Please enable JavaScript.

Coggle requires JavaScript to display documents.

3: Brand Identity, Signaling and Social Status (Brand Identity (Strategies…

- - - - Strategic Vision: central idea behind company's actions :bulb:
        express management aspriations :thought_balloon:
      - Organizational Culture: internal values and beliefs :check: :forbidden:
        basic assumptions about company and heritage
      - Stakeholders' Images: outside world's overall impression of company :earth_americas: :+1:
    - - Actual
        
        actual identity, everday reality of company :watch:
      - Communicated
        
        brand identity expressed through all sources of communication :bird: :newspaper: :tv:
      - Conceived
        
        image/reputation (how consumers perceive brand) :+1: :-1:
      - Ideal
        
        optimum positioning of brand at any time :money_mouth_face: :checkered_flag:
      - Desired
        
        strategic vision :bulb: :telescope: (in leaders' hearts & minds)
- - - - Brand equity hinges on the credibility of the quality claims :scales:
      - Perceived risk reduction and reduced information costs attributed to brands are antecedents of brand equity :leftwards_arrow_with_hook:
      - Brand loyalty is a consequence of brand equity :arrow_right_hook:
        repeat purchases because of increased expected utility
- - - - get utility from consumption and status from others :watch: :large_blue_diamond:
      - Veblen Effect
        
        extreme CC, higher the price, higher the demand
        
        Invidious comparison: high class distinguishes from low class :necktie:
        
        Pecuniary comparison: low class imitates high class :construction_worker:
        
        functionally equivalent goods - define utility over consumption and status, not price
      - Consumers care about what certain groups think to be best choices for gaining status :racehorse: :racing_car:
      - Conform to group norms, but need uniqueness :unicorn_face:
      - opinion leaders, not necessarily opinion seekers :mega:
    - - consumers don't care about social status,
        more individual :man-shrugging::skin-tone-3:
      - make choices based on product characteristics :star:
      - not opinion leaders or seekers :forbidden: