Brand Gap
The difference between a brand's desired perception and the actual perception held by consumers. Important for identifying areas of improvement and aligning brand strategy with consumer expectations.
29 topics found for:
“consumer expectations”
Brand Promise
The commitment a brand makes to its customers about the quality and experience they can expect. Essential for building trust and setting customer expectations.
ZMOT
Zero Moment of Truth (ZMOT) is a concept in marketing that refers to the point in the buying cycle when the consumer researches a product before the seller even knows they exist. Crucial for understanding consumer behavior and optimizing marketing strategies to influence decision-making at this early stage.
Brand Image
The perception of a brand in the minds of consumers, shaped by interactions and experiences with the brand. Crucial for understanding consumer perceptions and guiding brand strategy.
Product Positioning
The process of defining how a product is perceived in the minds of consumers, relative to competing products, to create a unique market identity. Essential for differentiating a product and attracting the target market.
Paradox of Value
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility. Useful for understanding consumer behavior and designing pricing strategies.
Reference Dependence
A cognitive bias where individuals evaluate outcomes relative to a reference point rather than on an absolute scale. Essential for understanding decision-making and consumer behavior.
Lovemark
A marketing concept that describes brands that inspire loyalty beyond reason, creating an emotional connection with consumers. Crucial for building strong brand loyalty and emotional engagement.
Neuroselling
The application of neuroscience principles to marketing, aiming to understand consumer behavior and improve marketing strategies. Important for creating more effective and engaging marketing campaigns.
Brand Management
The process of developing and maintaining a brand to ensure it meets business goals and customer expectations. Crucial for sustaining brand equity and achieving long-term success.
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users. Useful for driving sales by presenting a balanced choice that appears more attractive relative to higher and lower-priced options.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice. Important for guiding user decisions and increasing the perceived value of targeted pricing tiers.
Brand Canon
The established set of core values, stories, and attributes that define a brand's identity and guide its communications. Essential for maintaining brand consistency and authenticity.
Rebrand
The process of changing the corporate image of an organization, including its name, logo, visual identity, and messaging, to better align with its strategic goals. Important for revitalizing a brand and aligning it with current market positioning and business objectives.
Product Disruptor
A product that significantly changes the market or industry by introducing innovative features or a new business model. Important for understanding market dynamics and identifying opportunities for innovation.
KYC
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. Essential for preventing fraud, money laundering, and terrorist financing, particularly in financial services, while also ensuring compliance with regulatory requirements and building trust with customers.
Emerging Trends
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
Brand Experience
The totality of all interactions a customer has with a brand, shaping their overall perception and relationship with the brand. Essential for building strong customer relationships and fostering brand loyalty.
ATL
Above the Line (ATL) refers to marketing activities carried out at a macro level to reach a large audience through mass media such as TV, radio, and print ads. Essential for building brand awareness and reaching a wide audience.
Trick Cancellation
A dark pattern where the cancellation process is intentionally complicated to discourage users from canceling. Designers must avoid complicating cancellations and respect user decisions with a straightforward process.
Relativity
A principle often used in behavioral economics that suggests people evaluate options based on relative comparisons rather than absolute values. Important for understanding decision-making and designing choices that highlight beneficial comparisons.
QFD
Quality Function Deployment (QFD) is a method used to transform customer needs into engineering characteristics for a product or service. Essential for ensuring that customer requirements are systematically incorporated into the design and development process.
Pain Of Paying
The psychological discomfort experienced when parting with money, influenced by the payment method and context. Crucial for understanding spending behavior and designing payment systems that mitigate discomfort.
NPD
New Product Development (NPD) is the complete process of bringing a new product to market, from idea generation to commercialization. Essential for companies to innovate, stay competitive, and meet evolving customer needs through a structured approach to creating and launching new offerings.
MoT
Moment of Truth (MoT) refers to any instance where a customer interacts with a brand, product, or service in a way that leaves a significant impression. Crucial for identifying key touchpoints in the customer journey and optimizing them to enhance overall user experience and brand perception.
Co-Branding
A marketing strategy where two brands collaborate to create a product or service that leverages the strengths of both. Crucial for expanding market reach and enhancing brand value through strategic partnerships.
Burn-In
The process of running a system for an extended period to detect early failures and ensure reliability. Important for ensuring the stability and performance of digital products before full-scale deployment.
Test Marketing
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch. Important for assessing market response, identifying potential issues, and refining digital products before a wider release.
PAC
Product Advisory Council (PAC) is a group of customers, industry experts, and stakeholders who provide feedback and guidance on a company's product strategy and development. Essential for aligning products with market needs and driving innovation.