EXAM II Flashcards
(38 cards)
Culture
- What’s going on and what is most important
- Always look up and out before inward
- Be a cultural sponge
Ex. David Lynch PTSD advertisement
Category/industry
- What’re relevant trends affecting the category?
Ex. Pepsi - issues with health, environmental, tariffs, not trending anymore, competition
Databases
- How to do research on your industry Ex. Business source complete Business Insights S&P Net Advantage EDGAR NASICS
Fragmented Industry
An industry in which no single enterprise has large enough share of the market to be able to influences the industry’s direction
Ex. Hair Salons
Emerging INdustry
Formed by a new product or idea, that is in the early stages of development, or quickly evolving.
Ex. Solar energy
Mature Industry
Saturated with little or no new growth
Ex. Auto industry
Declining Industry
Producing one or more products declining in demand and profitability
Ex. Railroad in the US
What is PEST model used for?
When evaluating a company
P.E.S.T
Political (Legal and regulatory) - changes in law, global conflicts, encironmental changes, SCOTUS and local court decisions
Economic - Consumer spending (selectionists vs survivalists), Income distribution, Recession or boom
Societal - Social forced affect our attitudes, interests, beliefs and opinion, Hofstede principles, family and friends
Technological - government spending on tech research, lifecycle of current tech, the role of the internet, imoact of potential info tech changes
What is The Black Box
How consumers make their purchasing decisions. Stimuli goes in and action or lack of action comes out. What is inside the boc cannot be controled by marketers or strategic communicators.
The Black Box
- Personal - age/life stage, occupation, economic situation, lifestyle, personality
- Psychological - motivation, perception, learning, beliefs and attitudes
- Culture - individual, subculture, social class, microculture
- Social - reference groups, roles and status
5 types of consumer buying behavior
- Complex buying - occurs when a consumer has a high level of incolvement in a decision making (expensive, risky, highly self-epressive, purchases infrequently, needs to learn about it)
Ex. Tattos - Dissonance-reducing buying - high-involvement deicsion but perceieves little difference among brands, purchase often made quickly based on price or convience
Ex. Air Line Travel - Habitual buying - Low-involvement purchase, little percieved differnce among brands, consumers dont search for information
Ex. Consumer goods - Variety-seeking buying - Low-involvement deciison, percieves differences in brands, might pick something different, switches up for variety not dissatisfaction
Ex. Shaving cream - Business buying behavior - busineess buyers face more complex buying decisions, which involve large sums of money, complex and technological economic considerations, multiple people in process, more formalized.
When making apurchse consumers go through the 5 stage deciison process, which is not always linear. The 5 stages are.
- Recognition of a need
- Informaiton search
- Evaluation of alternatives
- Purchase decision
- Post-purchase behavior
Need to know what is going on internally of a company to portray your extrnal goals. What are the 6 internal factors?
- Ideology (ex. Patagonia, sustainability)
- Behavior
- History (busweiser or volkswagon)
- Leadership (elon musk)
- Profits
- Goals
Three strategic communication roles
- Inform and persuade by creating meaning and personality for a brand
- Build and maintain brand loyalty
- Expand the brands role
Brand Identity Prism
under inform and persuade for strat com roles
- Physique - the actual recognizable identity of a brand, logo, design, font, graphic, color, scent, shape, sound, names, and slogans
- Personality - the way a brand speaks and behaves in human terms, it’s that aspect of the brand that generates emotional character and associations in consumers’ minds (do this through using a celebrity, music association, culture and essence, relationships)
- Reflection - refers to the reflection of the consumer, the brand’s most stereotypical buyer or users
- Self-image - refers to the consumer’s ideal self - can connect to personality
_____ is crucial because you cant choose what you don’t _____
awareness and remember
Brand recognition and brand recall
- Top of mind awareness (sexy underwear and VS)
2. Aided awareness (Halloween candy)
The values institute
Under maintain, build and bolster brand loyalty
- Ability - company or organization’s performance
- Concern - care for consumers, employees and community
- Connection - sharing consumers values
- Consistency - dependability of products/services
- Sincerity - openness and honesty
Trustworthy brands create relationships with the consumer through experiences that trigger visceral reactions, and loyalty stems from our ability to trust a brand.
Highest brand loyalty companies are
- Amazon
2. Zara
Expanding A brands role
- Brand positioning - a business role not strat com
- Introduce new brands, extensions, and partners (coke - diet coke, southwest - Nabisco and coke)
- Brand integrity - nonprofit brands have to join or partner with for-profit brands and it cannot be in conflict to maintain both brands integrities (WWF and Coke)
- Brand affinity - Non-profits have to be good team players
your _____ - campaigns - cannot go anywhere if the brand _____ is unclear or non-existent
communication efforts & story
this is your job!
The overall theme of this unit is
External and Internal Assessment
What are some impacts of music selection and customer behavior?
1/2 of customers will leave the store if they do not like the music
Customers will shop longer if they like the music
Music can increase customer fidelity to a brand because they search for things that reflect them if chosen correctly
Music strengthens the brands personality
