Business Statistics

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Customers judge how relevant your product is to their unique needs.

• Superiority: Customers assess how superior your brand is, compared with your competitors’ brands.

Customers also respond to our brand according to how it makes them feel. Our brand can evoke feelings directly, but they also respond emotionally to how a brand makes them feel about themselves. According to the model, there are six positive brand feelings: warmth, fun, excitement, security, social approval, and self-respect.

Step 4: Brand Resonance – How Much of a Connection Would I Like to Have With You?

Brand "resonance" sits at the top of the brand equity pyramid because it’s the most difficult – and the most desirable – level to reach. We have achieved brand resonance when our customers feel a deep, psychological bond with our brand.

Keller breaks resonance down into four categories:

• Behavioural loyalty: This includes regular, repeat purchases.

• Attitudinal attachment: Our customers love our brand or our product, and they see it as a special purchase.

• Sense of community: Our customers feel a sense of community with people associated with the brand, including other consumers and company representatives.

• Active engagement: This is the strongest example of brand loyalty. Customers are actively engaged with our brand, even when they are not purchasing it or consuming it. This could include joining a club related to the brand; participating in online chats, marketing rallies, or events; following our brand on social media; or taking part in other, outside activities.

Our goal in the last stage of the pyramid is to strengthen each resonance category.

For example, what can we do to encourage behavioural loyalty? Consider gifts with purchase, or customer loyalty programs.

3. Explain your view on the given below statements:

a. “There is no difference in Linear Communication and two way communication process” (5 Marks)

Answer.

In terms of self-opinion there is lot difference between linear communication and two way communication, the same is mentioned below.

In linear model, communication is considered one way process where sender is the only one who sends message and receiver doesn’t give feedback or response. The message signal is encoded and transmitted through channel in presence of noise. The sender is more prominent in linear model of communication.

Linear model has defined set of components required for a communication to be established where

• Sender is the person who sends a message after encoding.

• Encoding is the process of converting the message into codes compatible with the channel and understandable for the receiver.

• Decoding is the process of changing the encoded message into understandable language by the receiver.

• Message is the information sent by the sender to the receiver.

• Channel is the medium through which the message is sent.

• Receiver is the person who gets the message after decoding.

• Noise is the disruptions that are caused in the communication process in channel or in understand ability of the message.

Above are the some highlights which are used for the linear communication. In two way communication there are few extra efforts which differentiate it with linear communication is mentioned below.

b. Radio advertising is not effective in today’s marketing environment” (5 Marks)

Answer.