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CH 3 : BRAND POSITIONING & VALUES - Coggle Diagram
CH 3 : BRAND POSITIONING & VALUES
Definition of brand positioning
Is at the heart of the marketing strategy and the act of the company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds.
Target Market
A market is the set of all actual and potential buyers who have sufficient interest in, income for, and access to a product.
Market segmentation
Market segmentation divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior, and who thus require similar marketing mixes.
Market segmentation requires making tradeoffs between costs and benefits
Criteria for Segmentation
• Identifiability: Can we easily identify the segment?
• Size: Is there adequate sales potential in the segment?
• Accessibility: Are specialized distribution outlets and communication media available to reach the segment?
• Responsiveness: How favorably will the segment respond to a tailored marketing program?
PODs
Points-of-difference (PODs) are attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand.
POPs
Points-of-parity associations (POPs), on the other hand, are not necessarily unique to the brand but may in fact be shared with other brands.
mental map
Core brand values
brand mantra
Brand Audit
Understand sources of brand equity
Firm perspective
• Consumer perspective
Set strategic direction for the brand
• Recommend marketing programs to maximize long-term brand equity
Brand Audit Steps
Brand inventory
• Brand elements
• Supporting marketing programs
• Profile of competitive brands
• POPs and PODs
• Brand mantra
Brand Exploratory
• Awareness
• Favorability
• Uniqueness of associations