Cha. 5 Flashcards
Involves creating a perception in the mind of consumers regarding the nature of a company and its products relative to competition
Product Positioning
Key elements of product positioning are
1)The way customers view the product 2)The products standing relative to competitors
The unique strength/perception inherent in the most value
Brand Equity
Exists when products, companies/brands are perceived as all the same with no significant differences. Gas Companies(Shell Chevron, Exxon)
Brand Parity
The effect that summarizes the response a consumer has to a product due to the country that is the source, mind of the project
Country-of-Origin Effect
4 Steps to product positioning
- Identify target market 2. Analyse competition within the target market3. Identify points of difference4. Enhance or re-position as necessary
The process of changing consumer perceptions of a brand relative to competitors.
Repositioning
The practice where company leaders exaggerate or even fabricate the degree of a sustainable or green activities taking place in the organization
Greenwashing
3 Strategic Approaches to the overall direction of a company are?
Cost Leadership Differentiation Focus
Focuses on the benefits or value that a product or company provides to customers
Strategic Positioning
The implications where efforts are undertaken to support the position a company’s marketers wish to reach. Product label and package will be altered to fit legal and cultural dictates of a nation.
Tactical Implications
Implications where positioning is successful at this level through communication and consistency. Individuals in the company should be aware of the position of the brand
Operational Implication
