He is the only three-time winner of the coveted Alpha Kappa Psi award for the best annual article published in the Journal of Marketing. Wilkie "Marketing for a Better World" Award and subsequently received the Sheth Foundation Medal for Extraordinary Contribution to Marketing Scholarship and Practice.
Building Strong Brands 266
Marketing Strategies: Growth Stage 375 Marketing Strategies: Maturity Stage 376 Marketing Strategies: Decline Stage 377 MARKETING MEMO Manage a marketing.
Delivering Value 514
Forms of Word of Mouth 646 Creating Word of Mouth Buzz 646 MARKETING MEMO How to start a buzz.
Conducting Marketing Responsibly for Long-term
What’s New in the 15th Edition
What Is Marketing Management All About?
Integrated marketing – ensuring that multiple means of creating, delivering and communicating value are best deployed and combined. Performance Marketing – insight feeds back into the business through marketing activities and programs, as well as addressing wider issues and their legal, ethical, social and environmental impacts.
Instructor Resources
Alan Au, University of Hong Kong Hiram Barksdale, University of Georgia Boris Becker, Oregon State University Sandy Becker, Rutgers University. Rashi Glazer, University of California, Berkeley Bill Gray, Keller Graduate School of Management Barbara Gross, California State University at Northridge Lewis Hershey, Fayetteville State University.
Philip Kotler
We also want to thank our project manager, Becca Groves, for making sure everything was up and running in such a nice way, both with the book and the supplements.
Kevin Lane Keller
Improve Your Grade!
The Value of Marketing
American Express cardholders received a $25 discount on purchases at local, independent stores on Small Business Saturday. American Express' Small Business Saturday has struck a chord with consumers, including TV personality Katie Couric.
The Scope of Marketing
What Is MarketInG?
What Is MarketeD?
Real estate agents work for property owners or sellers, whether they buy and sell residential or commercial property. Firms make business decisions using information provided by organizations such as Thomson Reuters: "We combine business expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare, science and media markets, driven by the world's most trusted news organization.”15.
Who Markets?
The inner loop shows the exchange of money for goods and services; the outer loop shows the exchange of information. Business Markets Companies that sell business goods and services often encounter well-informed professional buyers who are adept at evaluating competing offers.
Core Marketing Concepts
A brand name like Apple evokes many different kinds of associations in the minds of people who shape its image: creative, innovative, easy to use, fun, cool, iPod, iPhone and iPad, to name a few.
MarketInG channels
PaID, oWneD, anD earneD MeDIa
Impressions, which occur when consumers view a communication, are a useful metric for tracking the scope or breadth of reach of a communication that can also be compared across communication types. It reflects a much more active response than a simple impression and is more likely to create value for the firm.
Value anD satIsfactIon
The New Marketing Realities
At the other end of the size spectrum, by running Facebook ads offering new customers a free haircut, shampoo and hot towel treatment in exchange for name, phone number, email address and preferred social network, The Gent's Place barbershop can Frisco, Texas, picked up 5,000 customers. However, iPads allow sales teams to enter real-time data, improving the quality of data entered and freeing up time for other tasks.30.
GloBalIzatIon
The old belief that "information is power" is giving way to the new idea that "sharing information is power."27 Software giant SAP's online community numbers more than 2 million customers, partners and others.
A third wave of thinking, value-driven and heralded as "Marketing 3.0," has moved us beyond the product-centric and consumer-centric models of the past, these authors say. Michael Krauss, "Evolution of an Academic: Kotler on Marketing 3.0," Marketing News, January 30, 2011; Vivek Kaul, "Beyond Advertising: Philip Kotler remains one of the most influential marketing thinkers," The Economic Times, February 29, 2012.
A Dramatically Changed Marketplace
With smartphones, they can scan barcodes and Quick Response (QR) codes to access a brand's website and other information.42. Nearly two-thirds of consumers in one survey reported that they disliked advertising.43 For these and other reasons, consumers may be less tolerant of unwanted marketing.
