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Marketing (Subject) / Branding and Brand Management (Lesson)
- Representation and Attention (consumer decision-making framework): top-down control - depends on goals, internal stakes and external stakes Example: goal of getting a drink because we are thirsty: we pay more attention to drinks than to other items internal stake: I want a coke --> I pay more attention to the visual input of the color red
- Representation and Attention (consumer decision-making framework): Visual Selection - attention is given to a particular location in space (most important information is chosen) Example: if a consumer is exposed longer to one choice option than to another, he decides to take the option he was exposed to for a longer period of time
- Consumer decision-making framework Stage 2: Predicted Value = consumers belief about the experienced value of that brand at some point in the future - evaluation of how much enjoyment he or she will derive from consuming a certain product - uniqueness, type and favorableness of brand assocations can modify the neural signatures of predicted value
- Consumer decision-making framework Stage 2: Experienced Value - based on the pleasure derived from experiencing a brand - consists of the valence (Wertigkeit) and intensity of the consumption experience
- Consumer decision-making framework Stage 2: Remembered Value and Learning - the consumer's memory of previous exposure to a brand is an important predictor of choice - brands can associate themselves to experiences influencing retrieval recognition - remembered value refers to how different brand associations are encoded, consolidated and retrevied in the consumer's memory --> consists of explicit and implicit memory of prior consumption
- Potential of the application of neuroscience to the psychology of branding - it is a new tool to observe mental processes without asking consumers directly (provides access to otherwise hidden information) - neuroscience is a source of theory generation: it complements tradition theories from psychology marketing and economics
- The Application of Neuroscience to Marketing: Why and in which fields/ contexts is it benefitial? - combining marketing statistical models with neuroscience data makes it possible to predict behavior - and to understand the psychology underlying consumer choices Fields: 1. Preference Measures:Neursosciene can identify brain regions that encode measures of individual value such as the willingness to pay. 2. Context Dependencies:Neuroscience attempts to understand how choice processes are modulated by contextual changes 3. Individual Preferences:Neuroscience can understand individual differences thus understanding when different individuals employ different choice strateges
- How do consumers relate to their favorite brand? - can be explained through motivational-emotional aspects associated with close brand-relationships - and can be explained through the social-psychological self-expansion theory
- Qualitative Research Techniques Examples Free associations Zaltman metaphor elicitation technique (ZMET) Brand personality and value projective techniques Neural Research Methods Ethnographic and experiential methods
- Comparative Methods as a source to measure outcomes of brand equity: Two types = studies or experiments that examine consumer attitudes and behaviour towards a brand Goal: directly estimate the benefits arising from having a high level of awareness Two types of comparative methods: 1. Brand-based comparative approaches one group of consumers responds to an element of the marketing program/ marketing activity when it is attributed to the target brand, another group responds to the same marketing element when it is attributed to a competitive of fictious brand. 2. Marketing-based comparative approaches consuemrs respond to changes in elements of the marketing program for the target brand or competitive brands
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