MKT 100 Lecture Notes - Lecture 16: Caffeine, Multi-Touch, Alicia Keys

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mary Foster

Document Summary

Marketers want to answer these crucial questions that a company asks: Perceptual map: marketing researchers collect information on how brands in a competitive set are perceived by consumers on two key features/benefits. Product characteristics/customer benefits: occupy a gap in the market by positioning a product on an aspect no company expresses on. Volkswagen has stressed its design and engineering in its das auto ads. Secret deodorant advertises that it"s ph balanced as if it is a unique benefit (all deodorants are ph balanced though) *too much product characteristics can produce a confused image of a brand in a consumer"s mind. Price & quality: difficult to position both simultaneously as its embedded in our psyche that the price = quality. Target has entered the canadian market with proclaimed quality products yet its maintained as a retail competitor in the same market as walmart. Use or application: adjusting the perception of a product through reintroducing it with a new function.