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Customers
Brand personality
Sincerity (down-to-earth, honest, wholesome and cheerful) Excitement (daring, spirited, imaginative & up-to-date) Sophistication (upper-class & charming) Ruggedness (out doorsy & tough)
E:gLevis-ruggedness MTV- Excitement CNN-competence
Reference groups
Membership groups
Buying roles
INITIATOR
INFLUENCER PAYER DECIDER BUYER USER
Need recognition
Internal Stimulus
External Stimulus
Information search
Which brand to buy?
Internal Retrieving information from sources memory
sources
External sources
Personalfamily,friends,neighbours,acquintances
Public- mass media, consumer rating organisation Experiential-handling, examining, using the product
Choice set
Market segmentation
Dividing a market into distinct groups with Distinct needs Distinct characteristics or behavior who might require separate products or marketing mixes.
Why segmentation
and efficiently with products and services that match their unique needs
Bases of segmentation
Age & Lifecycle
Demographic-
Geographic-
Behavioral-
Psychographic- Lifestyle
Personality
Strategies of segmentation
Niche - marketing One product one market strategy
One product, with different variations in the product but catering to the needs of different market segments Different products catering to the needs of one consumer segment.
Market segmentation 1.Identify bases for segmenting the market. 2. Develop segment profiles.
Target marketing
3.Develop measure of segment attractiveness 4. Select target segments
Market positioning 5. Develop positioning for target segments. 6. Develop a marketing mix for each segment.
Target market
A target market is a group of people or organisations for which a company Designs Implements and Maintains a marketing mix intended to meet the needs of that group, resulting in mutually beneficial and satisfying exchanges.
Product positioning
The way the product is defined by consumers on important attributes the place the product occupies in consumers minds relative to competing products.
Result of positioning
Customer- focused value proposition
A cogent why the target market should buy the product
Positioning is: Not what you do to a product . But what you do to the minds of the prospect.
Target customers
Qualityconscious consumers of chicken.
Benefits
price
Value proposition
More tender golden chicken at a moderate premium price
Tenderness
10% premium
Dominos (pizza)
20% premium
The safest, most durable wagon in which your family can ride.
15% premium
A good hot pizza,delivered to your door within 30 minutes of ordering at a moderate price.
The company must effectively communicate and deliver the chosen position to the market
Identifying the
The ideal points-of-parity (POP) The points-of-difference (POD)
CATEGORY MEMBERSHIP
the products or set of products with which a brand competes & which functions as a close substitutes Target market Buyer behavior Identify the consideration set consumer use in making brand choices Buying roles
Point-of-difference (PODs)
Attributes and benefits consumers strongly associate with a brand , positively evaluate, and believe that they could not find to the same extent with a competitive brand.
Point-of-parity (POPs)
Associations that are not necessarily unique to the brand but may infact be shared with other brand.
Category POPs Competitive POPs
Category point- of- parity Associations consumers view as essential to be a legitimate and credible offering within a certain product or service category They represent necessary- but not necessarily sufficient-conditions for brand choice Competitive point-of-parity
Communicability
Sustainability