MGTC21 Study Notes - CH 3.docx

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University of Toronto Scarborough
Management (MGM)
Bill Mc Conkey

CHAPTER 3BRAND POSITIONING Step 2 of CBBE Create Brand MeaningIdentifyingestablishing brand positioning Basic ConceptsBrand positioningdesigning a company offeringimage so it occupies a distinctvalued place in consumer minds heart of marketing strategy o Finding a proper location in minds of consumers so they thing about product in rightdesired way to max benefit to firm o Good brand positioning clarifys what brand is about how it is uniquesimilar to competitorswhy consumers should use itAccording to CBBE deciding on positioning requires o Determining fram of reference identify target marketnature of competition o Determine ideal points of paritypoints of differneceMarketers need to knowtarget consumer main competitorshow brand is similar to competitors how brand is different Target Market help identify which brand associations should be strongly held favourableunique marketset of all actualpotential buyers w sufficient interest incomeaccess to productmarket segmentationdivides market into groups of consumers w similar needsbehaviour require similar marketing mixMarket segmentation requires making tradeoffs bw costbenefitsthe more finely segmented the market the more likely that the firm can implement marketing programs that meet the needs on consumers in any one segmentcosts of reduced standardizationSegmentation bases1 customeroriented what kind of person or organization the consumer is 2 product oriented what do customer think of or uses the producto behavioural segmentation bases are most valuable in understanding branding issues bc they have clearer strategic implicationso Eg4 main behavioural segments for toothpaste sensory taste sociable white teeth worriers prevent decay independent Low priceconversion model measures strength of psychological commitment between brandsconsumers openness to change o 4 groups of commitmentconvertible highly likely to switch brandsshallow not ready but considering alternativesaverage comfortable w choices unlikely to switch entrenched staunchly loyal unlikely to change in foreesable futureo also classifies 4 groups of nonusers
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