By opting in or out of lists, they may receive marketing and sales related communications, discounts, coupons and other special offers. Businesses can reach consumers quickly and effectively through social media and mobile marketing, by sending targeted ads, coupons and information.
Marketing in Practice
MarketInG Balance
Marketers are increasingly asked to justify their investments in financial and profitability terms, as well as in terms of building the brand and expanding the customer base. As the late David Packard of Hewlett-Packard noted, "Marketing is far too important to leave to the marketing department." Marketing is increasingly not only done by the marketing department; every employee has an influence on the customer.
Company Orientation toward the Marketplace
So they apply more metrics—brand equity, customer lifetime value, return on marketing investment (ROMI)—to understand and measure their marketing and business performance and a wider variety of financial metrics to measure the direct and indirect value their marketing efforts create. to determine. To create a strong marketing organization, marketers must think like managers in other departments, and managers in other departments must think more like marketers.
Reinventing Marketing at Coca-Cola
They allocate marketing efforts in relation to the long-term profit potential of the targeted segments. Reprinted with permission from The Free Press, a division of Simon & Schuster Adult Publishing Group.
Updating the Four Ps
They also consider the legal, ethical, social and environmental impacts of marketing activities and programs. It includes the old four Ps and a range of other marketing activities that may not fit so neatly into the old view of marketing.
Marketing Management Tasks
Its macro environment includes demographic, economic, physical, technological, political-legal and socio-cultural forces that affect sales and profits (see Chapter 3). They can use sales response functions that show how the amount of money spent in each application will affect sales and profits (see Chapter 4).
Marketers’ Frequently Asked Questions
DelIVerInG Value
Nike's bet paid off - the Air Jordan line of basketball shoes flew off the shelves and revenue topped $100 million in the first year alone.
Marketing Excellence
Marketing Debate
Marketing Discussion Shifts in Marketing
Nike's big break came in 1994 when the Brazilian team (the only national team for which Nike had any real sponsorship) won the World Cup. For example, Nike's lead in the running category grew to 60 percent market share thanks to its revolutionary running app and community called Nike+ (plus).
From the beginning, it has strived to be one of the "good guys" in the corporate world, supporting a sensitive work environment, strong ethics and a well-known founding credo: "Don't be evil." Google currently has a 67 percent market share for core search in the United States, significantly larger than Microsoft's 17 percent and Yahoo! s 15 percent market share. 168–69; Jefferson Graham, "Google's Profit Sails Past Expectations," USA Today, October 21, 2005; Dan Frommer, "Google's Android Mobile Platform Goes Big," Advertising Age, October 8, 2009; Rita Chang, "Google Set for Richer Ads on Smartphones," Advertising Age, October 5, 2009; “comScore sets September 2012 U.S.
Marketing and Customer Value
The Value DelIVerY Process
Developing the right marketing strategies over time requires a blend of discipline and
The Value chaIn
A strategic marketing plan defines the target markets and the company's value proposition based on an analysis of the best market opportunities. A tactical marketing plan defines marketing tactics, including product features, promotion, marketing, pricing, sales channels, and services.
Corporate and Division Strategic Planning
Marketing experts George Day and Robert Malcolm believe three driving forces will change the role of the CMO in the coming years: (1) predictable market trends, (2) the changing role of the C-suite, and (3) uncertainty about the economy. and organizational design. Day and Robert Malcolm, “The CMO and the Future of Marketing,” Marketing Management, Spring 2012, pp.
What Does it Take to Be a Successful CMO?
It is a single business, or a collection of related businesses, that can be planned separately from the rest of the company. The purpose of identifying the company's strategic business units is to develop separate strategies and allocate appropriate funding.
The company first considers whether it can gain more market share with its current products in their current markets, using a market penetration strategy. The company may acquire one or more of its suppliers, such as plastic material producers, to gain more control or generate more profit through backward integration.
