MKT 828 Lecture Notes - Lecture 4: Brand Equity, Target Market, Customer Relationship Management
Document Summary
Introduction to promotional strategy: why, exactly, do we promote, how does promotion work, strengths and weaknesses. Increase sales: build brand equity, change your target market"s behavior, become the product/service that is actually purchased by your target market, communicate and reinforce your brand"s message, personality, image, quality etc. Promos: advertising, personal selling, publicity, sales promotion. Humza: action, target market actively purchases your product/service. Goals of promotion the aida model: attention (increase) Interest (attract: desire (arouse, action (initiate) P people, publicity, price planning and passion. R relevant, reward, risk, research and reaction. I innovative, initiate, incite, idea, and imagination. Source credibility (sender: the sender of the message is trustworthy; an expert. Alignment between image of endorser and image of product/service: better alignment is typically more effective. Message (encoding message: type of appeal: positive, negative, emotional, rational, comparative, etc, slogans, logos, tag lines, image, aesthetic, etc.
