18 Questions
What is the primary purpose of identifying the target market in the brand positioning process?
To understand the customer's needs and preferences
What is the concept that reveals a broader set of actual and potential competitors in the market approach?
Satisfying the same customer need
What is an example of a company that can be considered a competitor to Coca-Cola?
A water bottling company
What is the purpose of points of parity in brand positioning?
To establish a common ground with competitors
What is customer segmentation based on?
All of the above
What is the outcome of the brand positioning process?
A brand value proposition
What is the primary purpose of a Brand Positioning Statement?
To highlight the unique value claim of a brand
What is a Perceptual Map?
A graphical representation of how consumers perceive brands in a product category
What is the Brand Value Proposition (BVP)?
The emotional and rational benefit that customers derive from purchasing a product
What is a Brand Story?
A narrative that communicates a brand's history, values, mission, and identity
What is the relationship between a Brand Value Proposition and Brand Positioning?
A Brand Value Proposition is a component of a brand's positioning strategy
What is the purpose of a Brand Positioning Statement in relation to the competitive set?
To differentiate a brand from its competitors
What type of brand associations are closely related to Points of Differentiation (POD)?
Both functional/performance related and imagery related
What strategy did IKEA use to differentiate itself from other brands?
Reasonably priced alternative for the mass market
What is the main purpose of Points of Parity (POP)?
To identify the shared associations with other brands
What is an example of a POP association at the generic/basic product level?
Banks having saving accounts and credit cards
What is the relationship between Points of Differentiation (POD) and Unique Selling Proposition (USP)?
POD is closely related to USP
Why is IKEA able to offer low prices to its customers?
Because of its DIY products
Learn how to create a positioning statement for a brand targeting millennial consumers who are socially conscious. Understand how to highlight the unique value claim and reasons to believe in the brand. Practice crafting a statement that sets the brand apart from its competitors.
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