Lecture 3 Flashcards
positioning
the attempt to influence the mental position of the brand in the mind of the target customer
what are the 3 steps in positioning
segmentation -> targeting -> positioning
what is hte best segmentation strategy
need-based
the are the 3cs?
customer, company, competitor
what are the rootcauses of forgetting the customer
product focussed over customer focussed thinking
hard to know customer needs, specifically unmet ones
in market research they only answer questions you ask
what are the rootcauses of forgetting competition
boiling frog syndrom
narrow frame of reference construction
what is the boiling frog syndrom
the human inability to see small changes in the competition-> they keep adding up
what type of company suffers the most from boiling frog syndrom
market leaders, because they were fine for a long time
what are root causes of forgetting the company’s capabilities
overconfidence
what are the 3 questions
what is our frame of reference
what are the points of parity
what are the points of difference
whats the frame of reference for smaller brands
narrow
whats the frame of reference for bigger brands
broader
what are points of parity
minimum requirements for playing the game
what are 2 types of points of difference
vertical and horizontal
what is vertical
quality/price => different by being better
