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Market Positioning and Branding February 25, 2019 Dr. Karen Smith Bogart
Today •“Spruce Lake Spice” Case•Market Positioning •Branding •CAPSIM Debrief
Marketing •Segmentation •Targeting Marketing Opportunity •Positioning •Branding •Product or service definition •Product, Pricing, Placement, Promotion •Market research and analysis •Awareness: Website, SEO, Advertising, PR, Social Media Promotion, Merchandising, Collateral •Channels •Sales: Processes, techniques (e.g. loyalty)
STP: Segmentation, Targeting, Positioning •Identify bases for segmentation •Determine key characteristics •Develop segment profiles •Segments: - Measurable - Accessible - Substantial - Differentiable - Actionable •Assess & choose attractive segments •Metrics •Required investment and expected return •Discern positioning for selected segments to achieve differentiation •Define segment value propositions: For Organic drink consumers, Crescent Pureprovides you a natural, refreshing, and great tasting drinkthat enhances your health and wellness. •Identify Marketing Mix (4Ps) to win •Execute 4Ps Market Situation Analysis: Assessment & tool use
Customer-Driven Marketing Strategy
Value Proposition •Value Proposition must address: –What it is? What it is not? –Time horizon –Target segment (beneficiaries) –What we want the segment customers to do? –Benefits they will get vs. alternatives (e.g. current) –Trade-offs experienced –What they will pay vs. alternatives? •Communication: Simple & relevant e.g. Benefit: What? How provided?
What is a Brand and its Essence? •Name, logo, slogan, and/or design scheme uniquely associated with a product or service •Symbolic expression of information about the product that creates expectations of quality and attributes.