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KEY
Important
concept
AGENDA
Nurture Authenticity
Innovating Value Propositions
Innovating along the Customer Experience
Product Lifecycle and Market Lifecycle
The Value of Brands
3
AUTHENTICITY
How can a company be considered
authentic
by consumers?
Authenticity is a concept
that lets the company reconcile
TRADITION with INNOVATION
Why autheticity matters
4
AUTHENTICITY
Brands seek their aura of distinction and pedigree through allusions to time and
place. (Alexander, 2015, p.1)
Authenticity may be dened objectively by the process of creation and the physical
materials used in the creation process or by constructive values that are subjective and
derived from users perceptions of authenticity (Chhabra, 2005)
Constructive authenticity allows for dierent interpretations of reality on the basis of
consumers projections onto objects (Leigh et al., 2006, p. 483)
Existential authenticity is a product of postmodern consumers orientation toward
pleasure which is brought into being through the liminal process of activities (Leigh et
al., 2006, p. 483)
AUTHENTICITY
PRODUCT
AUTHENTICITY
PRODUCER
AUTHENTICITY
PRODUCT AUTHENTICITY
There are three aspects dene the authenticity of a product:
PRODUCT AUTHENTICITY
TRADITIONAL METHODS OF PRODUCTION
The production
process inuences
the product's overall
evaluation.
A company that
wants to exploit
Parmigiano
Reggianos fame has
to respect its strict
rules of production.
Source:
h=ps://en.wikipedia.org/wiki/Parmigiano-Reggiano#/media/File:Parmigiano-Reggiano.png
e.g.
PRODUCT AUTHENTICITY
Champagne and Prosecco are both sparkling. But what
makes them so dierent and so authentic at the same time?
Why are they dierent?
The methods of production
source: http://winefolly.com/review/champagne-vs-prosecco/
BeFood Interviews:
Paolo Ziliani
VicePresident
Guido
Berlucchi
&
C
S.p.A.
10
PRODUCT AUTHENTICITY
HISTORY
Having a long history behind a brand can increase the trust that
consumers have towards it.
Source:
h=ps://www.google.it/search?q=since
+1800&espv=2&biw=1422&bih=1025&source=lnms&tbm=isch&sa=X&ei=tX2BVbamGImUsAGz9L_4Ag&ved=0CAYQ_AUoAQ&dpr=0.9#tbm=isch&q=de+cecco&imgrc=XdYGMfIoZIzMQM
%253A%3Bg7w1LKpJ48v-EM%3Bh=p%253A%252F%252Fwww.jdaliments.com%252Fwp-content%252Fuploads%252F2014%252F08%252FDeCeccoLogo.jpg%3Bh=p%253A%252F
%252Fwww.jdaliments.com%252Fporeolios%252Fpasta%252F%3B1181%3B465
11
PRODUCT AUTHENTICITY
TERRITORY
Source: h=p://www.vinosite.com/wp-content/uploads/2011/03/20-nagve-varieges-vino-blog.jpg
12
e.g.
PRODUCT AUTHENTICITY
Coca-Colas history
13
PRODUCER AUTHENTICITY
Three characteristics dene the producer authenticity:
PRODUCER AUTHENTICITY
Heritage
Commitment
Social orientation
15
AUTHENTICITY
Authenticity includes
both:
Tradition
Exploiting the product
authenticity
Based on history
Innovation
AND
AUTHENTICITY
e.g.
SWEDISH VODKA
FRENCH VODKA
GERMAN GIN
JAPANESE
WHISKEY
17
BUILDING AUTHENTICITY
The company has to identify which components of its
HERITAGE
HISTORY
COMMITMENT SOCIAL
ORIENTATION
REPUTATION
COMPETENCE
can be recognized
by consumers
as
AUTHENTIC
18
COMMUNICATING AUTHENTICITY
Once the company has found the components to stress, it has to dene a
19
COMMUNICATING AUTHENTICITY
Consumers identify three dierent types of authenticity when they read adversiting: pure
(literal), approximate and moral. (Beverland, 2008)
[..] using advertising to project an image of authenticity is dicult because methods of
mass marketing are believed to undermine such claims (Beverland and Luxton, 2005)
Stern (1994) posits that even though advertisements are representations of reality, they
are still considered authentic if they "convey the illusion of the reality of ordinary life in
reference to a consumption situation" (p.388). (Chalmers, Tandy D., 2008)
20
AGENDA
Nurture Authenticity
VALUE PROPOSITION
The customer value is composed of
a set of benets that the organizations oering can provide and
the set of sacrices that the customer has to make in order to enjoy the
benets provided by the organizations oering.
Benets represent the
positive side of what
consumers get from
consuming a specic
product/service: they can be
either psychological,
economic, or functional.
