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20 Cards in this Set

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Positioning

identifying and defining the market in which you compete, and then seeking a differential advantage

Consumer Benefit - Product

must provide attributes that are seen as offering particular benefits to the consumer

Consumer Benefit - Price

must be seen within the context of a price-value relationship

Consumer Benefit - Place

must provide convenient access to the product as well as positive store image

Consumer Benefit - Promotion

will alert the consumer to potential benefits

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

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

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)

Define the Market - Hierarchical Market Definition

Based on the ordering of product characteristics of consumers mind = Partitioning

Bases for Partitions

type of product


end benefit


usage situation


brand name


(--> the order is how consumers define markets)

Positioning Statement

To (target audience and need) (brand) is(concept) that (point of difference)

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

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

User-oriented Positioning

When marketing to a specific market segment.


When social approval is primary purchase intention

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

IDU - Which benefits to emphasise in the positioning

(I) Important to the target audience


(D) Deliverable by the brand


(U) Unique to the brand

(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

Attribute

An objective component of a product (Zero calories, anti-bacterial)

Characteristics

A subjective claim about a product (easy to use, tastes great)

Emotion

A feeling associated with the product (excitement, relief)