For example Nike suggests an independent spirit Visa provides freedom for

For example nike suggests an independent spirit visa

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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, marketers hope, remain loyal to the brand. (Stabilizes market share) - Unique selling point – the primary benefit that distinguishes it from its competitors Building the Brand - Brand manager – an individual assigned responsibility for the development and implementation of marketing programs for a specific product or group of products - The process of building a brand involves four essential steps o 1) Identify and establish brand values and positioning strategy 2) Plan and implement brand marketing programs o 3) Measure and interpret brand performance o 4) Grow and sustain brand equity (managing a brand through its life cycle)
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- 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 attribute Brand 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: o Desirable by consumers o Distinctive from the competition o Deliverable by the company o Durable over 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 design of a product (for example, the design may trigger an emotional response) Chapter 4 – Advertising Planning: Creative Communications 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 as an 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
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