Saturday, April 4, 2020

Evian vs. S.Pellegrino

If you drink EVIAN you could be young better!
You feel better due to consumption of this specific mineral water.
Η τέχνη να ζεις σαν Ιταλός;
Focus on lifestyle.
The idea is share the Italian style with all other consumers. Symbolical!
Taste, Convenience, Energy, Availability & Healthiness are functional bennefits.

One good example we can use is the mineral water business. Mineral water like any other product category can provide consumers with very different benefits: functional, symbolical, experiential, and psychological.
For example, a mineral water which is focused on some specific features of the product can provide a lot of functional benefits.
For example, it can be used for a specific diet, and it can be considered light and/or healthy.
On the other side, there are other mineral waters that provide consumers with other benefits that are more symbolical.
Let me give you an example,
There are two different brands: Evian which is part of the Danone group and San Pellegrino which is part of the Nestlé group. If you look at the ad by Evian...
The ad is very focused on the health aspect. Basically, if you drink Evian you can stay younger forever. This is obviously put as an extreme. It’s very function, I mean you feel better, because your health would be benefit by the consumption of this kind of mineral water.
If you look at the ad by San Pellegrino... The ad is very focused on lifestyle.
The idea is seeing San Pellegrino as one one of the most famous Italian brands. The idea is to “live in Italia,” that is share the Italian lifestyle with all other consumers. It’s much more symbolical. It has nothing to do with function benefits. 
As you see we have two very different classes of benefits: one is the benefits connected to the functional aspects of the products and the service; and the second one is the big area of symbolical and experiential benefits.

Basic Glossary

GLOSSARY of TERMS: A QUICK GUIDE of the BASICS


Brand: A set of mental associations, held by a consumer, which add to the perceived value of a product or service

Brand assets: Assets a brand can attain based on market leadership, awareness, brand relevance, reputation of quality, and brand loyalty

Brand awareness: The extent to which a brand is recognized by consumers

Brand Elements: The visual elements that distinguish the brand from competitors’ ones

Brand Equity: The extra value that the brand adds to the product when a customer knows the brand

Brand Familiarity: The easy recognition of a well-known brand

Brand Image: The judgment that consumers have towards the brand

Cannibalization: A decrease in sales or market shares of one product as a result of the launch of a new product by the same company

Channel System: A particular combination of distribution and sales channels

Competitive Advantage: Something about an organization and its product that is perceived as being better than rival offerings, it is sustainable overtime and can be translated into a benefit that is important to target customers

Competitor: A company in the same  or similar industry which offers a similar product or service

Connoisseur:  A person with expert knowledge or training about a specific product

Consumer Behaviour: The totality of consumers’ decisions with respect to the acquisition, consumption, and disposition of goods, services, time, and ideas by human decision-making units (overtime)

Consumer: A person that actually consumes the product, consumer and customer may or may not coincide

Customer Experience: A combination of emotional, sensorial, and cognitive experiences that encompasses all the phases connected to a new product and/or service purchase

Customer Value: Composed by the set of benefits that the organization’s offering can provide and the set of sacrifices that a customer has to make in order to enjoy the benefits provided by the organization’s offering

Customer: A person who buys the product, consumer and customer may or may not coincide

Distribution: The processes involved in moving goods from the supplier to the customer or user

Evoked Set: The shortlist of products that a purchaser will make the final choice from

Goods: Tangible products

Innovators: The very first few percentages of customers that adopt a new product or technology

Laggards: The last small part of customers to adopt a new product or technology

Market Lifecycle: Relates to different stages in the life of a market based on a time unit (weeks, months, or more often years) and the supply-demand dynamic (i.e. sales), the latter can be expressed with product units or values

Market Potential: The maximum market demand that should occur when all potential customers have entered a market

Market Share: The percentage of current market demand obtained by a business

Market: Consists of a set of actors who interact to exchange goods, services, reputation, and information; the activities that form the basis for this interaction, and additional actors who exert their influence

Marketing Mix: The combination of the 4 Ps: usually product, promotion, place, and price designed for a specific target market

Means-End Theory: A technique that can help explain how values link to attributes in products and services

Multichannel Distribution: The use of different types of channels to reach the same target market

Niche market: A market segment that can be treated as a target market; a small well defined market, often part of a larger market

Portfolio: All of a company or strategic business unit’s products
Positioning: Where your product stands in respect to others offering similar products in the mind of consumers

