Study Guide for Lecture 6 - Target marketing II

Study Guide for Lecture 6 - Target marketing II - Study...

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Study guide for lecture 6: Target Marketing II Positioning 0. Definition 0. Developing a specific marketing mix to influence potential customers’ overall perception of a  brand, product line, or organization in general 1. According to Ries and Trout 0. Consumers organize products into categories in their mind. The goal of positioning is to  be the first thing that comes to mind in the category. 1. Word association test 0. Cookies 1. Soda 2. Luxury Cars 2. These are the products that occupy these positions in your mind 3. Two approaches 3. Head to head positioning 0. Direct competition 1. Same attributes 4. Differentiation positioning 2. Different attributes than the market leader 4. According to Bruce 5. It is better to be first place in a small category than second place in a larger category 3. America loves a winner 0. Who was the second person to set foot on the moon 1. Who was the first woman in space 4. Seven up is the largest selling caffeine-free clear soft drink 2. Ridiculous sports statistics 5. How to you become the category leader? 6. The easy way 5. Be there first 6. First name in computers? 7. First name in copiers? 7. The hard way 8. Use the marketing mix to create a marketing position 9. Expensive  1. Remember about commercial information Marketing 431 Study Guides © 2009 Lecture 6: Target Marketing II page 1
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10. Hard to do 6. Three step process 8. Figure out who you are 9. Figure out where you want to be 10. Design a plan to get from here to there Figure out who you are 7. According to Bruce: 11. Many companies don’t know how their customers actually perceive them 12. Three usual sources of information 0. Sales 1. Feedback from people who make a living from you 2. Self knowledge 2. Three good sources of information 2. Complaints 3. Critics 4. Market research 3. Internal marketing audit 13. SWOT analysis 4. The goal is to develop an honest and balanced understanding of who you are to your 
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Study Guide for Lecture 6 - Target marketing II - Study...

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