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act of designing the companys offer and image so that it occupies an valued place in the target customers minds
Is it
Only identifying a right location for itself in the minds of the customers Or It also involves identifying location for its competitors also
Who the target customer is? Who the main competitors are? How the brand is similar to these competitors? How the brand is different from these competitors?
Segmentation
Target Market
Market consists of all actual and potential buyers, They have sufficient income for and access to a product. They have sufficient motivation, ability and opportunity to buy a product Identifying the target market is the key.
Segmentation basis
Conversion model
Users Convertible: threshold of change Shallow: not ready to switch but may consider alternatives Average: comfortable with their choice unlikely to switch Entrenched: staunchly loyal,
Cont..
Non-users Strongly unavailable: strongly prefer their current brand Weakly unavailable: preference lies with current brand, although not strongly Ambivalent: as attracted to the other brand as current choice Available: prefer other brand but yet to be switched.
Nature of competition
Nature of competition for the brands Close associations Substitutes Point of parity ( category and competitive) Point of difference (USP)
Positioning guidelines
Defining and communicating competitive frame of reference. Choosing and establishing POP and POD
Determine the category of membership Informs consumers what category of goals they achieve by using their product or services But highly established products and services category membership is not focal issue
Cont..
Inform consumers of brands membership before stating its POD Can both go simultaneously? Yes if you have resources.
Communicating category benefits ( tasty) Comparing exemplars ( well known) Relying on product descriptor ( Nseries, E- series)
Creating strong Brand position requires establishing right POP and POD
Consider
Low price and highest quality Taste & calories Taste and nutritious Powerful & safe Varied & simple Strong & refined Sometimes they are negatively co-related Think of one more on same lines Easily available & Exclusive
How to do it?
Launch two different marketing programmes Leverage equity of another entity Redefine the relationship
With established brands, competitive forces often dictate shifts in positioning strategy over time.
Laddering: deepen the meaning of the brand to tap core brand values ( nevia) Reacting: response to competitive challenges that threaten an existing position. Do nothing Go on defensive Go on offensive
Brand values
Core brand values: set of abstract associations ( Attributes and benefits) that characterize the 5 to 10 most important aspects or dimensions of a brand.
Brand Mantras
is the articulation of heart and soul of the brand. What the brand is and what it is definitely not
Brand functions Descriptive modifier: Athletic performer Family entertainment Emotional modifier:
Internal Branding
Members of the organization are properly aligned with the brand and what it represents. TATA
Consider this
Remember
Choose the right segment and target Category defining is equally important as USP POD & POP Avoid confusion Be ready to reposition