Business Unit Strategic Planning
The busIness mIssIon
The threats in the upper left cell are big because they have a high probability of occurring and can seriously hurt the company. Dell's threat was that it would not generate a large enough customer base in the face of strong competitors and demanding channel partners.
Checklist for Evaluating Strengths/Weaknesses Analysis
Dell's opportunity was that the consumer market was becoming more sophisticated and customers increasingly knew exactly what they wanted. Dell's business strategy combined direct sales, Internet marketing, mass customization, and just-in-time production to take advantage of the market opportunity it was offered.
Goal formulaTIon
A smart company creates a high level of employee satisfaction, which leads to higher effort, which leads to higher quality products and services, which creates higher customer satisfaction, which leads to more repeat customers, which leads to higher growth and profits. which leads to high shareholder satisfaction, which leads to more investment and so on. As one notes, "When I'm using the e-textbook, there's the temptation to check email, check my grades, or check Facebook."
Marketing Plan Criteria
Here, the marketing manager defines the mission, marketing and financial goals, as well as the needs that the market offer aims to satisfy, as well as its competitive positioning. Here, the marketing manager describes the marketing activities that will be carried out to implement the marketing strategy.
The role of research
How do we define the market, how big is it and how fast is it growing? The final section sets out the control mechanisms for monitoring and adjusting the implementation of the plan.
The role of relaTIonshIPs
This section presents relevant data on sales, costs, the market, competitors and the macro environment. Second, it affects how the company works with suppliers, distributors, and partners to achieve the plan's objectives.
Third, it affects the company's dealings with other stakeholders, including government regulators, the media and society at large. Take a position: Mission statements are critical to a successful marketing organization vs. Mission statements rarely provide useful marketing value.
Marketing Discussion Marketing Planning
At the same time, critics claim that they sometimes lack "teeth" and specificity or do not vary much from company to company and make the same empty promises.
These massive acquisitions have made Emirates the largest operator of Airbus (A380) and Boeing (777) aircraft in the world, reflecting the company's global aspirations. It is considered to be one of the largest and most competitive air service providers worldwide.
Emirates is considered an innovative organization in terms of technology due to its acquisition of the cutting edge storage infrastructure in the Middle East. This global positioning of the company has engendered aversion from competitors who considered Emirates a serious threat in the market.
- Executive Summary
- Situation Analysis
- Market Summary
- Market Demographics
- Market Needs
- Market Trends
- Market Growth
- SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
- Competition
- Product Offering
- Keys to Success
- Critical Issues
- Marketing Strategy
- Mission
- Marketing Objectives
- Financial Objectives
- Target Markets
- Positioning
- Marketing Tactics
- Product
- Pricing
- Distribution
- Communications
- Marketing Research
- Financials
- Break-Even Analysis
- Sales Forecast
- Expense Forecast
- Controls
- Implementation
- Marketing Organization
- Contingency Planning
Pegasus is blessed with the good fortune of being located at the center of the skating world: Venice, California. She will be able to take advantage of this convenient location by working with many of the different skaters who live in the area.
Making marketing decisions in a fast-changing world is both an art and a science
Components of a Modern Marketing Information System
Per capita per year, the Irish drink the most chocolate (24.7 pounds), the Czechs the most beer (131.7 liters), the French the most wine (45.7 liters) and the Greeks the most cigarettes (4313). 3 Table 3.1 summarizes other comparisons by country. A company's marketing information system must combine what managers think they need, what they really need, and what is economically feasible.
Internal Records
The Order-TO-PaYmenT CYCle
SaleS InfOrmaTIOn SYSTemS
Marketing Intelligence
Independent forums include websites such as Epinions.com, RateItAll.com, ConsumerReview.com and Bizrate.com. ZDNet.com provides customer and expert reviews of technology products based on ease of use, features and stability.
