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| Promotion of a product by connecting with a unique experience. |
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| Consumers ad value w/ feedback; Marketers take the consumer info and generate rewarding experiences. |
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| Duh!!! Getting consumers permission to market to them (e-mail, text message, etc.) |
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| Experience customer has after the sale: how good are instruction manuals, did they have an 800 #, this also includes consumables such as ink (are they cheap / easy to obtain) |
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[image] My attempt at pricing band picture. Hey, theres no photoshop on my work computer only MS Paint. |
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| Strategy in which the seller sets the right product at the right price. |
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| EVERY DAY LOW PRICES!!!! Wal-mart strategy. [If you didn't get this don't bother showing up on Tuesday LOL] |
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| products or services are typically those manufactured or provided by one company for offer under another company's brand. [wiki] |
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| brands which are specific to a retail store or store chain. The retailer can manufacture goods under its own label, re-brand private label goods, or outsource manufacture of store brand items to multiple third parties - often the same manufacturers that produce brand label goods. |
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| products distinguished by the absence of a brand name (often supermarket goods). |
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| A brand that is marketed throughout a national market. |
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Way in which products are distributed to to consumers.
Direct - Company directly to consumer.
(mail order, Internet, telephone etc.)
Indirect - 3rd Party
(Retailer also called dealer or reseller) |
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| Integrated Marketing Communications (IMC) |
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Definition
| a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time. |
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| Message strategy of advertising |
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Definition
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| Creative strategy of advertising |
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Definition
| How an ad expresses brand claims. |
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| Word of mouth hype - a viral marketing technique that attempts to make each encounter with a consumer appear to be a unique, spontaneous personal exchange of information instead of a calculated marketing pitch |
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| Mass of commercials and promos, all of which compete for the listener's or viewer's attention |
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a Brands true meaning, fulfillment, aspiration and purpose. It is entirely positive, as it focuses on the essence of what customers find admirable,
emotionally involving, likeable and desirable.
[http://www.stepping-stones.org/externalDocs/E25.pdf.] |
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| Advertising Retrieval Cue |
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Definition
retrieval cue is any stimulus that helps us recall information (or for our purposes a brand) in long-term memory. In advertising you can think of it as that damn lizard in the Geico commercials.
[http://encarta.msn.com/encyclopedia_761578303_3/Memory_(psychology).html] |
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| when two companies form an alliance to work together, creating marketing synergy. |
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creating brand equity for materials, components or parts that are contained within other products.
Examples:
• Betty Crocker’s brownie mix includes Hershey’s chocolate syrup
• Pillsbury Brownies with Nestle Chocolate
• Intel Processors with Dell Computers
• Kellogg Pop-tarts with Smucker’s fruit |
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Definition
creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product.
[There is Harry Potter everything !!!!!] |
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| Corporate Trademark Licensing |
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Definition
Allowing a 3rd party to use a corporate name to create and sell a product under that name.
A trademark license should therefore include appropriate provisions dealing with quality control, whereby the licensee provides warranties as to quality and the licensor has rights to inspection and monitoring.
[Swiss Army Bookbags are not made by the original company. In fact 2 different companies lease the license to make them. Under the contract they must both honor the Swiss Army lifetime warranty. And exchanged my bag w/o any problems.] |
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| Brand Equity Measurement System |
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Definition
| Set of research procedures used to measure brand equity either (1) directly - assessing actual impact of knowledge on a consumer response. (2) indirectly - tracking brand knowledge (consumers thoughts and feelings). |
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Term
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Definition
Describes how to trace the value creation process to better
understand the financial impact of marketing expenditures and investments.
Stages:
Investment
Customer Mind-set
Market Performance
Shareholder Value
Multiplier:
Quality
Market Conditions
Investor Sentiment |
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| Return on Marketing Investment |
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Definition
optimization of marketing spending for the short and long term in support of the brand strategy by building a market model using valid, objective marketing metrics.
[Basically figuring out how to spend money the right way on advertising to optimize profits (return on the investment you made)] |
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Definition
Information gathered from consumers routinely over time.
Types of tracking studies:
Product, Corporate
or
Family, Global |
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| Qualitative research techniques |
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Definition
research whose findings are not arrived at by statistical or other quantitative procedures.
Examples:
Free association
Projective technique
ZMET |
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| Quantitative research techniques |
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Definition
A 'quantitative' attribute is one that exists in a range of magnitudes, and can therefore be measured. Quantitative research is the systematic scientific investigation of quantitative properties and phenomena and their relationships.
[On a scale of one to ten ...]
[7 out of 10 customers rate the SRU9600 9 out of 10 stars] |
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Definition
designed to let a person respond to ambiguous stimuli, presumably revealing hidden emotions [about a brand].
[What do you see in this stupid ink blot?] |
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| Zaltman Metaphor Elicitation Technique (ZMET) |
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Definition
A qualitative research technique designed to elicit peoples true feelings about a brand or product. [people bring in pictures or collages of pictures and tell why they remind them of the brand or product]
"ZMET tells you what consumers/respondents don’t know they know. ZMET digs deeper than traditional methods to uncover "hidden knowledge" - the underlying beliefs and feelings that influence the behavior of consumers and other stakeholders. Ninety-five percent of all thought is subconscious and ZMET is uniquely designed to elicit rich data from this realm of knowledge."
[http://www.bdrc.co.uk/research_services/zmet.html] |
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Definition
a statistical technique for taking the preferences and perceptions of respondents and representing them on a visual grid, called perceptual maps. [image] Example of Perception Map |
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