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Description
Flashcards by Carlo Marmo, updated more than 1 year ago
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Created by Carlo Marmo
over 9 years ago
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| Question | Answer |
| What is a brand? (traditional definition) | The promise from the company to its customers of specific benefits, quality and value. |
| What is a brand? (today definition) | Whatever the customer thinks it is! |
| What is the frame of reference? | In a positioning strategy, it is the other competitors a company is comparing itself to. |
| What is a target segment? | A specific group of people within the target market at which a product is aimed. |
| Market segmentation (definition) | A marketing strategy which involves dividing a broad target market into subsets of customers with needs, interests or other variables in common. |
| Positioning (definition) | A positioning statement defines the value proposition of product to the target market in terms of target market, point of difference and points of parity |
| Points of parity POP (definition) | Attributes or benefits a company shares with other competitors |
| Category POPs (definition) | Associations consumers view as necessary to be considered credible (milk or eggs for grocery stores) |
| Competitive POPs (definition) | Associations designed to negate competitors' points of difference |
| Points of difference PODs ( definition) | In a positioning strategy, attributes or benefits unique to a company (customers could not find PODs to the same extent with a competitor) |
| Desirable attribute of PODs | 1. Relevant to the customers 2. Sustainable 3. |
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