VALUE PROPOSITION
How can a company innovate this ratio?
Benets
Benets
Benets
Sacrices
Sacrices
Sacrices
Increasing
benets
Simplication
Decreasing
sacrices
23
e.g.
VALUE PROPOSITION
WINE INDUSTRY
Competition
transformed wine into a
complex product.
24
COMPONENTS OF VALUE
PROPOSITION
Innovation can involve dierent components of the value
proposition:
PRODUCT
DISTRIBUTION
PRICE
SERVICE
25
COMPONENTS OF VALUE
PROPOSITION
PRODUCT
Ingredients
Companies can modify their
products by either adding or
subtracting ingredients.
source:https://m1.behance.net/rendition/pm/143147/disp/856981225715285.jpg
http://www.myamericanmarket.com/components/com_virtuemart/shop_image/product/COCA_COLA_CHERRY__x6__400.jpg
26
COMPONENTS OF VALUE
PROPOSITION
PRODUCT
Method of production
Companies can innovate their
production method.
Source: http://www.brewdogbar.se/wp-content/uploads/BrewDog-core-range.png
27
COMPONENTS OF VALUE
PROPOSITION
PRODUCT
Occasion of usage
Companies can urge or cause
consumers to consider their
product for new occasions of
usage.
Source: http://coolmaterial.wpengine.netdna-cdn.com/wp-content/uploads/2013/10/Heineken-Sub-1.jpg|
https://www.philadelphia.co.uk/~/media/Philadelphia/en/Images/Brands/press_ad_06.jpg
28
COMPONENTS OF VALUE
PROPOSITION
DISTRIBUTION
Distribution identies the
way that the product is
provided through.
Companies can renovate the
way that consumers buy the
product or the service.
Source: http://a1.mzstatic.com/us/r30/Purple3/v4/ca/7c/fd/ca7cfd3e-27bf-71ca-d2ad-3ec6f3c64b17/icon320x320.png
http://lincolnpizza.co.uk/wp-content/uploads/2011/09/Late-Night-Window-Cling-lr_2.jpg
29
COMPONENTS OF VALUE
PROPOSITION
PRICE
30
COMPONENTS OF VALUE
PROPOSITION
SERVICE
Companies can give
consumers the
opportunity to enjoy
the product or the
service based on their
specic needs and
occasion.
Source: http://www.nutella.com.au/static/nutella/images/products/nutella-products.png
31
BeFood Interviews:
32
AGENDA
Nurture Authenticity
Innovating Value Propositions
33
CUSTOMER EXPERIENCE
The customer experience is composed of four stages:
PRE-CONSUMPTION
PURCHASE
CONSUMPTION
POST-CONSUMPTION
34
CUSTOMER EXPERIENCE
PURCHASE
EXPERIENCE
CONSUMPTION
EXPERIENCE
EXPECTED
VALUE
PERCEIVED
VALUE
PRECONSUMPTION
EXPERIENCE
EXPECTED
VALUE
PERCEIVED
VALUE
POSTCONSUMPTION
EXPERIENCE
(DIS)SATISFACTION
35
CUSTOMER EXPERIENCE
Pre-Consumption
Can an
advertising
campaign
drive
consumer
choices?
Absolute AD
Source:https://postmedialeaderpost.les.wordpress.com/2014/07/coke-can-e1405370395240.jpg | https://artitudeusj.les.wordpress.com/2013/04/absolut004.jpg
36
CUSTOMER EXPERIENCE
Purchase
Subway
Source:
http://www.wine.com/v6/Dom-Perignon-Limited-Edition-MetamorphosisRose-in-Gift-Box-2003/wine/134791/Detail.aspx
37
CUSTOMER EXPERIENCE
Consumption Experience
38
CUSTOMER EXPERIENCE
Post-Consumption
Source: http://www.sararosso.com/wp-content/uploads/SaraRosso_MyNutellaStory-1024x583.png |
http://www.bullbrand.co.za/your-story
39
AGENDA
Nurture Authenticity
Innovating Value Propositions
Innovating along the Customer Experience
40
TIME
Tradition and innovation should be seen within
the concept of time.
PRODUCT
LIFECYCLE
MARKET
LIFECYCLE
41
MARKET LIFECYCLE
A market consists of a set of actors who interact to exchange goods,
services, reputation and information. These activities and additional
actors who exert their inuence form the basis for this interaction
The market lifecycle relates to dierent stages in the life of a market
based on a time unit (weeks, months, or more often years) and the
supply-demand dynamic (I.e. sales). The latter can be expressed with
product units or values.
42
MARKET LIFECYCLE
SALES
Unlikely
to
happen!
