* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download MKM803Chap5Student.pp+
Street marketing wikipedia , lookup
Direct marketing wikipedia , lookup
Perfect competition wikipedia , lookup
Dumping (pricing policy) wikipedia , lookup
Targeted advertising wikipedia , lookup
Product lifecycle wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Visual merchandising wikipedia , lookup
Viral marketing wikipedia , lookup
Product placement wikipedia , lookup
Celebrity branding wikipedia , lookup
Digital marketing wikipedia , lookup
First-mover advantage wikipedia , lookup
Food marketing wikipedia , lookup
Bayesian inference in marketing wikipedia , lookup
Market segmentation wikipedia , lookup
Consumer behaviour wikipedia , lookup
Advertising management wikipedia , lookup
Marketing communications wikipedia , lookup
Pricing strategies wikipedia , lookup
Target audience wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Green marketing wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing channel wikipedia , lookup
Youth marketing wikipedia , lookup
Market penetration wikipedia , lookup
Multicultural marketing wikipedia , lookup
Brand awareness wikipedia , lookup
Target market wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Brand loyalty wikipedia , lookup
Brand equity wikipedia , lookup
Personal branding wikipedia , lookup
Global marketing wikipedia , lookup
Product planning wikipedia , lookup
Brand ambassador wikipedia , lookup
Advertising campaign wikipedia , lookup
Marketing strategy wikipedia , lookup
Brand Positioning Decisions Positioning “The art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition.” Market Positioning Strategy Concerns the final decision of the market(s) in which firms wish to compete, combined with specific elements of the marketing mix designed to fulfill the respective needs of the market(s). Guiding principle and direction for: Product Price Distribution Marketing communications Market Position The reaction of the market to the firm’s marketing programs. The intended or unintended consumer beliefs of the organization’s efforts, not the current or past strategic plans of marketing managers. Illustration of Market Positioning Strategy Figure 5-1 Brand Positioning Strategy Brand Positioning Strategy: Relates to the intended image of a product or brand relative to a competing brand for a given competitive space as defined by certain product market or category characteristics. A key decision prior to determining the most effective selling message of the advertising or the IMC. Brand Positioning Strategy Part of the overall advertising or IMC plan. Brand Position Exists in the minds of the target audience. Brand Position Illustration By Attributes Figure 5-2 Brand Position Illustration By Benefits Figure 5-3 Brand Positioning Strategy Via Brand Attitude Salient Beliefs Beliefs concerning specific attributes or benefits that are activated and form the basis of an attitude. Multiattribute Attitude Model Attribute Importance (1-10) Rating: My Brand (1-10) Rating: Competitor 1 Overall A rating of 1 is the lowest or most poor score, 10 is the best Rating: Competitor 2 Cars – Compact SUV’s Attribute Importance Rating: My Brand CRV Rating: Toyota RAV4 Power 9 7 9 Interior Space 8 6 8 4 WD 9 8 9 Style 5 8 5 223 251 Overall Rating: Mazda Attitude Change Strategies Increase or change the strength or belief rating of a brand on an important attribute Change consumers’ perceptions of the importance or value of an attribute Add a new attribute to the attitude formation process Change perceptions of belief ratings for a competing brand Brand Positioning Strategy Options Options via Consumer and Competition Positioning by Product Attributes and Benefits Positioning by Price/Quality Positioning by Use or Application Positioning by Product User Repositioning Positioning by Competitor Positioning by Product Class Brand Positioning Strategy Decision Process Identify Competitors Assess Consumers’ Perceptions of Competitors Determine Competitors’ Positions Analyze the Consumers’ Preferences Make the Brand Positioning Strategy Decision Monitor the Position Implications Brand positioning strategy decision is an important requirement for: Setting the overall strategy for advertising. Content of the advertising message. Creative strategy. Tactics. Advertising Creativity The ability to generate fresh, unique and appropriate ideas that can be used as solutions to communication problems. “Its not creative unless it sells” Suits Artists “Only artistic value and originality count” Absolut’s Advertising Represents Synergy Between Creative and Media Creative Challenge The job of the creative team is challenging: Every marketing situation is different, and each campaign or advertisement may require a different creative approach. Guidelines have been developed for creating effective advertising, but there is no magic formula. Young’s View of the Creative Process Immersion Getting Raw Material, Data, Immersing One's Self in the Problem to Get the Background. Digestion Ruminating on the Data Acquired, Turning It This Way and That in the Mind. Incubation Ceasing Analysis and Putting the Problem Out of Conscious Mind for a Time. Illumination A Sudden Inspiration or Intuitive Revelation About a Potential Solution. Verification Studying the Idea, Evaluating It, and Developing It for Practical Usefulness. Wallas’ View of the Creative Process Illumination Seeing the Solution Preparation Gathering Information The Creative Process Verification Refining the Idea Incubation Setting Problem Aside Getting Creative Input Read anything related to the product or market! market Use the Use the product to product to become become familiar with familiar with it it! Work in and learn about the client’s business Listen to what people are talking talking about! about Ask everyone involved for information! information Marketing Research Methods Employed to Probe Consumers’ Minds Verification and Revision of Ideas Evaluate Ideas Generated Reject Inappropriate Ideas Objective Refine Remaining Ideas Give Them Final Expression Directed Focus Groups Message Communication Studies Portfolio Tests Viewer Reaction Profiles Techniques