Chp 6

Question 1

Market positioning strategy

Answer 1

Decision a firm makes about which markets to compete in and the specific elements of the marketing mix needed to satisfy. Guides the marketing mix:

• Product
• Place
• Price
• Promotion

Question 2

Market position

Answer 2

How the market reacts to the firm’s marketing programs. Consumer beliefs of the organization’s efforts

Question 3

Market position map

Answer 3

x and y axis, one extreme has a trait, the other has the opposite trait

Question 4

Brand positioning strategy

Answer 4

Relates to the intended image of a product relative to a competing brand for a given competitive space as defined by certain product market or category characteristics.
- Part of the overall IMC plan

Question 5

Brand position

Answer 5

Exists in the minds of the target audience

Question 6

Salient beliefs

Answer 6

Beliefs concerning specific attributes or benefits that are activated and form the basis of an attitude

Question 7

Brand positioning strategy decision process

Answer 7

1) Develop a market partition
2) Assess competitor’s positions
3) Assess brand position
4) Determine brand positioning strategy
5) Implement brand positioning strategy
6) Monitor brand positioning strategy

Question 8

Brand positioning strategy options

Answer 8

• End benefits
• Brand name
• Usage situation
• Product category

Question 9

Differential advantage

Answer 9

A product benefit focus, an edge over competitors

Question 10

Central positioning

Answer 10

The brand claims and delivers on the most salient benefits

Question 11

Brand attribute model

Answer 11

Helps understand what benefits to emphasize in advertising, as the marketer studies consumer attitudes

Question 12

Multi-attribute model

Answer 12

Insight how to influence consumer attitudes

• Influence attribute beliefs (Volvo and safety)
• Influence attribute importance (why killing germs is important)
• Add new attribute belief

Question 13

Types of consumer purchase motives

Answer 13

Informational & transformational

Question 14

Informational motive

Answer 14

Purchase of a product would minimize shortfall

Question 15

Transformational motive

Answer 15

Product provides positive experience

Question 16

Brand repositioning strategy

Answer 16

Developing a new brand position can be very difficult to achieve because of established brand attitudes

Question 17

Importance of repositioning

Answer 17

Consumers, competition, market, and environment may all signal the need for a brand moving from existing position to new position

Question 18

Options for altering brand strategy

Answer 18

• Market definition
• Differential advantage
• Target audience
• Salient motive/purchase motivation