BUS631 Study Guide
Unit 7: The Study of Brand Positioning Using Integrated Marketing Communications
7a. Evaluate the impact of a brand's integrated marketing communications in building brand equity
- How can integrated marketing communications be used to build brand equity?
- Why would a brand manager want to build brand equity?
- How does integrated marketing communications impact a brand?
Integrated marketing communications create consistent messages across brand marketing. Systems are developed to produce integrated marketing communications to ensure consistency. Companies use integrated marketing communications to help build brand equity, as the marketing created during this process demonstrates a consistent message throughout the brand.
It is important to understand how integrated marketing communications work so that a brand's equity can be built and all brand marketing is aligned. When a brand manager develops integrated marketing systems to control the message, they decide what message that will be and ensure consistency through processes.
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7b. Explain the results of a brand exploratory analysis from a brand equity/consumer perception listening study
- How can brand exploratory analysis be used to interpret consumer perception?
- What is brand exploratory analysis?
- What is a perception listening study?
Brand exploratory analysis allows a brand manager to understand what a potential customer may think and feel about a product and then what action they might take as a result. This information is useful to help build brand equity and understand the mindset of the consumer. This information is also used to determine what barriers there might be in the consumer thought process as it relates to the product or brand.
A perception listening study is a process set up by a brand manager to understand the mindset of a potential consumer as they use the product that will be promoted. This process will allow the brand manager to better understand the benefits, potential barriers, and attitudes of the brand or product.
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7c. Analyze consumer sentiment through social listening techniques to identify shifts in consumer perceptions
- What is consumer sentiment as it relates to a brand?
- How does a consumer's perception change?
- How can social listening techniques be applied to consumer sentiment?
Consumer sentiment encompasses numerous feelings and attitudes about a brand or products of that brand. These attitudes might include values, behaviors, or motivations about the product. For example, a strong connection to the brand may bring strong feelings and loyalty to the brand.
Social listening techniques may be used to better understand the consumer and their perceptions. By listening to a potential customer as they describe a product or brand and picking up on key phrases or attitudes, a brand manager may gain deeper insight into consumer perceptions and any shifts or changes in that perception over time.
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7d. Analyze collected data from available websites and public sources to determine consumer sentiment
- How can social media be used to determine consumer sentiment?
- What data might be gleaned from social media to determine consumer sentiment?
- What websites and public sources might data be collected to help determine consumer sentiment?
Social media is one way a brand manager may be able to gather information to better determine consumer sentiment. Consumers may like a product, make comments about that product, or express frustrations about certain aspects of the product. All of this is great data to collect to determine what features and benefits to focus on in the marketing of that product.
Other websites or public sources may also be used to collect similar data. These might include government websites, websites that offer reviews of specific products (with a comment section), or numerous social media sites. All of these websites may give a brand manager a better understanding of the brand and how consumers feel about the brand.
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7e. Evaluate the consumer response to a brand positioning relaunch strategy to determine impact on sales
- What is a brand positioning relaunch strategy?
- How does a relaunch strategy impact sales?
- Why is it important to evaluate a consumer response to a brand?
When a company decides that a branch needs to be relaunched, it may occur for a variety of reasons. A brand positioning relaunch strategy may be developed to determine what needs to change. These might include logos or styles and include public statements as well. These brand positioning relaunches may impact sales as they move to change with the times. At times, the brand positioning relaunch may occur to increase sales or gain additional customers.
For example, Washington Federal, Inc. bank completed a brand positioning relaunch a few years ago and is now called WaFd. Their logo changed, marketing was updated, and their mission statement was shortened as a result. This may be in response to the change in culture in the United States when many words were being shortened or combined.
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Unit 7 Vocabulary
This vocabulary list includes terms you will need to know to successfully complete the final exam.
- brand exploratory analysis
- brand positioning relaunch strategy
- consumer sentiment
- integrated marketing communications
- perception listening study
- social listening techniques
- social media