MKTG1001 Lecture Notes - Lecture 7: Laundry Detergent, Apple Watch, Sodium Bicarbonate
27 Jul 2018
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Brand choice driven by emotional + rational thought price/quality = rational. Value driven models u(cid:374)i(cid:395)ue offe(cid:396)i(cid:374)gs e. g. (cid:862)(cid:272)hi(cid:272)ke(cid:374) o(cid:374) the (cid:271)o(cid:374)e(cid:863); (cid:272)a(cid:374)"t (cid:271)e matched by competitors (24 nuggets for 10 however matched by competitors) Unique offering can play around with price, but if matched by competitors, can wear out. Leveraging cricket to drive sales for sales overnight + brand over time partnership with cricket to reach people over summer, emotional connection: bucketheads; emotional genuine connection. Brand campaign does(cid:374)"t d(cid:396)ive (cid:396)etail (cid:373)essage. New-to-the-world products: inventions that create a whole new market/change lives and behaviour big impact (new television, phones, fax, birth control pill, internet) Risk huge up-front expense, may not gain market acceptance, major distrction. New-to-the-firm products (category extensions): products that take a firm into a category new to it (e. g. canon laser printer, apple watch) Risk unfamiliar market against established competition.
