347 Case Review

347 Case Review - CaseReview ProductandBrand Management...

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Case Review Product and Brand  Management Fall ‘11
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Creating Brand Equity/STP Class Theme Exercise/Case Key Takeaways Brand Equity Overview Tostitos vs. Publix corn chips Branding is becoming more not less difficult Consumer knowledge structures affect perceptions of brands Functional differences (i.e. taste) are merely one facet of brand differentiation – emotional connections play significant roles Segmenting, Targeting, and Positioning Your Brand (STP PROCESS) The Fashion Channel Conglomerate PDA Segmentation – Profiling customer/ consumer groups based on shared characteristics such as demographics, needs, and wants. Use Cluster Analysis to determine how clusters break out and how they differ vs. each other based upon descriptive data Index – segment group means vs. total population means useful in determining relative difference between segments Key choice - choose between targeting the largest segment or combination of segments vs. targeting a smaller niche that may command a higher price point Use consumer/customer research in the segmentation process combined with our hypotheses on the volume and value ultimately represented by each segment
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Class Theme Exercise/Case Key Takeaways Brand Positioning Writing Positioning Statements for “Drink-Aid” and other products Strongly positioned brands: Make a sacrifice Remain true (focused) Are consistent Ladder up to “core essence” Attributes Functional/Emotional Ben. Personality Brand positioning statement Summary of brand Differentiating vs. comp. Brand Positioning – Elements and Associations VW Beetle Eliminate thinking that core user must be demographic Utilize attitudes, beliefs, and behavior to create a core user that can be identified with regardless of demographic Utilize media strategies that speak to psychographics vs. demographics
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347 Case Review - CaseReview ProductandBrand Management...

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