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1) Word of mouth plays a disproportionately large role in emerging markets due to high rates of first-time purchases and a culture that values social validation. Companies should focus marketing geographically to leverage word of mouth effects.
2) Emerging market consumers consider smaller initial brand sets and are less likely to switch brands later. It is important for companies to get their brands into the initial consideration set through local advertising and tailored messaging.
3) The in-store experience has a larger influence on purchase decisions in emerging markets as consumers frequently visit multiple stores and collect information over long decision journeys. Companies must closely manage
The complete Building An FMCG Social Brand whitepaper. This publication explores content across the three key phases of the consumer decision journey:
1) Initial Consideration – Trigger
2) Active Evaluation – Information Gathering, Shopping and Buying
3) Post Purchase Experience and Advocacy
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• Seeking authenticity; consumers value information themselves
• Marketing becomes personal, bite-sized, searchable and shareable
• Integration of On- and offline platforms
The report focuses on the challenge pharmaceutical companies will face in the coming years: attracting the attention and meeting the needs of the consumer on a new level.
The evolution of value and values for private label brands
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
The complete Building An FMCG Social Brand whitepaper. This publication explores content across the three key phases of the consumer decision journey:
1) Initial Consideration – Trigger
2) Active Evaluation – Information Gathering, Shopping and Buying
3) Post Purchase Experience and Advocacy
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MSLGROUP in the Netherlands' report on the 'Shifts In Healthcare Communications' highlights five shifts that are changing the way we conduct business, namely
• Increase of online engagement for OTC
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The report focuses on the challenge pharmaceutical companies will face in the coming years: attracting the attention and meeting the needs of the consumer on a new level.
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Or visit us at http://www.sld.com
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List of Marketing Capstone Project Ideas, if you are looking for a unique topic for the project. http://www.capstoneproposal.com/marketing-capstone-project-ideas/
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See the full article on RETHINK Retail's website: https://bit.ly/37l4fj2
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Ron Thurston, VP of Stores at INTERMIX; Author of “Retail Pride”
Line Tousignant, VP Strategy & Experience at Valtech
Shannon Ryan, EVP North America at Valtech
Wolfgang Hoffmann, President of Jaguar Land Rover Canada
Fabiola Velarde, Senior Director Emporio Armani Retail Americas at Giorgio Armani
Ludovic Baussan, Co-Founder & Head of Strategy at 2nd AVE
Elinor Noble, Global Head of Retail Excellence at LOEWE (LVMH)
Francois-Xavier Hotier, President of Ulysse Nardin Americas and Kering Luxury Watches
Sandrine Crener, Program Director at Harvard Business School
Marie Driscoll, Managing Director Luxury & Fashion at Coresight Research
The strong brand equity value has turned into an exceptionally critical element that influences customers' behaviour of a brand. Success brand management climbs from understanding and overseeing brand equity fittingly to create the characteristics that will impact customers' behaviour when settling on their decisions. The study makes use of primary and secondary data relating to consumers’ behaviour and brand equity. Data collected from 100 customers from two major cities in odisha. Convenient sampling method is adopted for the selection of samples. This paper stresses on the examination of the effect of purchaser behaviour and brand equity dimensions on purchase of durable products. Spearman's Correlation Coefficient is used for analysis and interpretation in order to study the difference among the purchase value of durable goods, consumer’s buying behaviour of durable goods, brand awareness, brand image, perceived quality, brand association and brand loyalty.
To study the effect of brand image on consumer purchase behaviour towards spo...Service_supportAssignment
The level of familiarity amongst the consumers regarding the availability and life of a product provided by a particular brand is referred to as awareness of brand. The concept of brand awareness can be referred to as the consumer being so familiar about a particular brand he or she prefers that if a particular category of a product or choosing certain brand is mentioned, then the preferable brand strikes in the mind of the consumer (Morris et al, 2009). Preferences of consumers can be defined as personal tastes of individuals that can be understood by the utility of particular goods.
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Presentatie van dr. Bertine Lahuis, voorzitter Raad van Bestuur Karakter, over de gevolgen van de Transitie in de zorg en jeugdGGZ op de GGZ Kennisdag van september 2015.
