Brand Positioning and Brand Values Flashcards
What are the stages of brand development in Keller’s customer based brand equity pyramid?
- Identity: Who are you? (Salience)
- Meaning: What are you?(performance and imagery)
- Response: what about you? ( judgements and feelings)
- Relationships: what about you and me? (Resonance)
What are the branding objectives at each stage of the CBBE model pyramid?
- Deep, broad brand awareness
- Points of parity and difference
- Positive, accessible reactions
- Intense, active loyalty
Define marketing
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large (AMA,2007)
What is segmentation?
Diving the total market into smaller segments : selecting customers to serve (part of creating value for targeted customers)
What is targeting?
” dividing a market into smaller segments with distinct needs, characteristics or behavior that might require separate marketing strategies or mixes”
Selecting the segment of segments to enter (part of selecting the customers to serve)
What is differentiation?
This is part of deciding on a value proposition:
- differentiate the market offering to create superior customer value
What is positioning?
This is also parts of deciding on the value proposition
- it’s about positioning the market offering in the minds of target customers
- at the heart of marketing strategy
What two questions does marketing boil down to? what is the main goal?
- Which customers will we serve?
- How will we serve them?
Goal is to create more value for the customers we serve than competitors do.
What are the segmentation bases for consumers?
- Demographics (Income, age, sex, race, family, occupation, religion)
- Geographic (international, regional, states, countries)
- Values ( values, attitudes, interests and opinions)
- Behavioral (user status, usage rate, usage occasion, brand loyalty, benefits sought)
What are the segmentation bases for businesses?
- Nature of goods (kind, where used)
- Buying condition (purchase location, the buyer, type of buy)
- Demographic (post code, number of employees, sales volume, number of establishments)
What are the requirements for effective segmentation? (4 things)
- Identifiable (can it be identified?)
- Substantial (is sales potential big enough?)
- Accessible (can the market be access through media and distribution channels?)
- Responsive (will the segment respond favorably?)
What is market targeting? (target markets) and what are they evaluated based on? (3 things)
Selecting target market segments
- target markets consist of a set of buyers who share common needs or characteristics that the company decides to serve
- these are evaluated based on:
1. Segment size and growth
2. Segment structural attractiveness
3. Company objectives and resources
What is the differed between POD’s and POP’s?
Pod’s: are points of difference; attributes or benefits consumers strongly associate with the brand, positively evaluate and believe they can’t find to the same extent with a competing brand
(USP, Competitive advantage)
Pop’s: are those associations that may be shared with other brands, however consumers view them as necessary to be a legitimate and credible product offering within a certain category.
How do companies choose POD’s? (DDBR) and ( FCS)
- consumer key criteria:
- desirability: (what consumers want)
- distinctive
- believable
- relevance - Deliverability: (what brands are able to do)
- feasible
- communicable
- sustainable
What is the significance of brand mantras?
- an articulation of the heart and soul of the brand. Such mantras are three to five word phrases long that capture the essence or spirit of the brand positioning and values.
Brand mantras are the brand promise and association