Analyzing the Macroenvironment
Amazon.com offers an interactive feedback facility through which customers, readers, editors, and others can review all products on the site, especially books. Elance.com is an online professional services provider that allows contractors to describe their experience and satisfaction level with subcontractors.
IdenTIfYInG The majOr fOrCeS
Thirty villagers would be unemployed or underemployed, while of the 70 who would work, 28 would work in agriculture (primary sector), 14 would work in industry (secondary sector), and the remaining 28 would work in the service sector (tertiary sector). At the end of a year, one villager would die and two new villagers would be born, so the population would increase to 101.
Finding Gold at the Bottom of the Pyramid
56–65; Vijay Govindrajan, “A Playbook for Reverse Innovation,” Harvard Business Review, April 2012, pp.120–23; Felicity Carus, “Reverse Innovation Brings Social Solutions to Developed Countries,” The Guardian, August 29, 2012; Constantinos C. More than two-thirds of the world's 793 million illiterate adults are in just eight countries (Bangladesh, China, Egypt, Ethiopia, India, Indonesia, Nigeria and Pakistan); of all illiterate adults in the world, two-thirds are women; Extremely low literacy rates are concentrated in three regions – the Arab states, South and West Asia and Sub-Saharan Africa – where about a third of men and half of all women are illiterate (2005 estimate).31.
The naTural envIrOnmenT
Based in Dublin, Airtricity operates wind farms in the United States and the United Kingdom that offer cheaper and greener electricity. Trends that marketers need to be aware of include scarcity of raw materials, especially water; increased energy costs; increased level of pollution; and the changing role of governments.46 (See also “Marketing Insight: . The Green Marketing Revolution.”).
The POlITICal-leGal envIrOnmenT
FDA fulfills this responsibility by ensuring the safety of the food supply and promoting the development of medical products to respond to intentional and natural threats to public health. The FDA looks at the safety and efficacy of each proposed new drug, but also additional considerations such as the integrity of the global manufacturing chain that makes it, post-marketing studies as a condition of approval, and demonstrable superiority over existing therapies.
The meaSureS Of markeT demand
The target market is the part of the qualified available market that the company decides to pursue. If the company is not satisfied with its current sales, it can try to attract a larger percentage of buyers from its target market.
The corporate sales forecast is the company's expected level of sales based on a chosen marketing plan and an assumed marketing environment. The company's revenue forecast is not a basis for deciding what to spend on marketing.
Seattle has a BDI of 114 because the brand is relatively more developed than the category in Seattle. Normally, the lower the BDI, the higher the market opportunity, as there is room to grow the brand.
If a company's sales increase by 5 percent per year and industry sales increase by 10 percent, the company is losing its relative status in the industry. Using what people say requires examining buyer intent, synthesizing sales force opinions, and expert opinion.
Marketing Discussion Age Targeting
Some marketers targeting certain age groups maintain that age differences are critical and that the needs and wants of a 25-year-old in 2015 are not that different from those of a 25-year-old in 1980. Others argue that cohort and generational effects are critical and that marketing programs must therefore match the times.
After the recession ended, Microsoft's image and stock began to recover, thanks to the success of its retail stores, effective marketing, and a wide range of new product launches. Over the next several years, Microsoft's stock price fell by more than $40 per share as consumers waited for the next operating system to be released.
Nutella's 2010 social promotion included sponsorship from Football Association Australia and the Socceroos, the Australian national football team, and was one of the biggest sponsorship campaigns in the brand's history. First, it conducts internal taste testing to determine whether consumers rate the product according to the company's equally high standards.
To make the best possible tactical decisions in the short run and strategic decisions
The Scope of Marketing Research
Importance of marketInG InsIGhts
When market research showed that consumers largely viewed Walgreens as a store with a pharmacy in the back, the company took steps to reposition itself as a premium healthcare brand, placing greater emphasis on its wellness offerings, such as clinics that walk on them.5 . As a result, the company redesigned Pantene products, redesigned the packaging and shrunk the line from 14 "collections."