Microsoft advertising insights consumer journey auto buyers infographicPhoneTrack
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GroupM’s The Great Shift 2020 details the shift caused by the pandemic in four major sectors (Auto, CPG & E-comm, Telecom and Financial Services) and another (Entertainment) where the industry has gone through significant change and, as a result, we must alter the way we think of them as sources of inventory.
List of Marketing Capstone Project Ideas, if you are looking for a unique topic for the project. http://www.capstoneproposal.com/marketing-capstone-project-ideas/
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Leading media outlet RETHINK Retail spoke with top retail executives and industry thought leaders about how luxury is shifting into a more digital, personal, and sustainable industry.
See the full article on RETHINK Retail's website: https://bit.ly/37l4fj2
You’ll hear from:
Ron Thurston, VP of Stores at INTERMIX; Author of “Retail Pride”
Line Tousignant, VP Strategy & Experience at Valtech
Shannon Ryan, EVP North America at Valtech
Wolfgang Hoffmann, President of Jaguar Land Rover Canada
Fabiola Velarde, Senior Director Emporio Armani Retail Americas at Giorgio Armani
Ludovic Baussan, Co-Founder & Head of Strategy at 2nd AVE
Elinor Noble, Global Head of Retail Excellence at LOEWE (LVMH)
Francois-Xavier Hotier, President of Ulysse Nardin Americas and Kering Luxury Watches
Sandrine Crener, Program Director at Harvard Business School
Marie Driscoll, Managing Director Luxury & Fashion at Coresight Research
The strong brand equity value has turned into an exceptionally critical element that influences customers' behaviour of a brand. Success brand management climbs from understanding and overseeing brand equity fittingly to create the characteristics that will impact customers' behaviour when settling on their decisions. The study makes use of primary and secondary data relating to consumers’ behaviour and brand equity. Data collected from 100 customers from two major cities in odisha. Convenient sampling method is adopted for the selection of samples. This paper stresses on the examination of the effect of purchaser behaviour and brand equity dimensions on purchase of durable products. Spearman's Correlation Coefficient is used for analysis and interpretation in order to study the difference among the purchase value of durable goods, consumer’s buying behaviour of durable goods, brand awareness, brand image, perceived quality, brand association and brand loyalty.
To study the effect of brand image on consumer purchase behaviour towards spo...Service_supportAssignment
The level of familiarity amongst the consumers regarding the availability and life of a product provided by a particular brand is referred to as awareness of brand. The concept of brand awareness can be referred to as the consumer being so familiar about a particular brand he or she prefers that if a particular category of a product or choosing certain brand is mentioned, then the preferable brand strikes in the mind of the consumer (Morris et al, 2009). Preferences of consumers can be defined as personal tastes of individuals that can be understood by the utility of particular goods.
Digital divas represent 22% of total shoppers but 69% of total fashion spend. Read the full report from University of Arizona and Demandware on how they are digitizing the store.
Presentatie van dr. Bertine Lahuis, voorzitter Raad van Bestuur Karakter, over de gevolgen van de Transitie in de zorg en jeugdGGZ op de GGZ Kennisdag van september 2015.
momentum DNS security , it describes the momentum Solves DNS Monitoring Problem For Large ISP Firm,
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Benefits:
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•Support historical trend of DNS traffic with one second granularity.
•Detect the attack with traffic trend or domain statistic
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Discussion: Therapy for Clients With Personality Disorders
Clients with personality disorders often find it difficult to overcome their problems and function in daily life. Even when these clients are aware that they have a dysfunction with their personality and are open to counseling, treatment can be challenging for both the client and the therapist. For this Discussion, as you examine personality disorders, consider therapeutic approaches you might use with clients.
Learning Objectives
Students will:
· Analyze therapeutic approaches to treating clients with personality disorders
To prepare:
· Review this week’s Learning Resources and reflect on the insights they provide.
· Select one of the personality disorders from the DSM-5.
By Day 3
Post
· A description of the personality disorder you selected. (personality disorder).
· Explain a therapeutic approach (including psychotropic medications if appropriate) you might use to treat a client presenting with this disorder,
· including how you would share your diagnosis of this disorder to the client in order to avoid damaging the therapeutic relationship.
