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L2: Relationship Management (Key questions (Which brands to you see as…
L2: Relationship Management
Relationship management
Establish Relationship
Provide Brand Benefits that
Enable
Entice
Enrich
And induce associated emotive beliefs
Brand Trust
Brand Love
Brand Esteem
Elaborate Relationship
Adjust, enhance, add, or delete benfits
Extend Relationship
Product/brand extension
Perception
Perception is reality for consumer and determine behaviour: Should be influenced by Product positioning e.g. cleansing power / hot & cold water functionality of laundry detergent
Selective exposure
Consumers only seek information that is of interest
Selective attention
Consumers only take in information relevant to their needs and interests
Chemicals
Endorphins
Mask physical pain
After physical exercises
Enabled humans to get going even when injured e.g. hunting, long shift work, queuing in the rain
Dopamine
Feels great when accomplishing something (to do list, target achievement etc)
To ensure we move towards goals, can be addictive
The hook, e.g. online-gaming: chance of winning, variable reward is important, visual numbers, external trigger
Serotonin
Feeling of pride/status/recognition/confidence
When something great happens to you
Also experienced by people close to you
Go to stadium instead of TV to bond and experience unity with team and friends
Expensive luxury, only known by inner circle: Creates serotonin when identified
Oxytocin
Love, friendship, enjoying spending time together, bonding, rewards generosity, inhibits addiction and boosts immune system
Cortisol
Stress response
Basic survival
If someone else is seen stressed, we get stressed
Shuts of unnecessary growth, immune system, promotes feeling of emptiness
Key questions
Which brands to you see as enticing, enabling, enriching the self
how do they do it over time?
What effects does this have for the brand-customer relationship over time?
Caterpillar vs Komatsu?
LG vs Apple
Levi's vs Diesel
Hummer vs Tesla
Hermes vs Augarten
People's preferences change over time and so should change the benefits offered as part of a relationship --> relevancy
Interview methodology
Separate questions into segments and why, when, where, how
Observation method scenario
Measure all with metric of Brand Value to Customers / Company