100%(3)3 out of 3 people found this document helpful
This preview shows page 3 - 6 out of 11 pages.
For example, Nike suggests an independent spirit, Visa provides freedom for people to follow their passions, and Coca-Cola inspires moments of happiness.Satisfied customers will make repeat purchases and, marketershope, remain loyal to the brand. (Stabilizes market share)-Unique selling point – the primary benefit that distinguishes it from its competitorsBuilding the Brand-Brand manager – an individual assigned responsibility for the development and implementation of marketing programs for a specific product or group ofproducts-The process of building a brand involves four essential stepso1) Identify and establish brand values and positioning strategy2) Plan and implement brand marketing programso3) Measure and interpret brand performanceo4) Grow and sustain brand equity (managing a brand through its life cycle)
-Core values – the primary attributes and benefits a brand delivers to the customer-Attribute – a descriptive feature of a product-Benefit – the value a customer attaches to a brand attributeBrand Positioning Concepts-Positioning – the selling concept that motivates purchase, or the image that marketers desire a brand to have in the minds of the consumers-4D positioning rule – a good positioning strategy must be:oDesirableby consumersoDistinctivefrom the competitionoDeliverableby the companyoDurableover time-Product differentiation strategy – a plan of action for communicating meaningful attributes and benefits of a product to a target market-Leadership positioning – a marketing strategy in which a product presents itself as a preferred choice among the consumer-Head-on positioning – a marketing strategy in which one product is presented as an equal or better alternative to a competing product-Innovation positioning – a marketing strategy that stresses newness (based on a commitment to research and development) as a means of differentiating a company or a brand from competing brands-Price positioning – a marketing strategy based on the premise that consumers search for the best possible value given their economic circumstances-Lifestyle (image) positioning – a marketing strategy based on intangible characteristics associated with a lifestyle instead of tangible characteristics-Repositioning – changing the place a product occupies in the consumer’s mind, relative to competing products-Brand design – a concept that attempts to include an experience in the designof a product (for example, the design may trigger an emotional response)Chapter 4 – Advertising Planning: CreativeCommunications Essentials-Communication – the transmission, receipt, and processing of information between a sender and receiver-Encoding – the transformation of a message into a meaningful format, such asan advertisement, a mailing piece, or an article in a newspaper-Transmission – the sending of a message through a medium such as television, radio, newspapers, magazines, outdoor advertising, internet, and so on