Future of Brand Building conference report - The Wharton School of ...

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A Framework for Understanding the Relationship between Advertising and Retailing Barbara Kahn Patty and Jay H. Baker Professor; Professor of Marketing; Director, Baker Retailing Center, The Wharton School Seller’s Market Buyer’s Market Connected Community Economic Uncertainty (Madoff) THE CHANGE IN MARKETING Production: Focus on Company Marketing: Focus on Customer and Competition Experience: Focus deeper on customer experiential value; consumer is media/channel agnostic; giving up control Trust: Focus on genuine customer value—RESET, Discipline, flexibility Interactive /Social Marketing • 2009: 12% of advertising/branding spend • 2014: (est) 21% of spend • Characteristics of interactive marketing Transparency Two (multi)-way dialogue Need to be willing to lose some control for your brand Social/Interactive Marketing 1996 • Metaphor: Flock of birds flying • Don’t know who is leading or where they are going! What is an Experience • Experiences are processes that occur as a result of encountering, undergoing or living through situations. • Triggered stimulations to the senses, heart and mind. • They connect the company and the brand to the customer’s lifestyle and place individual customer actions and purchase occasions in a broader social context. Connecting Experience to the Brand • Experiential Brand Positioning What does the brand stand for Should be a multisensory strategy Should be different in some real and valuable way from all competitors • Experiential Brand Value Promise Describes what customers gets in experiential terms • Sense Feel Think Act Relate • Embrace all channels (experientially) 14 Baker Retailing Center
A Framework for Understanding the Relationship between Advertising and Retailing Barbara Kahn Patty and Jay H. Baker Professor; Professor of Marketing; Director, Baker Retailing Center, The Wharton School Sociocultural/Business Context Usage context Product Category experience Product experience • design, music, fragrance, type of salespeople. Search Consideration Purchase Usage Disposal Repurchase Store within a store; you may ask yourself, am I still in Target Conference Report 15
Page 1 and 2: Conference Report Future of Brand B
Page 3 and 4: Contents A Framework for Understand
Page 5 and 6: A Framework for Understanding the R
Page 7 and 8: Connecting the Touch Points Joe Fec
Page 9 and 10: Bringing Marketing Academics and Pr
Page 11 and 12: Connecting the Touch Points to Appe
Page 13 and 14: Summary and Conclusions
Page 15: Appendix A Framework for Understand
Page 19 and 20: Leveraging Technology in an Age of
Page 21 and 22: Leveraging Technology in an Age of
Page 23 and 24: Understanding Consumers’ Decision
Page 25 and 26: Bringing Marketing Academics and Pr
Page 27 and 28: Connecting the Online and Offline S
Page 33 and 34: Notes Conference Report 31
Page 36: Jay H. Baker Retailing Center The W

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