Purpose-Driven Marketing Overview
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Questions and Answers

What is the primary reason for allocating space differently in ship design for different markets?

  • To simplify the building process
  • To enhance customer experience based on regional preferences (correct)
  • To reduce construction costs
  • To comply with international regulations

    • What does the ‘net promoter score’ assess in a business?

  • Customer loyalty and likelihood of recommendation (correct)
  • The market share of the brand
  • The sales growth of the company
  • The brand awareness among new customers

    • Which of the following is NOT a potential customer-related benefit of positive brand equity?

  • Higher profit margins
  • More effective communications
  • Decreased customer loyalty (correct)
  • Better access to channels

    • In Aaker's model of brand equity, which aspect is NOT included?

    <p>Customer satisfaction</p> Signup and view all the answers

    Why is it important for companies to convert land holidays into cruise holidays according to the text?

    <p>To increase sales against broad competition</p> Signup and view all the answers

    What is an example of a customer-related benefit from higher brand equity?

    <p>Ability to license or franchise</p> Signup and view all the answers

    What aspect of customer loyalty is highlighted by Royal Caribbean’s mentioned statistic?

    <p>High likelihood for customers to recommend the brand</p> Signup and view all the answers

    Keller’s brand equity pyramid concept mainly focuses on which aspect of brand building?

    <p>The evolution of brand perceptions over time</p> Signup and view all the answers

    How does the internal culture of a company affect its external branding?

    <p>It influences how the company presents itself to the public.</p> Signup and view all the answers

    What role do brands play in shaping culture?

    <p>Brands create ideas and shape opinions that affect culture.</p> Signup and view all the answers

    What is a key factor in how brands succeed according to the provided content?

    <p>Providing emotional benefits that surpass functional benefits.</p> Signup and view all the answers

    Based on the self-brand connection, what determines consumers' brand choices?

    <p>A blend of their actual self and situational self.</p> Signup and view all the answers

    What transformation have customer expectations undergone regarding brands?

    <p>They have begun to demand added services and more value.</p> Signup and view all the answers

    In what way can brands use culture as a diagnostic tool?

    <p>To assess brand performance and identify improvement areas.</p> Signup and view all the answers

    According to the concept of self-brand connection, how can brands help shape self-identity?

    <p>By establishing a narrative that resonates with consumers' aspirations.</p> Signup and view all the answers

    Which of the following best describes the relationship between consumers and brands in terms of material possessions?

    <p>Consumers extend their sense of self through their material possessions.</p> Signup and view all the answers

    What distinguishes Facebook's data collection from traditional research?

    <p>The scale of data collection and sophistication of processing.</p> Signup and view all the answers

    How does Amazon promote its brand while addressing concerns from small retailers?

    <p>By showcasing satisfied customers receiving deliveries.</p> Signup and view all the answers

    What unique aspect does Magzter Gold offer to its subscribers?

    <p>Unlimited access to digital versions of top magazines.</p> Signup and view all the answers

    What type of products does Etsy specifically allow for sale on its platform?

    <p>Handcrafted items and craft supplies.</p> Signup and view all the answers

    Why is there increased concern regarding the misuse of data collected by companies like Facebook?

    <p>Aggregated data can reveal private information about individuals.</p> Signup and view all the answers

    What psychological advantage does Etsy claim to provide to its users?

    <p>The experience of being part of a creative community.</p> Signup and view all the answers

    Which of the following statements is true about e-commerce's current status?

    <p>It is in its early stages of predicted expansion.</p> Signup and view all the answers

    What is a key reason for the greater responsibility of companies like Facebook in data collection?

    <p>They have aggregated user data from various sources.</p> Signup and view all the answers

    What is a key result of companies having more power and wealth in society?

    <p>Greater demand for companies to demonstrate social responsibility</p> Signup and view all the answers

    What does the term 'purpose-driven' marketing imply?

    <p>Brands aligning profit pursuits with societal good</p> Signup and view all the answers

    What is the first question to consider before launching a brand?

    <p>Why does the brand exist?</p> Signup and view all the answers

    How is brand purpose typically expressed in modern brand management?

    <p>In broader societal terms to create positive associations</p> Signup and view all the answers

    What is often questioned regarding brands that promote a social purpose?

    <p>The authenticity of their claims</p> Signup and view all the answers

    Why might a brand struggle to appeal to customers?

