The marketing world is awash with myths, misconceptions, dubious metrics and tactics that bear little relation to our actual buying behaviour. Not long ago, wearing real fur was a signal of wealth and status. Thanks to luxury rental and resale services, these days anyone can walk around in a Gucci belt. But not everyone knows that Rimowa dropped a new suitcase or who made.
In this call-to-arms for marketers struggling to hit their growth targets, brand licensing expert Pete Canalichio explores what needs to be done to consistently and sustainably convert consumer interest into passion, into must-have, and into must-have-more.
Create breakthrough marketing campaigns that achieve staggering consumer response rates by harnessing the power of R. Sidestep the other marketing. Dominic Twose was Global Head of Knowledge Management at Millward Brown the world's foremost brand and advertising research consultant for 15 years.
During this time he had access to the world's largest brand and advertising databases and hundreds of case studies from around the world. This book draws together all the. Buy the pack to save and take a journey to smarter, evidence-based marketing. How Brands Grow provides evidence-based answers to the key questions asked by marketers every day.
Home How Brands Grow. How Brands Grow. How Brands Grow by Byron Sharp. Brands that are built to inspire as well as profit. Written by experienced marketers and backed by extensive research, Brand Intimacy rewrites the rulebook on how to establish and expand your marketing. The book is equal parts theory, research and practice, the result of 7 year journey and a new marketing paradigm for the modern marketer.
What s in a Brand? It shatters many myths but also reinforces certain paradigms. The Business of Choice helps you apply new scientific insights to make your brand or target behavior the easiest, most instinctive choice. Willcox explains why we humans often seem so irrational, how marketers can leverage the same evolutionary factors that helped humans prosper as a species, how to make decisions simpler for your consumers, and how to make them feel good about their choices, so they keep coming back for more!
We know how eager you are to learn practical workplace skills at university so that you are "job ready" following graduation. In marketing, one of the most practical things you can learn how to do is create a sound marketing plan.
This new book guides you concisely through the marketing planning process from start to finish, drawing on examples from large brands like Ikea and Krispy Kreme to digital start-ups like Starling Bank. Features a running case study about a small services business that breaks the marketing plan down into easy to digestible chunks.
A dedicated chapter on marketing strategy concepts to help you understand how they link to market, firm or decision-related factors. Self-test questions and scenarios with tasks throughout make for an active learning experience. Practical in its step-by-step approach and inclusion of activities and scenarios and written simply whilst still underpinned by marketing strategy scholarship, this book will help you to develop your marketing decision-making throughout by learning key skills such as how to do a SWOT analysis and how to budget and forecast correctly.
Suitable reading for marketing planning and marketing strategy courses. With an impressive list of contributing authors, How to Use Advertising to Build Strong Brands is a single "knowledge bank" of theory and practice for advertising students and professionals. Branding is one of the most important developments of the 20th century and is likely to be of key importance well into the 21st century.
Giles Lury sets the subject in its proper historical context, and looks at how brands develop, and how they get their names and characteristics. He demonstrates how a successful brand identity builds up, and identifies the key elements that make up a successful brand. This is the second edition of Brandwatching and includes three new chapters: 'How far has branding spread?
Brandwatching is a complete appraisal of branding as it stands today, as it has built up in the past and as it is likely to develop in the future. It is essential reading to marketing managers, students of marketing and anyone interested in the phenomenon of branding.
What is a brand? What are the origins of branding? Are there different types of branding? Why do we buy brands? What are brand managers and what do they do? How do brands get their names? What is brand personality and why does a brand need one? What are brand icons and what roles do they play? What is brand positioning and where does it fit into the marketing mix? Why do brands advertise? How do brands grow? What is a brand extension and why is it so popular?
Where do new brands come from? What makes a successful brand? What is the world's most valuable brand? Who owns which brands? What is brandographics? How far has branding spread? Is branding on the web really that different to other forms of branding? What does the future hold for branding? This is a completely rewritten and updated version of one of the true classic books in the field of marketing and advertising. What's in a Name? Advertising and the Concept of Brands analyzes brands from the point of view of modern marketing theory.
It deals in detail with the role of advertising in creating, building, and maintaining strong brands - the lifeblood of any long-term marketing campaign. The work is empirically based and is supported by the best research from both the professional and academic fields. The authors describe the birth and maturity of brands and dissect the patterns of consumer purchasing of repeat-purchase goods.
In addition to all new research findings and examples, this new edition of What's in a Name? Second, a month period is short enough fectors is logically related to brand size in a stationary market, while to divide the available data into multiple periods for analysis. Third, a Wright and Riebe demonstrate this effect empirically.
Finally, a month These natural patterns of customer turnover in a stationary market time period provides a natural control for any seasonal effects. Ignoring these effects when modeling brand withdrew from the market in the period under analysis. Models of acquisition or defection must therefore incorporate zero, as the benchmarks have empirical bounds at zero share, zero de- turnover in the customer base under stationary market conditions.
