BU121 Lecture Notes - Lecture 3: Customer Relationship Management
Document Summary
Finding a distinct position for your product in the customer"s mind and communicate value occupy a clear, distinctive, attractive place relative to competition products. Communicates that the product provides a unique benefit. Objective is to position the product in the targets minds as close to their ideal. Consumer approach; suggest you meet their needs, problem solution fit, product and service is a part of their identity. Competitive approach; point out competitor flaws, how you are better. Our (product/brand) is (single most important claim), amount all (competitive frame) because (single most important support) Reaching the customer: why it is important - key #2. Convince the customer that the product provides that unique benefit so that it occupies that position in their mind - perception is key. Need consistent product, pricing, promotion and distribution decisions (marketing strategy) integrated system of activities to convince the customer of the products positioning - unique benefits relative to its competition.
