MGMT 190 Lecture Notes - Lecture 2: Behaviorism, Brand Equity, Intangible Asset
The Role of IMC in the Marketing Process
● A strategic marketing plan evolves from an organization’s overall corporate strategy
and serves as a guide for specific marketing programs and policies
● Market opportunities are areas where there are favorable demand trends, where it can
compete effectively
● Dividing consumers into groups according to their usage, loyalties, or buying responses
to a product is behavioristic segmentation
● Steps in selecting a target market
○ Determining how many segments to enter
○ Determining which segments have most potential
●Positioning has been defined as “the art and science of fitting the product or service to
one or more segments of the broad market in such a way as to set it meaningfully apart
from competition.”
● Ways to position include
○ Product attributes
■ those that are important to consumers and are the basis for making a
purchase decision
○ price/quality
○ Use
○ Product class
○ Users
○ Competitor
● The goal of branding is to
○ Build and maintain brand awareness and interest
Document Summary
The role of imc in the marketing process. Evolves from an organization"s overall corporate strategy and serves as a guide for specific marketing programs and policies. Are areas where there are favorable demand trends, where it can compete effectively. Dividing consumers into groups according to their usage, loyalties, or buying responses to a product is behavioristic segmentation. Has been defined as the art and science of fitting the product or service to one or more segments of the broad market in such a way as to set it meaningfully apart from competition. Those that are important to consumers and are the basis for making a purchase decision. Build and maintain brand awareness and interest. Develop and enhance attitudes toward the company, product or service. Build and foster relationships between the consumer and the brand. Is the name, logo, symbols, design, packaging, and image of associations held by consumers.
