Transcript
A (0:00)
Nerd Alert. Learning is important, right?
B (0:02)
Yes, exactly. What a bunch of nerds.
A (0:04)
Nerd alert. That's right.
B (0:06)
Marketing Architects. Hello and welcome to the Marketing Architects, a research first podcast dedicated to answering your toughest marketing questions. I'm Alena Jasper. I run the marketing team here at Marketing Architects. And I'm joined by my co host, Rob demars, the chief product architect of misfits and machines.
A (0:23)
Hello, hello, hello.
B (0:24)
We're back with your weekly Nerd Alert. Every week I'll take a deep dive into academic marketing research and translate its complex ideas into simple, understandable language for Rob, and of course, for all of you. Are you ready to nerd out, Rob?
A (0:35)
I am really parched, Elena, and ready to chug from the fountain of empirical data. Just pardon me if I belch up a pivot table.
B (0:44)
I like that one. Okay, let's get into it. Today we are getting into branding. And this is not the let's pick a color type of way, but the deeper question of whether how you brand actually changes what people buy. Rob, quick question before I announce the study. When you're grabbing something off a shelf, say you've never purchased it before, what makes you reach for one thing over another?
A (1:08)
I'm going to go with familiarity. If I'm at an aisle and I perhaps have heard of the brand in that category, even though I haven't been a buyer before, or if I associate the brand, say it's like a arm and hammer and I'm buying some type of spray, even though it's not what I know arm and hammer for, I might go, I'm opting for that one. That's one. But then two, I look at the price at that point and I go, okay, well, how much is price a variable? And if all things are being equal or even if the price is just a little bit more, I'm going with a name that's somewhat planted in my noodle.
B (1:47)
I think that's what most marketing research finds is it's not as considered as you might if one thing looks familiar, it stands out, we're more likely to choose it. So this paper, it is called Impact of Branding Strategy on Consumer Buying Behavior. It's by Balgopal Singh and it was published in the Research Journal of Arts, Management and social sciences in 2013. This study specifically looked at fast moving consumer goods or fmcg. That would be things like soap, toothpaste, snacks, and laundry detergent. Those are products that we buy constantly on autopilot. And the research wanted to know, does the type of branding strategy A company uses actually influence how consumers buy. So these sort of fast moving products are notoriously hard to differentiate. One detergent could look and act like another. So branding, your name, your logo, your positioning, it ends up doing a lot of the heavy lifting. It's actually shaping how people perceive your quality and your value before they've ever tried your product. So this paper, it focuses on Kevin Keller's foundational definition of branding strategy. So he defines it as the decisions a company makes about which brand names, logos and symbols to apply to which products and how new products connect to existing brand identities. So that's looking at if there's like a parent company brand, they're releasing sub brands, what is that going to look like? So there are a lot of different approaches that companies use when they're branding new products. One is corporate branding. This is when the company name is front and center about everything. So that's sort of an umbrella. The second is a house of brands or multi branding. So that would be you're running multiple distinct brands. They don't necessarily look related. The third is sub branding and co branding, which blends elements of both. Kind of confusing. And the fourth is mono branding, where each product stands completely on its own identity. So, Rob, I know these are kind of hard to separate.