Who Does marketInG research?
Leveraging the expertise of marketing partners - Marketing research firms, advertising agencies, distributors and other marketing partners may be able to share relevant market knowledge they have accumulated. They typically budget marketing research at 1 percent to 2 percent of the company's sales and spend a large percentage of that on the services of outside firms.
Students gain experience and visibility; companies get fresh eyes to solve problems at a fraction of what consultants would pay.10 The nonprofit United Way uses graduate students and interns as critical marketing resources to collect and consolidate marketplace data and create major research projects.11. Star Wars In the 1970s, a successful marketing research executive left General Foods to try a bold venture: bringing market research to Hollywood to give movie studios access to the same research that had fueled General Foods' success.
The Marketing Research Process
Develop the research plan
A firm specializing in focus group research claimed that Minneapolis was the best city to sample well-educated people who were honest and forthcoming. To increase interaction among focus group members, some researchers assign pre-session homework such as journaling, photography, and videography.
Conducting Informative Focus Groups
If the experiment is well designed and executed, research and marketing managers can have confidence in the conclusions. They can be a particularly useful first step in exploring consumer perceptions because respondents can be less guarded and reveal more about themselves in the process.
Marketing Questionnaire Dos And Don’ts
- collect the InformatIon
- analYze the InformatIon
- present the fInDInGs
- make the DecIsIon
Thus, after selecting the sample, marketers could conclude that "the interval of five to seven trips per year has a 95 out of 100 chance of containing the actual number of trips taken annually by first-class passengers traveling between Chicago and Tokyo flies." G1, G3; Kevin Randall, "Neuromarketing Hope and Hype: 5 Brands Conducting Brain Research," Fast Company, September 15, 2009; Todd Essig, "The Future of Focus Groups: My Brain Knows What You Like," Forbes, April 28, 2012; Carmen Nobel,
Measuring Marketing Productivity
The easiest way to create and measure social media benefits is to include a contest, sweepstakes, or promotion. Moe and Chris Boudreaux, “Social Media Intelligence: Measuring Brand Sentiment from Online Conversation,” MSI Report 12-100 (Cambridge, MA: Marketing Science Institute), 2012.
Measuring social media ROI
Originally, the focus for measuring the effects of social media was on easily observed quantities such as the number of Facebook "likes" and Twitter tweets per week. Some marketing experts compare social media to a telephone: How will you evaluate the return on investment of all the different calls you make.
The Stakeholder Performance Scoreboard tracks the satisfaction of various constituencies that are critical and impact the company's performance: employees, suppliers, banks, distributors, retailers and shareholders. Percentage of customers who say the company's product is the most popular in its category.
Designing Effective Marketing Dashboards
The brand metrics track tracks the evolution of longer-term marketing impact through brand equity measures that assess the perceived health of the brand from the perspective of the customer and prospect, as well as the overall financial health of the brand. Others argue that the only legitimate and justifiable form of marketing research is the use of quantitative measures.
Marketing Discussion Survey Quality
Some researchers argue that in-depth, qualitative research is the only way to really learn about consumers or brands. Take a stand: the best marketing research is quantitative in nature versus the best marketing research is qualitative in nature.
IDEO encourages its customers, even senior executives, to participate in research so they can get a sense of the actual customer experience with their product or service. This new strategic focus and emphasis on consumer research helped improve the company's stock value and market position in the early 2000s.
From 1995 to 1997, Intuit's shares plummeted 72 percent and the company was forced to refocus its strategic efforts. A Lab Study invites consumers into one of Intuit's research labs to test and experiment with Intuit's new products and ideas.
Although their enhanced capabilities can help companies earn strong customer loyalty,
Building Customer Value, Satisfaction, and Loyalty
With the advent of digital technologies, increasingly informed consumers expect companies to do more than connect with them, more than satisfy them and even more than delight them. As a result of these efforts, the site's revenue and the number of new buyers visiting the site both increased by more than 150 percent.3.
