M3_Advertising Principles & Practices Reviewer.pdf

Advertising Principles & Practices: Module 3 Positioning Strategy Channel Is a marketing strategy plan that Your Channel is how customers helps determine where your business interact with your br...

Advertising Principles & Practices: Module 3 Positioning Strategy Channel Is a marketing strategy plan that Your Channel is how customers helps determine where your business interact with your brand; Central stands in the market; distinguishing a understanding to customer needs. brand from its competitors. Channels help identify brand It’s all about showing the strengths to effectively focus your audience how a brand wants to be positioning strategy on what you do perceived in the minds of customers well as a brand. relative to competing brands. Customer Benefits of Strategic Positioning Knowing your focus is crucial for Effecting Growth: effective positioning; identifying what the buyer strategic positioning ensures that an wants and needs. organization’s marketing tactics have Research to see if there is a an impact on customers instigating problem customers need a solution for them to act. and what needs they might report via Product positioning allows a surveys, and reviews. company or brand to illuminate areas Listening to buyers’ needs and where it can eclipse the competition, placing a high importance on those is but this can work in both ways. pivotal in getting customer attention As a Brand focus on being and loyalty. unique, not better. Competition The Pillars of Positioning Strategy Final step, evaluate your market 3Cs of Marketing Linkages: position relative to your direct competitors; yours should be unique and easily differentiated from other What competitors. CUSTOMER advantages do What is our our competitors relationship with have? How can customers? we sidestep them? Value Proposition Describe the functional and emotional benefits of companies and COMPETIT their brands; tell customers why they COMPANY choose your product or service. ORS Functional benefits: linked to How are we different from our competitors? specific product features Emotional benefits: positive feelings when using a product or service 1 Advertising Principles & Practices: Module 3 Examples of Value Propositions Uber- The Smartest Way to Get Around Apple iPhone- The Experience is the Product Canva- Design Anything Spotify- Accessibility and Customization Wordpress- Build Simply How to Write a Value Propositions Identify your customer’s main problem. Understand your target audience. Understand your competitors. List the benefits your product or service provides. Differentiate yourself as the preferred provider of this value. 2