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Where We Have Been Quetzal : Define your business. Jones Blair: Market Targeting MARKSTRAT Familiarization of systems/environment Basic research needs evaluation Initiation of R&D projects Marketing projections (Plan) Moving from tactical to strategic planning Positioning “Once a mind is made up, it’s almost impossible to change it.” - Al Trout & Jack Ries, the “fathers” of positioning Inputs to the positioning decision? Target Market Firm’s SCAs Competition THE PROCESS OF POSITIONING Mkt Analysis Segmentation Internal Corporate Analysis Competitive Analysis Differentiation TM Selection Implications for Mktg Strat Position Package of Benefits Selection * Product * Price * Channels * Promo Quelch, John R. (1982) “Frank Homer LTD - Teaching Note,” in Cases in Advertising and Promotion Management, 2d ed., Business Publications, Inc. “Positioning Audit,” Trout & Ries What is our position? Important Dimensions? Performance BMW Luxury “Positioning Audit” What is our position? What position do we want? BMW Z3 “Positioning Audit” What is our position? What position do we want? Where is our competition relative to our desired position? Exotic, Expensive & Italian Porsche BMW Japanese Mercedes Swedes Jaguar Lincoln Subaru Yugo General Motors “Positioning Audit” What is our position? What position do we want? Where is our competition relative to our desired position? Can we defend our position? Exotic, Expensive & Italian Porsche BMW Japanese Mercedes Swedes Jaguar Lincoln Subaru Yugo General Motors “Positioning Audit” What is our position? What position do we want? Where is our competition relative to our desired position? Can we defend our position? Is our position long-term? “Positioning Audit” What is our position? What position do we want? Where is our competition relative to our desired position? Can we defend our position? Is our position long-term? Does our promotion reflect our position? Sample Markstrat Process for Positioning Step 1: Where are we? Step 2: Where do we want to be? Step 3: Where do we expect the market to be in X time period? Step 4: How much will our move cost us? (R&D costs, Push/Pull costs) Step 5: What attribute changes brings us to our desired position? Step 1: Where are we? Examine perceptual map – Too close = cannibalization Semantic vs. Perceptual map – Matter of cost vs. accuracy Step 2: Where do we want to be? Optimal Brand position Prediction of ideal points – Evolution of ideal points over time Step 3: Where is the market? Forecast Market Share – Examine Consumer survey research for purchase intentions data • Brand awareness/brand positioning Expected Brand Demand – ESS X EPI = EBS • Analyze Per segment and then total Step 4: How much cost? Must factor in R&D, Advertising, and sales force expenditures. Impact of production on transfer cost – – Experience curve (productivity gains) Intro new products (experience effect) • • Unit transfer costs decrease as a function of new product design See Brand Contribution: Marketing Plan Step 5: What attribute changes? Pull in data from MDS or Semantic scales indicating desired physical characteristics. Examine actual vs. perceived attributes (Product Design) – – Estimate brand perceptions Estimate physical characteristics for positioning Repositioning: What to do after product has been on the market. Specify Target Segment(s) Specify perceptual objectives for the brand. (pick 2) – Economy, performance, convenience Allocate advertising budget. Allocate ad research budget.
