Strategic Brand Management: Final Notes
Strategic Brand Management
Final Study Guide
Entire Book, but focus on Chpt 8-15
Reading: The Anatomy of Buzz- How to Create Word of Marketing- (Has taken significance due to 3 reasons: noise, information overload, skepticism-don’t believe message from companies and connectivity-internet). Takes a network approach. The importance of Buzz depends on the 1. Nature of your product (paperclips vs. movies) 2. The people that you’re trying to reach (younger people are more influenced by peers) 3. Your Customer’s connectivity 4. Your marketing strategy (if you have a contract, buzz is less important) 1. Buzz is an invisible network-You will never really see how buzz moves from person to person. You just need to understand that people need to communicate with one another, and figure out how to get them talking. 2. There are thousands of networks through which buzz flows-These networks are loosely connected with one another. Buzz can start one, but might not jump to another without a push. 3. In every network, there is a person who is the hub-Opinion Leaders(Regular Hub, Mega Hub-celebrity, press, Expert Hub, Social Hub)that person needs to be cultivated so he can spread the work about your product or service. Learn how to identify and engage this person. Reach the hub early! 4. A great product is essential- Contagious products- products that evoke an emotional response (blair witch), products that advertise themselves (wheeled luggage bags), products that leave traces, products that become more useful as more people use them (phones), products that are compatible, products that do the rest. There is no reason to spread buzz if the product isn’t compelling. 5. Networks must be seeded-Before word-of-mouth can take off, each network must be seeded with suggestion, maybe through first-time or free offer, put the product in their hands, reduce price barrier, listen for silence
Rules of Networks- networks are invisible, people link with others like
Final Study Guide
Entire Book, but focus on Chpt 8-15
Reading: The Anatomy of Buzz- How to Create Word of Marketing- (Has taken significance due to 3 reasons: noise, information overload, skepticism-don’t believe message from companies and connectivity-internet). Takes a network approach. The importance of Buzz depends on the 1. Nature of your product (paperclips vs. movies) 2. The people that you’re trying to reach (younger people are more influenced by peers) 3. Your Customer’s connectivity 4. Your marketing strategy (if you have a contract, buzz is less important) 1. Buzz is an invisible network-You will never really see how buzz moves from person to person. You just need to understand that people need to communicate with one another, and figure out how to get them talking. 2. There are thousands of networks through which buzz flows-These networks are loosely connected with one another. Buzz can start one, but might not jump to another without a push. 3. In every network, there is a person who is the hub-Opinion Leaders(Regular Hub, Mega Hub-celebrity, press, Expert Hub, Social Hub)that person needs to be cultivated so he can spread the work about your product or service. Learn how to identify and engage this person. Reach the hub early! 4. A great product is essential- Contagious products- products that evoke an emotional response (blair witch), products that advertise themselves (wheeled luggage bags), products that leave traces, products that become more useful as more people use them (phones), products that are compatible, products that do the rest. There is no reason to spread buzz if the product isn’t compelling. 5. Networks must be seeded-Before word-of-mouth can take off, each network must be seeded with suggestion, maybe through first-time or free offer, put the product in their hands, reduce price barrier, listen for silence
Rules of Networks- networks are invisible, people link with others like