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Effective Marketing Management

Effective Marketing Management. Brands, Attitude and Attitude Change. World’s Most Valuable Brands – 2004 – Interbrand Corp. Biggest Brand Value Increases in 2004. Apple = $6.87 (increase of 24%) Amazon.com = $4.16 (increase of 22%) Yahoo! = $4.55 (increase of 17%)

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Effective Marketing Management

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  1. Effective Marketing Management Brands, Attitude and Attitude Change

  2. World’s Most Valuable Brands – 2004 – Interbrand Corp.

  3. Biggest Brand Value Increasesin 2004 • Apple = $6.87 (increase of 24%) • Amazon.com = $4.16 (increase of 22%) • Yahoo! = $4.55 (increase of 17%) • Samsung = $12.55 (increase of 16%) • HSBC = $8.67 (increase of 15%)

  4. Biggest Brand Value Decreasesin 2004 • Kodak = $5.23 (decrease of 33%) • Nintendo = $6.48 (decrease of 21%) • Nokia = $24.04 (decrease of 17%) • AOL = $3.25 (decrease of 18%)

  5. Evolution of the Brand McNeill and McNeill (2003) believe that branding was developed as a result of “…humans [being] drawn together in patterns of interaction and exchange, cooperation and competition since earliest times”.

  6. Disputed Origins Of Branding Keller (2003) believes that the origins of branding relate to craftsmen and their need to identify the fruits of their labour from others whilst Olins (2003) believes that branding was born out of the need for different cultural groups to identify themselves from one another.

  7. Branding in the Marketing Field Low and Fullerton (1994) believe that branding, in the marketing field, can be historically traced to the late 19th century with “…the development of branded consumer products such as Gillette and Quaker Oats”.

  8. Definition of Attitude Peter, Olson and Grunert (1999) define attitude as “…a person’s overall evaluation of a concept.” Solomon, Bamossy and Askegarrd (1999) define attitude as “…a lasting, general evaluation of people, objects or issues.”

  9. Functional Theory of Attitudes Katz (1960) identified the below as attitude functions: - Utilitarian function - Value-expressive function - Ego-defensive function - Knowledge function Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall, p.122-123.

  10. Attitudes Towards Objects and Behaviours Consumers can have attitudes towards: a) Physical and Social Objects For example, products, brands, stores, people b) Own Behaviours and Actions For example, past actions and future behaviours Source: Peter,J.P., Olson,J.C., & Grunert,K.G.(1999) Consumer Behaviour and Marketing Strategy (Europeaned), UK:McGraw-Hill,p.118.

  11. Variations in Levels of Specificity of Attitude Concept Product Class Product Form Brand Model Brand/Model/General Situation Brand/Model/General Specific Situation

  12. Salient Beliefs “…activated beliefs are called salient beliefs. Only the salient beliefs about an object cause or create a person’s attitude towards that object.” Source: Peter,J.P., Olson,J.C., & Grunert,K.G.(1999) Consumer Behaviour and Marketing Strategy (Europeaned), UK:McGraw-Hill,p.121.

  13. Attitude-Change Strategies 1. Add a new salient belief about the attitude object – ideally a positive one. 2. Increase the strength of an existing positive belief. 3. Improve the evaluation of a strongly held belief. 4. Make an existing favourable belief more salient. Source: Peter,J.P., Olson,J.C., & Grunert,K.G.(1999) Consumer Behaviour and Marketing Strategy (Europeaned), UK:McGraw-Hill,p.126.

  14. Factors that Weaken the Relationship between Measured Behavioural Intentions and Observed Behaviour Intervening Time Different Levels of Specificity Unforseen Environmental Event Unforseen Situational Event Stability of Intentions New Information Source: Adapted from Peter,J.P., Olson,J.C., & Grunert,K.G.(1999) Consumer Behaviour and Marketing Strategy (Europeaned), UK:McGraw-Hill,p.135.

  15. Levels of Commitment to an Attitude 1. Compliance – lowest level of involvement, helps in gaining rewards or avoidingpunishments 2. Identification - attitudes are formed in order for the consumer to be similar to another person or group 3. Internalisation- high level of involvement, deep-seated attitudes are internalised and become part of the person’s value system Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall, p.122-123.

  16. Multiattribute Attitude Models This type of model assumes that a consumer’s attitude (evaluation) of an object will depend on the beliefs s/he has about several or many attributes of the object. Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall.

  17. Basic Multiattribute Attitude Models Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall, p.122-123.

  18. Fishbein Model (1983) The most influential multiattribute model is the Fishbein model which measures three components of attitude: 1. Salient beliefs 2. Object-attribute linkages 3. Evaluation of each of the important attributes. Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall, p.136.

  19. Theory of Reasoned Action This is a revised version of the Fishbein model which considers: - Intentions versus behaviour - Social pressure - Attitudes towards buying Source: Solomon,M., Bamossy,G. & Askegaard,S.(1999) Consumer Behaviour: A European Behaviour UK:FT/Prentice Hall, p.138.

  20. Cognitive Dissonance Antonides and Van Raaij (1998) define cognitive dissonance as “…a kind of tension or uneasiness we feel when our behaviour is inconsistent with out attitudes or when our attitudes are inconsistent with each other.”

  21. Interdisciplinary Nature of Marketing Sheth and Rajendra (2005: 12) states that there is “…continuing need for marketing to learn from other disciplines.” MacInnis (2005: 14) states that “…marketing is a multifaceted field that leverages perspectives from multiple disciplines.” Staelin (2005: 21) states that “…marketing is a complex discipline that requires people to be open to many different approaches and ideas, many of which come from disciplines other than marketing.”

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