MKT 702 Chapter Notes - Chapter 10: Brand Equity, Machismo, Mantra
Document Summary
Positioning the act of designing the company"s offering and image to occupy a distinctive place in the mind of the target market. The goal is to locate the brand in the minds of consumers to maximize the potential benefit to the firm. A good brand positioning helps guide marketing strategy by clarifying the brand"s essence, what goals it helps the consumer achieve, and how does it so in a unique way. Competitive frame of reference defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis. Decisions to target a certain type of consumer can define the nature of competition because certain firms have decided to target that segment in the past (or place to do so in the future) Category membership the products or sets of products with which a brand competes and which function as close substitutes.
