session 4 Flashcards
What is positioning
orienting your marketing actions to meet the needs of the target segment
what is a positioning statement
its a statement that outlines the essence of their strategy. it defines the value proposition of a product to the target segment.
What questions does a positioning statement answer
Target segment: who is our customer/their needs
Frame of reference: What other options are out there
Point of difference: What is unique about our offer
Positioning must be
defensible, simple, focus on key benefits
positioning requires
making choices
Positioning - key concepts
Points of parity: associations that are not unique to the brand but shared among all of the brands in the frame of reference. Some are necessary fro the consumer to consider this brand as part of the frame of ref (grocery store must have fresh products)
A point of difference can become a point of parity through competitor imitation
Point of difference:
-strong, favorable, unique brand associations.
-concrete or intangible
-should be relevant and desirable to customer
-should be something you can communicate and deliver on
What is repositioning
changing the market’s perceptions of an offering so that it can compete more effectively in its present market or in other target market
What is a positioning/perceptual map?
Tool for creating a visual representation of how people perceive different products in terms of key attributes
What are the steps of a perceptual map
identify important attributes for a produc class
discover how potential customers rate competing products on these attributes
plot these data on x-y graph
What is a consumer buying process
Need to buy clothes for an event
-go through all clothing brands alphabetically
- organized search through memory
