MKT 510 Chapter Notes - Chapter 3: Market Segmentation, Brand Equity, Mantra

• School: Ryerson University
• Department: Marketing
• Course: MKT 510
• Professor: Marla Spergel

Document Summary

Is at the heart of the marketing strategy. Market: is a set of all actual and potential buyers who have interest, income and access to a product. Market segmentation: divides market into homogenous categories, consumers who have similar needs and consumer behavior. Pod: attributes/benefits that consumers associate with the brands and believes that they could not find to the same extent with a competitive brand. Pop: not necessarily unique to the brand but may be shared with other brands. 2 issues in arriving at the optimal competitive brand positioning: define and communicate the competitive frame of reference, choosing pod and pop. Is to inform consumers of a brand"s membership before stating its points of difference (pod) in relationship to other category members. Includes: objectives, scope; analysis, self analysis, background to industries, consumer analysis, brand inventory, brand exploratory. Thursday september 13th, 2012: summary of competitor analysis, swot analysis, brand equity evaluations, recommendations.