how can a firm develop and establish an effective positioning in the market
TRANSCRIPT
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Developing and Establishing an Effective Brand Positioning
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What is Positioning?
Positioning is the act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market.
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The goal is to locate brand in the minds of consumers to maximize the potential benefit of the firm.
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How to develop positioning in market?
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1Determine a Competitive Frame of Reference
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Identifying Competitors: Industry Competition: Product that are close substitute for one another.
Market Competition: Companies that satisfy same customer need.
VS
VS
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Coca-Cola, focused on its soft drink business, missed seeing the market for coffee bars and fresh-fruit-juice bars.
VS
Identifying Competitors:
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12Identify Optimal Points-of-Difference and Points-of-Parity
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Points-of-difference: Attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand.
Points-of-parity: Attributes that are not necessarily unique to the brand but may be shared with other brands Defining Association.
(design, ease-of-use) (performance, winning)
(germ cleaning) (germ cleaning)
VS
VS
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13
Creating a Brand Mantra
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McDonald’s brand philosophy(Food, Folks and Fun)
Nike’s mantra:(authentic athletic performance)
Disney’s brand mantra:(fun family entertainment)
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Credits
Photos:www.google.com
Content:Marketing ManagementA South Asian Perspective
- Philip Kotler
Presentation created by - Rashmi Choudhary, IIT Bombay
During an internship by Prof. Sameer Mathur, IIM Lucknow http://www.iiminternship.com