MKTG10001 Lecture Notes - Lecture 5: Comparative Advantage, Brand Equity, Target Market
27 Jul 2018
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Deciding which "positions" company wants to occupy in its chosen market segments. Creating and maintaining a concept of a product in customers" minds. How customers feel about your product based on their perceptions position. Place the product occupies in customers" minds relative to competing products. How to create a picture/perception in your customers" minds about your products. Allows you to better reach customers and hence create value for them. Away from competitor make sure customers know you"re different (e. g. ) Against competitor focus on same target group. A collection of perceptions in the mind of a consumer. Combination of logo, identity product plus a person"s feelings about a product, service or organisation. "a name, term, sign, symbol or design, or a combination of these intended to identify the goods or services of one seller to a group of customers and to differentiate them from those of the competitors" Be sure of finding the same quality no matter where/when product is purchased.
