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23 Cards in this Set
- Front
- Back
Acquisition Strategies |
focus on attracting new customers |
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attribute loyalty |
the strong preference for a specific attribute ( can create brand-switching) |
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brand entry strategy |
how firm plans to bring the brand products into the market |
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brand equity |
the value that a brand accrues based on the goodwill attached to associations with the brand name |
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brand extension |
different products with the same brand name ( coke, vanilla coke and cherry coke)
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brand loyalty |
the strong preference for a specific brand |
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cannibalization |
the sales of one product on the line may " eat up" or reduce sales of another product on the same line |
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channel length |
the number of intermediaries ( e.g. wholesalers, distributors, and retailers) |
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confirmation bias |
When people find it easier to identify and interpret information that supports their beliefs as opposed to information that fails to do so |
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continuity pricing |
encourages current users to continue using a brand, by offering a lower price for multiple units of a product |
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differentiating advertising |
advertising that emphasizes the differences in quality among brands |
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diffusion of innovation |
the rate at which a new product spreads or is adopted across the marketplace and differs among product categories |
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proactive strategy |
when firms develop many new products and try to be first in the race to the market |
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reactive strategy |
When firms wait to see what competitors offer and then develop me-too or copy cat brands |
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Pioneering brand advantage |
first brands that enter the market of often enjoy a long-term preference advantage over copycat brands |
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Brand resonance |
refers to a consumer's intense and active loyal relationship with a brand |
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The Young & Rubicam Brand Asset Valuator |
an instrument that uses a set of scales to measure differentiation ( How unique is the brand? ) relevance ( how useful is the brand) , and knowledge ( does the brand have a clear and consistent image?) |
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incremental theorist |
consumers who believe that the world is malleable or that change is possible |
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entity theorist |
consumers who believe that the world is rigid or fixed and that change is nearly impossible |
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source of volume |
where future purchases will come from |
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retention strategies |
focus on keeping current customers |
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loyalty programs |
provide rewards for repeat purchases |
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pricing strategies- trial pricing and continuity pricing |
trial pricing= a large discount on a single unit of a particular brand |