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Summary Chapter 2 Integrated Advertising, Promotion and Marketing Communications with MyMarketingLab - Marketing Communication and Branding (MARCOB01)€5,48
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Summary Chapter 1 Integrated Advertising, Promotion and Marketing Communications with MyMarketingLab - Marketing Communication and Branding (MARCOB01)
Alles voor dit studieboek (2)
Geschreven voor
Hogeschool Arnhem en Nijmegen (HAN)
Bachelor of Communication
Marketing Communication and Branding (MARCOB01)
Alle documenten voor dit vak (2)
Verkoper
Volgen
sidneysophie
Voorbeeld van de inhoud
Chapter 2: brand management
A brand is the word, term, or phrase featured as the name of a product, product line, or company.
Managing an organization’s brand image constitutes a critical element in the successful maintenance
of an integrated marketing communications plan. A corporation’s brand image reflects the feelings
consumers and businesses hold regarding the overall organization as well as its individual products or
product lines. Advertising, consumer promotions, trade promotions, personal selling, the company’s
website, and other marketing activities affect consumer perceptions.
The marketing team works to understand the firm’s overall image and the strengths of individual
product brands in order to establish solid connections with consumers and businesses-to-business
customers. A sturdy integrated marketing communications foundation combines an analysis of the
firm’s image and brands with assessments of consumer and business buyer behaviours.
When consumers consistently connect a product’s name with a specific meaning, concept, or idea,
the term brand association applies.
How does a brand’s image aff ect consumers, other businesses, and the company itself?
A corporate or brand image expresses what the company and its products stand for as well as how it
is to be known in the marketplace. Creating a specific impression in the minds of clients and
customers will be the goal of image management. Consumers beliefs about a firm are more
important than how company officials perceive the image.
Although the actual version of the image varies from consumer to consumer or for each business-to-
business buyer, the combined views of all publics determine the overall corporate image, which can
be positive or negative.
Brand images contain tangible and intangible elements. Consumers encounter these elements as they
interact with a company or brand.
Tangible elements: Intangible elements:
Goods or services sold. Corporate personnel.
Retail outlets where the product is sold. - ideals
Advertising. - beliefs
Marketing communications. - conduct
Name and logo. Environmental policies.
Package and labels. Corporate culture.
Employees. Country location
Media reports.
Negative publicity often stains or injures consumer perceptions of a corporation’s or brand’s image.
An image consist of a unique set of features. A corporation’s image includes consumer assessments of
company employees. A strong image provides tangible and intangible benefits. Organizational leaders
devote considerable time and energy to constructing and maintaining a favourable brand image.
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, From a consumer’s perspective (or business customer’s perspective), brand image serves several
functions:
Provides confidence regarding purchase decisions: a well-known brand provides customers
with assurance about what to expect, the product is the same, regardless of location.
Gives assurance about the purchase when the buyer has little or no previous experience:
positive assurance produces value. Consumers often believe that purchasing from a familiar
corporation will be a ‘’safer’’ option than buying something from an unknown company.
People choose the devil they know over the god they don’t know.
Reduces search time in a purchase decision: purchasing from a familiar firm reduces search
time and saves effort.
Provides psychological reinforcement and social acceptance of the purchase: psychological
reinforcement comes when a consumer concludes that they made a wise choice, resulting in
confidence that the good or service will perform well. Social acceptance comes from believing
that other individuals including family and friends who purchased the same brand will
approve of the choice.
From the firm’s perspective, a highly reputable image generates benefits:
Extension of positive customer feelings to new products: the introduction of a product
becomes easier when potential customers recognize the brand name and image. Long-term
patrons become more willing to try new items.
Ability to charge a higher price or fee: consumers often associate better quality with a higher
price. A solid brand image allows a company to charge more for goods and services, which
can lead to improved markup margins and profits. You ‘’get what you pay for’’.
Consumer loyalty leading to more frequent purchases: dedicated customers are less inclined
to make substitute purchases when competing brands offer discounts, sales, and similar
enticements.
Positive word-of-mouth endorsements: favourable comments generate additional sales and
attract new customers. Consumers and business buyers express more faith in personal
references than other forms of advertising or promotion.
Higher level of channel power: positive customer attitudes create stronger devotion to the
brand, which then generates greater channel power. A product or brand with a notable image
retains control and channel power when marketing items to retailers.
Ability to attract quality employees: potential workers apply for jobs at companies with solid
reputations, thereby reducing recruiting and selection costs. A high quality workforce
normally experiences lower turnover rates and other personnel problems.
More favourable ratings by financial observers and analysts: a strong reputation often leads
to favourable ratings by Wall Street analysts and others in financial institutions, which help a
company to raise capital when needed. Legislators and governmental agencies tend to act
more sympathetically toward companies with unblemished, laudable reputations.
A brand alliance, in which two companies use brand strength to develop and co-market a new
product featuring both names, has recently begun to emerge.
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