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UNO MKT4300_Chapter 9
Transcript of UNO MKT4300_Chapter 9
And Competing Effectively What is positioning? Dr. Mike Breazeale MKT 4300
Marketing Management The act of designing a company's offering and image to occupy a distinctive position in the minds of the target market.
A good positioning strategy guides marketing efforts by clarifying the brand's essence, identifying the goals it helps the consumer achieve, and showing how it does it in a unique way.
(Unique Selling Proposition) Customer-Focused Value Proposition Three Important Steps in Developing a Customer-Focused Value Proposition 1.) Determine a frame of reference 2.) Determine points-of-parity and points-of-difference 3.) Create a brand mantra to summarize the brand's position Frame of Reference Defines which other brands a brand competes with and therefore which brands should be the focus of a competitive analysis Category: The products or sets of products with which a brand competes and which function as close substitutes Industry: A group of firms offering or class of products that are close substitutes for one another Point-of-Difference (POD) Attributes or benefits that consumers associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitor brand Point-of-Parity (POP) Attributes or benefit associations that are not necessarily unique to the brand but may be shared with other brands Category POPs are associations that consumers view as essential to a competitive offering within a certain category, although not necessarily sufficient conditions for a brand choice. Competitive POPs are associations designed to overcome perceived weaknesses of the brand. These may be required to negate competitors' perceived PODs or to negate perceived vulnerability of a brand. Differentiating Deliverable Desirable Point-of-Difference Criteria Perceptual Map: Current Perceptions Brand Mantra An articulation of the brand essence and promise, economically communicating what the brand is and is not in short, three- to five-word phrases Three Ways to Convey a Brand's Category Membership 1.) Announce category benefits 2.) Compare to exemplars 3.) Rely on the product descriptor Dimensions of Differentiation 1.) Employee differentiation 2.) Channel differentiation 3.) Image differentiation 4.) Services differentiation Ways to Analyze Potential
Competitive Threats Share of Market Share of Mind Share of Heart Market Roles Market Leader Market Challenger Market Follower Market Nicher Strategic Options
for Market Leaders Expand the total market Additional opportunities to use the brand in the same way Completely new ways to use the brand Protect market share Increase market share Position Defense Flank Defense Preemptive Defense Counteroffensive Defense Mobile Defense Contraction Defense Potential Problems with Expanding the Market Possibility of provoking anti-trust action Economic cost Pursuing the wrong marketing activities Effects on actual and perceived quality Market Challenger Strategies Frontal Attack Flank Attack Encirclement Attack Bypass Attack Guerrilla Attacks Market Follower Strategies Counterfeit Clone Imitate Adapt Product-Line Specialist
Channel Specialist End-User Specialist
Geographic Specialist Niche Specialist Roles S-T-P Segmenting Targeting Positioning The highest quality products to provide a great customer experience