Coke and Pepsi and Airwalk Notes

Thus we feel good buy it 3 factors of classical

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Thus, we feel good & buy it 3 factors of Classical Conditioning 1. Stronger UCS, the better 2. UCS pairs w/ NS 3. Repetition Take Away: - Generalizations – probability sample - Sign value o Coke focused on formula – Product o Coke’s role in consumer culture – Consumer - Publicity can be good, but you lose control of the information - Don’t over-determine (usually several variables are the cause of a problem) - Sign value is created through associations Markets & Consumers WCOB 2/24/09 page 2 Airwalk Day 1
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Terms for the Day: - Brand o Loyalty, equity, identity o Value-expressive consumption (VEC) o Icon - Segmentation o Demographics o Psychographics Airwalk is a shoe company, created by hobbyist, geared towards skaters in Southern California in the late 1980’s. It hit it big very quickly and lost the interest of it’s core customers. The original shoe was very durable and practical. It’s coolness factor caused the company to explode in growth. Brand (includes everything we know about a product) - symbolic embodiment of all information connected with a product o name, logo, & visual elements - includes expectations associated with a product I am an Airwalk Person…. - Brand loyalty - the degree to which consumers prefer 1 brand over potential substitutes. - measure of brand loyalty (measured in market shares, marketing research, etc.) - 3 stages of brand loyalty - recognition, preference, insistence - Late 80’s - Airwalk – skateboarding association created - $13M company after just a few years - Sign Value of Airwalk - Brand Equity - value consumer places on the brand - everything you think, feel, & know about a brand - trust = positive equity - Brand Identity outward expression of a brand - name & appearance - consumer recognition - differentiation from competitors - expresses value/allegiance to a reference group - VEC buying items to represent lifestyle, beliefs, & values Markets & Consumers WCOB 2/24/09 page 3 Airwalk Growth - Became an “icon” of consumers’ lifestyles
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o Sign whose form suggests meaning o New, edgy, cool - Expanded product line o Surfing, snowboarding, mountain biking, BMX shoes o Young, active, extreme, alternative consumers - Growth o 1993 - $16M o 1994 - $44M o 1995 - $150M o 1996 - $175M Concentrated Segmentation - focused (originally) on needs & wants of a specific consumer segment - slowly expanded target segment based on certain variables Segmentation - Demographics o Statistical characteristics of the population used to identify markets o Position a person hold sin social system or cultural context o Geographic location, socioeconomics, age, gender, ethnicity, occupation, education, religion - Psychographics o Psychological characteristics used for segmentation (essence of who you are) - VALS (survey) o Values & lifestyles o Segmentes along 2 dimensions 1. motivation 2. resources - AIO (survey) o Activities,, Interests, Opinions o “Beach and skater youth subcultures of California” VALS has 8 segments (can do a survey at ) 1. Innovators 2. thinkers 3. achievers 4. experiences 5. believers 6. servers 7. makers 8. survivors Take Away: - many products/brands position themselves for subcultures & use concentrated segmentation strategy
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- brand loyalty, equity, & identity are part of the same process. We use brands to express our values.
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