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20 Cards in this Set
- Front
- Back
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Positioning |
identifying and defining the market in which you compete, and then seeking a differential advantage |
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Consumer Benefit - Product |
must provide attributes that are seen as offering particular benefits to the consumer |
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Consumer Benefit - Price |
must be seen within the context of a price-value relationship |
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Consumer Benefit - Place |
must provide convenient access to the product as well as positive store image |
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Consumer Benefit - Promotion |
will alert the consumer to potential benefits |
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Cannibalization |
a situation in which the introduction of a new product takes sales away from existing products that the company sells rather then adding incremental new sales |
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Define the Market - cross-elasticity |
cross-elasticity of price between two products or brands is directly proportional to the shift in sales for on brand as a result of a change in price for another |
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Define the Market - Perceived Similarity |
based on how similar consumers perceive brands to be (perceptual mapping procedure) (not very useful, because doesn't explain the fundamental judgements) |
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Define the Market - Hierarchical Market Definition |
Based on the ordering of product characteristics of consumers mind = Partitioning |
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Bases for Partitions |
type of product end benefit usage situation brand name (--> the order is how consumers define markets) |
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Positioning Statement |
To (target audience and need) (brand) is(concept) that (point of difference) |
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Centrally Positioned |
a brand must be able to deliver on all of the main benefits of the category. Best brand in the category. Strong market position |
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Differentially Positioned |
must look for another benefit that the brand offers, different from the primary category benefit that helps to position the market leader centrally |
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User-oriented Positioning |
When marketing to a specific market segment. When social approval is primary purchase intention |
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Product-oriented Positioning |
the positioning will be defined by specific benefits related to the product, not user. In all other cases when it isn't user-oriented |
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IDU - Which benefits to emphasise in the positioning |
(I) Important to the target audience (D) Deliverable by the brand (U) Unique to the brand |
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(Fishbein’s) Expectancy-Value Model of Attitude |
A person’s attitude towards an objectis the sum of all the things they believeabout it, weighted by how importanteach of those things are to them |
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Attribute |
An objective component of a product (Zero calories, anti-bacterial) |
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Characteristics |
A subjective claim about a product (easy to use, tastes great) |
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Emotion |
A feeling associated with the product (excitement, relief) |
