentsGreater customer empowermentFragmentation of traditional mediaGrowth of interactive and mobile marketing optionsChannel transformationIncreased competition and industry convergenceGlobalization and growth of developing marketsHeightened environmental, community, and social concernsSevere economic recession
The New Capabilities of the New Economy
Integrating MarketingPersonalizing MarketingReconciling the DifferentMarketing ApproachesThe rapid expansion of the Internet and continued fragmentation of massmedia have brought the need for personalized marketing into sharp focus.Modern economy celebrates the power of the individual consumer.To adapt to the increased consumer desire for personalization, marketershave embraced concepts such asexperiential marketing and relationshipmarketing.The different approaches of personalizing marketing help reinforce anumber of important marketing concepts and techniques.According to the customer-based brand equity (CBBE) model these differentapproaches emphasize different aspects of brand equity.
Personalizing MarketingExperientialMarketingRelationshipMarketing
Pine and Gilmore: Brand Experience ModelAssertions of Pine and Gilmore:Goods business - Charge for tangible thingsService business - Charge for the activitiesyou performExperience business - Charge for the timecustomers spend with you
In 1999, Pine & Gilmore presented their Brand Experience Model.The model shows the relationship between the addition of experiences on productsand services and successful branding.The theory is that an experience contributes to a positive internal and external brandexperience. A positive brand experience contributes to the top-of-mind position ofthe brand, so people know and trust the brand.
Experience marketingThe goal of immersive and absorptive experiences is to create a positive brand thatconsumers value and perceive to be delivering on their promises. Byaccompanying their products and services by educational and entertainmentexperiences, business can differentiate their offerings from competitors. Thisincreases performance and profitability.
The Brand Experience ModelThe matrix classifies experience into four domains, termed the ‘4ES’ that can contribute tostrengthening a brand experience.

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Term
Fall
Professor
N/A
Tags
Marketing, McDonald

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