1 / 18

BRANDS OVER TIME LECTURE 7

BRANDS OVER TIME LECTURE 7. Brands Over Time. An Example: Ivory. The brand Ivory includes soap ingredients, manufacturing plants, packaging, employees. Ivory also includes a long heritage. Other competitors existed in 1890s

odessa
Download Presentation

BRANDS OVER TIME LECTURE 7

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BRANDS OVER TIMELECTURE 7 MKTG 461 – Brand Management

  2. Brands Over Time • An Example: Ivory • The brand Ivory includes soap ingredients, manufacturing plants, packaging, employees. • Ivory also includes a long heritage. • Other competitors existed in 1890s • Sapolio, Pearline, Pear’s Kirks, Packer’s Tar, Fair, Cuticura, Woodbury’s, Wool Soap MKTG 461 – Brand Management Brands Over Time – Slide 1

  3. MKTG 461 – Brand Management Brands Over Time – Slide 2

  4. 1926 1927 MKTG 461 – Brand Management Brands Over Time – Slide 3

  5. 1932 MKTG 461 – Brand Management Brands Over Time – Slide 4

  6. 1940 1942 MKTG 461 – Brand Management Brands Over Time – Slide 5

  7. Brands Over Time • Clearly, some brands are more or less successful over time. Why…. • To answer this question we will talk about the following issues: • How consumers’ preferences develop over time • Nostalgia and nostalgic influences • Role of consistency over time MKTG 461 – Brand Management Brands Over Time – Slide 6

  8. Brands Over Time • How preferences develop over time is not well understood. Interesting findings are emerging. • Holbrook and Schindler find preferences for aesthetic products are time-dated. MKTG 461 – Brand Management Brands Over Time – Slide 7

  9. Brands Over Time - Nostalgia • Originally studied as a 17th century physical malady of Swiss mercenaries. • Defining Nostalgia • bittersweet recall, longing for past period, good old days • not basic memories or recollections, but... • Nostaligia  "a longing for the past, a yearning for yesterday, or a fondness for possessions and activities associated with the days of yore" (Holbrook 1993, p.245) MKTG 461 – Brand Management Brands Over Time – Slide 8

  10. Nostalgia Not Here Nostalgia Here Brands Over Time - Nostalgia • Nostalgia is a characteristic of the consumer, not an object, event, etc.. MKTG 461 – Brand Management Brands Over Time – Slide 9

  11. Brands Over Time - Nostalgia • An important distinction about nostalgia should be considered  Personal vs. Historic MKTG 461 – Brand Management Brands Over Time – Slide 10

  12. Brands Over Time - Nostalgia • Nostalgia has been examined from a number of perspectives: • As a personality trait (Nostalgia Proneness Scale) • In the form of memory…autobiographical memory • As a foundation of the self • As an influence on the outcomes of marketing communications. • An Example of Nostalgia and Marketing MKTG 461 – Brand Management Brands Over Time – Slide 11

  13. Brands Over Time - Nostalgia • Does nostalgia influence advertising outcomes? Muehling & Sprott (2004) • Experiment • Nostalgic Kodak Advertisement • Non-nostalgic Kodak Advertisement • Dependent Measures • Ad Attitudes • Brand Attitudes • Purchase Intentions MKTG 461 – Brand Management Brands Over Time – Slide 12

  14. MKTG 461 – Brand Management Brands Over Time – Slide 13

  15. Brands Over Time - Consistency • A crucial aspect of maintaining branding successes over time is consistency. • Background • People prefer consistency ala “consistency theory” • Heider’s Balance Theory • Bem’s Self-Perception Theory • Cognitive Dissonance • People are more favorable to people, ideas, objects that are consistent. Thus… MKTG 461 – Brand Management Brands Over Time – Slide 14

  16. Brands Over Time - Consistency • Brands that provide a consistent image to consumers should be preferred to brands that do not. • Coke; John Deere; Ivory (remember the ads); Mercedes • As Aaker notes, when a brand is consistent management can: • Own a position in consumers’ minds • Own a recognizable symbol • Gain cost efficiencies MKTG 461 – Brand Management Brands Over Time – Slide 15

  17. Brands Over Time - Consistency • Consistency is not always the best approach… • As Aaker notes, brands might need to be changed when the brand’s “identity/execution is… • Is Poorly Conceived • Is Obsolete • Appeals to a Limited Market • Is Not Contemporary • Is Tired” MKTG 461 – Brand Management Brands Over Time – Slide 16

  18. Brands Over Time • Next Class – Discussion • An Interesting Article by Olsen • Think of an important brand in your present life that has meant something to you family over time. Why has it been so important? MKTG 461 – Brand Management Brands Over Time – Slide 17

More Related