Card Set Information
Buyer Behavior Chapter 3- Branding Strategies and Consumer Behavior
Diffusion of Innovation
The rate at which a new product spreads or is adopted across the marketplace.
Strategies for bringing a new product to market.
The value that a brand accrues based on the goodwill attached to associations with the brand name.
Different products with the same brand name (e.g., Coke Classic, Cherry Coke, Vanilla Coke, Coke Zero).
When sales of one product on the line "eat up" or reduce sales of another product on the same line.
The strong preference for a specific brand.
The strong preference for a specific attribute.
A large price discount on a single unit of a particular brand.
Young & Rubicam Brand Asset Valuator
An instrument that uses a set of scales to measure differentiation (How unique is the brand?), esteem (Is the brand the best?), and knowledge (Does the brand have a clear and consistent image?).
Source of Volume
Where future purchases of products will come from.
Strategies that focus on attracting new customers.
Strategies that focus on retaining current customers.
Programs that provide rewards to customers for repeat purchases.
Advertising that emphasizes the differences in quality among brands.
Strategies that manipulate product prices to attract customers.
A consumer's intense and actively loyal relationship with a brand.
Offering a lower price for multiple units of a product.
The number of intermediaries (e.g., wholesalers, distributors, and retailers) needed to get the product from the manufacturer tot he consumer.
The tendency for consumers to interpret ambiguous evidence as consistent with their current beliefs.