Thus, the analysis method embeds lags. Any subsequent nal, deterministic, decisions, unsuitable for stochastic modeling.
Treating these deviations as dynamic explains the actual therefore satisfy the stochastic assumptions of the Hendry model. Such as-if random observation of deterministic behavior is analo- Market acquisition and defection do not necessarily match; for ex- gous to many other forms of consumer choice.
The monitor is a large quarterly face-to-face market expanded in banking, acquisitions outweigh defections. The separately from market acquisition.
For The annual sample size is approximately 10, If tenure is less than 12 months, the respondent is a defector sary. Instead, the analysis infers previous period market share from from their previous main bank and an acquired customer for their new current share, adjusting for defections and acquisitions for both the main bank.
This procedure eliminates sampling rather than a behavioral measure. Using a self-reported measure is error from the estimates by using the same respondents for each pair of slightly different from the approach used in the anti-depressant data, periods in the analysis.
These regressions are simply a summary of observations rather drug dataset. Again, some minor data issues arise: two brands are sub- than a time-series analysis; however, the benchmarks already include a ject to takeovers early in the data set, and a new brand is introduced time-series element as they involve one-year lags. Aggregating the acquired brands into the parent for reporting is analogous to a lagged stochastic regression.
Application of benchmarks unusual defection and acquisition are transient or persistent. A further com- sure of the level of loyalty found in this category. They i model marketing elasticities for different forms of customer contact and simulate the optimal balances between retention and acquisition where efforts. However, Reinartz et al. Given the paucity of pi the defection rate for Brand i.
Results PI main at stable benchmark levels over time is easily calculated as , d Results for this study fall into two areas. Second, simulation shows that: i while changes in defection the elements due to retention and acquisition is necessary. These results are now described in more detail. The individual value for each period t is: 3. These scatterplots show deviations from benchmark defection and acquisition against changes where in the brands' market shares.
The data consists of all year-to-year changes in share, whether up or down, in a given year. The inter- and defection higher than the benchmark highlight a loss of share. Taking the one-way gation bias and small sample variation. To avoid Either way, the results are clear. The analysis then alters the focal dynamic e. Note that Fig. Therefore, 1 and usual defection and unusual acquisition to changes in market share. De- 2 should be seen as providing inputs to 3 and 4. Observed values viations from defection benchmarks do play a role in explaining share are also used as inputs.
That Readers may wonder: why are Adjusted R2 values so high? The ability of the analysis to reveal the expected logical acquisition. The brand. Change in share vs deviation from acquisition and defection benchmarks. Different analytical decisions do deliver different results. If previous year survey results are used for banks, thereby introducing sampling 3.
Likely return on investment outcomes from unusual acquisition and error, the Adjusted R2 declines considerably, although the pattern of retention results remains the same. The short answer is yes. The result customers, whereas increased acquisition has no corresponding effect turns out to show that unusual acquisition is roughly twice as important on the value of existing customers.
The size of this effect is small, and as unusual defection when explaining changes in the customer base. The result is simply an empirical regularity, which To illustrate this, consider pharmaceutical prescribing.
However, more ability based on panel data observations. Both the absolute value and surprising is the observation of the same principle for declining brands, the variance of these effect sizes can be examined. This is anal- Table 1 ogous to integrating the areas under the curve, but applies just to Regression results for pharmaceutical drugs.
Excluding Others The vari- 5. Summary ance for acquisition is The ratio of Reducing customer defection is often suggested as the key to growing the variance of one variable to total variance is analogous to an R2.
The a successful brand. Yet, as a brand normally only loses a small fraction of ratio does not include unexplained variance, but the results of Tables 1 its customers each year, the growth that can be achieved from reducing and 2 suggest that unexplained variance is small. In any event, consider- defection is limited.
The results of this study further due to unusual acquisition and 4. So, for this data, acquisition is associated with much greater brand growth is more complex than previously proposed. These benchmarks are ceutical prescribing. The size of ally low. Reichheld's recommen- turn the general conclusion. Nonetheless, given the strict Such initiatives are well within the capabilities of existing Customer Re- assumptions in the simulation, stating that the ratios or percentages it lationship Management systems.
Rather, a more reasonable increase the emphasis on customer acquisition and prospect manage- approach is to interpret these results as simply showing that the relative ment, and avoid the temptation to over-emphasize customer retention.
References 4. Implications Anschuetz, N. Why a brand's most valuable customer is the next one it adds. Journal of Advertising Research, 42 1 , 15— Baldinger, A. Why brands grow. As acqui- Bass, F. The theory of stochastic preference and brand switching. Journal of Marketing Research, 11 February , 1— Customer equity: Building and managing does, presenting defection metrics alone is to present less than half the relationships as valuable assets.
Harvard Business School Press. Both acquisition and retention should be closely monitored, keep- Blumenthal, D. Doctors and drug companies.
The New England Journal of Medicine, 18 , — A corollary is that Customer Relationship Manage- cial service. Journal of Business Research, 62 3 , —
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