marketing strategies 9 (differentiation and brand positioning)

brand positioning
marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.
brand differentiation
Result of efforts to make a product or brand stand out as a provider of unique value to customers in comparison with its competitors.
A company can outperform its ____ only if it can establish a _____ it can preserve. It must deliver greater ____ to customers or create a comparable ____ at a ____, or both.”
rivals
difference
value
lower cost
levers of differentiation
simple physically based attributes
complex physically based attributes
essentially aabstract attributes
price
steps in the positioning process
1. identify relevant set of competitive products serving a target market
2. identify the set of determinant attributes that define a product space
3. collect info from a sample of customers about perceptions of each product on determinant attributes
4. determine the brand’s current location in the product space and intensity thereof
5. determine customer’s most preferred combination of determinant attributes
6. determine fit between preferences of market segments and current position of brands
7. write positioning statement or value proposition to guide strategy
positioning statement
For upscale American families, Volvo is the automobile that offers the utmost in safety.
Brand equity
the term marketers use to refer to the value created by establishing customer preference for one’s brand.
Brand equity must be managed to retain and grow the brand’s value