MAR051-6 Digital Marketing Strategy
MAR051-6 Digital Marketing Strategy
Assessment 1: Literature review
1.1 Introduction
Digital marketing aids businesses in effectively promoting their services and products to their customers. It also helps businesses to increase the reach of customers. The decision-making process of the customer and brand personality are the two things that are very much associated with digital marketing. In order to effectively manage digital marketing it is very much important to get knowledge on these two things. In this section, a detailed knowledge of both brand personality and customer decision-making is presented. The methodology to gather effective data to review the past literature is also presented. The influence of brand personality in “consumer decision-making” and issues related to brand personality is analyzed. Further, an effective theory to get more knowledge about decision-making is discussed in the theory section. In the discussion, some important aspects related to both decision-making and brand personalities are discussed for the improvement of their relationship.
1.2 A clear understanding of the subject
1.2.1 Brand Personality
“Brand personality” is the term that indicates the human characteristics associated with a particular brand name. A brand can enhance its “brand equity” by addressing different traits that are linked with the targeted customers. Personality is an example of “qualitative value” that a brand gains besides different functional benefits. It is the brand personality that helps customers to better relate to the company’s products and services (Baştuğ et al. 2020). One can say that brand personality is a kind of framework that enables organizations or the company to control people’s feeling about the company’s service, mission and products. It is seen that the brand personality of an organization influences consumers to deliver emotional responses. In this case, the intention of the company is to influence customers to take action that can benefit the organization of the business firm.
Customers are very eager to buy business products in case there is a similarity between the individual personality and the personality of the brand. The traits associated with brand personality are five types: sincerity, competence, excitement, ruggedness, sophistication and competitiveness (Carpentier et al. 2019). It is found that brand personality is facing more relevant in the digital business than in the conventional business process. Artificial Intelligence and automation are some technologies that are becoming more popular in modern business. Different companies with the help of these technologies are able to predict the demand of different customers at different times (Coelho et al. 2020). The number of customers on online platforms is rising with the development of technology and time’s progress. However, companies are trying hard to match customer preferences still the customers want to interact with the company. This is the reason companies need to work on enabling” direct customer service” (Vinyals-Mirabent et al. 2019). Luxury brands like Louis Vuitton and Gucci are focusing on targeting upper-class customers. Therefore, in brand personality, the company are redeveloping their products in a way so that upper-class people are able to better relate to company products.
1.2.2 Customer decision making
The decision-making ability can differ from customer to customer but all the customers go through some basic procedure. Customers before making any buying decision analyse individual needs, conduct market research and match individual willingness with the accumulated information (Yang et al. 2022). The whole customer decision process can be categorized into five main basic steps. The first step is about recognizing the individual need for a product or service. The need can be created with both external and internal factors. It is after successfully recognizing individual needs one searches for the relevant information so that the plan to reach the need can be prepared.
During the research process, the customers gain dependent on external and internal business factors. Apart from that the present and past interaction of the customer with a particular brand also creates negative or positive perceptions. In the conventional business process, customer search for information on the physical stores of a company. However, in digital marketing customer search for information on different e-business platforms and compare them. Customer reviews and feedback are the elements that shape the customer’s belief in the company. It is observed that the customers are influenced by the other customer more than the information shared by the business. Therefore, different companies need to work on improving customer perception to increase the trustworthiness of new customers. In the third stage, the alternatives of the selected products are evaluated (Liu et al. 2019). In case the alternative products are not effective enough to bring newness to the product category the customer finally makes the decision of purchasing. In the “post-purchase decision” customers analyze whether the company is able to fulfil customer demand or not.
1.3 Methodology
1.3.1 Data collection
One can categorize data collection into two main divisions: Secondary and Primary. Further, these two data groups can also be divided into qualitative and quantitative based on nature. In getting the appropriate data for the literature review “secondary qualitative data collection” are followed in this study. This study helped to get accurate literature based on the particular topic. Further, with the help of secondary data, the success and failure of creating business personalities by different companies are realized. The evaluation of the secondary data also helped researchers to decide on the right theory or model for the topic.
1.3.2 Data analysis
There is multiple secondary data analysis process that is used in deciding the nature of the study. In order to effectively analyze the past literature here “descriptive analysis method” is used. Various scholars believed that this analysis method aids researchers to know about the relationship and the trend of various research elements. Similar to the relationship between “customer decision-making” and “brand personality” is clearly observed by the application of descriptive analysis.
