chapter 5 marketing Flashcards
hard to sustain 4 P’s matches
- high quality, low price
high quality and price position strategy
high price, high quality
exclusive availability, light promotions
positioning statement example
for customers who want (target) our grand is the best at (USP)
perceptual maps lay out
brands close together = similar
brands farther apart = different
product quality by price
- low or high price
- low or high quality
positioning statement questions
who are you trying to persuade
who are you competing with
how are you better
where does PORTER costs down / prices competitive fall in matrix
low price vs. high quality
positioning statement considerations
- target market
- unique selling proposition
porter strategy
- keep costs down and prices competitive
- lead by differentiation
- niche positioning
define positioning
who your brand or company is in the marketplace in regard to the competition and in the eyes of the customer
positioning matrix
companies can’t be great at everything due to limited resources
- marketers determine best position for the firm
what does the USP do
captures product category and what should a customer buy from you and not from one of the competitors?
low quality and price position strategy
low price, low quality
widely available, heavy promotions
what do perceptual maps show
graphical depictions of how the brands and their competitors are perceived in the minds of customers
promotion by distribution
heavy or light promotion
wide or exclusive distribution
