Duplication of Purchase Law in Marketing

<p>Both models provide insights into how brands share customers and purchase propensities within a category. (A)</p> Signup and view all the answers

<p>Recognize that customer sharing is inevitable and focus on building strong brand relationships. (B)</p> Signup and view all the answers

<p>STP theory is more strategic, while the 4P's framework is more tactical. (B)</p> Signup and view all the answers

<p>bY|X = D × bY (B)</p> Signup and view all the answers

<p>The constant known as the duplication coefficient. (D)</p> Signup and view all the answers

<p>It assumed that Monzo would acquire customers from a specific segment. (C)</p> Signup and view all the answers

<p>Customers often have multiple relationships with different brands rather than just one. (A)</p> Signup and view all the answers

<p>The growth of the various banks is not directly attributed to unique value propositions. (D)</p> Signup and view all the answers

<p>Consumers maintain relationships with multiple banks, demonstrating a form of 'polygamous' loyalty. (D)</p> Signup and view all the answers

<p>The set of brands that a customer regularly engages with and interacts with. (D)</p> Signup and view all the answers

<p>Other brands should try to replicate Monzo's growth strategy of targeting 'across the board' customers. (E)</p> Signup and view all the answers

<p>Customers frequently purchase from multiple brands within the same product category. (D)</p> Signup and view all the answers

<p>Customers frequently maintain relationships with multiple banks rather than exclusively switching between them. (B), Customers frequently maintain relationships with multiple banks rather than exclusively switching between them. (C)</p> Signup and view all the answers

<p>The analysis suggests that mental availability is a crucial market-based asset that drives brand growth and market share in the fashion retail sector. (D)</p> Signup and view all the answers

<p>Significant investment in advertising campaigns to reach target customers. (A)</p> Signup and view all the answers

<p>It demonstrates that larger QSR brands have greater mental availability in all consumer groups, explaining their dominance in the market. (D)</p> Signup and view all the answers

<p>It demonstrates that larger brands have a broader reach and greater influence, even among consumers who have not yet interacted with the brand. (B)</p> Signup and view all the answers

<p>Global brands can have significantly different market shares in different countries, despite having strong brand recognition and a consistent marketing strategy. (C)</p> Signup and view all the answers

<p>While the analysis suggests a correlation between brand size and awareness, it does not establish a clear causal relationship between the two. (C)</p> Signup and view all the answers

<p>Mental and physical availability are crucial assets that underpin brand size and growth, enabling brands to reach and attract consumers effectively. (A)</p> Signup and view all the answers

<p>The comparison of global brands in different countries highlights the phenomenon of vastly different market shares despite strong brand recognition and consistent marketing strategies. (C)</p> Signup and view all the answers

<p>Approximately one in ten (D)</p> Signup and view all the answers

<p>There is no clear relationship (D)</p> Signup and view all the answers

<p>Kantar's BrandZ (A)</p> Signup and view all the answers

<p>They have slightly higher loyalty (D)</p> Signup and view all the answers

<p>They show similarities across brands (B)</p> Signup and view all the answers

<p>Slightly higher, but not significant (A)</p> Signup and view all the answers

<p>Improved loyalty (A)</p> Signup and view all the answers

<p>Many customers do not uniquely associate brands (C)</p> Signup and view all the answers

<p>Higher market share is associated with a larger customer base. (B)</p> Signup and view all the answers

<p>It helps potential buyers recall brands, thus increasing brand size. (A)</p> Signup and view all the answers

<p>To understand the variations in brand size within a competitive market. (C)</p> Signup and view all the answers

<p>Customer service ratings (D)</p> Signup and view all the answers

<p>In diverse contexts including consumer goods and private label brands (A)</p> Signup and view all the answers

<p>YouGov dataset on advertising awareness (A)</p> Signup and view all the answers

<p>They tend to choose familiar brands they are aware of when they begin purchasing. (C)</p> Signup and view all the answers

<p>Mental and physical availability (A)</p> Signup and view all the answers

<p>Brand local manufacturing preferences (C)</p> Signup and view all the answers

<p>Reductions and eventual shutdown (B)</p> Signup and view all the answers

<p>Existence of compelling evidence contradicting the theory (A)</p> Signup and view all the answers

<p>Abandonment of local rivals by GM and Ford (D)</p> Signup and view all the answers

<p>Experiments must align with theory for it to be valid. (B)</p> Signup and view all the answers

<p>Competition remains strong even with large players leaving the market. (B)</p> Signup and view all the answers

<p>Hyundai and Volkswagen (A)</p> Signup and view all the answers

<p>It encourages the integration of more diverse marketing theories. (B)</p> Signup and view all the answers

A strategic framework for targeting market segments by analyzing consumer needs and positioning brands.

A tactical marketing mix model consisting of Product, Price, Place, and Promotion.

A statistical distribution used to model buyer frequency and brand purchase behavior.

The concept that brands share customers with competitors, and this sharing declines with brand size.

The percent of buyers of one brand (X) who also buy another brand (Y).

A constant in the Duplication of Purchase Law representing the degree of customer sharing between brands.

The percentage of the target market that has purchased a specific brand.

The rivalry among brands to attract customers in the same category.

A customer's commitment to repurchase or continue using a brand.

The percentage of an industry's sales that a particular company controls.

Customers' overall contentment with a brand's products or services.

The process of distinguishing a brand from its competitors.

Bigger brands generally have slightly more customer loyalty.

Customers’ willingness to recommend or support a brand.

The average number of products customers have with a brand.

Research metrics that reflect customer perceptions of a brand.

A theory explaining brand size variation based on market dynamics and consumer awareness.

The increase in the number of customers that a brand attracts.

The extent to which consumers recognize a brand within a market.

The level of consumer recognition regarding specific advertisements for a brand.

Differences in brand size and performance among various retailers.

Differences in how frequently consumers use different brands within the same category.

The accessibility of a brand both in stores (physical) and in consumer minds (mental).

Variations in brand ownership across different countries or regions.

Challenges in the STP theory regarding brand performance in different markets.

Factors influencing buyers' choices based on personal or local biases.

Changes in Toyota's manufacturing operations affecting its market share.

Elements beyond local production affecting brand market shares.

The effect of major brands leaving a market on competitors' performance.

The performance of brands like Hyundai and Volkswagen amidst competition.

The ongoing challenge of backing market theories with compelling data.

Monzo achieved 9% market penetration by 2022 through customer acquisition across various banks.

Patterns where customers switch brands; in this case, some banks lost customers to others.

Customers banking with multiple institutions, not just sticking to one brand.

The tendency of customers to stick with one brand, which is rare in reality.

A phenomenon where consumers are loyal to multiple brands at the same time.

A statement that clearly outlines why a customer should choose a brand over its competitors.

The ease with which a brand comes to mind when a consumer thinks of a product category.

Restaurants that serve fast food and emphasize speed and efficiency in service.

Differences in brand size and awareness across different markets or regions.

Categories of people based on their buying behavior, such as current, former, and non-customers.

The reasoning behind why some brands dominate in certain markets due to mental availability.