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MKTG 494 - Chapter10

Exam 2

QuestionAnswer
STP segmentation, targeting, positioning
positioning act of designing the company’s offering and image to occupy a distinctive place in the minds of target market. Goals is to locate brand in the minds of consumers to maximize potential benefit to firm.
category membership – products or sets of products which a brand competes and which function as close substitutes
points of difference attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe they could not find the same extent with a competitive brand (IE. Lexus = quality)
points of parity associations that are not necessarily unique to brand but may in fact be shared with other brands
category points of parity associations consumers view are essential to a legitimate and credible offering within a certain product or service category; brand must demonstrate clear superiority (IE. Travel agency must be able to make air and hotel reservations)
competitive points of parity associations designed to negate competitiors’ point of different
straddle positioning two benefits
announcing category benefits reassure consumers that a brand will deliver on the fundamental reason for using a category
comparing exemplars well-known noteworthy brands in a category can also help a brand specify its category membership
relying on product descriptor product descriptor that follows the brand name is often a concise means of conveying category origin
competitive advantage company’s ability to perform in one or more ways that competitors cannot or will not match.
leverageable advantage one that a company can use as a springboard to new advantages. (ie. Microscoft leveraging its operating system with Microsoft Office)
channel differentiation companies can more effectively and efficiently design their distribution channels’ coverage, expertise, and performance
image differentiation companies can craft powerful, compelling stories
Created by: lucynguyen08
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