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Questions and Answers
Which of the following is true about brand knowledge?
Which of the following is true about brand knowledge?
What kinds of associations should be chosen in brand positioning?
What kinds of associations should be chosen in brand positioning?
What is brand positioning?
What is brand positioning?
Which of the following is NOT a step in target market identification?
Which of the following is NOT a step in target market identification?
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What is the purpose of market segmentation?
What is the purpose of market segmentation?
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Which of the following is an example of psychographic segmentation?
Which of the following is an example of psychographic segmentation?
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What is one of the criteria for choosing target consumers?
What is one of the criteria for choosing target consumers?
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Which one of these is a necessary condition for inclusion in the choice set?
Which one of these is a necessary condition for inclusion in the choice set?
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What are Points-of-difference (POD) associations?
What are Points-of-difference (POD) associations?
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What are the Points-of-difference (POD) associations claimed in the 'Get a Mac' campaign by Apple?
What are the Points-of-difference (POD) associations claimed in the 'Get a Mac' campaign by Apple?
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What are the Points-of-difference (POD) associations claimed in the 'Get a PC' campaign by Intel?
What are the Points-of-difference (POD) associations claimed in the 'Get a PC' campaign by Intel?
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Study Notes
Brand Knowledge
- Brand knowledge refers to all the thoughts, feelings, and experiences a consumer associates with a brand.
Brand Positioning
- Brand positioning is the process of creating and maintaining a unique and distinctive space in the minds of target customers.
- It involves choosing one or more desirable and deliverable associations that differentiate the brand.
Target Market Identification
- Identifying the target market involves understanding the characteristics of the target audience, including demographic, geodemographic, and psychographic characteristics.
- The steps involved in target market identification are: segmentation, targeting, and positioning (STP).
Market Segmentation
- Market segmentation is the process of dividing a larger market into smaller groups of consumers with similar needs, characteristics, or behaviors.
- The purpose of market segmentation is to identify the most profitable segments for the company to target.
Psychographic Segmentation
- Psychographic segmentation involves dividing consumers based on their lifestyles, attitudes, values, and personality traits.
- An example of psychographic segmentation is dividing consumers based on their fitness levels, such as "fitness enthusiasts" or "health-conscious individuals".
Choosing Target Consumers
- One of the criteria for choosing target consumers is their purchasing power and willingness to pay a premium for the product or service.
Choice Set
- A necessary condition for inclusion in the choice set is that the product or brand must be considered by the consumer as a viable option.
Points-of-difference (POD) Associations
- Points-of-difference (POD) associations are unique benefits or attributes that differentiate a brand from its competitors.
- POD associations are created through brand positioning and are claimed through marketing communications.
Apple's 'Get a Mac' Campaign
- The Points-of-difference (POD) associations claimed in Apple's 'Get a Mac' campaign include being "cool", "easy to use", and "virus-free".
Intel's 'Get a PC' Campaign
- The Points-of-difference (POD) associations claimed in Intel's 'Get a PC' campaign include being "affordable", "customizable", and "compatible with a wide range of software".
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Description
"Brand Audit and Positioning: Analyzing Lululemon's Marketing Strategies" - Test your knowledge on brand audit and positioning as you delve into the case study of Lululemon. Understand how their marketing programs, including product, price, place, and promotion strategies, crystallize their brand positioning. Get ready to showcase your understanding of brand analysis and marketing concepts.
