Marketing fundamentals CH 12 from the slides PDF

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Apuntes de la asignatura Marketing fundamentales Chapter 12 de las presentaciones de Blackboard....

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Marketing positioning Four steps to design a customer driven strategy - Market segmentation: Involves dividing a market into smaller segments of buyers with distinct needs, Characteristics or behaviours that might require separate marketing strategies or mixes - Marketing targeting: consist of evaluating each market segment attractiveness and selecting one or more market segments to enter. - In the final two steps, the company decides on a value proposition how it will create value for target customers. Differentiation involves actually differentiating the firm´s market offering to create superior customer value. - Positioning consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. Product Position is the way the product is defined by consumers on important attributes

Choosing a Differentiation and positioning strategy. - Identifying a set of possible competitive advantages to a build position - Choosing the right competitive advantages - Selecting an overall positioning strategy - Communicating and delivering the chosen position to the market

Competitive Advantage - is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices. A competitive advantage should be: 1. Important 2. Distinctive 3. Superior 4. Communicable 5. Preemptive 6. Affordable 7. Profitabel Choosing the right competitive advantage: is the features, attributes or factors of a product or brand which gives certain superiority over competitors

Positioning map - Show consumer perception of marketers brand versus competing products on important buying dimensions

The Process of positioning -

Determinate of the Products/Brands to be considered Identify of the determinants attributes Build a positioning map Analysis the current situation Determinate the ideal positioning View Positions and segments together Select and state the objective positioning (positioning strategies)

Types of positioning -

The real positioning relates to the customer perception, what the consumer thinks The ideal positioning relates to the demand of the market, what the consumer would want The objective positioning relates to the brand building, is the objective of the company

Value Proposition - is the full mix of benefits upon which a brand is positioned. The full positioning of a brand is called the brand’s value proposition—the full mix of benefits on which a brand is differentiated and positioned. It is the answer to the customer’s question “Why should I buy your brand?” BMW’s “ultimate driving machine” value proposition hinges on performance but also includes luxury and styling, all for a price that is higher than average but seems fair for this mix of benefits

PESTLE Analysis. Factors: Political Economic Social Technological Legal Environmental...