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Questions and Answers

What is the capital of France? (example question)

  • Paris (correct)
  • London
  • Berlin
  • Madrid

Flashcards

Brand recognition vs recall

recognition = recognising a brand (with brand elements) recall = naming a brand when you ask about something (without brand elements) e.g. old money brand - RL

Brand equity

value that a brand adds to a product or service

why are brands important for consumer needs and wants? (two things)

  1. reduces search cost
  2. bring emotional value

descriptive logos are best for? not good for?

less known brands not good for negatively perceived brands

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3 logo elements

typeface shape colors

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other logo elements (4)

presentation elements animation digital considerations sonic logos

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inferential statistics

drawing inferences from a sample about a wider population

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descriptive statistics

describing features of a dataset in statistical terms

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nominal variable + example

categories without specific order e.g. gender or brands

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ordinal variable

categories with order but no consistent differences e.g. ranks in race

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interval variable

numeric scales with equal intervals but no true zero points
e.g. temp in celsius

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Brand identity vs brand image

Identify = brand positioning Image = consumer perception of brand

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identity prism physique

tangible physical aspects of a brand e.g. packaging logo design colours

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identity prism Personality

character of the brand tone, style e.g. communication style=humor

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identity prism culture

values beliefs e.g. origin story, mission, inspiration

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identity prism relationship

brand customer relationship e.g. interaction, promises, bond, support and service

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identity prism reflection

target audience, their characteristics, aspirations and needs

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identity prism self-image

how the customer perceives themselves when they use the brand

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simple random sample

everyone in population has same chance of getting picked

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stratified sampling

divides population into subgroups before random sampling

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snowball samples

current participants recruit further participants

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convenience sampling + issues

selection based on availability to the researcher issues = non representation of subpopulations and self selection

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you are WEIRD

western, educated, industrialised, rich, democratic

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CLT

distribution of sample means approx. a normal distribution as sample size increases (30 to hold at least)

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Modern consumer decision journey stages

initial consideration active evaluation or loyalty loop moment of purchase post purchase experience

emphasis on loyalty and advocacy and ongoing engagement

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traditional marketing funnel stages

awareness consideration purchase (neglects post purchase, emphasis on costumer acquisition)

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challenges IMC

managing diverse consumer touchpoints aligning internal teams

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solutions IMC challenges

use data analytics develop cross-functional teams maintain a clear brand identity

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market mavens

(recieve) first receivers of VM that share the message with their network

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Social Hubs

(distribute) highly connected, spread message VM broadly

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sales person

(amplify) persuasive communicator, make VM message compelling

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influencer marketing - number of followers

  • 9.2%
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influencer marketing - posting frequency

goldilocks effect at five posts per week

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influencer marketing - follower brand fit

goldilocks effect at 9% overlap of interest

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influencer marketing - originality

+15.5%

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influencer marketing - post positivity

goldilocks effect

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influencer marketing - links to brand

+11.4%

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influencer marketing - announcing a new product

-30.5%

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1% increase in IM spend leads to

0.46% rise in engagement

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proper resource allocation could improve engagement by ...

up to 16.6%

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social capital theory OIM three parts

structural capital (network reach and information diffusion) relational capital (trust built through personal relationship with followers) cognitive capital (shared meanings and identity between influencer and followers)

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diminishing sensitivity

first 100 are better than additional 100

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why does reliability matter

multi item scales increase precision in measurement provides consistent measurement sombre confident results

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Chronbachs alpha

for more than two items <0.7

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two items reliability measure

pearsons correlation

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