Strategic Brand Management Chapter 3

positioning
identifying and establishing points of parity and points of difference to establish the right brand identity and brand image
brand positioning
the act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds
market
the set of all actual and potential buyers who have sufficient interest in, income for, and access to a product
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
points of difference (POD)
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
unique selling proposition (USP)
advertising should give consumers a compelling reason to buy a product and competitors could not match
sustainable competitive advantage (SCA)
a firm’s ability to achieve an advantage in delivering superior value in the marketplae for a prolonged period of time
points of parity associations (POP)
attributes or benefits that are not necessarily unique to the brand but may in fact be shared with other brands
category points of parity
necessary – but not necessarily sufficient – conditions for brand choice
competitive points of parity
associations designed to negate competitors’ points of differece
laddering
deepening the meaning of a brand to tap into core brand associations
reacting
responding to competitive challenges that threaten an existing positioning
means-end chains
a way of understanding higher-level meanings of brand characteristics
core brand associations
abstract associations (attributes and benefits) that characterize the 5 to 10 most important aspects or dimensions of a brand
mental map
portrays in detail all salient brand associations and responses for a particular target market
brand mantra
an articulation of the “heart and soul” of the brand, a short, three- to five-word phrase that captures the irrefutable essence or spirit of the brand positioning
brand functions
the nature of the product or service or the type of experiences or benefits the brand provides
descriptive modifier
clarifies brand functions
emotional modifier
another qualifier – how exactly does the brand provide benefits and in what ways
brand audit
comprehensive examination of a brand to discover its sources of brand equity
marketing audit
comprehensive, systematic, independent, and periodic examination of a company’s – or business unit’s – marketing environment, objectives, strategies, and activities with a view of determining problem areas and opportunities and recommending a plan of action to improve the company’s marketing performance
brand inventory
a current, comprehensive profile of how all the products and services sold by a company are marketed and branded
brand exploratory
research directed to understanding what consumers think and feel about the brand and its corresponding product category in order to identify sources of brand equity