TIME
43
MARKET LIFECYCLE
Introduction:
In this stage sales are usually limited and sale growth is slow.
There are only a few competitors (in some cases only the innovator who created the
market) and not many customers.
The objective of competitors in the market
creation stage is customer education.
Growth:
44
MARKET LIFECYCLE
Maturity:
When sales stabilize and sales growth by and large stops. Since
potential customers are now actual customers, product purchases tend to be
substitutions and there are few entirely new customers. Maturity for most of the
markets is the longest stage, so sales may uctuate somewhat due to changes in the
macro-context.
Decline:
This stage occurs when market growth decelerates ever more rapidly,
dropping to the levels of the introduction stage and dipping lower, even to the point
of disappearing. Decline in this context is mainly theoretical, because after expansion
and contraction, along with competitors relaunching and revitalizing their products,
very rarely does a market actually reach this stage.
45
PRODUCT LIFECYCLE
SALES
Likely to
happen
because
products
can lose
their value
TIME
46
DYNAMIC BETWEEN
LIFECYCLES
Dynamic between the two life cycles is fundamental for companies to take
decisions.
The lifecycle is an endogenous process.
SALES
Product
TIME
47
PRODUCT LIFECYCLE
The shape of the product lifecycle is inuenced by:
CONSUMERS
COMPETITORS
SALES
TIME
48
Consumers
SALES
Late
majority
Early
majority
Early
adopters
Laggards
Innovators
TIME
49
Consumers
Innovators:
Have distinctive traits: a low aversion to risk, a tendency to be nonconformists, and a strong desire for social distinction, close connections with sources
of innovation, and marked interest in new trends in general.
Early Adopters:
50
Consumers
Early and Late Majority:
Laggards:
51
Competitors
Imitation-Dierentiation Game
New entrants have to imitate but also try to
innovate with respect to incumbents
It stimulates sales overall
Companies have to choose whether to
Innovate:
LAUNCH A NEW
PRODUCT
Renovate Tradition:
OR
REVITALIZATION
52
PORTFOLIO SOLUTION
Companies may have both
innovation and tradition
in the same portfolio,
oering both
conservative and innovative
products.
Source:http://upload.wikimedia.org/wikipedia/commons/c/cb/Coca-Cola_Life_0.5_liter.jpg | http://stander.it/wp-content/uploads/Coca.jpg
53
AGENDA
Nurture Authenticity
Innovating Value Propositions
Innovating along the Customer Experience
Product Lifecycle and Market Lifecycle
BRAND
A brand is a set of symbols
that distinguishes a product of a company from a competitors one.
A brand is a set of mental associations, held by the consumer, which add to the
perceived value of a product or service (Keller, 1998).
These associations should be unique, (exclusivity), strong (saliency) and positive
(desiderable).*
55
BRAND
Food and beverage products are experience goods
source: http://wijnbloggers.nl/wp-content/uploads/2012/12/champagne-veuve-clicquot.jpg
; http://www.winereviewonline.com/images/labels/moet_chandon.jpg
56
BRAND EQUITY
Brand Equity: The extra value that the brand adds to the product when the
customer knows the brand.
It is composed of:
Brand Awareness
Brand Image
POSITIONING
Positioning: Where your product stands in respect to others
oering similar products in the mind of consumers.
Without a dierence
there is no preference.
58
e.g.
POSITIONING
Can you perceive any dierence?
Source:http://www.cosmo.com.ua/upload/image/marc-jacobs-diet-coke6.jpg https://wanphing.les.wordpress.com/2011/05/diet_pepsi_skinny_can_ad.jpg
59
BUILDING A POSITIONING
In order to build a positioning
companies should link to the brand
some associations which have to be:
F A V O R A B L E
U N I Q U E
R E L E V A N T
60
BUILDING A POSITIONING
Primary Associations: Are associations that are directly connected to the
brand such as:
- Attributes of the product
- Benets provided by the product
- Value behind the product
- Competitors
61
BUILDING A POSITIONING
Secondary Associations: are associations that are linked to third parties
that have a link to the brand, such as:
- Awards
- Country of origin
- Events
- Co-branding
- Celebrity Endorsement
- Distribution channels
- Characters
62
BRAND ELEMENTS
Brand Elements: are visual elements that distinguish the brand from
competitors ones.
PACKAGE
JINGLE
NAM
E
LOGO
&
SYMBOLS
SLOGAN
CHARACTER
URL
63
BRAND ELEMENTS
Brand elements provide value for consumers in two dierent ways:
64
LINKS
Why autheticity matters
Subway
Jager bond
Berlucchi
Yellowtail
Joia
Coca Cola AD
Coca Cola AD - vimeo
Pinterest Board
Absolute AD
65