1.4 Integration of Literature/strands of Research
1.4.1 The Importance of brand personality on Consumer decision making
Customer behaviour can be impacted effectively with the help of brand personality. A company that has a strong “brand management strategy” are able to gradually improve the usage and likeness of the customer on company products. According to Iglesias et al. (2020), the brand personality of any company serves as the vehicle to present the “functional benefits” of a brand. An effective brand personality can reflect the customer’s identity. In order to motivate customers the buying the product of a company it is necessary to differentiate the brand from another company brand (Fernandes and Moreira, 2020). Brand differentiation not only indicates mere differences from other companies. It can also deliver the sufficient reason behind buying the brand.
The distinctive quality that can separate a brand from all other different brands can be the tagline, logo, colour, packaging style or the symbol of the business. As per Zak and Hasprova (2020), the use of advertising strategy, sponsorship and “in-store display” has also the potential to differentiate a brand. Markers often use these qualities to represent “competitive advantage” while comparing with other brands. It is witnessed that modern customers have the general tendency to represent themselves with their preferable brand. “Self-control theory” indicates that consumers are inspired to buy brands because of symbolic value. Moraes et al. (2019), believed that brand personality delivers higher symbolic value than the brand’s utilitarian value. Consumers witness the products of their favourable brand as the extension of their “self-consistency”. “Self-esteem” and “self-consistency” are improved while the customers are able to buy the products that they liked most.
It is the perception or the belief that customers created in their minds due to brand personality called brand image. It is noticed that the brand image is very much focused on psychological and cognitive elements. These include mental constructs, attitudes, feelings and expectations. The brand message is the only way of differentiation of brands in which there is a lesser chance of differentiation in other ways. It is previously mentioned that the symbolic meaning of the brand makes a higher impact on the customer’s mind than any other thing. In most cases, it is seen that the functional meaning of the brand is less relevant than the symbolic meaning it delivers. Different scholars think that the purchasing behaviour of customers is dependent on two main aspects (Essamri et al. 2019). The first aspect is the association of self-concept with the “brand personality”. The other aspect is the interaction of customers with the other customer groups. The attitude of the customers is in direct relation to the brand personality. The more a company is able to match customers’ needs the more can “positive attitude” among the customer can build about the brand. Purchasing intention, brand distinctiveness, and brand image are all part of brand personality. It is through the help of these elements the main goal that is “higher brand value” is ensured.
1.4.2 Challenges Associated with brand personality
Brand personality is considered an integrated aspect of business development. It not only helps in increasing the knowledge of consumers but also helps in giving an identity. It is with the use of the right tactics and the right platform various businesses are able to build a strong brand personality. On the other hand, there are some business groups that are not able to develop effective brand personalities effectively. The most common challenge that is witnessed in the case of brand personality is to lack ability in preparing a “well-defined strategy” (Mogaji et al. 2022). Although these brands are able to improve customer attitudes toward brands but are not able to maintain consistency. The effort of a successful brand is on providing “consistently memorable experiences” to the customers. The only way to curtail these types of issues is to increase the commitment of the organization towards its brands. In increasing the commitment the company needs to have a strong justification for the meaning of the brand. Further, the influence of company employees also can improve the situation of the company and increases the committing power (Hanna et al. 2021). The companies with this approach are able to deliver all the elements that it aims to deliver to the targeted customer group.
It is not possible to separate creativity from the differentiation process. Companies with a number of creative employee groups are able to continually improve the quality and the design of their products. In customer retention and long-term customer impression creation creativity has a crucial role. The “lack of creativity” imitates the potential of the company in addressing the need of the targeted customer group. In business competition also company gets negative results as their competitive groups with innovative solutions are able to reach more customers. The development of products in the absence of a “brand foundation” also affects brand personality. A Brand’s value, purpose or vision is defined with the help of a brand foundation. The ignorance of “brand foundation” can cause companies to build products that are more inconsistent. According to Vinyals-Mirabent and Koch, (2020), mismatching the desired or promised products with the actual product can affect the customer in a negative way. Some business has the wrong perception that branding is a one-time procedure. However, in actuality, the company has to maintain the brand promise in a consistent manner after the brand is developed.
In increasing the speedy manufacturing process business often try to skip some of the steps associated with the production process. Thereby, products are not developed in the way the customer expects from that company. A“Key Performance Indicator” is an effective way of defining whether the production process addresses all the production criteria or not (Paetz, 2021). Besides companies also need to increase the monitoring power so that it became possible to get updates about the production process.
