Brand Management Week 5

Study Notes

Direct channels involve selling products directly to consumers without intermediaries, ensuring better control over pricing and customer experience.
Omnichannel integration aims to create a unified experience across various customer touchpoints, enhancing convenience and engagement with the brand.

Experiential marketing focuses on creating memorable experiences that engage customers emotionally, fostering deeper brand connections.
Celebrity endorsement can lead to credibility issues; if the celebrity faces controversy, it may adversely affect the brand's image and trustworthiness.

A brand audit project evaluates brand performance, perception, and competitive position to identify strengths and weaknesses for strategic adjustments.
Brand positioning is centered on how a brand is perceived in comparison to competitors, influencing consumer choice and loyalty.

Components of brand knowledge include brand awareness, brand associations, perceived quality, and brand loyalty; understanding these aids effective positioning.
Point-of-parity (PoP) associations establish an acceptable standard that a brand must meet to be considered a viable choice within the category.
Point-of-difference (PoD) associations highlight unique attributes of a brand that differentiate it from competitors, attracting target consumers.

Aftermarketing extends customer engagement post-purchase, encouraging repeat purchases and fostering long-term brand loyalty.
Mass customization allows consumers to tailor products to their preferences, enhancing satisfaction and brand connection with personalized offerings.

Considerations for assessing co-branding opportunities include brand compatibility, shared values, and potential consumer perceptions—understanding these can drive successful partnerships.
The placebo effect in pricing strategies refers to the influence of perceived value on consumer behavior, demonstrating how pricing can affect psychological responses to products.

The main objective of marketing programs is to effectively communicate and reinforce brand positioning, ensuring that consumers understand and recognize the value offered by the brand.