    <p>If it lacks a clear idea of what it adds to a category</p> Signup and view all the answers

    What is a primary expectation of brands today?

    <p>Using their resources for projects with major societal impacts</p> Signup and view all the answers

    Which of the following best describes the concept of 'brand ethos'?

    <p>The values and purpose that drive a brand's activities</p> Signup and view all the answers

    What is the primary focus of ISO 10668:2010?

    <p>Framework for monetary valuation standards</p> Signup and view all the answers

    Which of the following components is NOT part of ISO 20671:2019?

    <p>Historical financial performance</p> Signup and view all the answers

    What does the term 'meta-standard' refer to in the context of brand evaluation?

    <p>A fundamental guideline for multiple evaluation criteria</p> Signup and view all the answers

    What is highlighted as a challenge in historically valuing brands?

    <p>Varied criteria used by ranking firms</p> Signup and view all the answers

    Which of the following is a necessary consideration when evaluating brand strength as per the ISO 20671:2019?

    <p>Legal factors</p> Signup and view all the answers

    What does the process of brand evaluation lead to, according to the provided information?

    <p>Continuous improvement</p> Signup and view all the answers

    Which aspect contributes to brand development according to the provided information?

    <p>Quality and service innovation</p> Signup and view all the answers

    In brand valuation, what is the purpose of establishing a framework as outlined in ISO 10668:2010?

    <p>To provide a consistent method for monetary assessment</p> Signup and view all the answers

    Study Notes

    Purpose-Driven Marketing

    • Societal awareness of corporate power has led to higher expectations for companies to enact change.
    • 'Purpose-driven' marketing aligns profit motives with societal goals, enhancing brand appeal.
    • Brands must define their existence and unique contribution to attract customers.
    • Strong brand purpose acts as the foundation for brand ethos, guiding design and activities.
    • Authenticity in purpose claims is debated; actions linked to the brand serve as proof.

    Brand Purpose: Case Study of SAP

    • SAP is a major player in business software, expressing its brand purpose prominently.
    • The company engages in projects with significant societal impact, showcasing its commitment beyond profits.
    • Brand culture influences external brand projection and remains relevant to contemporary issues.
    • Brands have the potential to shape culture and create lasting impressions on social history.

    Self-Brand Connection

    • Brands offer emotional benefits that surpass functional advantages, enhancing self-identity for consumers.
    • Notable theories include:
      • Belk (1988) on material possessions extending self-identity.
      • Kapferer's Prism linking actual, aspirational, and situational selves.
    • Evolving consumer expectations lead to desired value-added services beyond core offerings.
    • Metrics like 'net promoter score' indicate customer loyalty and satisfaction, essential for repeat business.

    Building Brand Equity

    • Brand equity encompasses customer-related benefits, differentiating positive brands in the marketplace.
    • Key benefits include enhanced loyalty, profit margins, effective communication, and market access.
    • Aaker’s model highlights awareness, associations, perceived quality, and loyalty as core components of brand equity.

    Online Data and Brand Responsibility

    • Modern brands, like Facebook, wield significant data, requiring heightened responsibility for data protection and ethical handling.
    • Online retailers, such as Amazon, leverage vast product selections and customer-centric marketing strategies to thrive.
    • Etsy emphasizes a community feel while promoting handmade products, countering mass-market concerns.

    Subscription Models and Market Growth

    • E-commerce is still in early stages, presenting opportunities for innovative market entrants like Magzter Gold.
    • Subscription models offer access to various digital content, addressing evolving consumer preferences.

    Historical Brand Evaluation Challenges

    • Variability in brand evaluation criteria has complicated historical brand valuation accuracy across international markets.
    • New global standards like ISO 10668:2010 and ISO 20671:2019 aim to standardize brand valuation methods.
    • ISO 10668 focuses on monetary valuation standards, while ISO 20671 provides comprehensive principles for brand evaluation.

    Dimensions of Brand Evaluation

    • Brand evaluation consists of inputs (quality, service, innovation) and outputs (strength, performance).
    • Effective evaluation relies on continuous improvement based on feedback loops between brand development, strength, and performance.

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    Related Documents

    Week 1 Introduction and brand in context PDF

    Description

    Explore the principles of purpose-driven marketing and its impact on brand appeal in today's corporate environment. Understand how societal expectations influence companies and the importance of authenticity in purpose claims. This quiz highlights the significance of aligning profit motives with social goals to enhance customer engagement.

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