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Generative Brand Choice Kevin Lee University of Chicago, Booth School of BusinessOctober 7, 2024 Click here for latest version. Abstract Predicting demand for new products is an important and challenging problem in marketing, especially for product categories where brand is a key driver of choice. In these settings, observed product attributes do not explain choice patterns well, which makes predicting sales of a new product as a function of marketing mix variables intractable. To address this
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01
Identify the target audience for the brand.
02
Gather data about consumer preferences and behaviors.
03
Create a list of brand attributes and values.
04
Utilize generative tools to create potential brand names and logos.
05
Evaluate generated options based on relevance and resonance with the target audience.
06
Refine the choices by testing with focus groups or surveys.
07
Select the final brand choice based on feedback and alignment with goals.

Who needs generative brand choice?

01
Businesses looking to establish new brands.
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Marketing teams aiming to refresh or reposition existing brands.
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Entrepreneurs developing a startup brand.
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Product managers introducing new product lines.
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Brand consultants assisting clients in brand strategy.
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Generative brand choice refers to the process by which consumers create and select preferred brand identities or options based on their personal preferences and experiences.
Individuals or organizations involved in the creation, marketing, or analysis of brand choices, particularly in market research or brand management fields, may be required to file generative brand choice.
To fill out generative brand choice, individuals should outline their preferred brands, provide rationale for their choices, and possibly include demographic insights or behavioral patterns related to their selections.
The purpose of generative brand choice is to understand consumer preferences, enhance brand development strategies, and guide marketing efforts by analyzing the factors that influence brand selection.
Information that must be reported on generative brand choice includes brand names, consumer preferences, choice rationale, demographic data, and any relevant behavioral insights.
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