Download - Lovemarking Strategic Data Mining Model
LOVEMARKING STRATEGIC DATA MINING MODEL
Peter J Stavroulakis
3RD INTERNATIONAL CONFERENCE ON QUANTITATIVE AND QUALITATIVE METHODOLOGIES IN THE ECONOMIC AND ADMINISTRATIVE SCIENCES
MAY 23-24 2013 , TEI OF ATHENS, GREECE
Lovemarks
•Products: Commodities
•Brands: Functional benefits but no consumer emotional attachment
•Lovemarks: Emotional connection with the client
•Fads: No survival despite popularity
Roberts & Lafley (2005)
Depiction
What exactly would we consider a lovemark?
“Corporate brands represent thegrowing effort of corporations atbranding themselves somewhatindependently of their product lines”
Lair, Sullivan & Cheney (2005)
Where will the Corporate Brand be situated?
Lovemark
Neutral Feelings
Negative Attitude (hatemark)
What about our Brands?
The individual Brands
Where will the Brand be situated?
no brand awareness
lacking awareness
brand awareness
somewhat loyal
brand loyalty
The LSDM matrix formulation
The LSDM sectors
Sector nomenclature
• Neglected Child: The firm may have undermined said product
• Incarcerated Uncle: Probably the less appealing state
Sector nomenclature
• Life Partner: The product is a life partner for the segment of the client base.
• Mother-In-Law: The market members select the product but will probably be the first to formulate a strong churn trend
Neglected Child eventuality
Applications
Strategy formulation
Effectiveness monitoring
Comparison of product families and specific brands of the firm
Data mining, mapping and clustering of the client base or target market
Static and dynamic form
Future Directions
Research of applicability
Range of applications
Usability investigation
Thank you for your attention!