MKTG - Strategic Management Process Steps.docx - A. STEPS...

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A. STEPS IN STRATEGIC BRAND MANAGEMENT PROCESSIdentifying and Developing Brand PlansDesigning and Implementing Brand Marketing ProgramsMeasuring and Interpreting Brand PerformanceGrowing and Sustaining Brand EquityB. BRAND POSITIONINGDefinition of Brand PositioningAct of designing the company’s offer and image so that it occupies a distinct and valuedplace in the minds of the target consumers.Act of finding the proper location in the minds of a certain market segment so that theythink about the product in the right or desired way.Deciding on the brand positioning requires determining aframe of reference.Frame of ReferenceA set of criteria which serve as basis of measurement and/or judgmentsIdentifying the Target MarketoTarget market.Portion of the total market that is the main customer of theplayers.Identifying the Nature of CompetitionoMarket structure.How different industries are classified and differentiatedbased on their degree and nature of competition for services and goods (e.g.,perfect competition, oligopoly market, monopoly market, and monopolisticcompetition).

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Term
Spring
Professor
N/A
Tags
Brand, Interpreting Brand Performance, Developing Brand Plans, brand value chain

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