User:Bethanllinoshannahmcintosh/sandbox

Bethanllinoshannahmcintosh (talk) 12:42, 10 May 2017 (UTC)

Article 1: Influencer Marketing
Gladwell (2000)[10] notes that “the success of any kind of social epidemic is heavily dependent on the involvement of people with a particular and rare set of social gifts”. Gladwell (2000) identified 3 different types of influencer:

Connectors

Mavens

Salesmen

Connectors network across a variety of people, and thus have a wide reach. They are essential for word of mouth communication (Brown and Hayes, 2008)[11]. Mavens look to consume information and share it with others, they are extremely insightful with regards to trends (Brown and Hayes 2008)[12]. Finally, Salesmen are ‘charismatic persuaders’. There source of influence leans towards the tendency of others to attempt to imitate their behaviour. These 3 groups according to Gladwell (2000) are responsible for the ‘generation, communication and adoption’ of messages.

References:
Gladwell, Malcolm (2000). The Tipping Point: How Little Things Can Make A Big Difference. United States: Little Brown. ISBN ISBN 0-316-31696-2 Check |isbn= value: invalid character (help).

Brown, Duncan; Hayes, Nick (2008-01-01). Influencer Marketing: Who Really Influences Your Customers?. Elsevier/Butterworth-Heinemann. ISBN 9780750686006.

Keller's Brand Equity Model [19]
Also known as the Customer Based Brand Equity Model (CBBE), Keller's Brand Equity model conceptualises brand equity with the consumer at the heart. The basic premise of this framework is that the power of a brand is a result of how the customer has learnt, felt, seen and heard about the brand (Keller, 2012). Keller defines customer-based brand equity as the 'differential effect that brand knowledge has on consumer response to the marketing of that brand' (Keller, 2012:69). This framework offers guidance to marketers of how to better build brand equity, through the creation of experiences around the brand. Therefore, consumers can build positive thoughts, feelings and perceptions. In doing so, a consumer is more likely to choose your brand again, as well as recommend you to other people and stay loyal.[20]

References:
Keller, Kevin Lane; Aperia, Tony; Georgson, Mats (2013-03-06). Strategic Brand Management. Pearson Education Limited. ISBN 9780273737889.

"Keller's Brand Equity Model: Building a Powerful Brand". www.mindtools.com. Retrieved 2017-05-06.

Benefits of using metrics
The continued use of marketing metrics can offer an organisation some substantial benefits:

Improved Product Market Alignment:
What is key to correctly aligning product to market is a sound understanding of the end consumer, and subsequently positioning the product correctly to gain the attention of the target consumer. What gives this level of understanding is the continued use and application of metrics. The market is continually changing, metrics accommodate for this [4]

Remaining Competitive:
By monitoring the success of competitor’s strategy, an organisation can learn from the successes and mistakes from competitors and use the knowledge to improve their own organisation. This shall subsequently allow the company to potentially gain an advantage over rivals.

Market Forecasting:
By monitoring future trends (e.g. purchasing, retail, financial), the company are better prepared for what is to come if they apply this data. This leads to better production control, and more accurate marketing and sales alignment.[5]

Improved decision making [6]
With a greater understanding of the end consumers, retailers, wider industry and the company itself the company’s ability to make strategic decisions is strengthened. And with better decision-making, the business is more likely to achieve its strategic goals, for example, increasing market share.

References:
Haaften, Adrian van. "Product > Market Alignment: The True Sign of a Startup Unicorn?". Retrieved 2017-05-06. "Lenskold Article Series". Lenskold Group. Retrieved 2017-05-06.

"CIM | Qualifications, Training and Membership". www.cim.co.uk. Retrieved 2017-05-06.