Please enable JavaScript.
Coggle requires JavaScript to display documents.
Components of Brand Positioning (Target market (Segmentation Bases…
Components of Brand Positioning
Basic concepts(1)
Brand positioning is at the heart of a marketing strategy
" act of designing the companies offer and image so that it occupies a distinct and valued place in the target customers mind"
proper location in the minds of consumers/market segment in order to think of offering in desired way to maximise potential benefits to brand owner/firm
how it is unique
how it is similar/different to competitive brands
what the brand is
why should consumers purchase or use it
Not proper placement then consumer becomes confused and the product becomes less favourable thus Strength, favorability and uniqueness all decrease
Basic concepts (2)
Deciding on positioning requires:
Optimal POP
Optimal POD
Determine frame of reference (TM and nature/competition)
marketers need to know
who are main competitors
how is brand similar to competitors
who is a target customer
how is brand different
Target market
Different consumers have different brand knowledge structures and thus different perceptions and preferences for brands
Market: set of all actual and potential buyers who have sufficient interest in, income for, access to a product
Market segmentation: divides the market into distinct groups of homogenous consumers who have similar needs and consumer behaviour who requires similar marketing mixes
Segmentation Bases
Behavioural
Demographc
Psychographic
Geographic
Criteria
size
is there adequate sales potential?
accesability
are specialized distribution outlets and communication media available to reach the segment
Identifiability
can we easily ID the segment?
responsiveness
How favorably will the segment respond to a tailored marketing program