1.4.3 Theory
Decision theory
The main discussed thing in this theory is to analyze the process through which an agent or the people’s choices. The logic behind taking a particular decision can also be learnt with this theory. The impact of this theory on this study is that companies are able to increase their understanding of the “decision-making process”. These understandings can help to better shape the brand personality of a company.
According to this theory, human decisions are of two kinds: Optimal decisions and Normative decisions. The main priority of “optimal decision theory” is the reason for a specific decision. In determining the reasons the individual assumptions made by the person during the decision-making process are analyzed. In contrast to the optimal decision, the normative decision is very much focused on the results of a decision than the reasons. In order to understand the outcomes the necessary aids are taken from “optimal decision”. Unlike the ”optimal decision” normal decision-making processes can be considered the ideal decision-making in a specific situation (Blume et al. 2021). It is often seen that markets use consumer behaviour as a tool to create a more strong brand. It is practical for the business to develop predictive models with the guidance of the theory. Modern companies can prepare their brand on various digital platforms in a way so that the customer is able to address it effectively. In spite of the benefits, there are some uncertainties are associated with decision theory: Actions, consequences and states. The strategic management of this uncertainty can reduce the risk of applying this theory in actual business scenarios.
1.5 Discussion
“Brand Personality” is a business aspect that requires time and systematic planning for development. Online businesses can double the benefits of their businesses by developing their brand personality with a systematic process. The common mistake that most business faces is about deciding “who they are” after delivering their “brand message”. In the majority of cases this is the reason that the business resource, money and time are wastage. It is recommended for the business to first prepare its core value and then enter the market. A good core value is always indicative of the priority of the company (Ramírez et al. 2019). Once a core value is determined it acts as a foundation for the business. The values need to differentiate the business from the other “non-distinctive businesses”. The second important thing is to prepare all teh necessary elements that can support the determined core values.
It is an effective way to prepare a list of different customer traits while communicating with family and friends. The analysis of the characteristics can aid in determining these characteristics in the individual business. Further, relying on the effects a suitable way to address the different people can be produced. The personality that is selected for the brand needs to be reflected in the customer group. It is necessary to stay away from making assumptions about the target market rather than searching for the actual target customers (Bayighomog et al. 2020). The conversation with the various customer group, continuous monitoring and additional market research can benefit companies to reach the desired customer group. The process through which a customer perceives an individual brand among all other similar brands can help businesses to modify their actions. The power of a brand is often dependent on the brand’s voice. A brand voice is the mixture of both the individual personality or idea and the desired way of describing brands in front of customers. Once a detailed definition of a brand is prepared business leaders can gather feedback from the immediate business members (Paul, 2019). It helps in getting an idea about the implications of the voice on the customer. “Save Money, live better” is the brand message of Walmart which easily help customer to think about affordable quality products.
There are four different ways in which any business can increase its core value. The important thing that is effective for business and that can serve as motivation is called the core values. It is not the business goal but the similarity with them to customer goals is also required. A robust core value can satisfy both the customer as well as the necessities of the business. Companies have to ensure the value that is linked with the product during the sale of products. For Example, the core value of Nike is “Just do it”. It is after observing the valued customer can like the product with the message. There is no harm in getting inspiration from other successful companies. Although, the value of the company can differ the approach to retaining customers and satisfying customers can be learnt from the successful company (Santiago, 2020). There are some instances in which it is observed that the companies are very much apprehensive about the appropriate processes. It is the too much apprehensive causes delay in developing the brand. The effective process, in this case, will proceed as per the existing business requirements and type of customer.
1.6 Conclusion
On a concluding note, it can be said that the brand personality of a company is related to customer satisfaction. The people that are more satisfied with the company’s products have a higher tendency to purchase or repurchase company products. Brand personality is the result of different things associated with the company and customer. Brand image, the intention of the customer, and the value of the brand are all elements of brand personality. A suitable brand can increase the participation of the customer. On the other hand, an inconsistent brand can motivate customers from buying the products. The scarcity of knowledge and the inconsistent way of managing a brand can restrict a particular brand to develop. The theory that is mentioned can reduce all the doubts of the business in terms of the “decision-making” procedure. It is assumed that the company can be built their brands with such a process so that it qualifies all the processes of “customer decision-making”. In long-term development and increasing business profitability, the brand personality can take a vital role in future also. Digital businesses can increase their business potential through the prioritisation of decision-making and brand personality aspects. The positive customer responses to a particular brand can motivate to develop more such brands and increase the business revenue.
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