· Support your approach with evidence-based literature.
Class Rules
A clear purpose statement (The purpose of this paper is to...) is required in the introduction of all writings.
you are required to cite scholarly resources including peer-review journals and current practice guidelines
Please, all bullets points, bold, red and highlighted area must be attended to.
As the rapid growth of emerging markets gives millions of
consumers new spending power, those consumers are encountering
a marketing environment every bit as complex and swiftly evolving
as its counterpart in developed countries. Product choices and
communication channels are exploding; so is the potential of digital
platforms; and, as everywhere, consumer empowerment is on the
rise.
The impact of these changes has been so profound in developed
markets that three years ago, our colleague David Court and his
coauthors proposed a new approach for understanding consumer
behavior.1 On the basis of research involving 20,000 consumers
across five industries and three continents, our colleagues suggested
replacing the traditional metaphor of a “funnel” in which consumers
start at the wide end, with a number of potential brands in mind,
before narrowing their choices down to a final purchase. Envisioning
Companies that harness word-of-mouth effects, emphasize
in-store execution, and get their brands onto shoppers’
short lists for initial consideration are more likely to capture the
loyalty of emerging-market consumers.
Building brands in emerging
markets
Yuval Atsmon, Jean-Frederic Kuentz, and Jeongmin Seong
1 See David Court, Dave Elzinga, Susan Mulder, and Ole Jørgen Vetvik, “The consumer
decision journey,” mckinseyquarterly.com, June 2009.
S E P T E M B E R 2 0 1 2
m a r k e t i n g & s a l e s p r a c t i c e
2
consumer behavio ...
If marketing has one goal, it’s to reach consumers at the moments
that most influence their decisions. That’s why consumer electronics
companies make sure not only that customers see their televisions in
stores but also that those televisions display vivid high-definition
pictures. It’s why Amazon.com, a decade ago, began offering targeted
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to buy. And it explains P&G’s decision, long ago, to produce radio and
then TV programs to reach the audiences most likely to buy its
products—hence, the term “soap opera.
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1. As the rapid growth of emerging markets gives millions of
consumers new spending power, those consumers are encountering
a marketing environment every bit as complex and swiftly evolving
as its counterpart in developed countries. Product choices and
communication channels are exploding; so is the potential of digital
platforms; and, as everywhere, consumer empowerment is on the
rise.
The impact of these changes has been so profound in developed
markets that three years ago, our colleague David Court and his
coauthors proposed a new approach for understanding consumer
behavior.1 On the basis of research involving 20,000 consumers
across five industries and three continents, our colleagues suggested
replacing the traditional metaphor of a “funnel” in which consumers
start at the wide end, with a number of potential brands in mind,
before narrowing their choices down to a final purchase. Envisioning
Companies that harness word-of-mouth effects, emphasize
in-store execution, and get their brands onto shoppers’
short lists for initial consideration are more likely to capture the
loyalty of emerging-market consumers.
Building brands in emerging
markets
Yuval Atsmon, Jean-Frederic Kuentz, and Jeongmin Seong
1See David Court, Dave Elzinga, Susan Mulder, and Ole Jørgen Vetvik, “The consumer
decision journey,” mckinseyquarterly.com, June 2009.
S E P T E M B E R 2 0 1 2
m a r k e t i n g s a l e s p r a c t i c e
2. 2
consumer behavior as less of a linear march and more of a winding
voyage with multiple feedback loops, our colleagues put forward an
iterative framework, which they called the consumer decision
journey, and identified four critical battlegrounds where marketers
can win or lose.
These four battlegrounds are initial consideration, when a consumer
first decides to buy a product or service and thinks of a few brands;
active evaluation, when the consumer researches potential
purchases; closure, when the consumer selects a brand at the
moment of purchase; and postpurchase, when the consumer
experiences the product or service selected. They are as relevant for
emerging markets as they are elsewhere. As in developed markets,
technology is unleashing the possibility of increasingly deep
customer engagement at each phase of the journey, but with some
important twists reflecting differences in the characteristics of
emerging-market consumers, who generally don’t have the same
level of experience with brands and product categories as their
developed-market counterparts do. Many are still looking to buy
their first car, first television, or first package of diapers, for example.
