Grovo.com is a vibrant hub of online video tutorials, designed to help you make the most out of sites like Twitter, Facebook, Google, Amazon or Ebay. You can sign up for their free version and have access to most of their content which includes some cool video courses about Google Analytics & AdWords, Facebook Pages & Ads and Online Marketing. Grovo’s content aims to educate and it is not connected with any advertising. Lessons are between 1-2 minutes long and progress from simple to advanced use cases.From my experience it can be very useful if you want to start with some basic knowledge about SEO or just how to create a blog.
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One Useful Internet Tool
Hi everyone,
May be some of you are already familiar with this website, but for those who doesn’t know it I think it will be interesting to see. The website is called http://www.decide.com/ and it is designed to help you with big electronics purchases at the right price at the right time.
In other words, Decide.com uses clever prediction algorithms to warn you if the price of any given electrical product is about to drop, increase, stay the same, or if a new model is about to be released. So you’ll know exactly when to buy the camera, laptop, smartphone or plasma TV that you want to have. It’s a great tool, in my opinion, may be according to some not so practical in your decisions, but it is always fun to check future prices. They give a 77% of accuracy in their price predictions, so go and see if they are right ?
Do you think you would trust it and use it for some future electronic purchases ?
Greetings,
Georgi
Brands Signals and Brand Communities
Brand Equity – Brand equity stands for: the added value that a brand gives to a product. In the perspective of a firm toward the consumer, it’s also called consumer-based brand equity
1) Cognitive psychological view of brand equity:
- Brand association
- Brand awareness
- Perceived value
- Brand loyalty
2) Informational economic perspective
- – Assets based on asymmetrical informational structure of the market
- – Credibility: value signaling toward consumer
Product quality – there are three main ways companies can ensure their reputation and investments for high quality
- NOT cheating: If companies cheat with information about high and low quality, they will lose return on their brand investments and the total reputation of the company.
- Marketing mix elements as signals: most companies uses advertisements and packages to provide quality signals toward the consumers who doesn’t know enough information about a product
- Umbrella branding: same name used for many products as a signal that new launched products have the same quality as other products of the brand.
Brand as signal – A brand becomes a signal when the marketing strategies of firms in the past and present are symbolizing the firm. An importance of a signal is also characterized by credibility and clarity.
Clear brand signal : Decrease information costs
Decrease perceived risk by the consumer
Increase the consumer utility
Brand community – A community formed on the basis of attachment to a product or marquee. Recent developments in marketing and in research in consumer behavior result in stressing the connection between brand, individual identity and culture.
Community Characteristics:
- Consciousness of Kind – the existence of a common enemy against whom to unite makes this brand community particularly strong.
- Rituals and Traditions – sharing brand stories and celebrating the history of the brand
- Moral Responsibility – include looking out for and helping other members in their consumption of the brand as well as retaining old members and integrate new ones
Two examples of a good and bad brand community: Continue reading Brands Signals and Brand Communities
Consumer Value Creation 