MRKT 351 Lecture Notes - Lecture 11: Brand Equity, Fruit Salad, Umbrella Brand
Document Summary
The fundamental asset underlying brand equity is customer equity. The value customer relationships that the brand creates. Communications and delivering the chosen position: a differentational and positioning strategy involves. Identifying comptetitive advantages: selecting competivive advantages on which to create position, marketing mix efforts must support the positionng strategy, positioning must be monitored and sometimes adapated to match consumer needs, values and attitrudes as well as competitive fluctiatoins. How positioning relates to branding: positioning statement provides parameters and inspiration for developing your desired brand identify, behavior- focused positioning, barriers- focused positioning, benefits- focused positioning, competition- focused positoinng, repositioning. Focused positioning: barrier: to help overcome or minimize barriers, benefit- focused on the core product, competition- when you want to create competitive superiority, repositioning- may be because, new audiences. Place and distribution channel: objective with this tool, reduce time, reduce effort, reduce psychological barriers, one up the competitive behavior, make locations for performing desired easier to access and more.