Customer-PerCeIved value
As Adam Smith observed more than two centuries ago in The Wealth of Nations, “The real price of anything is the effort and trouble of obtaining it.” The total cost of the buyer therefore also includes the buyer's time, energy, and psychological costs spent in acquiring, using, maintenance, ownership and disposal of the product. Second, it can reduce the buyer's non-monetary costs by reducing time, energy and psychological investment.
Companies that achieve high customer satisfaction ratings make sure their target audience knows this. Morgan and Lopo Leotte Rego, “The Value of Various Customer Satisfaction and Loyalty Metrics in Predicting Business Performance,” Marketing Science 25 (September-October 2006), pp.
Maximizing Customer Lifetime Value
In 2014, British Airways also received the Times Travel Award for Best Airline, the Condé Nast Traveler Award for Short-Haul Airline of the Year, several Daily Telegraph awards and the prestigious China Travel Industry Award for Best European Airline and the Superbrands Consumer Superbrand Award. All this is in stark contrast to the problems British Airways suffered between 1996 and 2009, when severe budget cuts led to job losses, low employee morale and strikes.
Customer ProfItabIlItY
Companies must concern themselves with Return on Customer (ROC) and how efficiently they create value from the customers and prospects that are available.30 It is not always the company's largest customers that demand significant service and deep discounts or that generate the most profit. . Mid-range customers who receive good service and pay close to full price are often the most profitable.
Gupta and Lehmann illustrate their approach by calculating the CLV of 100 customers over a 10-year period (see Table 5.3). Therefore, the future CLV of an existing customer in this scenario is simply his or her annual margin multiplied by 2.5.
Calculating Customer Lifetime Value
Promotional campaigns that reinforce brand value, even if targeted at already loyal customers, may be more likely to attract new, higher-value customers. The marketing funnel identifies the percentage of the potential target market at each stage in the decision-making process, from merely aware to highly loyal.
Selecting and training employees to be knowledgeable and friendly increases the likelihood that customers' shopping questions will be answered satisfactorily. Deere & Company, which makes John Deere tractors and has an excellent record of customer loyalty—nearly 98 percent annual retention in some product lines—used retired employees to interview defectors and customers.55.
It also developed a strong brand community in the form of an inclusive owners club, called the Harley Owners Group (H.O.G.), which sponsors bike rallies, charity rides and other motorcycle events and now has more than 1 million members in about 1,400 branches. A brand community can be a constant source of inspiration and feedback for product improvements or innovations.
WIn-baCks
Cultivating Customer Relationships
Customer relatIonshIP manaGement
The best of the 1800 submissions were displayed in the Converse Gallery as part of a wide Nike was once a target of savvy online critics who skillfully used search engine optimization to populate unflattering portraits of the company.
Marketing Discussion Using CLV
The success of Audi's marketing over the past twenty years becomes clear when you compare the company's sales figures with the sales of their main competing brands, BMW and Mercedes-Benz. The compact and mid-range cars A1, A3 and A4 mark the other side of the product portfolio.
Based on 2013 sales figures, BMW leads the market by a narrow margin with 1.66 million cars compared to Audi's 1.58 million and Mercedes-Benz's 1.46 million cars. The company's image as a superior sports car manufacturer is reinforced with models such as the R8, a car based on Audi's racing car prototype for the Le Mans 24-hour race.
Thus, Harley-Davidson employees around the world can be sure to deliver the genuine Harley-Davidson experience. Key feedback that Harley-Davidson's strong brand still appeals to younger audiences is encouraging.
Marketers must have a thorough understanding of how consumers think, feel, and act
Adopting a holistic marketing orientation requires a complete understanding of customers: gaining a 360-degree view of both their daily lives and the changes that occur during their lives, so that the right products are always delivered in the right way to the right customers at the right time. be marketed.
What Influences Consumer Behavior?
