Textbook Notes (369,028)
Canada (162,352)
UOIT (554)
Business (277)
BUSI 4220U (13)
Chapter 7

BUSI 4220U Chapter 7: BUSI4220U - Chapter 7

3 Pages
22 Views
Unlock Document

School
Department
Business
Course
BUSI 4220U
Professor
Salma Karray
Semester
Winter

Description
Differentiation: one key to customer preference and competitive advantage Consumers or organizational customers choose what they buy for one of two reasons: what they choose is better, in some sense, or cheaper In either case, the good or service they choose is, in some way, almost always different from others they could have chosen Differentiation among competing brands o Creating both physical and perceptual differences, using all the elements of the marketing mix product, pricing, promotion, and distribution decisions is what effective brand positioning seeks to accomplish Physical positioning Limitations of physical positioning o A simple comparison of only the physical dimensions of alternative offerings usually does not provide a complete picture of relative positions because, as we noted earlier, positioning ultimately occurs in customers minds o Perceptual positioning analysis whether aimed at discovering opportunities for new product entries or evaluating and adjusting the position of a current offering is critically important Perceptual positioning While the physical properties of a product certainly influence the benefits provided, a consumer can typically evaluate a product better on the basis of what it does than what it is Levers marketers can use to establish brand positioning Simply physically based attributes Complex physically based attributes Essentially abstract attributes Price Preparing the foundation for marketing strategies: the brand positioning process Step 1: identify a relevant set of competitive products Step 2: identify determinant attributes o Features are often used in physical product positioning and, hence, with industrial products o Benefits, like features, are directly related to a product o Parentage includes who makes it and prior products o Manufacturing process is often the subject of a firms positioning efforts
More Less

Related notes for BUSI 4220U

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit