Lecture 5 Flashcards
(19 cards)
Memory
Memory is the ability of storing and retrieving information
Retrieval
Retrieval is the process of remembering or accessing what was previously stored in memory
Types of memory
Long term memory is the episodic / semantic knowledge
Working memory is the discursive / imagery processing
Recognition
Recognition is the process of identifying whether we have previously encountered a stimulus. Eg brand recognition - “which of the following brands have you heard of”
Recall
Recall is the ability to retrieve information from memory without being reexposed to it
Eg brand recall - “please indicate which headphone brands have you heard of”
Knowledge content
Knowledge content is the information we have already earned and stored in memory about brands companies people
Knowledge structure
Knowledge structure is how we organise knowledge ( episodic and semantic) in our memory
Knowledge content schema has
Schema is the associatieve network linked to an object person
Knowledge about what people brands and sales people are and what they mean - based on personal experiences and other information ( eg advertising and word of mouth)
Both episodic and semantic memory
Brand image
Brand image is consumers often use associations with brands to predict product benefits
Brand image is a schema that captures what a brand stands for and how consumers view it three dimensions that are crucial and maintaining Strong brands:
Favourability
Uniqueness
Salience
Brands with favourable unique and salient associations have higher brand equity, sell for higher princes and have more loyal customers
Need to identify and understand the various favourable, unique and salient associations that consumers link to particular brands and categories
Knowledge content: scripts
Script is a special schema that represents knowledge of a sequence of actions involved in performing an identity
Helps to complete tasks easy and quickly
Some brands may activiste scripts in consumer minds > brand specific behaviour
Two crucial requirements for authenticity
Be true to yourself; past limits future
Be what you say you are: implementation counts
Brand identity to brand image
Internal strategy > external implication
Brand identity > positioning > implementation > brand image
Image circle in middle is brand essence then next circle is brand benefits and last one is brand personality
Brand positioning objectives
Creating a unique position in the mind of the target group
Differentiating the brands from competitors
Setting points of differentiation while keeping points of parity
Points of parity = elements of a brand considers to be mandatory to be competitive in their field
Point of differentiation is what makes your brand different to others - gives it that cutting edge
Points of differentiation vs points of parity example of Audi vs bmw
Points of differentiation
Audi: innovative ness
BMW; sportiness
Points of parity:
Audi: safety, exclusivity, quality, sportiness
BMW; safety, exclusivity, quality, innovative ness
Fields of integration
Formal integration (eg form and colour codes) > content integration ( eg brand associations, information) > process integration (eg product returns, customer service)
Potential pitfalls:
Building brand awareness before establishing brand identity and brand positioning
Promoting points of differentiation consumers do not care about / easily be copied
Leaving your position to respond to competition
Not being able to meet the important points of parity
Becoming overt confident about repositioning your brand
Taxonomic category’s
Taxonomic category structure = organisation of objects in ordered, hierarchically structures categories with similar objects in the same category
That is grouping object and people together in categories that sharw certain characteristics. Once we have categorised an object we know what it is, what it is like and what it is similar too
Prototype
Products, brands, objects etc in how well they are perceived to represent a category (ie graded structure)
Prototype is the best example of a cognitive mental category
Factors hat affect whether consumers regard a product as a more or less prototypical for a category:
Shared associations
Frequency
First / pioneer
Key takeaways of lec 5:
Memory process and existing knowledge drive decision making
Schema are important representations of consumers associations with a product, brand etc. Specifically the brand image is a schema if what a brand stands for from the consumers view
Brands with favourable, unique and salient associations have a higher brand equity, sell for higher prices and have more loyal customers
PoSitioning is key to establish these associations. Need to find the points of differentiation while keeping the points of parity.
Consumers organise objects based on how similar ( and different) they are compared other members of a category; prototypically of a brand influences decision making