Cultural FaCtors
Average time spent per person per day - 4th quarter 2013. and practicality, progress, material comfort, individualism, freedom, external comfort, humanitarianism and youth.3 A child growing up in another country may have a different view of himself, attitude to others, and rituals. Almost all human societies exhibit social stratification, most often in the form of social classes, relatively homogeneous and permanent divisions in society, hierarchically ordered and with members who share similar values, interests, and behaviors.
Best-selling author Malcolm Gladwell claims that three factors work to spark public interest in an idea.8 According to the first, the "Law of the Few," three types of people help spread an idea like an epidemic. A pioneer in the field, Klout measures the influence a person has on the Internet with their Klout scores.
Personal FaCtors
By the time children are around 2 years old, they can often recognize characters, logos and specific brands. Not surprisingly, the baby industry attracts many marketers given the huge amount of money parents spend—it's estimated to be a $36 billion market annually—and its life-changing nature.23.
The Average U.S. Consumer Quiz
A lifestyle is a person's pattern of living in the world, expressed in activities, interests and opinions. By appealing to thrifty consumers, Walmart has become the largest company in the world.
Key Psychological Processes
Core values go much deeper than behavior or attitude and, at a fundamental level, guide people's choices and desires in the long term. Marketers who target consumers based on their values believe that by appealing to people's inner selves, it is possible to influence their outer selves, their purchasing behavior.
MotIvatIon
People will try to satisfy their most important need first and then move on to the next. For example, a starving man (need 1) will not be interested in the latest happenings in the art world (need 5), nor in the way he is perceived by others (need 3 or 4), nor in whether he breathes clean air (need 2), but when he has enough food and water, the next most important need will be noticeable.
PerCePtIon
The Power of Sensory Marketing
Childers, “Individual Differences in Haptic Information Processing: On the Development, Validation, and Use of the 'Need for Touch' Scale,” Journal of Consumer Research 30 (December 2003), pp. Simulation through Product Orientation,” Journal of Consumer Research 38 (April 2012), p.
Selective bias can work to the advantage of marketers with strong brands when consumers distort neutral or ambiguous brand information to make it more positive. A new company can enter the market by appealing to the same incentives that competitors use and by providing similar signals, because buyers are more likely to transfer loyalty to similar brands (generalization); Or the company could design its brand to appeal to a different set of incentives and provide strong incentives to switch (discrimination).
Discrimination means that we have learned to recognize differences in sets of similar stimuli and can adjust our responses accordingly. Thus, consumers are more likely to blame a product than themselves, which puts pressure on marketers to carefully explain product functions in well-designed packaging and labels, informative advertisements and websites, and so on.
MeMorY
The effectiveness of recycling cues is one of the reasons why marketing within a supermarket or any retail store is so critical - the product packaging and use of mini-billboard displays in the store remind us of information already conveyed outside the store and become the most important determinants of consumer. decision making. Accessibility of a brand in memory is important for another reason: People talk about a brand when it is top of mind.51.
The Buying Decision Process: The Five-Stage Model
Information may be available in memory, but cannot be recalled without appropriate cues for retrieval or recall. In stores, CoverGirl generated attention and interest with live product demonstrations, co-branded print ads with Walmart, and cardboard trays featuring product features and the product kits themselves.
ProbleM reCoGnItIon
CoverGirl is one of P&G's most digitally supported brands, recognizing the high level of consumer involvement and the need to stay up-to-date. When you buy your regular brand of toothpaste, you go straight from need to purchase decision, bypassing research and evaluating information.
InForMatIon searCh
For example, product alternatives can be presented according to their anticipated attractiveness to the consumer. The company must also identify other brands in the chosen consumer group so that it can plan appropriate competitive appeals.
The marketer might try to convince buyers to place more importance on the qualities in which the brand excels. In the evaluation phase, the consumer forms preferences among the brands in the choice set and may also form the intention to purchase the most preferred brand.
