🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
HomeStudy Guides420,000CA160,000

MGMC11H3 Final: MGTC21 Study Notes - CH 3.docx

104 views8 pages
School
UTSC
Department
Management (MGM)
Course
MGMC11H3
Professor
Bill Mc Conkey

For unlimited access to Study Guides, a Grade+ subscription is required.

Document Summary

Brand positioning - designing a company offering & image so it occupies a distinct. & valued place in consumer minds (heart of marketing strategy: finding a proper location in minds of consumers, so they thing about product in. Right /desired way to max benefit to firm: good brand positioning clarifys what brand is about, how it is unique/similar to competitors, & why consumers should use it. According to cbbe, deciding on positioning requires: determining fram of reference (identify target market & nature of competition, determine ideal points of parity & points of differnece. Help identify which brand associations should be strongly held, favourable & unique. Market - set of all actual & potential buyers w/ sufficient interest, income & access to product. Market segmentation - divides market into groups of consumers w/ similar needs & behaviour (require similar marketing mix) Conversion model - measures strength of psychological commitment between brands. & consumers openness to change: 4 groups of commitment.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

MGMC11H3 Chapter Notes - Chapter 2: Brand Equity, Brand Awareness, Target Market
beigegoldfish736
MGMC11H3 Lecture Notes - Lecture 3: Luxury Goods, Relate, Philip Kotler
amberant375
MGMC11H3 Lecture Notes - Lecture 2: Brand Equity, Brand Awareness, Target Market
chocolatebuffalo357

Related Questions

2. Coca-Cola has decided to sponsor the 2016 Summer Olympics that will be held in Rio de Janeiro, Brazil. This is an example of a decision. a) promotion b) product c) partnership marketing d) placement e) positioning

Which of the following statements about nonprice competition is most accurate?
 
A. Marketers often rely on nonprice differences in their competitive strategy to enhance a relatively homogeneous product.
B. As microeconomic theory suggests, firms have found that nonprice competition plays a secondary role that supplements the more important competition based on price.
C. Nonprice competition is much more important to large firms than it is to small firms.
D. While still important, nonprice competition is becoming less critical as a result of the Internet.

5. Which are the four main variables used in developing a target market profile? a) Demographics, geographics, behaviouristics, linguistics b) Demographics, sociographics, personality, positioning c) Demographics, geographics, communications, behaviouristics d) Geographics, demographics, psychographics, behaviouristics e) Geographics, behaviouristics, economics, demographics