• symbolic embodiment of all information connected with product.
• includes names, logo, and visual elements- images/symbols

• outward expression of brand, including name and visual appearance
• fundamental means of consumer recognition and sybolizes brand's differentiation from competitors.
• Brand used to express values or allegiance to specific reference group
• Image

• Added value consumer places on brand.
• Helps with brand extensions
• Trusted (+) equity
• Not Trusted (-) equity
• Emcompasses everything consumer thinks, feels, and knows about brand.

• exhibited when people buy products that represent lifestyle, beliefs, and values.

• Degree to which consumer prefers 1 brand relative to potential substitutes.
• 1) Brand Recognition
• 2) Brand Preference
• 3) Brand Insistence

• Focused on needs and wants of specific segment of consumers
• Slowly expanding target segment beased on certain variables

• Statistical characteristics of human populations used to identify markets

• Psychological characteristics that allow for segmentation
• Values and Lifestyles (VAL)
• Segmentation along 2 dimensions: 1) Motivation 2) Resources
• Activities, Interest, Opinions (AIO)

1. Cool cannot be manufactured, only observed
2. The quicker the chase, the quicker the flight
3. You have to be one to know one

Lambesis (Marketing Firm)

• needed cutting edge research about fashion and style for target (L Report)

• Market Maven: expert or connoisser for "cool"
• highly involved with lots of insight
• learned to spot innovators (Ex. Jack Keller)

• Find cool people first, cool things later
• Ethnography

• Group of consumers who answer questions periodically
• Longitudinal Data

• how innovations diffuse from one part of the world to another

• Innovators: First to adopt, cutting edge and almost obsessed with "state of the art", not necessarily an inventor in all product categories.
• Introduction Stage of PLC

• Harajuku, Tokyo, Japan
• Gwen Stefani has interpreted the ideas and uses them in both her choreography and her music
• Gwen is an early adopter and opinion leader

• Innovators-2.5%
• Early Adopters-13.5% (very beginning of mainstream/opinion leaders)
• Early Majority-34%
• Late Majority-34%
• Laggards-16% (New isn't necessarily better and Price is a factor)

• Individuals adopt new stuff at different rates
• Introduction Stage: Innovators (no profit b/c the company is recovering R&D costs)
• Growth Stage: Early Adopters (profits increase and peak)
• Maturity Stage: Majorities (sales peak and profit margin narrows)
• Decline: Laggards (market shrinks: sales fall and profits fall)

• Relationship between Volume and Cost
• System "learning" how to improve: Economies of Scale, Learning, and Improving Production.

• Boarders using shoes fuctionally
• Early adopters translating fashion for mainstreaming
• Is it still cool?

1. Sender
2. Encoding
3. Message
4. Medium
5. Decoding
6. Reciever

• Trying to get customer's attention
• Source

• Put ideas into symbolic form
• Goal: reciever understands message

• Controlled by sender
• Visuals
• Specific target or Global Strategy

• Whatever used to get your message across (web, tv, newspaper etc.)

• Assigns meaning to the message

• Consumer
• Gives feedback by purchasing product or not

• Anything that interferes with communication

• Promotional Objectives: Inform, Persuade, Image Creation, and Reassurance
• Goal is to unify all marketing communication tools

• Active/Casual line of shoes introduced and heavily promoted
• Ads Lambesis created served role of "translator"-frame of reference for majority

• Airwalk "epidemic" began to falter
• Production problesm
• Lost "cutting-edge" sensability
• Market Segmentation Problem
• Lost "cool" by losing contact with core customers (Skaters)

• Each individual in population has known, nonzero chance of being in sample

1. Stratified Sampling- population divdied into a strata or sub population (ex. age groups)
2. Simple Random Sample from each strata (age and gender)
3. Cluster Sample- population divided into heterogenous subgroups, then SRS subgroups.

1. Convenience Sample - use anyone who is available
2. Judgement Sample- hand picked to give best idea
3. Quota Sample- select 2 people from each majority

• Sample wasn't told "Old" Coke would go away- Brand Extension- sign value

• Press conference with Roberto C. Goizuata
• Using publicity= unpaid buzz
• Publicity pros: efficient, cheap, and credible
• Publicity cons: no control