In this article, we highlight the implications of three key differences
between emerging-and developed-market consumers that we’ve
uncovered in our research (Exhibit 1). First, harnessing the power of
word of mouth is invaluable, as it seems to play a disproportionate
role in the decision journeys of emerging-market consumers. Second,
getting brands into a consumer’s initial consideration set is even
more important in emerging markets, because that phase of the
journey appears to have an outsized impact on purchase decisions.
Finally, companies need to place special emphasis on what happens
when products reach the shelves of retailers, because the in-store
phase of the consumer decision journey tends to be longer and more
important in emerging markets than in developed ones.
Harnessing word of mouth through
geographic focus
Word of mouth plays a more central role in the decision journeys of
emerging-market consumers than for those in developed markets.
When we surveyed food and beverage consumers in a range of
developed and emerging markets, roughly 30 to 40 percent of the
3. 3
Three factors in the consumer decision journey take on greater
importance in emerging markets than in developed markets.
Q4 2012
CDJ emerging markets
Exhibit 1 of 3
1. Consider
2. Evaluate
4. Experience5. Advocate
6. Bond
3. Buy
Word of mouth plays a
bigger role because of the
higher mix of first-time
buyers, a shorter history of
familiarity with brands, a
culture of societal validation,
and a fragmented media
landscape.
The in-store experience
influences a higher portion
of consumers’ final
decisions; consumers rarely
skip the hands-on in-store
experience when making
their decisions.
The initial brand-
consideration set is likely
to be much smaller initially;
consumers are less likely to
switch later to a brand that
was not in their initial set.
Purchase decisions of emerging-market consumers are heavily
influenced by recommendations from friends and family members.
Q4 2012
CDJ emerging markets
Exhibit 2 of 3
% of respondents who have received recommendations on food and beverage products
from family and/or friends before purchasing
Source: McKinsey 2011 surveys of 512 South African, 4,244 Chinese, and 1,198 Indonesian consumers;
McKinsey 2011 online benchmark survey of 150 UK and 250 US consumers
Egypt 92
China 71
Nigeria 49
South Africa 46
Indonesia 44
United States 40
United Kingdom 29
Emerging markets
Developed markets
Exhibit 1
Exhibit 2
4. 4
respondents in the United Kingdom and the United States said they
received recommendations from friends or family members before
making purchases. Consumers in Africa and Asia reported higher,
sometimes dramatically higher, figures: more than 70 percent in
China and 90 percent in Egypt, for example (Exhibit 2). Similarly, 64
percent of the Chinese respondents said they would consider
recommendations from friends and family for moisturizer,
compared with less than 40 percent of respondents in the United
States and the United Kingdom.
An important explanation for word of mouth’s outsized role is that in
a land of consumer “firsts”—more than 60 percent of Chinese auto
purchasers are buying their first car, and the comparable figure for
laptops is 30 to 40 percent—few brands have been around long
enough to ensure loyalty. Seeing a friend use a product is reassuring.
Indeed, the less a consumer knows about a product and the more
conspicuous the choice, the more the consumer is likely to care about
the opinions of others. “The more people I know who are using a
product,” consumers reason, “the more confident I can be that it will
not fall apart, malfunction, or otherwise embarrass me.” The
presence (or absence) of that confidence shapes the group of brands
that consumers choose to evaluate. It is particularly influenced by
the postpurchase experience of friends and family, along with their
loyalty to a brand.
Often, word of mouth is a local phenomenon in emerging markets,
partly because of the simple reality that emerging-market
consumers generally live close to friends and family. In addition,
word of mouth’s digital forms, which transcend geography and are
growing rapidly in emerging markets, still have more limited reach
and credibility there than in developed ones. According to our
annual survey of Chinese consumers, just 53 percent found online
recommendations credible—a far cry from the 93 percent who
trusted recommendations from friends and family. That same survey
showed that only 23 percent of Chinese consumers acquired
information from the Internet about products they bought. For food,
beverage, and consumer electronics consumers in the United States
and the United Kingdom, that figure is around 60 percent.
