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25 Cards in this Set
- Front
- Back
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Position
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How the product is view by consumers on important attributes relative to the competition
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Positioning
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The actions a marketer takes to influence a product's position
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The Marketing Cheer
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Stand for something different that's important
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USP
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Unique Selling Proposition
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USP
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For Target Market the Name of the Product is single most important claim among all competitive frame because reason to believe
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Perceptual Map, Positioning Map
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Example - car industry
Y axis - practical and affordable to classy and distinctive - X Axis - conservative and sporty |
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Target Model
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Augmented Product - warranty, after sale service
Actual Product - Features and Design Core Customer Value |
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Roles of Package
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functional, protect and inform
strategic - influence choice, reinforce brand, differentiate, advertising |
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Brand Pyramid
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going up - attributes - functional benefits - emotional benefits - value of user - personality ---brand loyalty goes up as you go up the pyramid
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Attributes of a good brand name
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suggestive of benefits
simple easy to remember distinct extendable translates easily into other languages legally defensible |
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brand development stragies - 2x2 matrix
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product category x - brand name y --- existing and new on each side --- existing/existing line extension --- existing product category new brand name multibrands
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Brand identity
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visual elements, verbal elements, visceral elements (sound, texture)
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New product development process
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idea generation- idea screening - concept development and testing - marketing strategy development - business analysis - product development - test marketing - commercialization
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Brainstorming techniques
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defer judgement (not buts), encourage wild ideas, build on ideas (only ands), be visual, stay focused on the topic, one conversation at a time
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Chain ratio forecasting technique
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process used to estimate a target market
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Product Adoption Curver
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Risk Takers 2.5%, opinion leaders 13.5%, early majority 34%, late majority 34%, laggards 16%
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Product Life Cycle Strategies
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Market Modifying
- finding new uses, and new markets for your product Product Modifying - Creating new products with your brand Marketing mix modifying - changing four Ps |
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Goal of pricing
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capture as much of the perceived value as possible without inviting over-powering competition
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Gross Margin
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Revenue - Cogs
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Net sales
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sales - trade
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unit gross margin
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price/unit - vc/unit
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margin
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gross margin/sales
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mark-up
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gross margin/cogs
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Pricing Process
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determine your pricing objective, estimate demand, estimate costs, analyze competitors price and offering, select a final price
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illegal pricing strategies
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predatory pricing, price maintenance, price fixing, 1st degree price discrimination
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