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!