Price Signal: A message sent to customers in the form of a price

Product Category: A product category is all the products offering the same general functionality

Segment Positioning: The product-price position and value proposition developed specifically for customers in a given market segment

Target Market: A group of buyers and/or consumers who share common needs and/or wants or characteristics and who the organization focuses on

Thursday, April 2, 2020

Brand Experience (notes.2)

Brand Management: Aligning Business, Brand and Behaviour

Experience = the perceptions of an event, episode or encounter that leave an impression. Brand Image is the 'register' of such impressions.
What we do, rather than we have. Things we done and not own. Bucket list! Use experiences as a way to build a brand and prevent experiences that might destroy a brand.
Satisfaction = expectation - experience. Advertising raises the expectation. Experience = reality.
Switch Marketing to building the experience.

great brand-driven customer experiences:

Declare what your brand will stand for. When you choose very purposeful words like leading, globally, relevant, luxury and British, you have, in effect, chosen the hallmarks of what your experience has to deliver upon.

Choose a target wisely. More often than not Millennials are the influencers, tastemakers, official critics and reviewers in society today. They also happen to be incredibly brand loyal as a collective whole, with an increasingly attractive level of disposable income.

Design an experience that delivers your brand promise to the target audience. Once the first two objectives were in order, developing an experience became directionally straightforward. It’s not a simply a matter of fixing broken links in the customer journey, it is about understanding the customers’ needs and motivations and designing an experience that best meets that need.

Create a branded experience, branded signature touchpoints and the organizational alignment to empower employees to bring the brand to life in unique and surprising ways.

Continue to innovate the experience and the brand.

Experience = the perceptions of an event, episode or encounter that leave an impression. Brand Image is the 'register' of such impressions.
What we do, rather than we have. Things we done and not own. Bucket list! Use experiences as a way to build a brand and prevent experiences that might destroy a brand.
Satisfaction = expectation - experience. Advertising raises the expectation. Experience = reality.
Switch Marketing to building the experience.

Digital Brand Experiences:
no humans / instant price comparison
lower cost because of no human interaction (efficiency)
Nespresso - member club experience / the digital transformation enhance the brand experience (what they want to communicate - brand promise)
Capabilities of internet... no time zone, my store! challenges for managing globally although each market has different aspects = consistent way / personalisation (ex. Spotify)

Digital branding is a brand management technique that uses a combination of internet branding and digital marketing;online marketing to develop a brand over a range of digital venues, including internet-based relationships, device-based applications or media content.
The Trade-off Between Richness and Reach in Advertising (Adapted ...
Reach is simple–it is just the number of people that can participate in the sharing of the information in question. The concept of the trade-off between richness and reach is that before the world of e-commerce, it was hard to share rich information with a lot of people–that is, achieve reach.

Revisiting marketing in the digital age
Brand Experience - Differentiate the Brand!
Differentiation traditional seen as the net value, brand's relevant PODs (points-of-difference) minus POIs (points-of-iteriority) as measured against competitors.
NESPRESSO MARKETING ANALYSIS 2014
Atrributes of the product /match-score/ Benefits for the consumer
Customer's Journey:
Janavi on Twitter: "Interesting roadmap of the consumer journey ...

The five key steps towards understanding the customer journey (and ...
Enhance the Brand Purpose
Mahmoud Shteiwey on Twitter: "The 7 Steps of Brand Experience ...
customers: learning, navigating (through internet), buying, trying, using, disposing (different events of the journey) "inging"
DO> delivering on the brand promise

Nudge is a concept in behavioral science, political theory and behavioral economics which proposes positive reinforcement and indirect suggestions as ways to influence the behavior and decision making of groups or individuals.

Make as smooth as possible the consumer's journey. Ask deeper and deeper and understand the most emotional state of consumer.
Level: Functional - Rational - Emotional
ex. Harley-Davidson = deliver holistic experience
Shift from the product = experience
Sales Funnel: Aware(learn)-Conside(choose)-Try(buy)-Adopt(repeat) /not the same as customer journey/ do not confuse
Map the customer journey, the key steps (decision...) moments that matter - deliver brand & experience.
What marketing executives should know about user experience
User experience is critical tied to the product/service.
Experience design:
1.Map the key steps of different customer journeys.
2.From a customer experience perspective, evaluate. (+,-,=)
(find the meaningful moments that matter-create brand experience, digging deeper)
3.What can do different to improve customer experience and/or deliver the brand.