An increase or reduction in consumer demand will affect several layers of demand in related markets.
Acceptable Price Range
Consumers expectation regarding the price of a product and/or category; consumers are unwilling to buy goods that are priced too low, for fear that the product will be inferior, or too high because the expected benefit is believed not to be worth the price.
Factors that reduce the size of a market by preventing potential customers from purchasing a particular product. (e.g., tariffs and legal restrictions)
Ability for a brand to reach and adequately serve its target market.
The process by which people in one culture or subculture learn to understand and adapt to the norms, values, lifestyles, and behaviors of people in another culture or subculture.
A plan detailing how major tasks will be managed and implemented, who will do them, and when.
Ability for a brand to add perceived and/or actual value to a product or service as a result of a particular activity. (e.g., quality, exclusivity, fashion)
Consumer decision to purchase one brand over another.
Underlying principles manifested by outward appearances of style—look and feel.
The services received after the original goods or services have been paid for. Often, this service is provided as part of a warranty or guarantee.
A reference group that an individual consumer wants to join or be associated with.
An environment, typically retail, designed to best express a brand and enhance the brand experience. The elements that contribute to atmospherics range from architectural layout, surface materials, and lighting to sound, temperature, and kinetics.
Leveraging the same point of difference as a competitor in an attempt to overtake the position.
The tangible and intangible brand characteristics, measured in terms of strengths and weaknesses, facts and opinions.
The target consumer segment who the brand message aims to address.
Possessing attributes or characteristics that provide a consumer with a reason to believe that an offering is superior. These may include: Certifications (e.g.: Certified Organic), Country of Origin (e.g.: Made in Germany), Region (e.g.: champagne), Technology (e.g.: Gortex), Ritual (e.g.: Carona's slice of lime), Materials (e.g.: genuine leather), Process (e.g: Budwiser - "beach wood aged"), Heritage (e.g: hand made)
The retail sale of goods or services by means of a vending machine.
The percentage of population or target market who are aware of the existence of a given brand or company. There are two types of awareness: spontaneous, which measures the percentage of people who spontaneously mention a particular brand when asked to name brands in a certain category; and prompted, which measures the percentage of people who recognise a brand from a particular category when shown a list.
The group of competitive brands of which a consumer is aware.
A study of consumer's recognition and familiarity of a brand.