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Brand Insights 4.0: An Effective Tool in the Hands of Brand Managers

July 20, 2015 • Marketing & Consumers, STRATEGY & MANAGEMENT

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http://www.europeanbusinessreview.com/brand-insights-4-0-an-effective-tool-in-the-hands-of-brand-managers/
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By Steffen Schmidt, Frank Buckler, Nadine Hennigs, Matthias Rothensee, Levke Albertsen

A sophisticated Brand Insights 4.0 approach incorporating all elements of the analytical power of the stages 1.0 and 3.0 has the capability to improve the management decisions of brand managers effectively.  In this article, the authors use Brand 4.0 Insights, combining implicit and explicit measures of customer perceived value (CPV) and brand love (BL) to explain brand attraction using Universal Structure Modeling.

Necessity For An Information-Based Brand Management
The equity of a brand is widely considered and accepted as a key asset for most firms and brand managers. From a company’s perspective, a strong brand acts as a guardian of the firm’s performance. Actually, the psychological advantages of such guardianship are greater customer loyalty and less customer price sensitivity, which leads as a financial consequence to higher and lasting revenue streams. Therefore, marketers undertake vast efforts on creating and building up a strong brand by implementing various marketing activities. These efforts aiming at superior brand attraction from a customer’s point of view are quite often related with massive spending in brand communication (e.g., sport sponsorship) and extensive customer loyalty programs (e.g., tier system) in order to keep the brand permanently visible as well as rewarding at every purchase (consumption). As the competition heats up, often steadily increasing brand investments have the character of a mind-oriented armament to conquer and occupy the heads of a potential target group by a majority. The rivalry between titans of a given market often leads to a brand war. A famous brand war in the past was the fight Nintendo vs. Sega – also known as the first console war – in the early and mid-90’s, while in the present, the great smartphone war between Apple and Samsung goes ahead round by round quite prominently. And similar to a real war, it is all about information (and disinformation) to hold the upper hand. That said, in the field of marketing the “brand commander” with the more comprehensive and most accurate information has best chances to win the combat in customer’s mind due to an improved scope of action to adjust and place the brand in an ideal mental position.



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