Lecture Marketing research (12th edition) - Chapter 24: Brand and customer metrics

Chapter 24 - Brand and customer metrics. In this chapter, the following content will be discussed: Competitive advantage, assessing competitive advantage, brand equity, measuring brand equity, customer satisfaction research,...

1 Marketing Research Aaker, Kumar,  Leone and Day  Twelfth Edition Instructor’s  Chapter Twenty­four Brand And Customer Metrics Marketing Research 12th Edition Competitive Advantage Michael Porter’s Five Forces Model Source: http://www.brs-inc.com/porter.asp Marketing Research 12th Edition Assessing Competitive Advantage Market­Based Assessment Market­based Process­based Market share Marketing skills audit Recall share Comparison of relative costs Advertising share Comparison of winning versus losing competitors R&D share Identifying high­leverage phenomena Marketing Research 12th Edition Assessing Competitive Advantage Process­Based Assessment Marketing Research 12th Edition Brand Equity • • Defined as a set of brand assets and liabilities linked to a  brand, that add to or subtract from the value of a product  or service to a company and/or its customers The Assets can be grouped as Brand Loyalty Name Awareness Perceived Quality Brand Associations in addition to perceived quality Other Proprietary Brand Assets: patents, trademarks, channel  relationships, etc Marketing Research 12th Edition Brand Equity (Contd.) Brand equity SOURCE: David A. Aaker, Managing Brand Equity. New York: The Free Press, 1994 Marketing Research 12th Edition Measuring Brand Equity Excess­Price Approach Observation Customer Research Trade­off Analysis Impact on Customer Evaluation Marketing Research 12th Edition Measuring Brand Equity (Contd.) 10 Replacement Cost Approach Stock Price Approach Future Earnings Approach Discounting the future profit stream Applying an earnings multiplier Marketing Research 12th Edition 10 Customer Satisfaction Research • • Customer satisfaction research should be done at planned  intervals so as to track satisfaction over time Measurement Process ▫ Define goals and specify how information will be used ▫ Discover what is important to customers and employees ▫ Measure critical needs ▫ Act on the information ▫ Measure performance over time Marketing Research 12th Edition 11 Contemporary Applications of Marketing  Intelligence What Is Buyer­Centricity? • • • • Provide services that help customers make informed decisions  on buying better and cheaper products more easily Help buyers to buy rather than help sellers to sell Help consumers maximize the efficiency, productivity, and  marketable value of personal assets as money, time,  information, attention and emotional commitment Present offerings relevant to the buyer’s unique individual  characteristics and that recognize what customers currently  seek to achieve Marketing Research 12th Edition 12 Who Gains from Buyer­Centricity? In contrast to popular perceptions, buyer­centricity aids not only  consumers but also sellers The advantages stem from a range of sources mentioned  below: • Growth Markets • Beyond Revenue Implications • Fewer Bucks for More Bang • Trust Marketing Research 12th Edition 13 Maximizing Customer Profitability Marketing Research 12th Edition 14 Maximizing Customer Profitability (Contd.) CLV maximization cycle is comprised of the following  steps: Customer Selection Managing Loyalty and  Profitability Simultaneously Optimal Allocation of  Resources Pitching the Right Product to  the Right Customer at the  Right Time Preventing Customer Attrition 10 Managing Multi­Level  Shoppers Linking Investment in Branding  to Customer Profitability Acquiring Profitable Customers Referral Marketing Strategy The Future of Customer  Management Marketing Research 12th Edition 15 End of Chapter Twenty­four Marketing Research 12th Edition ... relationships, etc Marketing Research 12th Edition Brand Equity (Contd.) Brand equity SOURCE: David A. Aaker, Managing Brand Equity. New York: The Free Press, 1994 Marketing Research 12th Edition Measuring Brand Equity...2 Chapter Twenty­four Brand And Customer Metrics Marketing Research 12th Edition Competitive Advantage Michael Porter’s Five Forces Model Source: http://www.brs-inc.com/porter.asp Marketing Research. .. Assessing Competitive Advantage Process­Based Assessment Marketing Research 12th Edition Brand Equity • • Defined as a set of brand assets and liabilities linked to a  brand,  that add to or subtract from the value of a product