Word of mouth’s relatively local nature means that companies in
emerging markets are likely to reap higher returns if they pursue a
strategy of geographic focus than if they spread marketing resources
6. 6
Building brands that get considered
Emerging-market consumers tend to consider smaller sets of brands
initially and, compared with consumers elsewhere, are less likely to
switch later to a brand that was not in their initial set. For example,
research we conducted in nine product categories (including food
and beverages, consumer electronics, and home and personal-care
products), indicated that Chinese consumers initially consider an
average of three brands and purchase one of them about 60 percent
of the time. The comparable figures in the United States and Europe
are four brands, with a purchase rate of 30 to 40 percent.
To include a brand in the initial consideration set, consumers must
obviously be aware of it, so achieving visibility through advertising
on TV and other media is an essential first step. Here again,
geographic focus is critical. Emerging-market consumers not only
generally live close to friends and family but also tend to view local
TV channels and read local newspapers rather than national ones.
(China, for example, has about 3,000 mostly local TV stations.)
Gaining a high share of voice through local outlets in targeted
geographies can help create a sense that a company’s priority brands
are in the forefront—which is valuable, because status-conscious,
relatively inexperienced emerging-market consumers tend to prefer
brands they perceive as leaders.
But spending heavily on advertising alone is not sufficient to ensure
consideration. Companies also need to reach these consumers with
messages that have been tailored to suit local market preferences
and concerns, and are likely to be trusted. Testing messages—even
those that have delivered powerful results in developed markets—is
a key part of that equation. When Acer China tested its slogan
“Simplify my life” in China, as part of a campaign emphasizing the
low cost of its PCs, the message didn’t resonate. For typical Chinese
consumers, a PC is a very big-ticket purchase, so they care chiefly
about durability. Chinese purchasers of PCs also tend to be
entertainment rather than productivity oriented. In focus groups, it
became clear that Acer’s intended message of “great value for money”
was arousing suspicion that the company’s products might not
perform reliably. A change in Acer’s message to stress reliability
rather than simplicity and productivity helped the company to build
a more relevant and trusted brand, to get onto the short lists of more
consumers, and to double its market share in less than two years.
7. 7
Winning the in-store battle
The in-store phase of the consumer decision journey tends to be longer
and more important in emerging markets than in developed ones.
Emerging-market consumers have a penchant for visiting multiple
stores multiple times and for collecting information methodically,
especially when they purchase big-ticket items. The typical Chinese
decision journey in one major consumer electronics category takes at
least two months and involves more than four store visits. These
consumers like to test products, interact with sales reps to collect
product information, and negotiate with retailers to get the best deal.
As a result, in emerging markets
there is significantly more room to
influence and shape consumer
decisions at the moment of
purchase. We first quantified this
distinction in 2008 (Exhibit 3).
This finding has been reinforced by
subsequent research revealing, for
example, that the in-store
experience is by far the biggest
factor in finalizing emerging-
market consumers’ flat-screen-TV
purchase decisions and that
Chinese consumers are almost two
times more likely to switch brand
preferences while shopping for
fast-moving consumer goods than
US consumers are.
Important as it is to control the
in-store experience, the challenge
can hardly be overstated. Products
may be sold in tens of thousands of
retail outlets after going through
two or three layers of distributors.
Companies often have limited
visibility into what happens at the
moment of purchase. Inconsistent
merchandising, packaging, and
In-store execution heavily influences
consumer decisions in China.
% of respondents1
China compared with United States
Comparison of various products within China
“I find myself leaving the store with a different
brand/product than I planned because of the
suggestion of the in-store salesman.”
“I consider several brands and make the
final decision in the store among a set of
predetermined brands.”
49
1
Yes = respondents who strongly or somewhat agree;
no = respondents who strongly or somewhat disagree.
Source: 2008 McKinsey survey of 5,372 Chinese consumers
and ~300 US consumers
Body care
48Hair care
44Facial moisturizer
37Color cosmetics
Yes
24
No
55
76
McKinsey Compendium 2012
CDJ Emerging
Exhibit 3 of 3
China United States
45 Yes
No
% of respondents
Exhibit 3