Wednesday, July 11, 2012

Brand Glossary—Learning the ABC's of Branding

Always Addressable Customer: An end-user who has the three following criteria:
  • Owns and uses at least 3 data connected devices
  • Accesses the Internet multiple times per day
  • Goes online from multiple physical locations (for example: home, work, in the car, and at the mall)
 According to Forrester Research, "These customers require marketers to think differently about their programs if they want to be effective. To 'Always Addressable Customers,' technology is simply how they live their lives and get stuff done. It means that you can now reach this ultra-connected audience wherever they are, and whenever they need it...But more importantly, now you can provide true service and value to your customers on demand. Research shows that more than a third of all U.S. online adults are already Always Addressable. But this is not an exclusively U.S. phenomenon. In fact, certain demographics in other parts of the world have even greater concentrations of Always Addressable Customers — and the trend is only accelerating."

Repositioning: Because many viable products are initiallly positioned with inadequate resources, repositioning a product through targeted and extensive communication can expand and alter an existing product brand awareness in the existing prospects' minds and/or reach a new market.

Share of Mind: Share of mind is the proportion of thought a consumer has about a particular product in relation to all the brands in its category. In market research, the share of mind can be measured in terms of a positive perception or by its depth when incorporating a company's market position in the research.

Top-of-Mind: Top-of-mind is the highest degree of share of mind, the brand that is named first in market surveys asking about products in a specific category. Obtaining top-of-mind among prospects requires a large share voice by a company in its category.

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