Chapter 6 Marketing Quiz

Positioning

• allows a brand to create an image—the outward representation of what it wants consumers to see it as.

5 different types of positioning strategies

• Benefits positioning: Emphasize the product or service as offering more benefits than competitors.

• Target positioning: Emphasize the brand’s specific consumer segment in marketing communication 

• Price positioning: Emphasize price in marketing communications by offering the most expensive or inexpensive pricing

• Distribution positioning: Use unique sales techniques

• Service positioning: Emphasize the extra or higher quality services they provide.

5 rules for positioning a brand

• Having a positioning premises 

• Focus on long-term positioning

Do:  select a position that their product can maintain over a long time

Don’t: base their positioning on a technological innovation

• Use relevant positioning 

Do: Ensure the target market cares about what you’re emphasizing as your position.

• Ensure clear and coherent positioning

Do: Ensure consumers can understand your brand’s position to help the company promote awareness and increase sales.

• Emphasize distinctive positioning 

5 methods to grow your brand

1. Support for an existing brand: make slight changes for an update 

2. Development of a brand extension: when a company uses one of its established brands to create a similar product

3. Licensing a brand: when a company allows another company to use their brand identification for a fee

4. Co-branding: when two or more brands combine and cooperate for their mutual benefit.

5. Acquisition of a successful brand: One company buys another company or another brand to help make themselves more successful.

Commodity

 products that are unbranded and therefore difficult to distinguish from one another.

Product differentiation

the way a company ensures that its products are seen differently from their competitors’ products

Manufacturing brands

• Owned and initiated (created) by manufacturers.

private label brands

• Owned and initiated by wholesalers and retailers.

generic brands

• Represent a general product category and do not carry a company or brand name.

Corporate dominant names

• Include the name of the manufacturing company in the brand name to:

A) Link the product with the reputation of the manufacturer. 

• E.g.: Honda CR-V.

B) Brand an otherwise generic product.

• E.g.: Anyone can sell corn flakes, but “Kellogg’s Corn Flakes” is a distinct       brand; “office” is a generic word, but “Microsoft Office” or “Office 365” is a  brand name; “Marc by Marc Jacobs”

product-dominant brand names

• Try to connect a product with its positive attributes.

• Often made up of words designed to portray a positive image of the product.

  • E.g.: 

    • Zest Soap (manufactured by Unilever) → fresh scent to wake you up.

    • Fancy Feast (manufactured by Nestlé) → gourmet dinner for your cat.

    • Huggies Diapers (manufactured by Kimberly-Clark) → comforting like a hug to show you love your baby.

3 types of logos

• Monogrammatic

• Visual

• Abstract

Monogrammatic

• stylized writing of the company’s or product’s initials or name.

  • E.g. KFC

Visual

• line drawings of people, animals, or objects.

  • E.g.: Kodiak boots

Abstract

• shapes that carry a visual message but are not representative of identifiable objects.

  • E.g.: The Nike “swoosh”

Slogan

 a short, catchy phrase that is attached to company’s name and logo

• Are 7 words or less, State the brand name, Provide a benefit.

5 reasons we use packaging

1. Consolidation: keep products together, easier to ship 

2. Protection: protects products from damage 

3. Information: barcodes, storage instructions, certain law info like nutritional info

4. Brand Identification: to catch consumers' attention aka silent salesperson 

5. Promotion: used to increase sales

Visual merchandising

A marketing practice that uses floor plans, color, lighting, displays, technology, and other elements to attract customer attention.

marquee

storefront

the front side of a store or store building facing a street