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Brand Aversion
Brand aversion is an antonym of brand loyalty. It is a distrust or a dislike of products from a particular brand on the basis of past experiences with that brand and its products, similar to taste aversion. Brand aversion, also called brand hate, can lead to brand avoidance, but it is not the same. Both with brand aversion and brand avoidance the feelings towards the brand are negative. Only the difference is that the strength of those negative feelings/relationship towards the brand are weak with brand avoidance and strong with brand aversion. Moreover, experiencing brand aversion is more intense and stronger than experiencing brand dislike. Brand aversion can be the effect of obtrusive marketing strategies, bad press, a mass product recall, or other poor product launches. Also extrinsic factors like the price of a product, the availability, and a salespersons' recommendations are likely to influence a consumers' brand aversion. Before even interacting with a brand, consumers will a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Loyalty
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit with its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model. Marketing Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or continue to use the brand. Consumers can demonstrate brand loyalty by repeatedly buying a product, service, or by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from Generic brand, generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taste Aversion
Conditioned taste aversion occurs when an animal acquires an aversion to the taste of a food that was paired with aversive stimuli. The Garcia effect is that the aversion develops more strongly for stimuli that cause nausea than other stimuli. This is considered an adaptive trait or survival mechanism that enables the organism to avoid poisonous substances (e.g., poisonous berries) before they cause harm. The aversion reduces consuming the same substance (or something that tastes similar) in the future, thus avoiding poisoning. Studies on conditioned taste aversion that involved irradiating rats were conducted in the 1950s by Dr. John Garcia, leading to it sometimes being called the Garcia effect. Conditioned taste aversion can occur when sickness is merely coincidental to, and not caused by, the substance consumed. For example, a person who becomes very sick after consuming vodka-and-orange-juice cocktails may then become averse to the taste of orange juice, even though the si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency (such as the Agricultural Marketing Servic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Recall
A product recall is a request from a manufacturer to return a product after the discovery of safety issues or product defects that might endanger the consumer or put the maker/seller at risk of legal action. The recall is an effort to limit ruination of the corporate image and limit liability for corporate negligence, which can cause significant legal costs. It can be difficult, if not impossible, to determine how costly can be releasing to the consumer a product that could endanger someone's life and the economic loss resulting from unwanted publicity. Recalls are costly. Costs include having to handle the recalled product, replacing it and possibly being held financially responsible for the consequences of the recalled product. A country's consumer protection laws will have specific requirements in regard to product recalls. Such regulations may include how much of the cost the maker will have to bear, situations in which a recall is compulsory (usually because the risk is b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Launch
In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market. The product can be tangible (something physical which one can touch) or intangible (like a service or experience), though sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that driv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Architecture
In the field of brand management, brand architecture is the structure of brands within an organizational entity. It is the way brands within a company's portfolio are related to, and differentiated from, one another. According to J.-N. Kapferer, the brand architecture should define the different leagues of branding within the organization; how the corporate brand and sub-brands relate to and support each other; and how the sub-brands reflect or reinforce the core purpose of the corporate brand they belong to. Often, decisions about brand architecture are concerned with how to manage a parent brand and a family of sub-brands – managing brand architecture to maximize shareholder value can include using brand-valuation model techniques. One may regard the designing of a brand architecture as an integrated process of brand building through establishing brand relationships among branding options in the competitive environment. The brand architecture of an organization at any time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Equity
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands. In the research literature, brand equity has been studied from two different perspectives: cognitive psychology and information economics. According to cognitive psychology, brand equity lies in consumer's awareness of brand features and associations, which drive attribute perceptions. According to information economics, a strong brand name works as a credible signal of product quality for imperfectly informed buyers and generates price premiums as a form of Return on brand, return to branding investments. It has been empirically demonstrated that brand equity plays an important role in the determination of price structure and, in particular, firms are able to charge pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Management
In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is perceived as planned and secures its objectives. Developing a good relationship with target markets is essential for brand management. Tangible elements of brand management include the product itself; its look, price, and packaging, etc. The intangible elements are the experiences that the target markets share with the brand, and also the relationships they have with the brand. A brand manager would oversee all aspects of the consumer's brand association as well as relationships with members of the supply chain. Definitions In 2001, Hislop defined branding as "the process of creating a relationship or a connection between a company's product and emotional perception of the customer for the purpose of generating segregation among competiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Engagement
Customer engagement is an interaction between an external consumer/customer (either B2C or B2B) and an organization (company or brand) through various online or offline channels. According to Hollebeek, Srivastava and Chen's (2019, p. 166) S-D logic-Definition of customer engagement is "a customer’s motivationally driven, volitional investment of operant resources (including cognitive, emotional, behavioral, and social knowledge and skills), and operand resources (e.g., equipment) into brand interactions," which applies to online and offline engagement. Online customer engagement is qualitatively different from offline engagement as the nature of the customer's interactions with a brand, company and other customers differ on the internet. Discussion forums or blogs, for example, are spaces where people can communicate and socialise in ways that cannot be replicated by any offline interactive medium. Online customer engagement is a social phenomenon that became mainstream with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employer Branding
Employer brand is branding and marketing the entirety of the employment experience. It describes an employer's reputation as a place to work, and their employee value proposition, as opposed to the more general corporate brand reputation and value proposition to customers.Barrow, S. and Mosley, R. ''The Employer Brand, Bringing the Best of Brand Management to People at Work'', John Wiley & Sons, Chichester.Mosley, R. (2015) Harvard Business Review. The term was first used in the early 1990s, and has since become widely adopted by the global management community.Minchington, B (2010) Employer Brand Leadership – A Global Perspective, Collective Learning Australia. Minchington describes employer brand as "the image of your organization as a 'great place to work' in the mind of current employees and key stakeholders in the external market (active and passive candidates, clients, customers and other key stakeholders). The art and science of employer branding is therefore concerned with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Evangelism Marketing
Evangelism marketing is an advanced form of word-of-mouth marketing in which companies develop customers who believe so strongly in a particular product or service that they freely try to convince others to buy and use it. The customers become voluntary advocates, actively spreading the word on behalf of the company. Evangelism marketing is sometimes confused with affiliate marketing. However, while affiliate programs provide incentives in the form of money or products, evangelist customers spread their recommendations and recruit new customers out of pure belief, not for the receipt of goods or money. Rather, the goal of the customer evangelist is simply to provide benefit to other individuals. As they act independently, evangelist customers often become key influencers. The fact that evangelists are not paid or associated with any company make their beliefs perceived by others as credible and trustworthy. Evangelism comes from the three words of 'bringing good news', and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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