The roe of database marketing and direct forms of communications to reach individuals is expanding - The demand for efficiency and accountability in organizations is increasing Inputs for marketing communications planning: consumer behaviour essentials - Consumer behaviour – the combined acts carried out by individuals - Need – the perception of the absence of something useful - Motive – a condition that prompts an individual to take action to satisfy a need - Personality – a person’s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to the environment in which that person lives Chapter 3 – Branding Strategy Defining the Brand - Brand – an identifying mark, symbol, word or words, or combination of mark and words that separates one product from another product; can also be defined as the sum of all tangible and intangible characteristics that make a unique offer to customers o Brand name – that part of a brand that can be spoken o Brand logo – a symbol that plays a key role in branding and creating an image o Trademark – the part of a brand that is granted legal protection so that only the owner can use it Brand Image and Reputation - Brand loyalty – the degree of attachment to a particular brand expressed by a consumer. There are three stages of brand loyalty:
o Brand recognition – customer awareness of the brand name and package o Brand preference – the situation where a brand is perceived as an acceptable alternative by a customer and will be purchased if it is available o Brand insistence – a situation where the consumer searches the market for the specific brand - Brand equity – the value (monetary or otherwise) of a brand to its owners; influenced by brand name awareness, degree of customer loyalty, perceived quality, and the brand’s association with certain attribute o Some of the benefits for consumers are: Over time, the brand name suggests a certain level of quality. Consumers know what to expect; they trust and have confidence in the brand There can be psychological rewards for possessing certain brands. For example, buying a brand new BMW automobile might suggest achievement to the owner. The automobile says something about the driver; it expresses his or her self-image. Brands distinguish competitive offerings, allowing consumers to make informed decisions based on what a brand stands for. Marketing communications play a key role in differentiating one brand from another. o Some of the benefits to organizations are: A good brand name communicates the point of difference, or unique selling point (USP), and highlights the distinctive value added. Branding allows for the creation and development of an image.
You've reached the end of your free preview.
Want to read all 11 pages?
- Fall '13
- Advertising, Brand, media advertising